Daily Results for 2/28/20
Two systems had short trades today. One of the trades had the shortest duration of any trade I’ve ever made. Spring ES entered a short at the exact same moment that Fed chair Jerome Powell released a statement saying the Fed will do whatever it can so support the economy (he says “economy” but that really means is “the stock market” – the economy is fine). Spring ES was stopped out within seconds as the algos responded to the statement. This reaction also caused a stopout for the Cheetah Vol short trade.
This was one of the wildest days I’ve seen. It was historic. The short covering rally at the close moved the ES over 100 points up in about 20 minutes. Good reminder that anything can happen in the market.
