Wednesday, June 6, 2018

None Stop Rally? 6-6-18

The raging bulls are none stoppable at this stage. It feels like early 2017 rally again. RUT/IWM made another leg up despite its RSI at 80. QQQ made its ATH while SPX is catching up with a near 1% gain. Is it the rush before the June FOMC meeting and trade war with China and Europe or just nobody cares? 

Made 9 trades. I tried to buy call spreads in SPY and QQQ long calls. Only got QQQ and missed SPY. It turned up quickly after early weakness. Rolled the last set of SPY long calls of this week for clients. I need to be more decisive in adding positions. I recognized the market turning up but waited for pullbacks never happened. QQQ and SPY may have more room to go. 

Net liq lost another 2.4K and down to 113.5K now. The margin ratio is also down to 38% while the leverage is up to 4.66. The situation is tricky again. 

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