It was a tag war for indices trading in a small range. CL inventory report boost crude oil up 3% which supported market through energy stocks. RUT closed up 0.6%, right at 1400 while SPX added 0.1% at 2399. SPX is likely to close above 2400 for the first time before the week end. Market has no fear now. VIX closed above 10 barely today. The complacency may still last for a while. The force usually strikes when people are not expecting it. When too many people crying for wolves they won't come out.
Made 3 small trades today. I closed my JNUG gold last portion with near 50% loss. Another lesson of not get excited with someone else's trade ideas and cut the loser quick. The other two trades were hedging and exit put. No money was collected. It has been this way for a long time now.
Net liq was down 6.8K. I may have to endure more pressure since RUT formed a bullish engulfing bar today. Although the engulfing pattern doesn't work out often based on my observation. Keep in mind it's a bull market.
No comments:
Post a Comment