Although this is the Post Office motto it is true for traders and brokers on Wall Street. Once you know the market is going to open, your plan for getting into the office begins. So far I have heard some great stories of shoveling driveways, getting a hotel room and sleeping in the City, walking through the NYC blizzard on cross country skis and doing the trudge to get to the “desk". Obviously yesterday, not enough pros made it in or the market might have done better today. The downturn was blamed on bad earnings you and I know it was more about the bulls not making it to their desks to trade.
Wednesday should be a “glad to get back to my desk day” atmosphere for most. After all how much shoveling can this crew do off the desk. This is when the traders break out their Hugo Boss snow boots, the Christmas sweater gift, ear muffs for the walk from their home to the four wheeler SUV for the trip to the desk. Sheer determination getting to the office takes a back seat to getting out of the house and escape from cabin fever, the kids, MSNBC and the bar. Can you imagine a trader sitting in a place with no lights, no power, no phone no Internet, no newspaper - to them this is worse than waterboard torture. What’s worse is a client living in Florida or California or Arizona wanting to speak with their broker wondering why they cannot reach them. When the Mayor closes highways, shuts down subways and buses, there’s no way anything gets done. The traffic to the city Wednesday will be insane, trains will be overcrowded and airports will be operating fully as the marketeers plow back to work. Market insanity will start at the opening bell. I bet many are heading in tonight to ramble into the office to just have that first cup of coffee, take a deep breath because all hell is going to break loose.
Does it sound like I know what I am talking about, well I truly miss my days on the street. Although now I sit in the sunshine and remember what happened when a good ole storm made you do whatever it took to get in, and that was just about anything.
To all others getting in to work is truly important, jobs are waiting, but nothing compares to the necessity of getting your butt into your chair and turning on your screen before the open. Remember for this group staring at a screen is a major part of the job description. So let’s hope that its back to business as usual Wednesday because usual is pretty insane normally.
© 2017 Stock News Now
Supported by Superior Web Solutions