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

Friday | September 25, 2020

Hello Eizell.

YESTERDAY'S CLOSING PRICES

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DAYS UNTIL ELECTION = 38
Days First Debates = 4

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YESTERDAY: September 24

SPX 3246.59 +9.67

The day was crazy, but so was the news. The whole world is off its medication, and the markets can't decide if it wants to believe Jekyll or Hyde.

Actually, this market is more like Sybil (than Jekyll and Hyde). Sybil was a real woman from Minnesota (just like the other crazy – Ilhan Omar) named Shirley Mason who had 16 different personalities/possessions. Minnesotans, what is in your water? :)

The market seems to have at least 16 personalities too. We saw a bunch emerge yesterday.

TRUMP EMERGENCY

The market opened lower and staged a good jump higher, having some in the media think we formed a bottom. Then during a press conference, Trump had to run out for a emergency call. What could it be?

COVID STIMULUS

We had the market pump-and-dump on the potential for a second round of covid stimulus cash. The democratic party seems to have over reached on their wants and wish lists for all kinds of pork in the bill, and the republicans turned them down. Thinking it would backfire on republicans, the democrats didn't care. Public opinion, surprisingly, is not blaming the President or the republicans, so now the democrats are under pressure to get something done by the election.

PELOSI and MNUCHIN

The markets climbed, but fell once again after a report came out that there were no meetings schedule for Pelosi and Mnuchin to talk about the stimulus.

OTHER

There were a lot of other things concerning the markets, including an asteroid the size of a school bus buzzing past earth today. Was it going to hit the earth and turn humans into dinosaurs 2.0? Was this why Trump had to leave the meeting fast? Seriously, I never understood why the end of the world has people selling stocks/money sitting in cash going to help you when all earth's vegetation is gone? Only bullets, beans and band-aid will matter.

Up until the close, the market was jumping above and below the unchanged line with no clear direction. After several days of very heavy selling, we did not see a definitive bottom; however, we did see a modest close higher. The SPX closed up 9.75 (0.30%), the Dow closed 52 points higher (0.20%) and AAPL closed higher by $1.10 (1.03%).

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TODAY: September 25

DAYS UNTIL ELECTION = 38

Days First Debates = 4

TODAY Higher open to sell.

Yesterday's bounce was not convincing. Typically, serious bottoms are created with huge buying throughout the day, and the market closes at the highs of the day. We closed $32 points below the day's highs.

With the debates only days away, the chaos in the world, no enthusiasm to buy, the market still higher on the year, no deal on stimulus close, and a lack of a solid bounce yesterday....I think we have to suck buyers in and test the lows again. Who knows anymore, though.

NEXT BIG DAYS:

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.

2020 ONE-YEAR PREDICTION:
Average year with lots of intermittent volatility
(+0.49% so far)

POT Logo


A separate update coming – GOOD STUFF!


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LAUGH OF THE DAY

Trading is a tough job on a stomach void of coffee and humor.
You provide the coffee and we will take care of the rest.


Here comes more riots. Why didn't they call a social worker in to talk the alligator away.

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