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

Wednesday | April 8, 2020

Hello Eizell.

YESTERDAY'S CLOSING PRICES

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YESTERDAY: April 7

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


From MORNING REPORT on March 20, 2020

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This was the third day in a row the markets opened higher. The markets closed on Monday higher by 7% and opened yesterday by another 3%. It was a decent year over the last two days – if it held.

MARKETS

The SPX opened higher by 93.21 points with the futures hitting 2750 exactly. The Dow was up over 900 points with airline stock like BA and AAL doing much of the heavy lifting.

At about 11:15 Chicago time, another 250 billion was approved for the SBA loans, and after that the markets started to slowly give back all their gains. By the end of the day, the Dow was down 26.12 and SPX was down -4.27.

Part of the selling was blamed on oil drifting lower by $2. Part of the problem was the constant politics of the virus instead of a united front. Part of the selling was also attributed to the magnitude of the bounce we had over the last few sessions probably being a bit premature simply because the curve in Italy, Spain and New York were flattening.

Governor Cuomo was not on television begging for ventilators he didn't need after the state sold the ones they did have before the virus. It is now coming out that New York sold their ventilators to raise money because their “tax and spend” system was spending more than they were taxing. Yet in February of this year, New York earmarked $33 billion on green energy – not ventilators or medical supplies.

I am just hopeful and happy that their numbers of infection are coming down, and that they didn't need as many ventilators as feared.

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TODAY: April 8

Slight pull back on the open?????

Yesterday, I stated I thought we would see a slight pull back. We got it, but not before a strong run higher. Very strong. I am looking at MINIS right now which are up $10, but still think we will get a slight drop.

REMINDER: We have a short week with the markets closed on Friday.

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

2020 ONE-YEAR PREDICTION:
Average year with lots of inter42mittent volatility
(-17.55% so far)

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POT CLASS TONIGHT. FUN TIMES ! ! !

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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.

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