Saturday, May 30, 2020

The Bull Kept Going 5-29-20

It's another up week. The bull kept going despite the bear's attack. The pattern has been down in the morning and rally by noon until closing. SPX is above its 200 SMA for 3 days. It retested the 200 SMA today and bounced off from there. RUT is working on its Fib 61.8. It closed below the level today. It is still 80 points from its 200 SMA. MACD and RSI are up but no sign of overbought. The US and China tension over HK, COVID-19, and high jobless claims haven't deterred the bulls. 

My net liq barely claimed back above 100K today. The leverage is above 5 again. My RUT risk reversal from bear call to bull put was badly timed yesterday, alone with the SPX 3050 put split. I had to roll the SPX 3050 put to 3040 for Monday. 

I have been trading the two services for about 2 wks now. The shadow trader is slow and conservative. I have made about $100 so far. Peter's daily market perspective is helpful to get a sense of the market conditions. The insight options style is fast and most in day trading. I haven't quite get used to the speed. I am down $1000 so far. One of the reasons is still related to my bad habit of taking stops. I need to prepare for his watch list and get ready to trigger. Also, I need to recognize my emotions and try to control them. It's always the fear and greedy rotating places. I have to closely follow their trading rules. 

No comments: