The majors booked their fifth positive week. The much-expected sellers and retest of the recent lows have no signs of it. This Tuesday's 1-1.5% drop was fully recovered by Friday with a strong trending up day. It's an overbought market technically speaking. Of course, the market can stay in extreme condition for a long time. Earnings season may have provided some support for the bulls. FOMC of next Wednesday could be a catalyst for the market.
My holdings are pressured further on the long side this week. I wasn't aggressive enough in adjusting my delta. I thought Tuesday's pullback was the beginning of the selloff. But there was no follow through. I have noticed that adjustment often came at the late cycle. I tend to be more reactive than proactive.
My net liq is below 100K again on this Friday. It recovered on Tuesday's selloff after the MLK long weekend. I made a couple adjustments but my delta stayed below -100 throughout the week. Options value got pushed above -400K with an increased number of positions. I will have to wire my last batch funds in on Monday if the majors go up again. I need to be more aggressive in adjusting my positions without increasing the total count. I am going to look for other methods to survive.
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