Hey Guys,
We're waking up to the smell of market volatility this morning. The market came down a lot overnight.
I had a short MES futures position, and that kind of softened the blow by reaching its profit target overnight. But my other positions came down in value. My EXAS stock position hit its stoploss.
I went to the races this morning on getting new positions. I bought QCOM and MRVL stock positions. And I grabbed options positions for SQ, SPOT, MTCH, and PINS. If the market goes back up, I will have plenty of vehicles to potentially profit from that ride.
Of course there is no way to know where the market will go from here. This year has seen a ton of volatility flashes. And sometimes the market has gone down one day and gone right back up the next. And other times, the market has thrashed around for a week or two and then resumed its upward march. There are many other possible scenarios, but those are the two scenarios we seem to keep seeing this year when volatility strikes. The bottom line is there is uncertainty (and as always risk), and my course of action is to stick to the plan and keep taking any trades that set up from my back-tested strategy. I'm so predictable!
If you have any questions or feedback, I'd love to hear from you.