Hey Guys,
The market finished with a big down day to end last week. This morning it opened right around where it left on Friday.
That presented some buying opportunities since my trading strategy is based on buying low. So I picked up some new positions in all accounts today.
In the main account, I bought stock positions for LNG and OKE. I also bought yet another futures position and posted its corresponding stock equivalent with the ticker SPXL. This one was for strategy MT 39 for those interested. I also picked up a couple of stock positions relatively late in the trading session on Friday (ROL and ALNY).
In the extra options account, I bought a simple call option for WMB. It was perfect for a deep-in-the-money strike because the cost of the option was just a little bit higher than its intrinsic value (and also the option overall was relatively low-priced). That means the option value will move in almost direct correlation with the stock price.
In the low-priced account, I bought positions for CENX and CEQP. I have some positions in that account that aren't doing very well. I hit the stoploss on DQ this morning and my positions on MAT and OGN are not very happy. I try to remember that it's all part of the ebb and flow of trading. Obviously we're here to make a profit, but there are definitely going to be losses on our trading journey. My goal is always to stick to the plan and stay in lock step with the back-tested approach. That helps me stay focused on the big picture during times when when I take losses.
If you have any questions or feedback, I'd love to hear from you.