Hey Guys,
The market is kind of hovering right now. It shot up two days in a row at the end of last week, and now it's kind of just hanging out at this middle ground for now.
I picked up a couple of new stock positions this morning. Both are in the Communications Services industry. As most of you know, I only buy a max of two stocks per day in most cases. I like it when those two stocks can be from different industries, but ultimately I am more concerned about ensuring I get my two trades per day when they're available.
I'm still hoping to land an options trade at some point today. DISH was really close earlier for a potential options trade. We'll see if it triggers later today.
In my portfolio right now, DGX (Quest Diagnostics) is the only ticker that's down. I noticed yesterday that around 15 minutes before the close of market, there was some sharp downward price movement on that one. It may have been news of some sort that caused it, or it may have been some irregular buying and selling activity (like a fund unloading big volume). Either way, sometimes that happens when I'm in the middle of a trade. I choose to stick to my original plan every time. There have been many times where I bought a stock, it shot down in price for whatever reason, and then it turned around and came back up. Trying to analyze how news will impact a stock can be very challenging. So I don't try to analyze the news or evaluate whether to get out of a trade early based on a price drop. I just stick to the plan. It's so simple! And it ensures that I honor the back-tested approach. It doesn't mean I won't take losses though.