It's a brutal week of selling for the US market. All of the majors have had five consecutive days of losses. Price ranges are wild. The losses of the week: SPX -7%, RUT -8.4%, QQQ -8.39%. The biggest weekly loss in many years. The selling accelerated after FOMC raised the rate and projected 2 more rate hikes for next year. The market sentiment is bearish but the selling action is stronger. The 3.4% GDP growth of the 3rd quarter and Fed members dovish remarks couldn't lift the market. Something underneath is going on. The market seems to lost confidence.
My portfolio was hit hard this week. I wasn't aggressive enough in rolling and reversing. I kept thinking there may be a bounce after FOMC announcement. Instead, it was a big selloff. My portfolio is still delta positive despite the added bear calls.
My net liq is at 9.6K. It closed below 100K despite wired in another 10K this Thursday. The Friday's 2% selloff just wiped it out. The leverage is 596, very alarming. I managed squeezed another 10K loan from Fidelity and have to wire to IB this weekend.
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