Hey Guys,
The market has definitely been volatile lately. The S&P 500 had just exhibited a 100-point rebound at the time I emailed yesterday, and at this point, it's now down 100 points from there. It's been zigging and zagging a lot lately.
I had two stock positions get closed today. My trade for MOH reached its profit target. My trade for PAGS reached its time limit, so I manually closed it at the opening bell. That one ended up in the red, and the two trade outcomes roughly offset each other.
I took on some new trades today. In the stocks account, I bought a position for SAP and another position for BP. In the options account, I bought another set of options for BP.
In the case of BP, the reason I bought another position after already having had one is that it qualified for my Double Down trading strategy. Even though I now have two positions for the same ticker in each of account, each BP position is independent of the other. I'm not merging positions there. Each position has its own separate exit criteria, so even though the ticker may be the same, I treat the trades like they are completely separate.
If you have any questions, just reply directly to this email.
Eric