Volume was rather low on the stocks I was watching today, so I didn’t trade much. I had a loser and a winner in CHRW, which mostly cancelled out, but left me slightly negative for the day. I doubt I’ll make any trades after the rate hike.
I was pretty confident about the losing trade, but it didn’t pan out. I was reasoning that buyers would be stepping aside in the half hour leading up to the Fed announcement, while people with profits in up stocks would start selling to protect their gains. Since CHRW was acting weak, but still up for the day, I expected a bit of a selloff sometime after 1:30 EST. Instead, the darn thing jumped up about 20 cents before the meeting, and I covered for a loss. And it’s a good thing, because as I write this, is up another 80 cents.
So, not that good of a day, but overall I lost less than 1R, so it’s not a big deal. Even though I’m not superstitious, lately I keep dreaming that I’m going to have a huge profit day, and that gets my hopes up a bit. Then I wake up and I keep having normal days instead!
I’ll be out of town next Monday and Tuesday, and haven’t yet decided whether I’m going to trade tomorrow.
