US indices futures drifted down overnight with Asia market sell off. Shanghai index lost another 3+%. ES tested 1850 after European open, then recovered to yesterday's lower range before RTH. ES had a driving up day with green bars in every hour. SPX closed up 1.4% and RUT gained 2%. Overall it washed out yesterday's losses. The clean deck action appears completed in the down side. Then Apple's earning came out after hour somewhat disappointed the market with guiding down next quarter for the first time since 2003. It looks like that smart phone market is getting saturated. All eyes are on Fed FOMC tomorrow.
I closed 2 sets of SPY puts today and sold some call spreads ES and RUT. I broke call spreads to 2 sets in ET to form two set of IC since the rolled up put spreads were too wide. Let's see how it would work out. I saved two more car buying power there just in case I need to add to my call positions.
Risk factors improved with today's up swings. It made $5.1K paper gains. Leverage is at 4 and buying power at 33% of net liq. I held off the temptations of selling naked calls. I will only work on reducing my positions before FOMC tomorrow.
No comments:
Post a Comment