The major indices ended up for the week after three down weeks. The NVDA ER and Jackson Hole generated some volatilities on Thursday and Friday. The majors are still under their 50 DSMA despite the bounce. The SPX downward slopping 20 DSMA is about to cross its 50 DSMA. The downside pressures remain unless the majors move back above their 50 DSMA. We may see rangebound or slightly up-price actions early next week. There are the PCE and NFP next Thursday and Friday.
IBQ Netliq is up 3% from 336K to 346.5K for the week. The options' value is down 4% from -177K to -170K. The leverage is up slightly from 86 to 89. The realized P/L is -$40,059. It was a big hit since I had to roll out some DITM SPs with this downturn. The collected cash is $4,531. I made one BFC on Friday. I should have stayed out of the trade because of the Jackson Hole event. It was a volatile day that ended with a rally. The total positions are 11 SC and 9 SP, up 3 from last week. I made 77 trades with $243 commissions. I need to reduce the number of positions early next week.
The drawdown in the two small accounts continued. I didn't keep my calm during the swings. I bet in the wrong direction. The positions are further ITM on both sides. The realized P/L is -3,185. The total cash collected is $2,243. IBP and TOS each made $1,211 and $1032 respectively. I should be more conscious of adjusting the positions next week.
Lessons and Plans:
1. I should re-examine my assumptions about the direction of the market. Think of other possibilities beforehand. My strong bias may be wrong more than half of the time.
2. Keep reminding myself of the professional standards and conduct.
3. Continue practicing patience and a sense of timing.
4. Set up the S/R levels before the market opens.
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