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Mar 12 2020

The Beatings Will Continue Until Morale Improves

The reason I stop doing things is I am easily bored, also I get tired.

NBA- Cancelled. NCAA- Basically Cancelled (No Audience). Ditto all our Late Nights. F-1 Ready for off (are you kidding? look at Maranello and look at a map).

This is just the top line of the Economic consequences.

Travel ban to Europe that doesn’t include the UK? I suppose if you’re healthy enough to swim across the Channel no big. Canada is talking seriously about labeling the U.S. a “high risk” country subject to additional screening and less seriously about building a Wall and having the U.S. pay for it.

And Tom Hanks has Coronavirus (and should he survive a lucrative endorsement package). People who compare him to John Wayne (Joe Scarborough) are sadly mistaken. He’s the reincarnation of Jimmy Stewart.

Years ago my mother used to say to me, she’d say, “In this world, Elwood, you must be,” — she always called me Elwood — “In this world, you must be oh so smart, or oh so pleasant.” Well, for years I was smart. I recommend pleasant. You may quote me.

The Dow has already hit a ‘Limit Down‘ and will halt for 15 minutes at the Open while they resolve the +5% 1,200 point drop in Futures overnight after the Unindicted Co-conspirator Bottomless Pinocchio’s pack of lies (Transcript).

After that we shall see. The Market is still overvalued by 50% and there’s no technical bottom though some important negative indicators have already been exceeded with no sign of support.

Sure, bottom feed- if you can afford to hold and take the losses because this is not wrung out yet, the magnitude is barely apparent.

6 comments

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  1. ek hornbeck

    Wow. Jim Cramer (always wrong but still) has gone totally MMT (“They should print the damn money”).

  2. ek hornbeck

    “They Know Nothing!”

    Wow.

  3. ek hornbeck

    Down 7.5%. All red.. Dow 21,856, down 1696.. Trading suspended after 5 minutes.

    Now we can drop 13% wit the only penalty another 15 minute halt.

    After that? If we lose 20%?

    Done for the day.

    50% over valued. I stand by that.

  4. ek hornbeck

    Back again. Down 8.3% next 15 minute breaker at 13%. Over? Under? Want to play in this Casino?

    Bananas. I’m saying that like “Plastics” in The Graduate.

  5. ek hornbeck

    Tea Party Guy (Mark Santelli) saying everything is fine.

  6. ek hornbeck

    Yep. Down 2K at 10 am (30 minutes after open with a 15 minute time out, how Kindergarten is this?)

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