Hey Guys,
The market is now down a full 100 points from its recent high. The S&P 500 is around 4,500 this morning.
That has dragged the majority of my positions down along with it, although I did have a couple stocks go against the trend. My CDAY stock position hit its profit target on a good earnings release, and my SNAP stock position reached its time limit and locked in a profit.
Most of my other positions are down right now, though. And it's not abnormal to have a period like this. I had a number of weeks in a row with mostly wins, so it might seem abnormal to be facing some red, but in reality it's par for the course according to backtests and my live trading experience. The market has shown a lot of strength in the last several weeks, so let's see how it responds here.
I bought a lot of new positions today. In the main account, I bought stock for VMW and LYFT as well as options for SQ and PYPL. In the options account, I took on options for XLI and TJX. In the double down account, I took on stock for QCOM and options for ETSY. (Note: I accidentally posted the ETSY trade to the options account at first, but in reality it was a trade in my double down account so I re-posted it to the correct page.)
I have a bunch of options positions that reached their time limits today. I'm going to manually close those near the end of the trading session today unless they reach their profit targets first.
I earned a dividend on my WFC stock position. Anyone else who owned it overnight last night also earned it. Most brokerages will credit your account automatically in the coming week for the dividend.
SQ is reporting earnings overnight, so its price could get volatile. I'm going to hold it like normal as per my trading plan, but if you don't want the volatility, you could consider closing that position before the trading session ends.
If you have any questions or feedback, I'd love to hear from you.