Hi everyone, welcome back. Markets have started dropping this week, and my long positions are not doing very well. I expect further weakness, and futures are indicating a gap down on Monday. Either way, I’m not deviating from my original plan, so I won’t be selling unless the stocks hit my stop loss.
I sold C on Tuesday because of earnings, then rebought it at the same price I initially bought it at (68.25). My position is now 50% larger than before, with a tighter stop loss. I also had a limit order to buy WBA which I thought I cancelled, but ended up buying at 46.69 earlier last week.
I am still holding M, which has unfortunately given up most of the gains I had. I’m feeling excessively bearish again, so maybe it rebounds like it usually does when I feel this way.
C daily chart below. I got stopped out this morning at 65.5 (well below my stop loss), which resulted in a 1.4% loss to my account. In hindsight, I probably should have trimmed or sold the position on Friday to avoid a possible gap down today.
WBA daily chart below.
I’m working on fixing the disappeared logo, for whatever reason, it stopped showing up today despite me making no changes to this blog.