Daily Market Update – December 27, 2016 (Close)
The final week of 2016.
For lots of reasons, I can’t wait, but will still be sad to see it go, although it won’t be sad if 2017 was destined to be as completely boring as it was today.
It was likely, and still is, to be a pretty quiet week on the planned news front, at least as far as economic reports go and earnings are done, at least for another few weeks.
That leaves us with a market where traders may be rolling the dice.
Will there be strategic tax loss selling? Will there be opportunity to take advantage of expected light volume?
Will anything unexpected happen anywhere just from an errant Tweet or fake news story?
Amazing that those latter two are even a thing.
So, regardless of what this week’s trades may or may not bring, it was by far my least busy trading year since I’ve started doing what I’m about to give up doing.
It’s also the slowest trading year since I started trading, with temerity, on my own.
I hope that changes next year, although I hope that the end result and the bottom line continue along the same path.
With still way too much in commodities, I think that 2017 will be another good year, regardless of what happens with the overall market.
I plan on trying to leverage those long dormant positions with every possible opportunity in 2017 and trading more and more, even if not opening as many new positions.
I also plan to going longer term, as I’m getting a little older and not as keen about keeping an eye on news and events day in and day out.
Although I never get bored, all of the above is subject to change if the slightest bit of boredom creeps in.
I do know what I like, but I’m not certain of how I might respond to boredom, so it may be best to be prepared to go back to what I know I like.
This week, I have cash.
I do like that.
I also have some inclination to spend cash.
I like that, too and so, now I actually have less cash.
I have some ex-dividend positions.
And a couple of expiring positions.
Like that, too.
So, even as not expecting much on the week, I;m approaching it with a smile and am ready to go, even of only for 4 days.
Hopefully, whatever few days are left will usher in a nice and welcoming 2017 for all of us.