Hey Guys,
The market is down a bit from where it closed on Friday, but still up noticeably from where it was for most of October. The S&P 500 is around 3,875 and, as usual this year, still showing signs of volatility.
I picked up some new positions today. In the main account, I bought shares of PXD. It came right off the watch list. And then in the low-priced account, I bought positions in SON and RETA.
That SON ticker has been a wild ride so far today because news came out on it, and on top of that it has earnings being reported on it after the market closes today. So it might be in for some more twists and turns.
And on the topic of a wild ride, ABBV has proven to be exactly that. On Friday after I bought both stock and options positions for it, the price surged and got well over half way to the profit target. But it finished the day down on Friday and then gapped down noticeably this morning.
These earnings day trades can go all over the place, and sometimes it takes a lot of awareness for me not to get emotionally invested in them. If I don't conscientiously detach from them, then I end up going on an internal roller coaster with every twist and turn of the stock price. That's not healthy and it only makes it harder for me to stick to my trading plan. So I purposely try to notice if I'm getting caught up in the trade emotionally, and then see if I can let it go and accept that it will run its course regardless of how I feel about it.
If you have any questions or feedback, I'd love to hear from you.