200K Portfolio = +$600
50K Portfolio = -$2,500
JP Morgan trotted out a bullish analyst to slow down the selling by announcing "time to buy the dip". The reversal made it challenging on the existing shorts. I would agree with the call if the Fed wasn't about to enter a tightening cycle. I thought we had some natural and normal selling today. The reversal was an effort to prop up the market and an "old news" trade under easy monetary policy.
Our algos will take advantage of sharp moves higher but I anticipate the market will rollover. We are neutral at the end of the day and ready to capture a trend in either direction. Two Crude Oil trades were the highlight as well as some profitable shorts on the NQ and ES. We had some technical issues today with Tradestation disconnects and data issues but were able to recover and sync up.