Hey Guys,
The market was in the midst of a solid rebound on Friday morning when I emailed, and then it completely deflated. The S&P 500 is back below the 4,300 mark this morning.
I closed a few stock positions this morning that reached their time limits. PSX locked in a partial profit, while TSLA and VEEV from the double down account came in a bit under breakeven. It was a little tough to see those outcomes after all three of those had been looking quite strong at the start of Friday.
But those sorts of swings happen in trading. I like to keep in mind that they go both ways. In fact, it went our way just the day before, on Thursday, when the market went up right as all my options positions reached their time limits. I've found that calling to mind a memory of a market swing that went in my favor can help me stay grounded when one goes the other way.
I picked up some new positions today. In the main account, I bought stock for ALL. In the options account, I bought options for XOM. In the double down account, I bought stock for WRB and options for VLO.
If you have any questions or feedback, I'd love to hear from you.