Hey Guys,
The market is definitely in volatility mode this week. Yesterday, the market wiggled plenty, and then immediately after the closing bell, the S&P futures dropped 30 points. Then we woke up to find out the S&P 500 gapped up overnight past the prior day high. So the market can't seem to make up its mind and is gyrating all over the place.
And if that's not enough volatility for you, the Fed is scheduled to announce an interest rate decision today at 11am Pacific Time. The market often experiences added volatility immediately following these announcements. So it's possible the market will make explosive moves in either direction today.
I have a relatively safe portfolio right now because I don't have many positions open. I noticed that yesterday, when the market was going through a big drop, my portfolio values weren't sinking much, and it's because my position exposure is relatively light. That's one of the benefits of having a light portfolio when the market is volatile.
My double down account had a couple nice wins since my last email. My EXPE options reached their profit target. And my AU stock position gapped up past its profit target for an oversized profit.
My AAPL stock position from the main account reached its time limit, so I manually closed that. It ended up with a partial loss.
I haven't taken on any new positions yet today. That PAGS buy order I talked about yesterday did end up getting filled, so I added that one to the main account yesterday.
If you have any questions or feedback, I'd love to hear from you.