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

Friday | May 15, 2020

Hello Eizell.

YESTERDAY'S CLOSING PRICES

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YESTERDAY: May 14

The market was off its meds yesterday.

Yesterday's MORNING COFFEE REPORT was done while the MINIS were down -6.50, indicating a lower open. DESPITE this easy call to say we will be lower, my prediction was to close higher on the day. You can see the SNIPET of this below.

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We opened down -20 in the SPX and kept falling until we reached -53.36 (2766.64) after more than expected people filed for unemployment and more analysts predicted a tougher than expected recovery.

The day proved to be a Buster Douglas vs Mike Tyson fight between negative news and rising oil prices. Towards the close of the day, oil ran higher by more than $3 p/b, dragging the market above the unchanged line, and slowly higher. Then at the end of the day, the bears capitulated and started to buy the market, sending the SPX higher by 32.80 points on the close.

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TODAY: May 15

A run back towards the magic 2900 may be in the cards. Recall that this number has been a nightmare for the market. When we get above it the next time, I expect 3000 soon. YES – I AM BULLISH. The markets don't have to make sense – especially when the Fed is turning on fire hydrants of money.

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.

2020 ONE-YEAR PREDICTION:

Average year with lots of inter42mittent volatility
(-11.71% so far)

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Almost started a 5-Year Millionaire. Attempted to do an Iron-Cockroach. Did a call BWB. Took off put condor 20 points off the lows.

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DISCUSSION BOARD

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P.O.T. Schedule

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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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Disclaimer

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