Futures gaped down on Sunday night. It was down more than 1% for ES and TF by mid night. Market opened with the down move overnight. I was expecting the selling pressure to stay for a day at least. But buyers stepped in in later morning session. At end of the day RUT recovered all of its losses and closed +0.2%, above its Friday closing. SPX all most fully recovered as well, down only 0.10%. It was an impressive turn around. Both SPX and RUT held bottoms of their ranges. However weekly MACD started to cross down from above. Bears are likely to defend the current range highs. We may see a tog war or range bound for a while. As the month end and quarter end nearing we may see more buying activities for window dressing and buy any dip players.
Made 7 trades today. Most of them were hedges on both side, other than sold an IC 2 of April 5 for $430 in ET. Margin is back to call side again. I will have to buy more RUT hedges for next week since I only got calls for this week.
Net liq increased 3.5K although RUT closed in green. Most of it maybe come from the bull puts. My portfolio is out of immediate danger for now unless a +-2% sudden more in the market. I will use this break to learn more hedging techniques.
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