Hey Guys,
The market had a red day yesterday. Today, the S&P 500 is up 10 points to start the day.
In terms of closed trades, I had good news with my stocks account and bad news with my options account.
With the stocks account, three different trades locked in profits this morning. HTHT and JCI both gapped up past their profit targets for slightly oversized profits. And W reached its time limit and came out with a small profit.
With the options account, it was the opposite experience. I took some tough losses on tickers like NTES, BIDU, and BABA. These are tickers that I've had success with in the past, but this time they didn't pay off. This is the worst week I've had for the options account in the last few months.
As tough as that week was for the options account, I'm going to stick to the plan, as I always do. Sometimes a rainbow shows up right after a storm, in trading and in real life. What makes trading so hard is that there is real risk involved, and no guarantees of what will happen next in the market or with any given stock.
I took on just one new trade so far today. I bought shares of CPRT in the stocks account.
If you have any questions or feedback, I'd love to hear from you.