Hey guys, sorry for bailing last week after the fed decision, ive gotten a couple PM's and a couple emails asking where i went. A friend of mine who works on the oil rigs came back in too town and asked if i wanted to go to his cabin and go fishing, on wednesday night, and i had made 1500 on tuesday and 2800 on wednesday, (0 on monday) so i looked at the market when it caught the bottom after the fed decision i just figured it would be more chop, why fight it after two pretty good days? Especially when i have a bad tendency to size up after good days. It was a good week based on a few opportunities where i thought i had an edge, and that was a pretty huge summer time week, so i didnt want to fight it.
So i went fishing, it turned into somewhat of a sweet adventure, we didnt really catch anything big, (In fact we caught very little of anything) but we ended up all the way on the north end of a northern canadian lake, where there is literally 0 population anymore.
And then my buddies motor on his boat just died, 50 miles from civilisation.
Thankfully the weather was nice and we had a case of cold beer, we ended up stuck on the lake from friday afternoon at about 3:00 to almost 9:00 at night and then some native dude happened to drive past us, otherwise it would have been a very long night, lol it devolved pretty quickly, I had already committed to letting him eat me if it got to that point, since we both agreed i was fatter and id provide more nutrients, someone had to get back to shore to tell the tail of our legendary fishing trip, where we caught a few 1 pound walleyes.
we went from "Fuck it someone has to find us," while we were floating with sunshine and beer, to paddling towards and island and planning on bunkering down for the night, I could already tell by the look in the captains eyes he was looking at me like a well marbled steak, so i desperately clutched the boat anchor thinking i might have to beat him to death if he decided to eat me before we had atleast made a cell phone call to shore, and updated our facebook statuses. (Fishing in 2017 is a little easier than back in the day.)
And just then one of the only boats we saw all day drove by us, and towed us 50 miles back to civilisation. Pretty lucky, lol. Walter is our saint. It was turning into the "Lord of the Flies" We were down to our last Coors light.
Anyways im back in the saddle on monday im not dropping the journal..... sorry i ddint say anything guys, but this is summer time trading, its boring as hell, and there is very few opportunities, last week was probably "Peak" volatility for the summer, so dont fight it, enjoy the time of the year, and enjoy your time you have instead of spending 12 hours a day in front of a computer staring at charts when there is nothing there
All the tech names we thought were breaking down last week caught the bottom, and now they are just drifting in no mans land, i dont want to buy them, but i dont want to chase them down either. So just say fuck it, dont feel like you got to nail every move when the market is in no mans land right now, the way i look at it is we are half way between the top and the bottom on alot of these tech stocks, its going one way or the other but its really hard to read now, i thought that fed decision might move things but it didnt, so now we are in grind mode. Just play it safe, and dont force anything.
I used to do this to myself every summer, i felt like i had to make "X" amount of dollars every day, but my numbers over like 15 summers are not very much higher than zero, so just enjoy the time off, unwind, enjoy the summer and be ready to hit it if volatility comes back, or else late august/early september when Volume comes back, be prepared to step in when you feel like there is opportunity, but dont piss your timeaway , and your only freedom from the markets you will get away fighting with a dull summer time market.
So i went fishing, it turned into somewhat of a sweet adventure, we didnt really catch anything big, (In fact we caught very little of anything) but we ended up all the way on the north end of a northern canadian lake, where there is literally 0 population anymore.
And then my buddies motor on his boat just died, 50 miles from civilisation.
Thankfully the weather was nice and we had a case of cold beer, we ended up stuck on the lake from friday afternoon at about 3:00 to almost 9:00 at night and then some native dude happened to drive past us, otherwise it would have been a very long night, lol it devolved pretty quickly, I had already committed to letting him eat me if it got to that point, since we both agreed i was fatter and id provide more nutrients, someone had to get back to shore to tell the tail of our legendary fishing trip, where we caught a few 1 pound walleyes.
we went from "Fuck it someone has to find us," while we were floating with sunshine and beer, to paddling towards and island and planning on bunkering down for the night, I could already tell by the look in the captains eyes he was looking at me like a well marbled steak, so i desperately clutched the boat anchor thinking i might have to beat him to death if he decided to eat me before we had atleast made a cell phone call to shore, and updated our facebook statuses. (Fishing in 2017 is a little easier than back in the day.)
And just then one of the only boats we saw all day drove by us, and towed us 50 miles back to civilisation. Pretty lucky, lol. Walter is our saint. It was turning into the "Lord of the Flies" We were down to our last Coors light.
Anyways im back in the saddle on monday im not dropping the journal..... sorry i ddint say anything guys, but this is summer time trading, its boring as hell, and there is very few opportunities, last week was probably "Peak" volatility for the summer, so dont fight it, enjoy the time of the year, and enjoy your time you have instead of spending 12 hours a day in front of a computer staring at charts when there is nothing there
All the tech names we thought were breaking down last week caught the bottom, and now they are just drifting in no mans land, i dont want to buy them, but i dont want to chase them down either. So just say fuck it, dont feel like you got to nail every move when the market is in no mans land right now, the way i look at it is we are half way between the top and the bottom on alot of these tech stocks, its going one way or the other but its really hard to read now, i thought that fed decision might move things but it didnt, so now we are in grind mode. Just play it safe, and dont force anything.
I used to do this to myself every summer, i felt like i had to make "X" amount of dollars every day, but my numbers over like 15 summers are not very much higher than zero, so just enjoy the time off, unwind, enjoy the summer and be ready to hit it if volatility comes back, or else late august/early september when Volume comes back, be prepared to step in when you feel like there is opportunity, but dont piss your timeaway , and your only freedom from the markets you will get away fighting with a dull summer time market.
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