The market experienced a wild swing this week. It started with the biggest one day drop (-3%) of 2019 on Monday. It was triggered by the Chinese currency devaluing to above 7. The market feared if the trade war spread into a currency war. Then, it poped the next day following an overnight reversal in the index futures. The majors recovered most of the losses by Friday.
My portfolios were hit pretty hard on Monday since they were vulnerable from last week's retrace already. I had to reverse positions to add deltas and net liq. I realized this could cause problems when the market holds or quickly recovers. That is the cause of my previous failed recovers. I need to figure out a better way to void these vicious cycles.
Net liq fall to 13.2K. It was better than Monday's 11.5K. I thought I had to borrow funds again. I hope I don't have to unless the low of Tuesday breaks. VIX could still go up quickly if any bad news pops up. The trade war appears prolonging.
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