The majors booked another week of gains. SPX closed at 3097. RUT is also close to 1600, the big round number. The year-end rally is marching on. I have been waiting for a pullback but it hasn't happened. My contrarian thinking often became wishful thinking. It seems a habit now. I need to base my thinking on the current facts.
I was able to exit SPX 3070 LP and RUT 1565, 1575. But my total positions remain the same except I reversed a RUT short call to long put. Deltas are very negative. Only a 1-2% pullback could help balance it.
Net liq is back above 140K. The leverage is above 4. I prefer it stays in mid 3. My ETFs are all shorts. My view of the direction is not in line with the market and I haven't been flexible to adapt to the market. I failed to take stop losses of my IWM put entered before the trade agreement. I let it stayed there until it expired worthless today. It is a $250 total loss. Until I can take losses or reverse positions quickly to preserve my capital I won't make it in my ETF trade either.
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