It's a beautiful morning just East of Little Rock and I'm in a bad mood. I'm angry at myself for my behavior while trading Friday afternoon. Before any kind of trip that will limit my ability to be in front of the screen, I prepare for it by carefully devising a position that is suited for minimum hand holding. Sometimes I stay flat. Friday I felt the impulse to trade a market I rarely trade -- gold -- and did not think ahead to this week's drive home.
True, I bought puts soon after the position was in the green, but I added calls too as the price reversed. Now it's causing me pain. Not the way I like to travel.
The core position is long August gold futures at 1507.50 against July GLD 146 puts. I feel okay with it now that the options market is open. It was little different when it wasn't and the future's loss was staring me in the face.
I just dumped the calls at the open for a loss. Now I need to let gold show me what it wants to do.
Still watching the S&P for any break of 1258-1298.
USDCAD is bumping up against its down trend line from 2009. Ordinarily I'd be hedging it here, but it looks like it's building steam to break through the trend line and head to par. I'm still in this from April.
Watch the dollar. If briefly poked above 76.50 and pulled back. Continued trade above 76.50 could change the dynamics of the markets considerably.
Since having the last of my mercury fillings replaced, I am noticing a slight change in my nervous system which seems to be starting to relax for the first time in decades. I think a side effect of this may be the cause of my "behavior" on Friday. I've been noticing brief bursts of really good memories here and there that pop up for no reason. It feels great, but I'm wondering if it may cause me to be a bit impulsive as my nervous system resets. Who knows, just thinking out loud and writing it down. Something I'll need to monitor if I want to stay in the green.
Heading to Memphis for lunch. One guess what I'll be having . . .
No comments:
Post a Comment