All the majors, except the small-cap, closed in green this week. SPX and Dow made new ATHs while NQ was flagging near its ATH. SPX closed three ATHs in five days. The bulls are well alive with the $1 trillion infrastructure bill passed by the Senator. The only drag is the small-cap. It had a down week and chopped in the 2160 to 2250 range. The typical August slow market continues.
My net liq in IB only gained about $400. The leverage is still at 295. The realized gains are $2300 for the week. There were no premiums left after spending $1200 to roll an SPX SC and a net loss of $317 in my directional options trades. I overtraded the directional stock options this week after last week's luck. I let the loser stayed too long and closed the winner too early. The emotion behind it is the fear of losing. The fear of letting a winner become a loser and hoping the loser to become a winner. I need to study the levels and be patient for the market to play out. I missed managed the big winners, AAPL and AMD, the big loser, GS this week. I didn't trade much in my personal accounts due to the slow market. I traded 3 IFJO in ET. They are all winners due to the slow and small ranges of the SPX. I was lucky to have a quick winner in the GS call. I tend to assume a price range and target which often turned out to be wrong.
I did well in control my trading sizes this week. I stuck to the rule of -1+1 and the bull market cooperated. I will focus on reducing the index positions. I may have to be more aggressive to reduce my position risk before a pullback coming. Also, I want to learn more about portfolio hedge strategies this weekend. I may add a new futures credit trade system in MES which uses a small amount of buying power.
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