Hey Guys,
The market gapped down overnight after a weak close on Friday. I'm not always in the best mood when the market goes down noticeably like that, but today I feel excitement. I didn't have many positions open as the market came down, which is great, and on top of that I have the urge to buy right now with the market so low and it turns out a lot of new trades triggered today. There's no guarantee of course where the market will go from here, but it's come down a long way and this might be a good opportunity to buy low. In 2021, the market has repeatedly shown an ability to eventually boom upward out of turbulent market conditions. We'll wait and see if that ends up happening this time or not.
I picked up two different futures trades in my main account and posted their stock equivalents (SPXL). I bought the March 2022 contracts (MESH22). The trades look very similar as far as the exits, but they are based on different strategies and are two independent trades.
In my main account, I also bought stock for AAPL and EIX. I typically feel good when I buy AAPL. It has a pretty strong track record in back tests. I also bought options for DHI in the main account since it qualified for the double down trade today.
In my extra options account, I picked up the AAPL options as well as a set of those double down DHI options. In my low-priced account I grabbed stock positions for BLDR and FAST.
For my MU stock position, they are scheduled to report earnings after close today. Stock prices often get volatile when their earnings are announced, for better or worse. I will be holding MU as planned until it reaches the published profit target, stoploss, or time limit. But if you don't want to be subjected to the potential volatility, then you can consider flattening the position before the market closes today.
If you have any questions or feedback, I'd love to hear from you.