Hey Guys,
The market had a strong day yesterday and continued its upward drive overnight. The S&P 500 is up more than 100 points from where it was at this time yesterday. A number of my positions are reflecting a profit right now.
Today the Fed is going to have a press conference and release its newest policy decision. Historically on days when the Fed does this, there is increased market volatility (for better or worse). I will be holding all my positions according to the original trade plan I had for each one, as usual. I do this because I like to be in lock step with the back test. But keep in mind that you can do whatever feels right to you. If you want to consider locking in some profits and taking risk off the table before the Fed's press conference, then you can absolutely do that. I support you no matter what you decide to do.
I took some new trades today. I bought stock for NOC and GD in the main account. I bought the options for GD in the extra options account. I also bought HP stock in the low-priced account.
Today I am going to roll over my futures positions. All four of my open futures positions are for the March expiration (H22), and that contract expires at the end of this week. I am going to close those out and open the June expiration (M22) so that the positions can stay open until they reach my pre-defined exits. Doing the rollover is very simple: I just sell the existing futures positions, and then immediately buy them back using the new expiration. I have a video on this page that talks about the rollover in greater detail. And specifically, the 12:54 time stamp in that video is where I show how exactly I do the rollover in my trading platform.
If you have any questions or feedback, I'd love to hear from you.