Mindful Trader Commentary For August 11, 2022


Hey Guys,


First the fix: I originally had the wrong profit target and stoploss set for the UL options position I posted. It's now fixed and you can see it here.


The market is still in boom mode. It went up again overnight, and the S&P 500 handily broke through that 4200 level of potential resistance. Could be a while before we see any other notable resistance as far as chart patterns go, but with that said, we're still in volatile conditions, which means we're not out of the woods yet by any stretch and the market could switch directions abruptly at any time.


I bought stock for UL in the main account today. I bought those UL options in the extra options account. And in the low-priced account, I bought shares of XP.


I closed out ZBRA for a profit this morning since it reached its time limit. Also, VECO from the low-priced account reached its profit target yesterday. That ALC position from the main account yesterday did indeed hit its stoploss. That was a short ride. That's the only blemish on an otherwise great week. Every other trade I've closed this week has been for profit.


I have a few options positions that reached their time limits today. I'll be manually closing those near the end of the trading session today unless they reach the profit target or stoploss before then.


If you have any questions or feedback, I'd love to hear from you.


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