Hi Guys,
The market took another step upward yesterday and this morning. When I look at the chart for the S&P 500 right now, it looks and feels completely different than it did two days ago. The chart now has a bullish look to me, like there is a clear path being made for the price to go back up. That of course doesn't mean the price will in fact keep going up, but the outlook has shifted noticeably since a couple days ago. We're still in a volatile environment though.
There haven't been any new trades yet today. As always, I'm sticking to my plan and will only make new trades when they fall within the back-tested rules of my trading strategy.
My American Express positions are starting to show signs of life. In general my travel-related tickers have not been faring well despite the market's upward movement. RCL, LUV, and DAL are on a different track than the rest of the market. Sometimes I feel frustration when the market goes up and some of my positions don't go up with it. That said, back when the market was taking a dive, I had some positions that did the same thing but in reverse: they were on their own track and didn't fall with the market and held steady. So rather than let these travel tickers bother me, instead I'm trying to keep the big picture in mind and recognize that it goes both ways and that regardless it's all baked into the back tests. It seems like oftentimes, not just with trading but in life, it can be wise to "zoom out" a little bit and consider the big picture perspective.
On Monday my RCL stock position will reach its time limit, so I'll be closing first thing that morning. The second video on this page shows how I go about closing stock positions that reach their time limits.
If you have any questions or feedback, I'd love to hear from you.