Hey Guys,
The market took a pretty noticeably tumble yesterday, but has since recovered all of that ground as of the time I'm typing this.
What was cool yesterday was that as the market was going down, a number of my positions actually went up in value. That's a pretty gratifying feeling.
And in particular, for any of you who followed the CLX trade (stock or options), you might have gotten a sweet ride yesterday. After I posted the trade, the stock went down hard and fast. So if you followed the trade even just a couple minutes after me, you may have gotten a much better price. CLX then proceeded to have a great upward thrust in price for the rest of the day. Now we just need CLX to finish the job and hold the gains until the finish line.
I bought some new positions today. In the main account, I bought ORLY and MAS. In the low-priced account, I bought VIR. I had a typo on the watch list for MAS that was pointed out to me, and I fixed it shortly before the market opened. For those of you who use the watch list, I appreciate your patience and hanging in there with me on that one!
Important note about ORLY and MAS: both those companies are reporting earnings overnight tonight. ORLY is scheduled to do it after the market closes today, and MAS is scheduled to do it before the market opens tomorrow.
Typically when a company reports earnings, its stock price exhibits more volatility than normal (sometimes quite extreme). It can explode upward or downward. There's no way to be sure what's coming. If you don't like the sound of living through that potential volatility, you can avoid those positions or cut the cord on them before the market closes today. I'll be holding both positions through earnings because that's what my trading plan calls for (that's how it was handled in the back test of my algorithm).
If you have any questions or feedback, I'd love to hear from you.