Friday, June 5, 2020

Are We There Yet? 6-5-20

It's a big up week for the majors as the third consecutive weekly gains. SPX closed at 3194 after briefly breached 3200. It's only about 60 points from the big breakdown week back at the end of February. RUT has been behind SPX and NQ. It also closed at 1507, above its 200 DMA today after the big boost of NFP No. The majors may be closer to their destination in the upside, or not? NASDAQ made ATH. Is it a clue for the rest? 

My net liq is at 95.8K after the big 2.6%, 3.8% pop today. My portfolio is too vulnerable for a big move in either direction. The leverage jumped to 5.65. Luckily I exited 3 long puts today. I may benefit if the market takes a breath next week. 

I am still struggling with my disciplinary issue. I didn't obey the stop rules and the accounts suffered. My Elite Option service lost money again because I didn't follow the stop loss calls. I have to stick to the stop-loss rules or I won't be able to stay in this business. My old thinking pattern comes in every time when I need to stop loss in a position. I must recognize and correct this bad habit.  

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