Hi Guys,
The market is down some this morning. If you look at the last eight trading days, the S&P 500 futures (which reflect the market as a whole) have been contained in a price range between about 4370 and 4420. We're near the bottom of that range right now as of the time I'm typing this.
I haven't added any new positions yet today. I have buy orders in for most of the stocks on my watch list. I use buy limit orders and set them at the Potential Entry Prices listed there. I'm just waiting for any of them to get filled. I buy up to two stock positions per day, so until two get filled, I'll keep all my buy positions open. I'll simultaneously keep an eye out for options trades, which have the same entry criteria as my stock trades.
My IDXX stock position hit its profit target this morning, so that position is closed. My stock position on Visa (V) came extremely close to hitting its stoploss this morning, but for the time being is still alive. I was excited to get into that position on V yesterday. Back tests show V may have won 66% of the time in these trade setups over the last 20 years, which compares favorably to the 57% overall average across all tickers, so I happily jumped into the trade when it set up yesterday. You never can tell for sure what's going to happen next though, and so far V just hasn't gone my way.
My ORCL options have perked up after looking pretty sleepy for a couple days. I bought those at a pretty solid discount, so it's nice to see them going in the right direction.
If you have any questions or feedback, I'd love to hear from you.