Hey Guys,
The market is at the top of the range it's been bouncing between this week. The S&P 500 is around 5,300 right now. Today will be telling as we find out whether it can break through the top of that range or of it slides back down and continues the pinball-like action.
My ALC stock position from the main account hit its profit target this morning. But I had a poor performance from the option trades that got closed yesterday. Only one from that group ended up with a profit. Most of those option positions had been down since the market opened Monday, after the huge market plunge over the weekend, so they had been in poor shape all week.
Drawdowns like that one we're in right now can be tough to live through. It's one of the hardest things that traders have to learn to deal with. Keep in mind that you can always adjust your position sizing if things feel too heavy. Each person has unique risk preferences, and if losses feel like they're taking too big a toll on you, then you can consider dialing down your position size. It lowers the risk involved.
I picked up some new positions today. I bought stock positions for SSNC and DTE in the main account. I haven't bought any options yet, but I have a buy limit order in for WY from the watch list, and it appears to be really close to potentially getting filled.
If you have any questions or feedback, I'd love to hear from you.