Hey Guys,
The market is at about the same spot as it closed yesterday. It's been a pretty volatile week, with the S&P 500 having a 120-point range. But after all the dust settled, the S&P 500 is back around where it started the week.
My trading accounts ended the week with a thud. I had three positions that reached their time limits this morning, and all three gapped down overnight last night and put me in the loss column. One of my NTR stock positions also reached its stop loss.
The timing of that gap down was not ideal. But what I've found over time, from backtest research and live trading, is that it can go both ways. Also, my approach is all about looking at the big picture, across thousands and thousands of backtested trade outcomes. So I try not to get too hung up on any individual trade outcome. I know there will be gap downs and gap ups, and I know sometimes they will occur right when a trade is about to end. I'm more concerned about the big picture over time. I've learned to go with the flow.
There haven't been any new trades yet today. I have buy limit orders in for the tickers at the top of the watch list (both stocks and options), but none have filled yet.
If you have any questions, just reply directly to this email.
Eric