Hey Guys,
The market is down this morning from where it ended on Friday. The tech sector in particular is down substantially, which is notable since I have a lot of exposure in that industry.
I had a number of positions close today, and it was a mixed bag of results. I got hit hard on NVDA and took a loss on both the stock and options positions I had open for it. On the flip side, I reached my profit targets on my IP stock position and my MET options.
That NVDA stock is an interesting one for me. Way back before I did any stock market research, I once made a $40,000 profit on an NVDA options trade. In retrospect, it was an enormous gamble without enough intelligence to back it up (in other words, luck was involved). And now that I have intelligence and data to back up my trading decisions, I have proceeded to take losses the last couple times I traded NVDA options.
It's funny how that has worked out so far, and for some there might be a temptation to analyze whether there is something wrong with the current approach based on an experience like that. But the data and research never suggested that short term results would be spectacular at all times; the data and research instead suggested that in the short term there have been both wins and losses, and that it's over the long haul where there might be nice rewards to be reaped. So this is a long term game with drawdowns along the way, and I'm therefore ok with these NVDA losses and will continue to take the trades for this ticker or any others as they set up.
I took on some new positions today. In the main account, I bought FB and TSLA. We're taking on some big name stocks right now! In the extra options account, I bought an option spread for FB and sold naked puts for NEE and AKAM. In the low-priced account, I bought stock for CHGG and BSY.
If you have any questions or feedback, I'd love to hear from you.