Hey Guys,
The market is booming. The Fed announced an interest rate hike on Wednesday, and the market has been giddy ever since. We are also in earnings season, and that's likely a contributing factor. The market is driving so forcefully that the S&P 500 chart right now is meeting one of the qualifications for my trading strategy (price closing above the upper Keltner Channel). In plain English, this means the market is showing signs of being in a strong short term uptrend.
I picked up some INTC stock in the main account today. It reported earnings and had a huge price drop overnight and met my entry criteria.
One note about INTC: I had a buy limit order set up for it at 38.56 (the Potential Entry Price from the watch list) before the market opened. The price of INTC gapped way down overnight, to the point that when the market opened, both the bid and ask were way below 38.56. My order ended up getting filled at 35.55 at the opening bell without me doing anything. So if the price goes way down overnight and there are plenty of sellers at a lower price, then the buy limit order can automatically get filled at that lower price at the opening bell.
My Pepsi options hit their profit target yesterday. That was nice to see after all the back-and-forth throughout the week. Also my CLX options squeaked out a profit yesterday, which seemed like a nice victory since they were in the red almost the entire time I owned them.
Overall my positions are doing pretty well, except for one. We aren't getting any love from LUV. (I've been wanting to say that all morning.) Another notable ticker is MAS. It was so close to the profit target yesterday, then went all the way down to about breakeven later that day, but is now back up in the vicinity of the profit target again.
If you have any questions or feedback, I'd love to hear from you.