The Fed is in play again. The expected dovish statement boosted the market. SPX made a fresh new high the day after the FOMC announcement. It was a triple top. Maybe the third time is a charm. If the high is held then we may see SPX reaching 3000. While NQ and YM are not too far from making new highs, RUT is still far away from its ATH of 1746. The G-20 is another big event at the end of next week. The direction of the trade war is another market mover after the FOMC.
I was able to reduce the numbers of our positions in long puts as the market is holding up. I had too many long positions from aggressively rolling the short calls. It's hard to catch the rapidly moving market. SPX is up 7% this month so far and up 17% for the year.
My net liq is almost back to 140K after paying back another 5K to ET. The leverage is back above 40 which I need to watch it closely. The Options value is also above -400K. That is a key figure I need to reduce.
I haven't made much progress in selecting a new program. I should work on it over this weekend. I need to define my objectives and criteria clearly.
Saturday, June 22, 2019
Friday, June 7, 2019
A Turn Around Week 6-7-19
The majors started to turn around when June began. All it took was that Fed members provided dovish comments. The majors were boosted expecting rate cuts soon. Fed is powerful but often played by Wall Street. The Street is a crying baby and the Fed act like a baby sitter. SPX and NQ made a bullish engulfing on weekly. RUT recovered the lost ground of last week. The bulls are back now. There is likely more upside movement near term.
I started to adjust my portfolios early in the week. Using delta has helped me to prevent my holdings totally out of balance. That's a lesson I learned a hard way. Although my hands are tight with available. I realized that I had added too many bear call positions during the slide in May. That is a dilemma I often face. I seem to not have many choices when the market is volatile. Try hard to find more ways to improve my practices.
Net liq held above 140K. Options value is below -400K and the leverage are in high 3s.
I started to adjust my portfolios early in the week. Using delta has helped me to prevent my holdings totally out of balance. That's a lesson I learned a hard way. Although my hands are tight with available. I realized that I had added too many bear call positions during the slide in May. That is a dilemma I often face. I seem to not have many choices when the market is volatile. Try hard to find more ways to improve my practices.
Net liq held above 140K. Options value is below -400K and the leverage are in high 3s.
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