Hey Guys,
The market went on a bit of a roller coaster ride since I emailed yesterday, yet ended up back at the same spot as it was when I sent yesterday's email. The S&P 500 is around 6,420 right now after dropping more than 100 points and then recovering it right back.
I locked in some profits since my last email. My KR stock position finally reached its profit target. I also had a fun outcome for the MRVL trades I took yesterday. The stock for MRVL gapped up overnight, which caused both my stock and option positions for MRVL to generate oversized profits. No action was needed on my part to secure the excess profits; my sell limit orders automatically sold the positions at the "gapped up" price.
I haven't taken on any new positions yet today, but you may have noticed that I now have a second position for NET in my stocks account. That's because NET qualified for my Double Down trading strategy. Even though I have two positions for NET, I treat each one as being independent of the other. Each trade has its own separate exit rules, including separate profit targets, stop losses, and time limits. So even though both trades use the same ticker symbol, I think of them as two completely different trades.
If you have any questions, just reply directly to this email.
Eric