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

Thursday | April 16, 2020

Hello Eizell.




Horrific bank earnings and NY Empire State manufacturing number combined with a market that has climbed very quickly, and you have a recipe for a 1-day pullback. Add to it oil falling back to the $20 p/b level, and you have a market that can't bounce at the close. The market opened with the SPX falling -50 points, and within the first hour hitting the lows of -84.52 (2,761.54) on the day. Some of the stocks that have become popular have climbed pretty fast over the last 8 days.

AAPL, for example, was at $236.90 on April 2, and was at 288.25 on Tuesday. This is $51.35 higher in 8 days. Facebook did the same thing with a low of 150.83 and a high of 181.23. AMZN had a low of 1889.15 and closed yesterday at 2,333.37.

With these kind of moves, a drop one day is not only normal – it is healthy.



I have gotten a lot of grief when I have stated that I suspect this is a man made disease, and not something people got from eating bats. You can't believe the feedback I have gotten. Yet....evidence is surfacing that it is possible/probable that it is just that. I know some people equate FOX news with other less reputable firms, but I say two things:

  1. We will see
  2. I believe FOX gets things wrong once in a while, but they at least try to get to the truth. They are not like some firms that just manufacture news in a green screen room.

TODAY: April 16

I said it yesterday, but I will say it again today. I was wrong yesterday, BTW.

Minis are down -21, but I will not be surprised if we are higher by the close today. The Fed is pumping too much money into the system, rates are at zero, the virus seems to be under control, they are talking about reopening the country, etc. There is HOPE.

LOOK....This virus sucks, but the numbers we are hearing are lies.

Underestimated Sick

Parts of Chicago are a hot spot. I know people have likely have the virus but when they call their doctors, they are told to self-isolate and ONLY go to the hospital if they can't breadth. Since they are not seen by a doctor or tested they are not recorded.

Overestimated Dead

On the other side of the spectrum is NY which certifies people as having died from the virus EVEN THOUGH THEY HAVE NOT BEEN TESTED.

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 inter42mittent volatility
(-13.85% so far)

POT Logo


It was a great class last night. Despite it being a repeat performance on the 5-Year Millionaire, we used 2 positions we have on as an education tool to clear up any confusion that still exists.



Up and Running for POT students (so far).

Really quickly...

To help in your quest for the best possible options trading outcomes, we would like to know what level of options trading knowledge and skills you currently have. Please click the button below to indicate what level of trader you are? Please skip if you already responded. Thank you for participating.

P.O.T. Schedule to come.


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.

Shopping ever tire you out so badly you had to sit on bread? Probably a nice and considerate guy all other times.



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