The market staged a rally in this holiday-shortened week. It's the first positive week in June after three negative weeks. SPX and RUT closed above 3900, and 1760 respectively. But they both are still below their 20 SMA. This is still a down-trend rally so far. Let's see how long this summer rally could last.
My IB Netliq made a new low of 65.5K. It's down 6.2K for the week. It was slightly delta negative. I often seem to be late in the game when the trend changes. My hands are tight by the margin limitation. The leverage set a new high of 854 for 2022. The realized P/L is -$21,281 after the short squeeze. The collected cash is $1150. I will adjust my delta to a more positive stand next week. The 20 SMA could be the next resistance.
The small accounts performed better. I finally unwinded the deep ITM short puts in ET. It took two weeks and over 60K B/P to save a $300 position. It also costs time and the opportunities to make regular trades. It's another lesson in No-stop trading. My ET account is limited to 1X day trade now. I will start trading 0 DTE in TOS. It should be a gradual switch. I will use the attached stop-loss orders, plus hedges.
I knew what is causing my long-term losses. I must overcome the fear of short-term losses.
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