Hey Guys,
The market dipped over the last 24 hours and presented us with some buying opportunities.
In the main account, I bought MU this morning. I also bought HD yesterday. In the extra options account, I bought options for MU and HD as well. In the low-priced account, I bought RMBS this morning. I am getting some satisfaction from filling the accounts back up with trades.
My purchases of HD and MU came right off the watch list. For both of them, I simply set up a buy limit order before the market opened in the morning and waited for the order to get filled. MU got filled at the opening bell this morning. Since it had gapped down, I got filled at a price that was actually a bit lower than the price I entered in my buy limit order (which was the Potential Entry Price from the watch list).
One interesting thing to notice: when the market dipped this time, we didn't have many positions open. So we didn't take much heat on the ride down. Just a few weeks ago when the S&P 500 went from 4700 to 4625 (like it just did in the last 24 hours) it pulled my account balance down quite a bit because I had so many positions open. But this morning the impact was minimal. That's one of the fortunate things about the fact that the back-tested strategy didn't have us taking on many positions in the last week.
Yesterday I had two different positions reach their profit targets: PFE in the main account and SFM in the low-priced account. There is a nice streak going in the main account -- no realized losses in the last two weeks. Let's see how far this streak can go.
If you have any questions or feedback, I'd love to hear from you.