Down days are hard

Today was hard. When the market just drifts down and down all day, it’s a struggle. Because I’m a permabull. I want the market to go up. I like upward trends with pull backs that offer me a chance to enter a trade. My ratio of CALLs to PUTs is like 90%. It feels insulting to bet on a stock falling. I know I should be objective but there it is.

The DOW opened at 38868 and closed at 38170 - down 971 points. And it really only rallied the last 30 min.

The good news. I think there are some great long term buy opportunities. I’m thinking shares. Today I purchased UNH at $433, F at $9.25, DIS at $83. This week I’ll look for other long term entries.

We purchased a Walmart and a Costco CALL option for the short term.

I think these are good moves but they're hard to find. Seeing most of your positions down for the day is disheartening. Bullish sentiment is on holiday and I can’t wait for it’s return. I’m an optimist. If I were a futures or SPX trader, taking the 30 second breakout down would have been a massive winner. But I’m just not built for PUTs. Sigh.

Trade smart and let’s hope turnaround Tuesday keeps it’s promise.

Take care,

Paul