Hey Guys,
The market had a big drop overnight, continuing its recent trend of volatility. The S&P 500 plunged 60 points.
In particular, the bottom dropped out of the tech sector. This was not good for me since I had a lot of stock and option positions in tech.
My losing streak came to an end as a result, and I hit stop losses on my stock positions for MSFT and AMAT.
On the bright side, my option position for AT&T hit its profit target this morning. Always nice to have a position go the opposite way of the masses when the market goes down.
When the market goes down like this, and I see red in my portfolio, I am typically eager to take on new positions. I still only take ones that qualify for my trading strategy, but as long as they meet that criteria, I don't hesitate to load up more. A lot of times the market rebounds after a sharp drop like that, but there's certainly no guarantee of it. There is very real risk involved, as always.
Here are the new positions I picked up today: I bought stock positions for DDOG and ANET in the main account. I bought options for QQQ and XLK in the options account. And I bought options for DDOG in the double down account.
If you have any questions or feedback, I'd love to hear from you.