It was the 2nd day when bulls pushed price up then got knocked on their heads. SPX and RUT were down 0.25 and 0.40% receptively. A more telling signal may be on NASDAQ/QQQ which was down 1% today. MACDs are turning down but haven't crossed yet. RUT formed a lower low in the last three days. It had a bearish engulfing candle today. We may see it move down further to 1310-1300 area. SPX didn't break yesterday's low so the bull flag is still intact. It could well be a consolidation before another leg up.
Made 10 trades across board. I followed my plan mostly for these near or at the money positions. But I didn't quite recognize my emotions and acted under the assumption of that prices won't come down enough to let me exit. I didn't think my SPX 2205 could be OTM since I had bad experiences on pined target at expiration days, particularly for month or quarter ends. I tend to panic when the price move to against my positions, instead of watching certain levels to confirm the movement. It's a learning process but need to be consciously practice it.
Risk portfolio is out of the dangerous zone for now. Net liq is up to 142K while margin ratio is above 55% now. This week's ending projection is not looking too bad so far.
I took a pretty bad beat for this election period. RUT continued to be my loss leader. My mark to market loss is near 25K. Although I rolled most of the positions up and collected over 10K premiums. The recover will take well into next year. I need to exam my premium calculation. It seems not adding up correctly.
No comments:
Post a Comment