Hanging On A Thread 2-22-19

The bulls kept charging up on this unprecedented recovery. The majors closed up for the 9th week despite all of the overbought indications. I don't know how to explain the situation but admit the fact.

Had to wire another 10K from selling my IRA holdings. My net liq is only $500 above the water line again. I am in a hard and rock place since I don't have enough margin to reverse my positions.

I will have to wire in a bigger amount of funds by selling more IRA. The dilemma is no immediate hope to get my deep ITM positions out. 

Unstoppable Bulls 2-15-18

The majors closed their 8th week of gains. It's incredibly strong. Technical indicators are in extremely overbought conditions. Of course, the market can stay in extreme territories than I can stand. I think the dovish Fed is the main force behind it. The US-China trade talk progress provides sentiment catalyst. SPX and RUT are close to 2800 and 1600 respectively.  SPX is firmly closed above its 200 MA.

My portfolio took more damage this week. Net liq dropped below 100K on Tuesday hit by a 1% pop. I had to wire in 10K from selling my IRA holdings to cover it. It was all gone by today with another 1+% pop. My delta is totally out of balance. I was hesitated to reverse my short calls when I had enough net liq. The constraint was the available funds. It's the dilemma I constantly facing.

Net liq is closed at 95K. Leverage is at 6.4, close to the day before Christmas on the sell side. I have to find another 10K next week to shore off my account. I am incurring taxes when taking IRA fund out and paying 10% interest to borrow these fund. It's a loss/loss situation. What's the best way for me to get out of this hard and rock place?     

Is The Bull Exhausted? 2-8-19

The majors break even with a few points up on today's closing. I thought yesterday's selloff was a turning point. Then, today's drop and pop seem to show that bulls are still strong. The downtrend lines were broken for the majors and they are trying to hold the gains. The dovish stance of the Fed may have changed the market fundamentally.

I barely survived another week, perhaps due to the smaller market movement. I still don't have a new strategy to get myself out of this hole. Any aggressive approach requires more buying power. I may have to get a large amount (30-50K) from my IRAs since I have used up my regular accounts.

The N.L is only a few thousand above the watermark. Leverage is above 5 for the week. The delta is negative to the downside after I made an RR in SPX. Luckily I rolled my RUT bull put on the same side today. I altered my plan today. I was going to make my adjustments after 2pm. The selloff in the morning session spooked me. I didn't think the majors could stage a full recovery which rarely happened on a near 1% selling day. I was concerned that I may not have enough time to roll the 11 ITM positions across all accounts.

Closing Up Again 2-1-19

FOMC and NFP late this week boosted market confidence and powered another break out for the market. The majors closed up in the sixth consecutive week. It may be a new record for the last 10 yrs at least. There was hardly any pullback days during January. The much-anticipated retest lows have not happened. I am still waiting for the 2nd shoe to drop.

My portfolio was pressured further by the bulls. I had to wire in another 6K to shore off my net liq after hanging on a shred for 2 weeks. The hole is digging into my IRA accounts now. Do I continue to defend my portfolios with borrowed funds or face the consequence of liquidation?

Net liq is around 105K. I used to have 150K as my lower limit, then 130K, 120K ... Leverage is above 50 now. Another sudden and big drop in the market could hit me from the other end too. I have been monitoring the number of my positions on both sides. I am using Delta to keep the balance and try not to add more positions when I can.