Hey Guys,
Well that was a fun morning. There were lots of profits targets being hit.
In the main account, FNV hit its profit target. In the extra options account, JD and SLV both hit their profit targets. In the low-priced account, MGM and SLV hit their profit targets. BLDR also hit its profit target in the afternoon yesterday. I did have a couple of losses in the low-priced account (BEKE due to hitting its time limit and MPC due to hitting its stoploss).
HUBS went on a pretty wild ride, but a lot of people may not have even noticed since it happened after hours. Its earnings were released yesterday after the market closed, and the price after hours went below where my stoploss was. But my exit orders are always "standard" orders, meaning they are only active during normal trading hours. So if the price of a stock moves after hours, it will not trigger any of my exits. And it's a good thing in this case that it didn't, because by the time the market opened back up this morning the price of HUBS was already back up near breakeven (and as of the time I'm writing this it's showing a profit). It's interesting to notice that there was no benefit to monitoring the price activity after hours, since 1) I wasn't going to make a trade after hours any way, and 2) the price can move a lot before the market opens back up. It might be entertaining to watch the price activity after hours, but it may not be worth getting emotionally invested in.
I picked up new positions in all my accounts. There are still plenty of pullback trading opportunities even with the market at its all time high.
I have a lot of options positions that have a "Closing By" date of today. There are nine in total. I'm going to close all of those near the end of the normal trading session today (within the last 15 minutes or so before 1pm Pacific Time). For stock positions that reach their time limits, I close them first thing in the morning. But for options, I close them at the end of the day.
If you have any questions or feedback, I'd love to hear from you.