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DrStool

Meeting Margin Calls - 3/17/20

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I am absolutely convinced that this was a bottom. 

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8 minutes ago, Jorma said:

Last one.  Fed announces additional overnight repos to insure a smoothly operating markets.

 

 

These are the normal $500 billion afternoon operations that started this week that nobody is taking. 

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3 minutes ago, DrStool said:

I am absolutely convinced that this was a bottom. 

I hope you are right. I was just thinking the opposite as in what is there that is going to get better over the next few weeks? We just had the first day in the U.S. with over 1,000 new cases reported. That's in one day! In about a week we'll have a day with 2,000 new cases in the U.S. And we are looking at inflation in the price of many manufactured necessities even in the face of deflation of raw materials. This is nuts! So my guess is I'm the guy to fade - I may be bottom ticking it for you :) LOL

 

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5 day cycle projection on SPX cash ends at 2625. 3 day 2675. 

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3 minutes ago, sandy beach said:

I hope you are right. I was just thinking the opposite as in what is there that is going to get better over the next few weeks? We just had the first day in the U.S. with over 1,000 new cases reported. That's in one day! In about a week we'll have a day with 2,000 new cases in the U.S. And we are looking at inflation in the price of many manufactured necessities even in the face of deflation of raw materials. This is nuts! So my guess is I'm the guy to fade - I may be bottom ticking it for you :) LOL

 

 

There are orders of magnitude more cases than that. Those numbers count only those who have been tested. Who's been tested? There are no test kits or facilities. No testing, no cases.  Only those who are deathly ill already are counted. 

The US is the worst prepared developed country for this. 

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1 hour ago, SiP said:

what is SAR? Do I get correctly that SA is essential experiential training that challenges sexual values, attitues and belifes?

ar.PNG

😂

SAR = Sell All Rallies

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2 hours ago, sandy beach said:

Wait - what? I must be missing something. What in the world is going on in Chicago? 

I dont know. You have to wait 3 days for gun (!). shortage.

There is no ammo. 

I have brother in chicago, and my brother's wife has brother. He works for Chicago police. They are bracing for riots. really.  

ammo.PNG

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Guns? In Stoolville.  Lee, let's have some order here.

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The outlook wasn't brilliant for the Stoolville nine that day:
The score stood four to two, with but one inning more to play,
And then when Cooney died at first, and Barrows did the same,
A pall-like silence fell upon the patrons of the game.

A straggling few got up to go in deep despair. The rest
Clung to the hope which springs eternal in the human breast;
They thought, "If only Casey could but get a whack at that—
We'd put up even money now, with Casey at the bat."

But Flynn preceded Casey, as did also Jimmy Blake,
And the former was a hoodoo, while the latter was a cake;
So upon that stricken multitude grim melancholy sat,
For there seemed but little chance of Casey getting to the bat.

But Flynn let drive a single, to the wonderment of all,
And Blake, the much despisèd, tore the cover off the ball;
And when the dust had lifted, and men saw what had occurred,
There was Jimmy safe at second and Flynn a-hugging third.

Then from five thousand throats and more there rose a lusty yell;
It rumbled through the valley, it rattled in the dell;
It pounded on the mountain and recoiled upon the flat,
For Casey, mighty Casey, was advancing to the bat.

There was ease in Casey's manner as he stepped into his place;
There was pride in Casey's bearing and a smile lit Casey's face.
And when, responding to the cheers, he lightly doffed his hat,
No stranger in the crowd could doubt 'twas Casey at the bat.

Ten thousand eyes were on him as he rubbed his hands with dirt;
Five thousand tongues applauded when he wiped them on his shirt;
Then while the writhing pitcher ground the ball into his hip,
Defiance flashed in Casey's eye, a sneer curled Casey's lip.

And now the leather-covered sphere came hurtling through the air,
And Casey stood a-watching it in haughty grandeur there.
Close by the sturdy batsman the ball unheeded sped—
"That ain't my style," said Casey. "Strike one!" the umpire said.

From the benches, black with people, there went up a muffled roar,
Like the beating of the storm-waves on a stern and distant shore;
"Kill him! Kill the umpire!" shouted someone on the stand;
And it's likely they'd have killed him had not Casey raised his hand.

With a smile of Christian charity great Casey's visage shone;
He stilled the rising tumult; he bade the game go on;
He signaled to the pitcher, and once more the dun sphere flew;
But Casey still ignored it and the umpire said, "Strike two!"

"Fraud!" cried the maddened thousands, and echo answered "Fraud!"
But one scornful look from Casey and the audience was awed.
They saw his face grow stern and cold, they saw his muscles strain,
And they knew that Casey wouldn't let that ball go by again.

The sneer is gone from Casey's lip, his teeth are clenched in hate,
He pounds with cruel violence his bat upon the plate;
And now the pitcher holds the ball, and now he lets it go,
And now the air is shattered by the force of Casey's blow.

Oh, somewhere in this favoured land the sun is shining bright,
The band is playing somewhere, and somewhere hearts are light;
And somewhere men are laughing, and somewhere children shout,
But there is no joy in Stoolville—mighty Casey has struck out.

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Well, he's tellin' us this
And he's tellin' us that
Changes it every day
Says it doesn't matter
Bases are loaded and Casey's at bat
Playin' it play by play
Time to change the batter

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1 hour ago, sandy beach said:

Here we go down again. Is this thing going back under 2000 on the S&P? 

It would be one of the weirdest things mankind has ever seen if it would not.

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All Ords made a new recent low, closing -6.3%.  Asia was down to varying degrees and UK/Europe is way down on open ..

 

Went shopping today .. not too bad .. no sugar, pasta or toilet paper.  Very quiet, hardly anyone in the aisles.  Maybe the hoarders have entered the exhaustion stage (or run out of $$)

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