There are so many sayings and expressions around the concept of hope.
The most recent, and the one that was identified with a successful Presidential campaign, was “Hope you can believe in.”
“Keep hope alive,” was a rallying point of Jesse Jackson and chanted at some many venues.
“Hope is not a strategy,” is something that’s frequently said when it comes to investments.
For me, I was just hoping to get more trades done today.
I did keep the streak for 2017 alive by making a trade today, but there were so many that I wanted to see made today.
Why that matters is that my 2017 strategy has, thus far, been more of a “hit and run” one.
I want to sell as many calls as I can, especially on non-performing holdings, at whatever strike I can in order to generate some meaningful income revenue.
This week, following the end of the January 2017 option cycle, I have lots of those non-performing positions.
Because my sites are set on the weekly options, especially with earnings up and coming for many of those positions, the loss of a single day of trading means the loss of perhaps up to 20% of the premium.
So I mourn the loss of today for its vanished opportunities.
I hope that those opportunities come back tomorrow.
What there may have been this morning, as the market was nearing its low, as the DJIA was down nearly 100 points, was an opportunity to spend money.
The problem is that I really didn’t want to spend money, even as a couple of positions that I had my eye on did look more appealing, including The Gap.
WHat I really wanted to see was a nice climb higher today.
Nothing beats selling calls into strength and then not minding if the strength later erodes, so that you could potentially get an opportunity to do it all over again.
But I’m always hopeful.
For me that is a strategy and it is the kind that I can believe in and work hard to keep alive.