The majors have been grinding up for this week with some batter than expected earnings reports. Bulls are buying every dip. All three majors are only 0.5-2% away from their all-time highs except the small-cap RUT. I am puzzled why they didn't take out the highs before FOMC next Wednesday. Are they waiting for the FOMC to determine the next move, up or down?
Net liq stayed above 150K. The leverage is at 360. The slow grinding upmarket is less threatening than the continued falling market. I am glad that I was able to exit out 5 long puts which give me rooms to roll up my short calls when the pullbacks come.
My rule of not adding more positions is working so far. The net liq seems to stabilize. I haven't needed to add more hedges on the expiration dates for the last couple of weeks. Could it be because of the low vol environment? Many of my ETF directional positions have not worked since they are mostly bear positions. I need to be able to flip my market views and act quickly.
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