Wow!!! What a day!!! How did you ride out today? Were you buying? Selling? Short, perhaps? Or just relaxing in cash? Maybe it depended on the time of day today. I hope it did. Because today was such a wild ride that what was right at one moment was wrong the next. That in and of itself is very exciting and kinda scary all at the same time. But mostly exciting, so I might be a little crazy. So let me walk you through what I did and let me know what you think. I’m really curious to read how other traders navigated today’s market.
Starting out the day, the Dow was up as much as 160 points. All was green. And like Monday, IT and Finance were up, so I started buying. My first wave of buys were about 30 minutes into the trading session and were: CMA at $99.799 and TXN at $109.6816.
Then CMA and TXN went green, so I kept buying. The second wave of buys came about an hour later and were: SYF at $37.265, ORCL at $51.445 and STX at $53.5161.
Shortly after, the market turned a bit and my stop triggered for SYF at $37.335, TXN at $109.9262 and CMA at $99.855. All small gains. At this point I’m still holding ORCL (at a loss) and STX.
But, the market was still up so I decided to buy TROW at $113.58 and NAVI at $13.2251. I was definitely in an aggressive mood today.
Then the market really turned. Stops triggered for TROW at $113.76, NAVI at $13.255 and STX at $53.64. Again, all for small gains. Notice that I’m still holding ORCL. This will come back later so stay tuned.
Remember 2 lines ago when I said I was in an aggressive mood? Well, it gets better. So the market comes back positive. For a moment. Very slight moment. And what do I do? Buy!!! Why? Because I was in a mood. So I bought MU at $49.3252, which I could have done without.
Now I’m holding ORCL and MU and the market is starting to tank. The funny thing is that they didn’t tank too bad. They hovered between a 0.5% and 0.75% loss. So nothing to freak out about.
It gets better. We get into the last hour of the session and we are in a serious freefall. And then I had a moment that reminds me of when you tell your friend, “Hold my beer, watch this!” Then you do something stupid that ends up on YouTube or it works out on accident. And still ends up on YouTube. That is what I did when I decided to short PSX at $90.921. For some reason, I have a thing for shorting gas companies so this was as good an opportunity as any, I guess.
So I’m coming up on the end of the session and I finally sold ORCL at $50.911 and MU at $49.105, a 1% and 0.5% loss, respectively. The good thing is that my stunt of shorting PSX actually worked out for another small gain. I bought to cover at $90.485.
All of that craziness was worth a total of… Wait for it… A loss of $80. But I really don’t care. I had a blast doing it. I’ve spent more than $80 before and had less fun. So, I know that may sound weird, but this is what excites me. Now we get to see what happens tomorrow.
I really hope you enjoyed my adventure. Don’t forget to comment below with how you did and what you did. And finally, if you had been following me on Twitter you would have known some of this before this post, so go follow me right now. I hope you all close out the week strong and I’ll check back in later.