Want to talk funny mentals, do you? Well, you got it! This very week, I have received an astonishing number of phone calls from agents(Freight brokers and dedicated freight sales) in a market long known to be in freight supply/demand equilibrium. Several of these agents told me they are having a hard time covering their freight(Finding drivers to haul). Part of this is coinicident with freight rates rising and drivers on typically lower paying dedicated runs starting to increasingly chase higher rates offered by more aggressive shippers. The other thing conveyed by some of the agents who called me is anticipatory. Several agents were looking for drivers who would commit to covering their freight in the expectation of new contracts being signed in the near future. It was interesting to note the tone of voice of several of these agents. Some agents sounded fearful, as in “if I can’t get these loads covered, I may lose the account”. Other agents sounded exuberant as in “We are going to be making some real money now”. Although I have been critical of Trump’s handling of the spread of Covid-19, it seems he is on the ball on mitigating many of the economic aspects of the pandemic. Between Congress, the Fed, many large employers resisting layoffs(Perhaps because of Trump Administration promises), and of course our Executive-In-Chief, Trump, we may be looking at many parts of our economy going into overdrive in the coming months. Still, increasing demographic headwinds for the next 5 plus years, the fact that dead people(From say, pandemics) don’t make good consumers, and record high public debt loads make projecting economic growth a big challenge. Overall, it is my opinion the Trump Administration’s efforts will certaintly succeed in the very critical aspects of economic growth that consists of entreprenural risking taking and consumer spending. Of which, an underlying component is confidence. Made 114 points short MNQ today and closed my bearish ES option spread at a 2 1/2 point profit. My losing trades were small. Eat like a elephant and sheet like a bird, just like they taught me at VZ’s school of trading!
Thanks....got a little noisy in here. Yes, trading ranges are best traded by fading the edges. They always eventually breakout but like to trap breakout traders before they do.
Pretty cool story. What does the artwork on them look like? I mean I know they are worthless, but one at a time on E-Bay.... if the artwork is cool... I bet it is, that's the way things were back then. Take a picture sometime, I'd love to see one. FALSE! XLF $24.08 lol. Whatever. What ya shoot yesterday on the golf course? They just gave me a slap on the wrist. Wrong again. Welcome to ET. Who were you in your previous life? Where the f is the mute knob? Scroll back a quote or two. Off-shore accounts back in the day. Hey you!. Always a pleasure. Too much money chasing too few stocks.
Missed my long entry for MNQ before the open because I tried to save a tick. Just going to look for quick scalps for today on the side of the VWAP. Three trades, tops, before taking the rest of the day off near lunchtime.