Hey Guys,
The market is down again this morning. The S&P 500 is right at its lows for the year. We'll see if the prior low ends up serving as a support and preventing further decline, or if the market breaks through this level. It's right around 3,590 right now.
TCOM turned into a wild ride. It didn't have a great day yesterday out of the gate. Then it gapped down overnight, which was a bit of a gut punch. But the real hammer dropped this morning with a bright red bar.
Along its way down this morning, TCOM qualified for my double down trade strategy criteria, so I picked up another stock and options position for it. TCOM also hit the stoploss on my original stock position.
What's interesting about TCOM is that is was showing strength over the last month when the market was showing weakness. But over the last couple days, it's noticeably underperformed the market, which was already performing poorly itself. That relative strength disappeared the last couple days. Let's see if it bounces back and rewards us for the double down position.
If you have any questions or feedback, I'd love to hear from you.