There was no follow up from yesterday's sell off. US indexes gaped up and made another V shape bounce. Both SPX and RUT took out their prior day highs. RUT even made its weekly high and closed up 1.5%. SPX erased the loss from yesterday with a little extra gains. Both of them are now parked on top of their balance area and looking to challenge new highs. Even the broken QQQ gained 1.68%. It was a big revenge to yesterday's sell off. Today's driving force related the positive results of US bank stress test. Fed approved these big banks dividend distribution plan after hour and futures jumped again. We may see another gap up tomorrow with month and quarter end window dressing efforts.
Made 6 trades today. Sold 3 bear call spreads for clients. I don't have any room to do it for myself now. Closed couple of puts. Couldn't buy enough call hedges on this trend up day. I have 2 days left to hedge for the long weekend.
Net liq got hit hard by 14K, pushing it near 126K. Margin ratio is below 30% and near my warning level. This revenge pop may have leg to new highs. I have to prepare to wire funds in again, hopefully not before the long weekend.
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