I was throttled today. SPY was up for the 7th straight day. I am giving back major gains from January and February. I am not happy, but you have to deal with what the market gives you. Mr. Market is not happy with me it seems.
Today? Just a resumption of the melt up - led by the XLF up 0.8%. volatility (VXX) was murdered, down 4+%. Complacency is vogue, no doubt. TLT was green pretty much all day which was interesting. The EUR/USD bounced .4%, but not even close to breaking out. A fairly boring gradual move up 0.4% on the SPY
Well, its not the end of the world - but if this continues, I will be in danger of some serious losses on my hands. Today I got even more short, and doubled some SPY puts... Can we be up for 8 straight days? I'm still betting no - but I have been wrong for what seems like an eternity LOL (not really LOL though).
Closed: DNN for 1.5%, CLNE for scratch, GLUU for scratch, CJES for 1%, NFLX for 2%.
OPEN: very large position of SPY puts, heavy SPXU from 29.35 (down 3%), LNG from 22.04 (down 6% OUCH!), VXX (down 5% OUCH!), TVIX (down 7% OUCH), BX (down 3%)... wow. Things are getting close to out of hand. The volatility play are fine with me, and I have plenty of $ to average down. LNG doesn't bother me either. SPXU and SPY puts are very concerning, number one priority will be to sell at least 1/2 my SPY puts tomorrow, hopefully, for some green.
I have averaged down to the 10th power it seems, the story is the same. IF (a HUGE IF) we get a 0.5% sell-off, I will cover most of the above with losses. An 8 point drop, as small as that sounds, would do wonders for my account. A roughly 12-15 point drop, not even 1% would make all of the damage to my account go away. Hmmph.
Take care everyone.