Hey Guys,
The market came down hard yesterday, to the tune of a 70-point drop in the S&P 500. That index now sits around 5,030.
It felt pretty good to be, for the most part, sitting on the sidelines while that happened. I only have one single position open right now in my main account and options account, respectively, so big market swings like that won't have much effect on my account balance. In other words, the fact that I've taken so few trades recently was essentially profitable yesterday, since it prevented me from getting exposed to losses from the downward swing of the market.
Not only that, but the ticker I bought yesterday (WPM) held its ground despite the market turmoil. I'm actually showing a small profit in both the stock and option position for WPM right now even though the market overall is really red in the last 24 hours.
I haven't taken on any new trades yet today. I'm just staying patient and calm while the market is twisting and turning, and I'm sticking to my script.
If you have any questions or feedback, I'd love to hear from you.