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

Thursday | October 29, 2020

Hello Eizell.





YESTERDAY: October 28

SPX 3271.03 -119.65

The day started with the return of Corona 2.0. News came out that France and Germany were going back to lock downs, and cases of the virus were rising in the Midwest of the US. Illinois and other places also stated that they were getting more restrictive. This brought back memories of March and April, and sent the SPX down over 48 points on the opening tick. From there the Minis kept falling, and within the first hour, the Minis were down -90.

Once down -90 points with he Dow down almost 1000, the market sat in a very tight 20-point slow moving range as Senator Ted Cruz attacked Jack Dorsey (twitter), and to a lesser extent Zuckerberg (Facebook) and Sundar Pichai (Google) for being a non-elected branch of the Democratic party and acting as a Super Pac. The market didn't seem to care.

When comparing these companies covering up Hunter Biden and the fake Russian coup to overthrow a duly elected president, the three amigos feigned remorse and pontificated about changing policy to correct errors, much like me being caught doing 100 mph through a school zone and telling the officer I will get a lighter gas pedal. The market did nothing.

Earnings came out, and the market didn't care. It was ALL CORONA – ALL DAY. On the close, the market had made a small recovery with the SPX down only -85, before a last minute sell program slammed the SPX to close at the lows of 3271.03 (-119.65).


TODAY – Hostage Situation – Bounce on open, and then....?

One of my hero's first used the integral in 1675. How can it be a bad day? Oh, we also saw a massive sell program on the close take the minis down >-25 points lower than where it was. We should see this come back on the open, barring any new news.

Things are going to keep getting weird. Chicago is locking down. Hunter Biden documents are vanishing. National Guard is in Philly. And an asteroid called “God of Chaos” that is 300 meters in length is going to hit earth in 2068. Time to party like it is 1999.

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
(+1.25% so far)

POT Logo

Great class last night as we needed to all get on the same page about what we were going to do should chaos break out during election night, like it did in 2016. We were not organized then to take advantage of 1000 point moves at 10pm, but we are now. IF NEEDED, I will even set up an online class where people watch my computer during the event.



Up and Running for POT students (so far).

Really quickly...

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P.O.T. Schedule



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.

Getting ready for second wave.



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