Hey Guys,
The market kept its upward momentum going into this morning. The S&P 500 is around 4,330 right now, more than 90 points above the low we saw a couple days ago. Maybe that hammer candle was indeed evidence of a turning point of some sort.
The timing of that rebound was good for me since I had a huge raft of options positions that reached their time limits yesterday. Some positions that were deep in the red ended up reducing the size of their losses or even becoming winners. Not all my positions came out rosy, but it was a dramatic improvement over where things were just a couple days earlier.
In fact, my options account actually went up by 4.5% in value this week despite it seeming like a bad week all week. That's at least one example of how sometimes patience can pay off. Until a trade is closed, you never know for sure where it will end up.
I picked up some new positions today. In the main account, I bought stock for ABBV. In the options account, I bought options for ABBV. And in the double down account, I bought stock for HMC.
If you have any questions or feedback, I'd love to hear from you.