Hey Guys,
I had a feeling we might not be out of the woods with the market volatility, and yesterday confirmed that. The S&P 500 dropped 125 points.
Amidst that market drop, I took some losses. My CSCO trades from yesterday dropped like lead, and the stock trade already reached its stop loss. My HRL option trade from yesterday reached its time limit and also took a loss.
Even though there was a big market drop, we've seen drops like this before multiple times already just in the last three weeks, and each time the market eventually rebounded after the initial sharp drop. Let's see if that happens again this time around.
I took on some new trades today. In the stocks account, I bought positions for HSBC and PCAR. In the options account, I bought the options for HSBC.
If you have any questions, just reply directly to this email.
Eric