The majors finally pulled back a little for this weak. But they are still hanging on the upper ranges. SPX refused to go under 3100. Dip buyers kept the market on holiday rally. MACDs are crossing down on daily. But the weeklies are still strong. RSIs are not terribly overbought. The market may be waiting for the trade trounce. There could be a blow-off top with the news. The old saying: buy on the rumor and sell on the new.
Net liq stayed above 140K for this week. The leverage is slightly below 4. The portfolios are stable for the week, except for the SPX 2810 SC in my personal account. It's stretched to the 30K limit. I had to wire another 5K in to rescue it. But how long can it last? I was able to close out two SPX LP and two RUT LP. I rolled out an SPX 3110P and a RUT 1610P. I will be glad to see the majors pull back some next week.
I need to review my current rolling strategy and practice. I basically didn't make much progress for my clients' accounts this year. For my main account, I paid back 38K to ET and covered my monthly spendings. It's not going to fully recover for another year or two if I continue to practice the same way.
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