Hey Guys,
The market is still showing strength. The S&P 500 is around 4,370 right now, which is above where it was when I emailed yesterday.
My CNC stock position hit its profit target yesterday. And my AMGN stock position hit its profit target this morning.
AMGN actually gapped up past my profit target overnight, which gave me an oversized profit on the trade. And I didn't have to do anything extra to capture that extra profit. It automatically was secured with the existing sell limit order I had placed.
The way that works is that the sell limit order at my profit target is only active during normal market hours; it can't be filled overnight or during pre-market hours. So if the price gaps up overnight and at the opening bell it's higher than the price of my sell limit order, it immediately activates my sell limit order, which essentially sells to the highest bidder that is at the sell limit price or higher. So the order I had in place was able to automatically capture the benefit of the gap up based on how it works.
I didn't take on any new positions this morning. That makes a full week now with no new trades. I have buy limit orders in for the stock and option tickers on the watchlist so that I'm ready when trades start triggering.
If you have any questions or feedback, I'd love to hear from you.