Week 3 Performance Update

Tough week!

This month is looking like January 2018. Crushing bull move and perhaps an elevator ride down soon. Last year the peak was on Jan 26th. If the market loses any momentum this coming week. We could see a quick rush to liquidate and take profits.

Or maybe not…

I lost all my long deltas at this point. My short ES future was closed luckily before all the positive news came out on the trade deal. My hedge position was taken out on my gamble with the ATM short calls. I didn’t want to continue the hedge by buying SPY at this point near the resistant level.

Positive news out of the White House help breaks the resistant easily. Now I am positioned to be short SPY at $265. I am already short on DIA and IWM is near the money.

Where to go from here? Not being short ES took the pressure off tremendously. So I will hold all these new short ETF positions and let it play out with short covered Puts.

We are nearing cloud covered resistant level, and that should put pressure on the bulls to keep this market moving up.

The account is back down to 0.23% for the year. Happy to be positive still after this week.

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