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

Friday | October 9, 2020

Hello Eizell.

YESTERDAY'S CLOSING PRICES

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DAYS UNTIL ELECTION = 26

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YESTERDAY: October 8

SPX 3446.83 +27.38

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In the previous day's MORNING COFFEE REPORT, it was predicted that we would move higher. It seems to be the established trend as the market makes the bet for a Trump win. Occasionally, things are interrupted with that prediction such as Trump going into the hospital with the corona virus, or stimulus bill falling apart.

TODAY, the market opened higher with renewed hope that Treasury secretary Mnuchin and Pelosi were talking again. This did not stop Nervous Nancy from once again trying to jump into the jaws of victory and pull out defeat – or stupidity.

Yesterday, Pelosi floated the idea of possibly trying to have Trump removed (25th amendment) because of medical conditions related to the corona virus. She should have tried that last week when he was actually sick.

To any normally well adjusted democrat OR republican, this seems completely asinine. I should feel sorry for her as she seems to be suffering the effects of dementia or alcoholism, but the market just seem to discount everything she says so I am going to ignore it.

What credibility the public once had that Trump may have inappropriate contracts with Russian agents, etc. is forever dismissed as the Party That Cried Wolf is just petty and adolescent. If President Trump does do anything wrong, he almost gets the benefit of the doubt that it is just more manufactured games.

This is why American's dislike politicians. Many are self-serving egomaniacs like AOC who demands that the Vice President of the United States addresses her as “Ms Congresswoman” instead of the term that made her a household name “AOC”, which is not disrespectful. He is the V.P. of the United States, not some petulant bartender that won an minor election with a total of under 16,000 votes. I may have more people than that in my database.

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This was essentially a large college class president election she won. Trump has more people at one rally than all the people that voted in her district (for both candidates). She still won, and one can't take that from her, but talking down to the VP is immature, and they are NOT equals.

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I think the voters only keep her around for entertainment purposes as she posts videos trying to understand what a garbage disposal does. It certainly isn't for her brilliant ideas of building a train from California to Hawaii, or tearing down every building (yes, every one) in the country and rebuilding with smaller windows to save energy. That, you have to admit, is ACME CONSTRUCTION funny – but the stock market is done listening to her or Pelosi.

And Pelosi seems to be taking orders from AOC at times. I am not going to say anything derogatory regarding the speaker of the house as she is obviously suffering from serious medical conditions.

This is why the STOCK MARKET ignored the news that they were looking into removing Trump via the 25th Amendment. They have been trying to remove him before he took office 4 years ago. So with the market higher, but in a tight channel for the day, the Minis and other indexes ignored this news.

A last minute buying binge sent the market to close at the highs for the day with the SPX higher by another 0.80%. Airlines and travel stocks extended their gains from the previous day.

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TODAY: October 9

TODAY – More higher.

Like a kid who doesn't believe in Santa Claus anymore, the stock market is still hanging in their with the hopes that the Easter Bunny brings eggs in the form of a corona virus relief Funding Package. And it probably will. You can't stop a politician from spending your money any more than I can stop my ex-wife from doing the same.

They are experts at creating problems and then telling you why they need money to fix it. And politicians are even worse. LOL (You get it? It was a bad joke). This hope and expectation of the inevitable has been lifting the markets for more than three months, and the last 4/5 days more recently. Today will be day 5.

NEXT BIG DAYS:

October 15 – Presidential debate #2
October 22 – Presidential debate #3

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.

2020 ONE-YEAR PREDICTION:
Average year with lots of intermittent volatility
(+6.69% so far)

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Get ready. I am shifting into second gear today in preparing for the elections.

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DISCUSSION BOARD

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Really quickly...

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P.O.T.

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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.

Best politician meme from the debates after TEAM BIDEN insisted on a plastic wall separating the two VP candidates.

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