SPX held above 4540 for more than 2 weeks. It finally broke above 4600 after the better NFP today. It closed at 4604, a new high of 2023. SPX ended with 6 consecutive winning weeks. Divergences are developing between MACD and SPX prices. The daily MACD has crossed down for 3 days. We may see some kind of seasonal retrace soon.
IBQ Netliq is up 3.7% from 258K to 268K. The realized P/L recovered $18545, including last Friday, Dec 1. The collected cash is only $1059. The delta is deep in the red. The options' value is down 4% from -276K to -265K. The leverage ended flat at 143. The total positions are C 8 -2, P5, -3. That's the area of improvement. I made 60 trades in 6 days from Dec 1 to Dec 9. It's an average of 10 trades per day. My main focus was on reducing positions.
The two small accounts didn't get much relief with this rally. The collected cash is $3230 for the 6 days from Dec 1 to 8. IBP and TOS each got $1522 and $1708. There are 2 SCs in each account, the same as last week. The drawdown has been 6 months now.
Lessons and Plans:
1. I consciously followed the rules of the position sizing this week. It may not be comfortable to follow the rules. It's necessary to do so for the long-term benefits.
2. The delta adjustment must start early in the trend. I should realize and overcome the fear and uncertainty.
3. I am continuing to study the 1-1-2 strategy. Plan to add it to my trading next year.
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