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Prepared by and Scott
Writing under the nom de plume of J.L. LORD

Friday | March 20, 2020

Hello Friend.

Resending the morning report for today. We have been having issues about emails going to people's spam folder today. Since we have received many emails asking about today's newsletter, we are resending it again to the entire group. Our apologies for any duplications.




What it all comes down to
Is that everything's gonna be fine, fine, fine
'Cause I've got one hand in my pocket
And the other one is giving a high five

—Alanis Morissette


The night session was a schizophrenic tennis match of the Minis opening up +50, falling to -110 net change. Then they bounced again to +5. From there they fell to -80 for the open.


This is a market that (to me) lacks direction and has a good balance between bulls and bears, with a lot of cash waiting to pick a direction.


Once again, we are seeing Johnny stick his head through the door. Insanity time, as the market opened with the SPX -78 lower. We ran up to reach a +68 net gain. Then we fell on the close. Much of the easing of tension was due to oil climbing $6 for the $20 area. Come on....if everyone who uses oil (airlines, railways, industry, plastics, etc) doesn't hedge their future needs at these levels, they should not run a company.

It was the quietest day of the month with the Dow in ONLY a 1200 point range. Think about that.


TODAY: March 20

(ever notice how you never see Bernie Sanders and Colonel Sanders in the same place?
If Bernie starts promising FREE CHICKEN, we have our proof :)




This is a market that (to me) lacks direction and has a good balance between bulls and bears, with a lot of cash waiting to pick a direction.

Wednesday Night

The previous night and tonight's NIGHT SESSION was schizophrenic. Above (YESTERDAY section) I spoke of the violent swings from the previous night.

Thursday Day

We opened down -78. We then ran higher to +69. We then sold off to close +11. NUTS, and this was only a 1200 Dow range day.

Thursday Night

The Minis opened down and fell to -45. They ran back to +2, and fell again. At the time of this writing, they are up 47.


If there were still a lot of nervous people wanting to sell, we would not be moving up and down this many times in a row. Those who wanted to sell seem to have done so. Time for me to get long. VERY LONG. VERY, VERY LONG – but hedged.

We were down 37% during the Spanish Flu. This is NOT the Spanish Flu. Also, we have the Fed spending TRILLIONS, money coming in from all over the world to the US, 0% interest rates, etc.

I say give the whole country a 3-week break to rest from the work-a-holic lifestyles we lead compared to say, FRANCE, GREECE, etc. We will all come out better. Only problem is Hawaii just closed its shores, so I will keep working. Come back next month with the Dow opening at 25000.

S&P 500 Price Limits

From 8:30 a.m. to 2:25 p.m. CST, there are successive price limits corresponding to 7%, 13%, and 20% declines below the previous trading day’s reference price.

From 2:25 p.m. until the 3:00 p.m. CST close of the cash equity market, only the 20% price limit will be applicable.

You’re braver than you believe, stronger than you seem and smarter than you think”.
—Christopher Robin, Winnie the Pooh

Average year with lots of inter42mittent volatility
(-25.77% so far)

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SPECIAL 59 minute BONUS class this morning on the Jelly Roll.



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Really quickly...

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You provide the coffee and we will take care of the rest.



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