Hey Guys,
The market gapped down over the weekend. The S&P 500 is around 4,755 right now, well off the 4,800 high that it reached on Friday.
My CM stock position hit its stop loss. Also, I manually closed my stock positions for SCCO and BIP this morning since they reached their time limits, and both of them had small losses.
I have a lot of positions for companies in the financial industry, and that sector hasn't been doing well the last couple days. My HSBC options, in particular, got hit hard over the weekend.
You can never be sure what's going to happen with a trade once you get in the action, and that HSBC trade obviously hasn't gone our way so far. Losses are a normal and unavoidable part of trading, though, so the best thing you can do is make sure your position size is set up in a way that you can tolerate it when a trade doesn't perform well. That said, these financial sector trades aren't over yet...
I picked up some new positions today. I bought stock for AZN and ANSS in the main account. I bought options for MTCH and MRNA in the options account.
If you have any questions or feedback, I'd love to hear from you.