[Options] Garbage Time
LAST year this week was a wonderful time to lean in heavy long as the markets were getting pummeled (or "glitched," depending on which demigod you pray to), only to race higher for nearly the entirety of 2019. But I can assure you, that was a rare event. I'll rely on smarter guys than me, like Ryan Detrick, to dig into the numbers around this week.
While I won't be entering any new positions until the week of January 6th, I will continue to monitor my portfolio of existing positions. Risk management is a job that never takes a week off. If any of my positions break key levels that signal an exit must be taken, it will be taken. If a profit target level is reached, those profits will be grabbed.
We're all about entering trades with good risk-reward characteristics, and this week the best trade offering the most amount of reward with the least amount of risk is spending time with the people you care about most. Jerry Seinfeld refers to "Garbage Time" as simply being present with your loved ones. Being the best father, mother, brother, sister, or sibling doesn't require any elaborate gifts or grand gestures. It's the little things that we remember. Think back to your favorite early memories of your parents. Was it the trip to Disney World when you were 5 years old? Or was it sitting in your Dad's lap in front of the TV, smelling his coffee, while he was flipping pages in the morning newspaper? Garbage time is wonderful.
Make it count.