Indices gaped up again this morning. The gaps got closed early and buyers stepped in to push the market higher. RUT closed up 1.6% following yesterday's 3% gain. SPX was only up 0.2% while QQQ lost more than 1.3%. New highs are insight for SPX and RUT. What's after new highs may give more clue. Are we going to see another Brixt sustained surge?
Made 10 trades today. I was busy to defending my ITM bear calls. I rolled over these ITM positions based on my rule of engagement. These directional calls helped out as I sold the profit ones and bought more protections further out on dates and kept some small premiums. Over all, I am pressured again with more ITM and ATM bear calls. I am eating my own bite fruits again. Luckily my positions are smaller than the Brixt and last Aug. It appears a year end draw down is under way unless we see a quick turn down after new highs.
Risk profile is mixed. Net liq is hit again with another 16K. It's down to 166K from Nov high of 199K. Margin ratio is up a little to 52% with my heavy hedges today. I have couple more SPY ATM positions to roll tomorrow depending on what market directions we get tomorrow. Right now it appears that bulls are still energized.
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