Hey Guys,
The market is down this morning. The S&P 500 is around 4,115 right now, which is at the bottom of the range that it's been staying in the last few days.
I picked up a number of new positions today. In the main account, I bought stock for TD. In the options account, I took on positions for AIG and SLV. In the double down account, I bought stock for SCCO and FTNT.
I ran into a buying power limitation again on the main account, so I don't have any more space to buy stocks in there until another position gets closed.
The earnings on Verizon did not go my way. I ended up hitting the stoploss on that option position this morning. Back tests suggest that more often than not, holding the trade through earnings could pay off when it overlaps with my trading strategy. This time, though, it did not.
On the plus side, my KMI options yesterday hit their profit target. I also closed my GOOG stock position this morning for a partial profit since it reached its time limit.
There are a lot more earnings announcements coming up this week, and there are a bunch that affect positions I have. All of the following stocks are reporting earnings overnight before tomorrow's opening bell: TMO, MSFT, BSX, HUM and ETR. It could be a volatile experience since stock prices tend to get volatile when earnings are announced. I'm going to hold my positions through earnings, but you can consider closing the position(s) if you want to avoid the potential added volatility.
If you have any questions or feedback, I'd love to hear from you.