The major indices closed the last week of August with a rally. The Jackson Hole reversal gave a clue last Friday. The downward slope of 50 DMA didn't provide much resistance. SPX is in a Fib retrace/ABC pattern or an inversed head and shoulders pattern on the daily chart. It's in an upswing period seasonally. Mr. Market may tell us its true intention next week or so.
IBP Netliq is down 5% from 346K to 328K (including the 10K to BOA). For accounting purposes, this Friday, Sept 1 is counted into next week. The options' value is up 13% from -170K to -195K. The leverage is up 7% from 89 to 96. The realized P/L is -$64,370. It's bigger than last week's -40K. The collected cash is only $3120. The total positions are 9 SCs and 11 SPs. The number of positions is the same but reversed in directions. I made 69 trades in the 4 days and paid $300 in commissions.
I didn't switch my bearish bias quickly after Friday's Jackson Hole reversal. My SCs were concentrated on this week. It was a double loss after being hit on the SP side last week.
The two small accounts ended in the dump for the third month. The rally of last week pushed them back under the water again. The realized P/L is $20996. The total cash collected is $3285. IBP and TOS made $2154 and 1131 each.
The lessons and plan will be addressed in my August review.
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