Hey Guys,
The S&P 500 is up this morning after having a green day yesterday, which is a promising sign and a good show of market strength.
It's been a really busy morning for me, with both good and bad trade outcomes. My stock positions for AAP and A reached their profit targets, while my stock position for AMGN got hit hard and reached its stop loss. My option trades for PINS and FXI reached their profit targets, and the one for FXI gapped up well past its profit target for an oversized profit. On the flip side my option position for WPM, which had been near its profit target yesterday, took a big dive overnight.
So my positions seemed to have been flying all over the place over the last 24 hours. It was nice to lock in profits on a number of positions, but there was a spoonful of medicine to go with it.
About the AMGN trade, every once in a while I'll take a trade where I'm in the wrong place at the wrong time when bad news breaks. It goes both ways, and sometimes surprising good news shows up for a company right as I'm holding a position. Ultimately, backtests account for these occurrences, so I just go with the flow as always, accept that trades like this occasionally happen, and move on to the next trade.
I took on some new trades today. In the stocks account, I bought shares of AU and EBAY. In the options account, I bought the options for EBAY.
If you have any questions or feedback, I'd love to hear from you.