Hey Guys,
The market is up some this morning and responded well to yesterday's dip. The S&P 500 is around 7,510 right now.
Three trades got closed since my last email. My TGT option position reached its profit target, which was a great turnaround after a sluggish start. My MMM stock position reached its time limit this morning and landed in the red. The toughest trade outcome was the one for SYF. I just entered that stock position yesterday, and it got hammered and already hit its stoploss.
With SYF, it was like I stepped right in front of a freight train. You can never tell for sure in advance when that sort of thing might happen. The trade setup looked great to me, and I'd take that trade again in a heartbeat. Sometimes trades just go very poorly, and one of the challenges of trading is being able to take the punch and move on. That's exactly what I task myself with since my entire approach is based on sticking to the plan.
I took on a few new trades today. In the stocks account, I bought shares of CMS and BIIB. And I bought the options for BIIB in the options account.
My HRL options reach their time limit tomorrow. I'll be manually closing those 30 minutes after the opening bell tomorrow unless they reach their profit target before then.
If you have any questions, just reply directly to this email.
Eric