Why is that? There is always unlimited black swan downside risk for longs holding over the weekend? By your logic un hedged positions should never be held over the weekend. Correct me if I am wrong, just trying to understand.
It is an interesting parallel 2000/2020. Y2K liquidity injections in late 1999, the LTCM bailout in Oct 1998 (similar time lapse) to the lows in Dec 2018. The reddit options boards are analogous to the mIRC boards on 1999-00 when there were hundreds (even thousands) of retail specs (not to mention all the prop shops in existence back then). There was a much more organic feel to the waves of buying/selling in equities and the indicies back in those days. The lead up to this major swoon was basically drift higher, panic buying on the open, camp and flatline near the highs of the day. Rinse and repeat. Even during the initial days of the outbreak news, the market was basically repeating similar low vol, up drift with minimal downside volatility (who can forget the AAPL downgrade and the stock still rallying 2 weeks ago).
As a counter-point, this will be third significant swoon in February over the past 4 years. Feb 2016 was an epic downside event, reversed when Yellen decided that raising rates was no longer on the agenda (after turning decidedly hawkish in 2015 and crashing the markets in August 2015 following the FOMC minutes). Then in 2018, we had the VIX-mageddon in early Feb. That turned into a very volatile trading range for a few weeks before it started trending higher into the late Sept 2018 highs.
Aug 2015 was China and the Yuan. So was Jan 2016. Feb 2018 was Powell's first day on the job, and nobody liked what he had to say. Oct 2018 was the fed raising rates. May 2019 was the start of the gritty side of the trade war, with major tariff fisticuffs starting. Aug 2019 was Trump going all Nazi and ordering businesses stop working with China, and MORE tariff fisticuffs. Feb 2020? The first non-man-made event, out of the control of governments and banks. Covid. This one is going to sting, and the algos are going to keep tanking this one. We will not see steady green until the vaccine is developed, or the tariffs are zeroed out. Because there is no reason for the markets to go up otherwise. NONE.
I see what you are doing. Trying to trick the algo's into a flagpole rally to get you out of that Micro NQ trade.