The majors turned positive in the first week of September. The pattern is so far similar to the price movement of May and June of this year. SPX is less than 2% from the all-time high. As usual, the small caps are legging. RTY has just moved into its VA low while ES closed at the high of its VA. The market is in a tricky position now. Will the bad reputation of September play out again?
My net liq is back above 150K again. I couldn't adjust my delta quick enough when the SPX turned on Wednesday. Leverage is at 3.6 which is much better than above 4 last week. I am breathing easier this week.
I have been watching my position size closely. In principle that I won't add a new position unless there is an old position expired. I will use the weekend to calculate my theory of switching RUT to SPX. How much would it impact the margin and funds for such switches? I really need to think outside of the box now. Otherwise, there is no hope of getting out of the bad satiation.
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