The bulls are not tired at all. the sentiment is so bullish when bad news couldn't knot the market down for more than 1 hr. Then, any good news could rally the market for days. I often underestimate the extreme levels the bulls and bears could push to. I didn't act in a far sight view to aggressively adjust my portfolios. Of course my new rules of "Not adding positions" didn't work for current one-sided price actions.
Net liq is down to 142K. The leverage is above 4 after several long calls are off the book and the majors broke out to the upside. I am heavy in short calls now. My clients' portfolios are in similar conditions.
I didn't spend time to trade ETFs this week. I thought the longs are too high and the shorts are not low enough yet. So, I was right on the shorts but missed the longs.
No comments:
Post a Comment