Hey Guys,
The market is back down to the bottom of its range again. The S&P 500 has been in a range between about 4100 and 4175 for more than a week. Yesterday in the morning it got near the top of that range and by the end of the day it was near the bottom. This morning it opened up below the bottom of the range but quickly gravitated back up near 4100. There might be pressure holding the market in that price range.
I picked up a variety of new positions today. In the main account, I bought stock for CHTR and ED. It's like setting up my cable and electricity. In the low-priced account, I bought GO and NVS. I have a nice little slate of positions in both those accounts right now. I'm still patiently waiting for more options trades to set up though.
A couple of my positions have gone just about straight down after buying them. CHTR today has been like that, and AMX from yesterday was like that. Just remember -- it ain't over until it's over. After having made so many trades, I can tell you that many times the position bounces back. In fact, like it or not, the same can be true in reverse when your position is off to a good start. The bottom line is that until the trade is closed, anything can happen, and ultimately we don't have any control over which direction the price is going to go. So I find that it's not worth it to get emotionally invested in the performance of the trade before the trade is over. And for that matter, it may not be worth it to get emotionally invested after it's over, either.
If you have any questions or feedback, I'd love to hear from you.