Mindful Trader Commentary For May 30, 2024

Hey Guys,

The market went down some more since my last email. The S&P 500 is hanging out around 5,245 right now.

I had some positions close since my last email. My HUM stock position from the double down account jumped up and hit its profit target yesterday, just a few hours after I entered the trade, so that was a nice surprise. But this morning, OKTA hit my stop loss after a volatile response to its earnings. I also manually closed my stock position for FMC this morning, which also came in with a loss.

I have a big load of option 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. Right as I type this, there isn't much green to be seen in my option positions. Let's see if that changes by the end of the day.

I took on a few new positions today. I bought shares of SPXL in the main account, and that ticker represents the S&P 500. I often feel excitement when the market itself sets up for the trading strategy I use. I also bought MSFT options in the options account, and I bought a stock position for SAP in the double down account.

If you have any questions or feedback, I'd love to hear from you.

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