I think I know how Joe DiMaggio must have felt.
After having made at least one trade for the first 11 trading days of the year, I doubt that I can keep it going for another 45 days, but I can dream.
I was hoping to get some trades done this week, but for the most part that hope was tied to do something with some of the many positions set to expire this week as the January 2017 option cycle was getting ready to come to its end.
I was hoping not to really be faced with a deluge of trades on Friday, especially since I have to have my attention focused on a few of those positions that had calls sold upon them at strike prices well below their purchase prices.
What surprised me is that I actually parted with some money in order to keep the streak alive.
I also tied that money up until next week.
I wasn’t planning for either of those things to happen, but very little really goes according to script.
The market did almost nothing today, as the DJIA moved a little bit further away from the 20,000 level.
Even a Janet Yellen speech today did little to shake things up, as she spoke mostly in academic terms and there was little for anyone to understand and to then act upon.
That still leaves us with another trading day before the inauguration and another Janet Yellen speech.
There are also plenty of earnings to go, as well.
It’s hard to imagine that much might happen between today and the close of trading for the week, but what we were calling the Trump Rally really does seem to have fizzled out the past week or so.
That 20,000 level may have just been a bit too much, as may have been the impending dose of reality that we will hit on Friday.
I still have cash, but now would really be shocked if I spent any before next week rolls around.
Still, I did again have ny eyes on Under Armour, as it was approaching the price at which I last bought shares.
I wouldn’t mind doing that again, but it may be time to turn more attention to dividends and stocks with options that have more liquidity.
At least, even if the streak does end tomorrow, there are going to be lots of opportunities to start new streaks this year.
I may not be looking forward to the year on the political landscape, but there may be good reason for those on either side of the aisle to look forward to the trading landscape.Click here for reuse options!
Copyright 2017 TheAcsMan