Hi Guys,
I haven't yet bought any new stock positions today. I've got some buy limit orders in for stocks on my watch list but none have filled yet. It's been a quiet couple of days.
This hasn't been the easiest week, that's for sure. There were losses littered through the week. After seven weeks in a row of profit, a week like this may have been due from an odds perspective but the losses still aren't fun. Add to it the fact that the market is going up while we're having a rocky week, and that makes it a tough week.
What I can tell you is that this has happened before. Earlier this year, there were weeks where the market went up and my positions didn't do well. At the moment it's happening, it can feel like a big problem. But when you "zoom out" and look at the bigger picture, it's just one step along the journey. Overall my path has been profitable. Some steps weren't particularly fun. Some steps were quite fun.
I closed a bunch of positions today. I had a lot of expiring options, and I closed all those positions out this morning. MCK, BSX, and DPZ were closed for a loss, but Coke and Pepsi both turned a profit. Also, CPRT hit the stoploss. Yesterday my /MES futures trade hit the profit target.
I did buy KLAC options in my extra options account today. I didn't buy the stock because this one technically didn't qualify for the back-tested approach I use. But it's definitely the right type of setup and falls within the raw back-tested edge. Since I sometimes use a touch of discretion in my extra options account I decided to buy it.
If you have any questions or feedback, I'd love to hear from you.