March went out roaring like a Lion.
Rally almost fizzled out Friday or so it seemed for most ( and for us as well ). Bond markets were shaken up badly as 3 headge funds were rumoured unloading late Friday and that spooked everyone. Margin calls were flying everywhere for overly leveraged and that is exactly why they call "Leverage" as a double edged "Sword".
Carry trade currency pairs also broke through supports and have since stabilised. After 8 down days in a row ( and that is really quite rare ) $DXY has finally found some strength and headed higher to atleast touch the 74.50 level. Non Farm Payroll numbers this coming Friday at 8 30 AM sharp will be quite another story.
Hopefully lose hands and weak Bulls are shaken out in Stock markets as well. $VIX has spiked higher this morning and back down again since and that should calm the nerves a bit.
We have entered three new trades .. all Calls in AAPL, with 3 different time lines and strike prices. Other two trades in $OEX and SPY were rattled in this Bond market nervousnous and drawdowns everywhere and we are trying monitor and manage best we can.
As long as we are not overly leveraged, all positions in Options trading can be adjusted and managed, inspite of all the restraints and factors.
Watch continues and we still eagerly await our much anticipated Rally.
Good day ahead.
Harry
