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Market Misimpressions 5/12/20


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To correct any misimpressions I may have given-

I'm not that wise. I have not yet moved permanently to Europe. I came on an extended trip and was expecting to return to the good old USA in June. I was supposed to be in Nice France right now. Instead, I'm locked down in Zagreb, Croatia. I will be here until at least June 16, which is now the earliest date that Schengen Area entry will be permitted. There are no guarantees, however.  

I was planning to resettle in Nice at the end of this year, but I suspect that French long term visa rules may change. 

Anyway, I was not so wise to have planned and executed my permanent escape from the US yet. That's now very much up in the air.  And even if I had been, I'd be in France, which has its own set of problems with the virus. Actually, where I am now, purely by happenstance, is probably one of the best places to be.  

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Second, over the past 6 months I have spent about 3 evenings on researching my ancestry-- about one third of my waking hours on those 3 evenings. I'm definitely interested in connecting with my past relatives.Maybe that's because unlike most people 69 years of age, I have no descendants and no immediate family on whom to focus my hopes, dreams, and worries. So I've spent about one 180th of my time researching my family history. 

The other 99.54% of the time I've spent focused on living in the present, trying to figure out what this market is going to do next, and looking forward to a hopefully better future, in whatever remaining time the good load has in store for me.  

Here's to a more fulfilling future for all of us humans. 

Dicsucs. 

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Yep, you're luckier than a lot of people, Doc.  It's the nowhere to run, nowhere to hide scenario so it seems you've picked a pretty good place to sit it out.  I'm finding the whole coronavirus thing absolutely fascinating.  Human nature at its best and worst ....

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57 minutes ago, aussiebear said:

Yep, you're luckier than a lot of people, Doc.  It's the nowhere to run, nowhere to hide scenario so it seems you've picked a pretty good place to sit it out.  I'm finding the whole coronavirus thing absolutely fascinating.  Human nature at its best and worst ....

I'm not seeing much best, outside of the first responders, doctors, nurses, and hospital workers, grocery store clerks, bicycle delivery people, who do what they have to do.  

Then I walk around the streets here and see no one wearing a mask or paying much attention to social distancing. And I see and hear the stories of millions of people complaining back home. A small minority of people have been forced to be heroes.  Nurses are society's best in my opinion. They're prone to heroism. Some doctors as well. 

But too many other people's behavior has largely been dreadful.  

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LEE'S FREE THINKING

China to Nix Trade Deal? Bullish! – Daily Stock Market Setup – May 12, 2020

by Lee Adler •  • 0 Comments

ES Futures Chart

Rumor has it that China will say bye bye to the trade deal. Futures were down when that “news” hit the Twitter. Now they’re up. 

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22 minutes ago, fxfox said:

MUST READ

New York Fed Announces Start Corporate Bond ETF Purchases on May 12

by NY | Press Releases | Markets & Policy Implementation •  • 0 Comments

The Federal Reserve Bank of New York today announced that the Secondary Market Corporate Credit Facility (SMCCF) will begin purchases of exchange-traded funds (ETFs) on May 12.

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4 hours ago, DrStool said:

I'm not seeing much best, outside of the first responders, doctors, nurses, and hospital workers, grocery store clerks, bicycle delivery people, who do what they have to do. 

That's probably because you're in a foreign country where you don't know many people apart from those providing services.  The local community here have really pulled together and are making sure everone is ok.  Texts have been flying around saying let us know if you need anything .. rainbows are appearing in windows, on fences and footpaths ..

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