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

Monday | September 21, 2020

Hello Eizell.



Days First Debates = 8


YESTERDAY: September 18

SPX 3319.47 -37.54

In the Morning Report for Friday morning, I wrote when minis were down -$9, I stated that I suspect we have a higher open despite Minis being lower. The Minis are a good indicator but not fool proof. We did in fact open higher but that got stuffed on a constant stream of bad news.

The triple witch expiration was also a surprise dud with very little buy programs for a change. The day's good news was that Trump stated they expect enough covid vaccine for everyone by April. Then the Democrats pulled the rug out on any additional stimulus after bickering over $1.5 vs $2.2 trillion. Politically, it does not make sense for the democrats to have any deal before he election unless they get a HUGE amount of hidden benefits. Checks going to people right before the election will obviously help Trump, so why do it?

This news, along with more negative talk about Tick-Tock and trade wars was too much for the market which at the lows was down SPX -$64.61 before getting about half of it back on the close.


TODAY: September 21


TODAY Not testing 3400 this time, but possibly higher on the day.

We had a dud of a Triple Witch. There was almost no stock to buy on the open, which is unusual. This is an indication of lack of interest in the market, but may also just be more fall out from Jerome Powell's dud speech on Wednesday.

We also saw Ruth Ginsburg die on the weekend, and the Democrats are already losing their minds over Trump working on his 3rd appointee. More “politics above the people”. The self-servants, are threatening to impeach Trump. Don't worry, they will come up with a reason later.


This petty bickering at a time when the nation is bleeding economically because of covid will not bode well for the Democrats. For a group of bright people, they sure are letting their emotions ruin them. I was in Oregon this weekend, a VERY liberal state. With all the riots and fires, I was expecting to see Biden signs everywhere. I did NOT see 1 Biden sign, but I did see a TON of Trump billboards. It was a surprise to me.

This is yet another sign that the fake polls reported by the fake media are fake. Trump won. That is long term good for the markets, but I am not sure how many special interest sponsored riots will occur after the election. Even if Trump wins 400 electoral votes we may see the results contested. The far left has done what Kirk Lazarus (Morton Downey Jr.) warned against in the movie Tropic Thunder.


Sept 29 – Presidential debate #1
October 15 – Presidential debate #2
October 22 – Presidential debate #3

I am still standing by my prediction (made December 31, 2019) that we will be positive for the year and making new all-time highs by the end of the year. I maintained this stance even when the SPX was down -36% for the year (this has been here since January 1).

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.

Average year with lots of intermittent volatility
(+3.91% so far)

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A separate update coming after last Friday's special class on JELLY ROLL. We showed how to take a $165,000 margin trade down to a $30,000, and then shave another $10,000- $15,000 off of that.



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