Hey Guys,
The market is back up today. The S&P 500 has established a range over the last few weeks between 5,670 and 5,770. We're near the top end of that range right now. What we've seen over the last few weeks is a lot of back and forth within the range. Let's see if the market breaks through that ceiling this time.
I had two stock positions reach their time limits: ZTS and DRI. I manually closed both of them at the opening bell. They both ended up with losses.
Both those tickers flashed profitable moves early in the trade and got near their profit targets. Some people might have a feeling of regret, like they should have somehow known to lock in profits while they had them. But my perspective is, "How could you have known?" That's the whole challenge with the market: no one can tell for sure what will happen next. That's why I like following a rules-based trading approach. I don't have to second guess trading decisions or contend with the "woulda coulda" type feelings. I just stick to the plan, because the plan is based on data and statistical research. So while I don't enjoy the two losses from this morning, I don't feel regret about them.
I took on some new positions today. In the stocks account, I bought positions for Google and NTES. In the options account, I bought the options for those same tickers.
If you have any questions or feedback, I'd love to hear from you.