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

Wednesday | August 19, 2020

Hello Eizell.

YESTERDAY'S CLOSING PRICES

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YESTERDAY: August 18

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Above are the previous all-time highs. We broke through both the closing an intraday from the February pre-corona prices. It didn't require much of a move higher as we closed just under the numbers as is customary before exceeding them.

10 days ago, I said it would occur last Friday (14th), so I was off by 2 trading day. My bad. It is not as big of a deal as my prediction back in February when I said we would make new highs by the end of the year. That was when it looked like the world was coming to an end the economy was destroyed, and we would have 4 million dead in the US alone. I was one of the only bulls left.

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TODAY: August 19

TODAY – Choppy, but a short squeeze is coming within weeks. If the media starts pointing to Trump being in the lead, it will go higher even faster. Biden's policies are horrific for the markets.

LONG TERM – NEW ALL TIME HIGHS (possibly), and then a NASTY trade war sell-off – probably after the election (This one has been here for WEEKS. Nothing changed).

KOYAANISQATSI – Hopi Indian word meaning “life out of balance”.

People keep asking me, “Why are we going higher with all the problems in the world?”

What is not to love?

So we are now sitting on top of the world. Gold is at $2000 because the US dollar is becoming worthless. Dow stocks are being sold while the whole world is jumping into AAPL, AMZN and TSLA. Schools are closed but bars are open because our education system is so bad you learn more about life in bars. College graduates now are dumber than 8th grade graduates when my parents went to school. They are indoctrination camps. Kids spend $140k on a degree in philosophy and can't pay back the loans because they never took a math class, and refuse to live on mac 'n cheese and ramen 6 days a week like my generation did. My parents lied to me and told me college was a privilege. Apparently it is a right. Not only is it a right, but one where you should not have to lower your spending habits.

A large portion of the population doesn't want to work because the covid stimulus is larger than their paychecks. We have the most hated president running against the most feeble minded. People riot for any reason now, and don't even remember the name of the guy who was killed by the cop that got them so enraged in the first place.

There is NO PLACE to get unbiased news that is not riddled with lies, and anyone who goes into journalism now should be spayed or neutered so we don't have another generation of dolts influencing people. The same losers that told us “there is no path to 270 for Trump” (right, he skipped over 270 to 304) are telling us Biden is going to win. Would Biden even know if he won? I find this hard to believe when 54% of democrats wish there was a different Democrat running than Biden.

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Idiots with masks under their noses are complaining about people with no masks, and wanting the “no mask people” arrested. The half-mask (or 'half-ass”) people are acting superior and informed. They are neither. Wearing a mask under your noses offers the same protection as a condom in your wallet. Apparently, the law says you just have to have one on you somewhere, but it doesn't have to be used correctly.

Meanwhile, every city the country has its own non-scientifically based rules. Some towns hand out huge fines (or arrest) for not wearing masks, unless you are burning down buildings and stealing Nikes. Do these masks even work when a virus is <10nm in size?

I still don't understand why Trump felt the need to pardon Susan B. Anthony for a crime in 1872. Can she legally own a gun and vote now? It is strange to pardon someone for voting illegally, when Trump is trying to stop illegals from voting.

Don't get me wrong...Biden is even nuttier. He is the only candidate that always wants to beat up his own supporters. What will he do to me? The good news is he thinks he is running for the Senate, so he has no power over me from Delaware. I really have empathy for the guy. How did he get talked into this?

BUT....with the Fed pumping money into the system, nowhere else to put cash, and the rest of the world more F'd up than here.....we will go higher for a little longer. Until the music stops and people notice there is more than one chair missing. There are no chairs.

Yes...the world may not have ever been more confusing, strange, against common sense, or seemingly on a path to destruction, but what has that got to do with the stock market? People are still buying iPhones and ordering off Amazon.

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
(4.92% so far)

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TONIGHT'S CLASS: SCOTT'S (TOPIC) PICK

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LAUGH OF THE DAY

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