The majors moved higher this week. Things are more clear after the Fed held the rate and been supportive of the market. The trade deal between China and the US took the last worry out of the market. The majors broke out to the upside. SPX booked two more new highs. It's on the way to 3180-3200 targets. RUT pushed higher to 1655 and held above 1630 support line. The Christmas rally continues. It appears the major obstacles are removed and the sky is clear. Could there be a sell on the news play again? It's possible but not likely. Wall Street doesn't want to spoil the party and mess up their fat bonus checks.
My portfolios are squeezed again by the trade deal news. My deltas were balanced by Wednesday. The trade deal breakout on Thursday threw everything out of balance. Net liq is back above 130K. Leverage is elevated at 437. I had 3 long puts closed out today while adding one SPX back to it.
I am examing my thought process of why I didn't turn my deltas to the positive side after FOMC in Oct. I guess my approach to the market has been fear-based. Yes, it's true the market goes up like riding a escalate and comes down like an elevator. But I need to follow the trend. Be proactive.
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