Hey Guys,
The market is down a touch this morning relative to Friday's close, but the S&P 500 is still hanging out in a higher price range than it had been in September.
After having a solid week in my stocks account last week (9 wins and 1 loss), this week started out on the wrong foot. My VFC stock position hit its stop loss.
It was a bit surprising because that stock had been within the vicinity of its profit target each of the last few trading days, and then it gapped down far enough over the weekend to trigger my stop loss.
I've seen it before and I'll see it again. Statistically, if you trade for long enough, it's all but certain that there will be trades that get really close to your profit target and then take a dive. It goes the opposite way, too (trades that get really close to the stop loss and then take off). When a trade like VFC happens, I just accept that trades like that will roll around every once in a while, and I move on to the next trade and stick to my plan.
I've taken on a few new trades today. In the stocks account, I bought shares of EMR and PINS. In the options account, I bought options for EMR.
If you have any questions or feedback, I'd love to hear from you.