The market didn't take a breath as usual after yesterday's 1.5-2% break out. SPX and RUT added another 0.7-0.5% today. Shorts felt the squeeze. It doesn't look like a head fake anymore. SPX and RUT may retest April highs of 2013 and 1159 respectively, then possibly march into a new high for SPX before June's FOMC meeting.
Seven trades today across my accounts. I added more bear call spreads for July strikes with most in SPX. All of my personal and managed accts are filled with at least one positions. Now I just need to wait patiently to add the put side when and if the market pull back.
Risk factors are down to my watch levels as I am heavy on short side now. Margin ratio is at 46%. VAR reached $80K at the highest level of the month. I will hold back for adding positions and try to close close couple positions before this Friday.
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