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The market crashed 4.5% today, finally!

Account Net-Liq: $7,202.95
SPX value: 3,455.06
Shiller PE: 31.73

The market rallied and reached a 3,588.11 level. All new ATH! Outstanding rally! Unfortunately, that rally was totally unhealthy and pushed up by tech companies only. Many of my positions in all portfolios went pretty much nowhere, the only SPY was relentlessly running up and up every single day. It became frustrating at some point. The problem I got was that I was trying to repair my SPX position. With the rally, I had to raise my puts and calls higher. And, honestly, I started feeling uncomfortable with it.

So, when we crashed almost 5% today, the market sliced through my puts ruining all my effort to repair the trade and release some BP. That is more frustrating as I am running out of cash and repairing the trade was already costly.

Now, will the market drift lower? Continue the selloff? Or are we seeing a pullback that will recover in a few days? A million-dollar question. I think I will start lowering my puts until I can see where we are heading next. However, these violent moves up and then crash back down is frustrating. It diminishes all my efforts.

SPX corrections

SPX chart 4.5% selloff

At least, my Boeing (BA) position which I started repairing sometimes ago is doing well. The difference between BA and SPX is that BA was falling steadily with now violent moves up or down.

BA repair


If you are interested to see what stocks and what options we trade, then join us at MeWe. We no longer participate at Facebook (very little though) but we are active at MeWe.

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