It's a day of one way drive for all majors. SPX, RUT closed up around 1%. The over sold condition with the talks of tax reform fueled the rally. It may continue for a few days with a possible pause tomorrow. I may try to buy directional calls at the money tomorrow with small contracts for a day to couple days holding time. I need to develop a short term trading systems. Maybe base it on Fib and couple other technical indicators.
Made 8 trades, 6 for clients and 2 for me. Sold bear call spreads to make IC 2 for late Sept and early Oct. Get to watch for upside risk while the uptrend is intact. It's still possible for market to make new highs.
Net liq is down 2.1K. The 2 exited bear call really helped to reduce the negative impact of up swings. Margin is on put side and below 30%. I only got one RUT put hedge in today. Will have to add more before the weekend.
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