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

Friday | March 27, 2020

Hello Eizell.




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


Prior to the open, the unemployment number came in a 3.3 million new applications were submitted. This is a huge number under ordinary terms, but we are not living in ordinary times.

So when the number came in, the minis sold off prior to the open; however, it took about 15 minutes for people to put the number in perspective. Once the shock set in, people realized that this is likely a temporary phenomenon, and minis started to climb.


By the open, the Minis were up about +25 points. Once the bell rang, we opened up with the SPX higher by 25 points, and kept climbing the rest of the day. The Dow climbed 1,351.62 points (+6.38%). The SPX closed higher by 154.51 points (+6.24%) to close at 2630.07.

This was the third day in a row higher. It was not just higher, but dramatically higher. We are higher by over 20% off of Monday's lows as seen below. In bullish months, we will get the SPX to move up 100 points. We moved up 445 points in 3 days. That is NUTS.


TODAY: March 27



After 3 days and 20% higher in the markets, we are due for a pause, though not a disaster lower. I am sticking with what I wrote Sunday night, that we saw the bottom (unless this virus mutates into an even deadlier super bug). That does not mean that after 3 days in a row of 6% moves higher, we can't sell of 2, 3 or 4%.

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
(-18.59% so far)

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A separate update is coming.



Up and Running for POT students (so far).

Really quickly...

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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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