Hey Guys,
The market sustained its gains from yesterday and hasn't relinquished them. The S&P 500 is around 5,950 right now.
My stock position for AVGO reached its profit target this morning. That was fun to see because that position took some heat early on in the trade. Here's a stock chart showing it:
There is an arrow pointing to the entry (right when the price first got to the blue line). And you can see that the price immediately went down after I entered.
As always, I stuck to the plan. I didn't have a knee jerk reaction or panic. I just gave the trade the space to breathe in order to follow in lock step with the backtested approach. And sure enough, it started working its way back up. The trade ended this morning after the stock gapped up overnight and boosted us to the finish line.
I ended up profiting on AVGO twice this week. It went down far enough initially that it qualified for my double down trading strategy, so I took a separate stock position on AVGO for that.
I haven't taken on any new trades yet today, although Honda (HMC) is in my sights. If it comes down a bit more, I'll be buying it.
If you have any questions or feedback, I'd love to hear from you.