After the pullback of last week, I was expecting the downward movement to continue based on the deteriorating pandemic and economic conditions. The majors turned out to the opposite of my expectation. The 20 MA and 50 MA supported SPX and RUT respectively. The majors continued to rally on horrific jobless claims and NFP report. The market is often trying to fool most investors most of the time.
My net liq is above 100K again. It closed at 105K today thanks to the rising stocks. The leverage is still above 5. The available funds are enough without adding hedges for this weekend. Next week's expiration may be tough if the majors continue to rally. I think the majors will retest the breakdown area of last week at least. NQ already recovered its loss of this year.
I failed to take stop losses for most of my ETFs. I reversed one position from short to long in Fidelity which recovered some of the losses. I need to keep my short term trade with the trend. Also looking for some sort of confirmation before pulling the trigger. I must continue to work on my stop losses.
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