The major indices ended down for this Labor Day shortened week. There was little economic news for the week. The market moved up and down widely. It closed in a range bound inside-week. SPX ended the between its 20 and 50 DMA. It may be waiting for the CPI report on Wednesday. Seasonally speaking, September is a low return and neutral or bearish month.
IBP Netliq closed up 1.2% from 318K to 324K for the week. It's still down 4K from last week. All the numbers here include last Friday, Sept 1st. The options' value is down 3% from -195.6K to -189.2K. The leverage is down from 96-92. The realized P/L is -$13,090, on top of last week's -$64,370. The collected cash is only $600, plus $1,700 interest for August. The total positions increased by 2 to SC 11 and SP 11. I made 60 trades for the 5 days. It's an average of 12 per day. The commissions cost $208. The week had a lot of effort and a lack of progress overall. I am still in the mud.
The two small accounts are in the 4th month of the dump. The trendless swings didn't provide much relief. They are in the sea-saw situation. The realized P/L is $26,305 in recovery. The cash received is only $1,833. IBP and TOS made $1293 and $543 each.
Lessons and Plan:
1. My intention is calm, patient, and professional. It takes time to root in.
2. The anxiety and fear of losing are two major factors during my work.
3. I am working on my self-discipline. I tend to look for excuses to break my rules.
4. I like this quote: "What you get by achieving your goals is not as important as what you become by achieving your goals."
5. I am considering buying back some ITM positions to reduce my market exposures. I have to reduce my total positions before my October trip to China.
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