The majors followed through from last week's upswings. SPX is back into the 3000 territories and almost made another ATH. RUT gained 5% in the week. It's the most advanced in the majors. There is a clear change in buying preference. The small caps and values are in favor now. The FANG is not leading this time. What's the implication for my trading? Is RUT going to catch up and break out the box this time?
My portfolio is hit hard by the surge of RUT and SPX. The delta was pushed deep into negative areas. I had to add more long puts attempting to left delta up. I need to remember the lessons of last May and August. Try not to be too aggressive and get caught in a sudden turn. Next week's FOMC is a major event I need to stay clear off. The market sentiment and wave are more important.
Net liq is barely above 130K. I was able to pay another 5K back to ET early this week. Leverage is back above 4. I am still thinking about and searching for better ways to unwind our positions.
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