Hey Guys,
The market is up again today. It has shown strength over the last week. The S&P 500 is around 4,010 right now.
The best news of the morning -- NVO! It gapped up overnight and went well beyond my profit target. What an incredible comeback. My stoploss was set at 130.01, and the stock got down to 130.10, just nine cents away, and somehow turned around and ended up with an oversized profit.
I'm trying to really let that trade sink in. I want to be able to easily remember it in the future. The reason is because our brains sometimes have a negative bias. And maybe in the future there will be a trade where the opposite happens (it gets close to a profit but then reverses course). Instead of fuming about it, I'd rather call to mind this experience and remind myself that it can go both ways. Basically, I want to be able to stay cool, and having a positive experience like this in my memory bank helps me do that.
There have been no new trades yet today, although ATUS from the watch list got pretty close to the potential entry price for both stocks and options. I have buy limit orders in for those. Also ALL, which had been so strong on Friday, has reversed course and might set up for a double down trade. I have buy limit orders in for that one as well based on the watch list potential entry price.
If you have any questions or feedback, I'd love to hear from you.