A retest of the Monday low was expected but rather came quicker than I thought. I also expected a higher chance that the retest would be successful giving that a long tail candle bar from Monday night to Tuesday. Until the last hour of the session, the bottoms of the major indexes were falling off. The US stock indexes closed down 3-4% and broken the regular day sessions lows but still holding their balance lows. The only lows have not been breached are the futures tails from Monday night. US stock indexes are officially in their 10% correction territory now after 2 years of a relentless run. It appears it's not over yet.
Made 9 trades. I rolled couple near the money positions for my clients. I finally reversed a RUT ITM bull put back to lower strikes of both a call and put. That release some margin pressure from the put side. I may have to reverse another one if I am under more pressure tomorrow. I have to roll a couple of near TM RUTs tomorrow.
Net liq is down to 122k now. Margin ratio is still above 50% for now. It may be further reduced after the weekend expiries. I will work on margin and positions tomorrow.
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