Hey Guys,
The market gapped up again overnight and continues to show strength. Check out this chart of the S&P 500 today:
Notice how forcefully it drove through that potential level of resistance. That type of market conviction might bode well for us.
It's almost comical how the stock market's mood has changed in just a week. Last Monday, it was as if the market was in the midst of a catastrophe and the sky was falling. This week, it's as if the market feels everything is fine and robust. It's similar to how our own minds and emotions works sometimes, where some days we can be bothered so much by something that we think is a problem, and then a week later, we're on a completely different emotional wavelength and everything seems fine.
I had a couple stock positions reach their time limits today: HRL and UNH. I manually closed both of them this morning at the opening bell, and both locked in profits.
I have a handful of option positions that reached their time limits today. I'll be manually closing those near the end of the trading session today.
I picked up a couple new positions in the stocks account this morning: CCI and AMT. I haven't had any option trades in a couple days.
If you have any questions or feedback, I'd love to hear from you.