Hey Guys,
The market had a great rebound day, which is exactly how we'd hope it would respond after the sharp drop late last week. The rebound is a good sign of strength. The market is relatively quiet this morning so far.
I had a bunch of positions get cleared off the board since my last email.
In the options account, my TSCO option position reached its profit target.
In the stocks account, four different positions reached their profit targets (TSCO, EXPE, SPXL, and FXI). I also had two reach their time limits: BILI eeked out a profit while YUMC ended up with a loss.
Overall, it was a nice recovery from what the situation looked like on Friday. It's a great example of how a trade isn't over until it's over. That's why I try to stay calm and stick to the plan, even when things seem turbulent. It's challenging since there's real risk involved.
My stocks account went from being maxed out and having no buying power to now having almost no open positions. So at this point I have a bunch of available buying power, but no trades have set up yet today. I have buy limit orders in for the tickers on the watch list. BABA is the one that is closest to triggering right now.
If you have any questions or feedback, I'd love to hear from you.