The majors continued their uptrend this week. SPX stayed in the new high territory above 3025 after the breakout on Monday. NQ is in a similar pattern. DJ is less than 100 points from its ATH. RUT is the only one far from its ATH of 1742. But it is ready to break its July high of 1600. Fed cut the rate for the 3rd time this yr. GDP is near 2% and the NFP for Oct is better than expected. Manufacturing is in contraction 3 months in a row but nobody cares. The market usually will go through its cycle and get to a target unless there is a major disruption.
My portfolios are squeezed by the surge of this week. Net liq is at 143K. The leverage is above 4. I was able to exit 7 long puts on the month-end and the weekly expiry. Although most of them are add-ons. I think there is one major in SPX and RUT at least.
I have adjusted my deltas less actively this week. My thinking is not to chasing the breakout and new highs often bring in selloffs based on past experiences. I failed to stop losses on my IWM bear puts placed before the trade talk. I didn't actively manage it rath relied on hope. Hope is not a strategy. My directional ETFs are still too passive in the bear side. I need to be more nipple. Follow my plan.
No comments:
Post a Comment