After the worst Christmas Eve in history, the market has its biggest point gain ever. My account rebounds with the market. I was down about 20 percent for the year at the lows. Made back maybe 8 percent during the rally.
I rolled down, then up, down than up, trying to stay near delta neutral on a lot of underlyings. I made a bunch of trades. It reminds me of speed chess, when instinct takes over. There doesn’t feel like there is time to think, just glance and react.
I’ve gotten used to these short posts, without all the detail, so may stay with the format for a while. Anything is possible. If someone had asked me for the odds of a 5 percent market decline on Christmas Eve, I might have said less than one percent, then it happened. So new highs or new lows are possible. Being down about 12 percent for 2018, makes my opinion less valuable.
I’ll post a recap of 2018 in a few days. Happy New Year.
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