Hey Guys,
The market seems to be back into that range it had been in last week. The S&P 500 popped out of that range for one day last Friday, but otherwise it's been between 5,450 and 5,500 for the last two weeks. It's at 5,470 right now.
My QCOM stock position from the double down account reached its time limit this morning, so I manually closed it. That one ended up with a partial loss. The double down account had 9 wins and 1 loss last month, but it's not getting off on the right foot to start July.
I took on some new positions today. In the main account, I bought a stock position for NVO. In the options account, I bought options for ABBV. Those are both companies from the Healthcare sector, and a lot of stocks in that industry went down in price this morning. Let's see if it proves to be a good "buy low" opportunity. NVO, in particular, has been extremely strong this year, and I had a couple of really nice wins with it earlier this year.
I have a lot of positions open right now. My main account is filled up and has no available buying power at this point. And I have six option positions open right now in my options account. When there is a large fleet of positions like this, it means I have a lot of risk on the table. The more positions I have open, the larger potential reward and also the larger potential drawdown. This week's activity could have a big impact on my account values.
If you have any questions or feedback, I'd love to hear from you.