Hey Guys,
The market is right around the same place as it closed yesterday, which is down off its highs from last week. The S&P 500 is around 4,365.
This week, we've taken some heat on some of our positions. It's totally normal for that to happen, but it can feel weird after coming off such a strong week where almost everything we touch turned to gold. In reality, there are going to be losses on the journey. And even the wins often take heat on their path to victory.
So this trading approach requires patience if you want to stick with it for the long term, which can be hard since there is real risk involved. If you notice that you're really uncomfortable this week with some of the positions in the red, then that might be an indication that your position size is too big for your personal risk preferences.
I picked up a number of new positions this morning. In the main account, I bought WSM and TSM. In the options account, I bought options for AXP and IBM. In the double down account, I bought stock for TEAM.
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 their profit targets first.
If you have any questions or feedback, I'd love to hear from you.