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

Wednesday | July 1, 2020

Hello Eizell.




End of Month End of Quarter
Best Quarter in History

It is almost impossible to find a single analyst from two months who predicted a “V” bottom. They were making up terms for bottoms with every letter of the alphabet EXCEPT for the letter “V”.

Have you ever played Monopoly at a friend's house only to find out you got screwed by some “family rule” that is not written in the book made by Elizabeth Magie in 1902, and published by the Parker Brothers? Our family's rule is that all the money collected for fines, luxury tax, etc. go into FREE PARKING. I was playing Monopoly at a friend's house when I was in 4th grade, and when I saw the father roll “double 6's” he took $500 out of the bank. WTF? What else gives him $500?

Yesterday was the end of the month of June. It was the end of the quarter. It was the best quarter in stock market history. It also happened when everyone slept or was playing the game for a different outcome. Yesterday, we ended the best quarter in stock market history and most participants feel screwed like someone else is getting $500 bills from a fake rule.

No one saw this coming, or so it seems. Do you know how I know? $5 trillion in money market funds still not invested in anything. People are waiting for the second wave of corona. People are waiting for another pull back. People are waiting. And while England slept.....we closed at 3100 in the SPX.

The market had gotten to positive for the year, but pulled back on the second wave/ Big Foot/ Area 51 rumors. Yet, we are only down 4.04% on the year that started at record highs.


TODAY: July 1

TODAY – Lower. Yesterday's +47 SPX move was a little overdone for window dressing.

LONG TERM – NEW ALL TIME HIGHS (possibly), and then a NASTY trade war sell-off – probably after the election.

I expect the day to close slightly lower. We had end of month/quarter window dressing that took the SPX higher by 100 points in a couple days. Fund managers had to buy something – anything. On the open, I expect a pull back as people have not learned their lesson yet. We will make new highs this year.

I don't know if it will occur before or after the election in 123 days. The world be being orchestrated for chaos. The same “geniuses” that predicted Hillary was ahead in the polls by 12 points are saying that Biden is in the lead by 10 points.

I guess dementia is a 2-point handicap at the MINISTRY OF TRUTH as they write double-speak. Perhaps I change my name to Winston Smith, but INGSOC will wreck the markets. I have no idea how “democratic socialism” is different than “national socialism” other than Biden yesterday stated he will revoke $2 trillion in capital gains relief. That alone would take the Dow down 2,500 points.


Italian media LOVES Biden, and they call him RIMBA-BIDEN. A “rimbambito” in Italian means “idiot” or “senile”. Even the media can't hide the very sad fact I wish on no one, that he is suffering from some sort of dementia.

Once it becomes apparent that Biden is in the lead as much as Hillary was, we will make new highs. Until then, there is a lid on this bull market. I HATE talking about politics, but every 4 years it does move the markets. I am NOT picking sides here, rather trying to cut through the noise like I did in 2016 when I said “Trump would win and the market will NOT crash as EVERYONE predicted”. I also said Brexit would happen and the markets don't care.

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 -35% for the year.

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
(-4.04% so far)

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