Hey Guys,
First: I accidentally transposed some numbers on the HSY trade when I first posted it. I've since fixed it. Thanks so much for your patience.
The market came down overnight. The S&P 500 is right at the bottom of the range it's been in for the last few days, around 3,965.
Let's see if the bottom of the range holds as a support. That would work out well for me because I picked up more positions today. I bought HSY and CDNS stock in the main account. And I bought HSY and FISV options in the options account.
I also took on two new futures trades in the main account. That means I have three open right now, which is a big load. There are now multiple different strategies indicating it's a good time to buy. I like that sort of confluence of signals. But it does come with a large degree of risk and reward.
One of the futures trades is a long term one. And I mean really long term. It has no time limit and is intended to be held all the way until the market gets back near its original high. If the stoploss doesn't get hit, then that will be a way to cash in on the ride back up, regardless of how long it takes. (Separate note: I didn't post the stock equivalent trade for this because the SPXL ticker isn't designed to be used for longer-term positions like that).
I manually closed all four stock positions today that reached their time limits. All four ended up with partial losses. They are the last of the ones I bought back when the S&P 500 was up at the 4,100 level.
If you have any questions or feedback, I'd love to hear from you.