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?
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