Hey Guys,
The market had nice gains on Friday and we pulled in some victories. Target hit the target. My MES futures trade hit the profit target (as did its SPXL equivalent). I also had two options trades hit their profit targets.
AAPL came one penny away from triggering an option profit this morning, and then pulled back noticeably. If things go our way, it will get back up there and lock up a profit before the week is over. Those close calls can be frustrating, but as always, I try not to invest my energy in reacting to unrealized gains and losses. Until the trade is closed, anything can happen, and I'd rather be at peace with that fact than fighting it.
I picked up new positions this morning. I bought AMGN in the main account and SM in the low-priced account. I got more options too, including a double serving of TTWO. Right out of the gate TTWO went down hard, so it qualified for the double down strategy within 10 minutes after I made my first trade. You'll notice in the extra options account that I have two different spreads for TTWO, each with different strike prices. The first one was for the classic pullback trade and the second one was for the double down trade.
I didn't have the buying power to purchase the TTWO double down stock position in my main account, but for those interested, the potential entry was 177.61 with a potential profit exit of 188.99 and potential stoploss of 166.23. Its potential time limit would be November 23.
In the low-priced account, both MT and MQ reached their time limits. Both incurred losses. One interesting element about some of the smaller cap stocks is that they don't always follow the market. That can at times be tough, like this time, but at other times it can be nice (when the market as a whole is going down and doesn't drag the small cap stocks with it). That's one of the tradeoffs we face with the low-priced account.
If you have any questions or feedback, I'd love to hear from you.