The major indices booked another up week. SPX is up 4 months in a row and hit another ATH of 5137. The bulls are defying the gravity. The animal spirits are taking over the rationales. The market tends to go extreme in both directions. RSI shows overbought conditions in weekly and monthly charts but not daily. The Fibonocci targets for SPX are 23%, 5150, and 50% 5195.
IBP Netliq is up 4% from 177K to 185K this week till March 1st. The realized P/L is -$21434. The collected cash is only $1066. I didn't have any BF trades this week. I focused on adjusting the delta and exiting SP positions. The delta is still -175. The leverage is down slightly from 301 to 290. After so many in and out, the total positions are C7 -3 and P8 -2. That's progress. There were 80 trades this week. The total commission cost is $324. The 2nd XSP 1-1-2 expired in profit. I didn't add any 1-1-2 this week for the same reason as last week. The QQQ and VIX hedges failed to work. I should roll them out to extend the hedges in the future.
The two small accounts slipped further into the holes as the rally continued. The realized P/L is -2298. It was helped by IBP's Inverted RR and BF trades. The collected cash is $5896. IBP and TOS got $3454 and $-153 each. TOS is in the worst condition with 12K b/p left. I will change TOS trading strategies once it's out of this swamp.
Lessons and Plan:
1. My rules for delta adjustments: 趋势决定，远调近出, 先远后近，先大后小.
2. adjust my biases and positions when and if the market conditions change. I should adjust the delta according to the current trend.
3. Remember my daily intentions are "Keep calm, Stay disciplined."
4. I may have a subconscious fear of sudden liquidation breaks. It doesn't happen often. Keep in mind the 80/20 rule.
5. The added mid-day meditation has helped me to stay calm.
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