Bulls are back in charge after last week's retrace. It was a wild week. SPX was knocked down on retesting of the double top at 3020. It gapped up and made a new all-time high 3026 today. It ended the week at ATH. RUT followed a similar path of SPX. It's about to challenge the 1600 mark. AMZN had a disappointing earnings report yesterday. My exit target is way off.
My net liq stayed at 150K range. I have not collected many premiums this month so far. Luckily, all of our long puts were closed out today which gives more rooms to roll up bear calls. Leverage is at 3.7.
My search for new trading strategies didn't make much progress. My fear of losing is still the roadblock. I need to choose a service provider and develop my own system on top of the service.
Saturday, July 27, 2019
Saturday, July 20, 2019
Topped Out? 7-19-19
The majors closed in negative territory this week. SPX fell below the 3000 marks. RUT is still the weakest. It appears the tops are in. The market may be retracing before the FOMC at the end of the month. It also could be the beginning of the summer pullback.
My portfolio is stable with the delta in ranges. I couldn't exit any positions due to the pullback. I am a little too heavy on the long put sides which worked during the runup from early June. I had a short IWM put didn't work out. I think this wave of the upswing is over unless the Fed surprises the market again. Earnings season is muted so far.
Net liq is still around 150K after I returned another 5K to E-Trade. Leverage is at 370s. I think the slow uptrend provide me a stable portfolio.
My new strategy search is stalled after disappointing C-2 and Stockhoot results. I am back to consider trading ETF or stocks. The key is to overcome my fear of losing. I need to build a clear and calm mindset. Back to the research again.
My portfolio is stable with the delta in ranges. I couldn't exit any positions due to the pullback. I am a little too heavy on the long put sides which worked during the runup from early June. I had a short IWM put didn't work out. I think this wave of the upswing is over unless the Fed surprises the market again. Earnings season is muted so far.
Net liq is still around 150K after I returned another 5K to E-Trade. Leverage is at 370s. I think the slow uptrend provide me a stable portfolio.
My new strategy search is stalled after disappointing C-2 and Stockhoot results. I am back to consider trading ETF or stocks. The key is to overcome my fear of losing. I need to build a clear and calm mindset. Back to the research again.
Saturday, July 13, 2019
The Three Majors At ATHs 7-13-19
I can't believe that I missed two weekly reviews before and after the July 4th holiday.
The three majors (ES, YM, and NQ) are holding at ATHs at the end of this week. Only the small cap (RUT) is still 10% from its ATH. It's turning up on the weekly chart. Overall, the breakout of the majors may have legs supported by the Fed's dovish position.
I am still using the same rolling up strategy with shorter expiries and aggressive long puts. It's working so far as long as the trend doesn't change. Monitoring our positions sizes and deltas are the key. It won't work once a deep pullback comes, such as the 10% pullback of this May. I haven't found a good way to hedge more than 5% pullback.
Net liq is above 150K which is better than June's average. It's partially due to the rais of my stock holdings. Leverage is at 3.7 and the option value is below -400K. It appears it's easier to manage the portfolio with a slowly rising tide.
I have made some progress in search of a new addon trading system. The keys are time frames and margin requirement. I have to overcome the fear of loss as my major shortcoming.
The three majors (ES, YM, and NQ) are holding at ATHs at the end of this week. Only the small cap (RUT) is still 10% from its ATH. It's turning up on the weekly chart. Overall, the breakout of the majors may have legs supported by the Fed's dovish position.
I am still using the same rolling up strategy with shorter expiries and aggressive long puts. It's working so far as long as the trend doesn't change. Monitoring our positions sizes and deltas are the key. It won't work once a deep pullback comes, such as the 10% pullback of this May. I haven't found a good way to hedge more than 5% pullback.
Net liq is above 150K which is better than June's average. It's partially due to the rais of my stock holdings. Leverage is at 3.7 and the option value is below -400K. It appears it's easier to manage the portfolio with a slowly rising tide.
I have made some progress in search of a new addon trading system. The keys are time frames and margin requirement. I have to overcome the fear of loss as my major shortcoming.
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