Hey Guys,
The market is volatile right now. It had that big drop yesterday, and then shortly after my futures position hit its stoploss, the S&P 500 climbed up 90 points and finished very strong. Overnight the market was up some, and then this morning the market started down. It's as if the market is searching for a comfort zone where it can settle down and rest, and until then it's exploring all sorts of price ranges.
Overall my accounts haven't been particularly happy through this volatility and are down. There have been a few bright spots though. I had a couple of options trades hit their profit targets in the last couple days (CAH and CVS). Also, my PFE stock position reached its time limit today and I closed that for just a bit under breakeven, which to me is great since it had been down almost the entire time I owned it. In the low-priced account there were a couple positions that reached their time limits too (WEC and ES), and I closed them out for a combined profit.
When stock positions reach their time limits, like those three from today, I like to set up a market sell order before the market opens to replace the previous OCO order. That automatically closes the position at the opening bell. The second video on this page shows how I do it.
I picked up new positions today. In the main account, I bought IBM stock and I picked up a futures position (and posted its stock equivalent). In the low-priced account I bought stock for Colgate-Palmolive (it was the double down strategy).
In my extra options account I loaded up on new positions. I grabbed options for BAX, CL, XLP, and PG. That's a lot of tickers from the Consumer Staples industry. I have a lot of open options positions right now that have a time limit of November 13 (two days from now). It will be exciting to see how the next couple days unfold.
If you have any questions or feedback, I'd love to hear from you.