10/01/2020 Market Recap

[Cobra]

Two reversal like bars in a row, so still a pullback of some kind should be due soon.

[Cobra]

SUMMARY:

Range day, not much to say.

NOTE:

Right - called a range day here (viewtopic.php?f=2&t=4236&p=287843#p287843)

Right until the news - called the low was in here (viewtopic.php?f=2&t=4236&p=287846#p287846).

N/A - just a comment saying I'm watching, not sleeping (viewtopic.php?f=2&t=4236&p=287857#p287857).

No clue what the market was doing till the close.

The close.

DISCLAIMER:

The trading log above is meant for myself only which main purpose is to help improving my market sense.

• My blah blah about how the market would go in the next dozens of minutes everyday in this forum, is a way to force me to focus on the market, because by speaking loud, if the prediction is wrong, I'd be embarrassed, which of course I'd like to avoid as much as possible.

• Day trading is not my strongest point. Just for the same pattern, it can repeat frequently on the 5 min chart while on daily chart it may take months to appear once and another month to know whether the idea of trading such a pattern is right or wrong THIS time, so practicing on the 5 min chart is a fastest way to learn to trade.

• Day trading inevitably would have good days and bad days, it's a part of the game. If I always have good days, it means I'm either lying or already the richest person in the world (then why I'm still trading?), so please don't blame me for making any bad calls. The log is for myself only, not meant to be followed.

[JFR]

SPY daily. Up 2.15 for the day. No change in status. Maybe a tiny bit inclined up, but not reliable. Resistance at 340. Another bird is hovering over the wire, watching and deciding.

[JFR]

ES 5 minutes. That is a serious crash overnight within 15 minutes. One wonders if it is the Covid related news.

[Cobra]

ES 5 minutes. That is a serious crash overnight within 15 minutes. One wonders if it is the Covid related news.

2020-10-01_22-02-34.png

Trump test positive. Actually it's just a matter of time he'd be infected.

[JFR]

ES 5 minutes. That is a serious crash overnight within 15 minutes. One wonders if it is the Covid related news.

The attachment 2020-10-01_22-02-34.png is no longer available

Trump test positive. Actually it's just a matter of time he'd be infected.

And here is the headline ...

A matter of time. I agree. It seems there are different degrees of the infection. Could be life threatening, or to a lesser degree. It hit Boris Johnson hard, and he is much younger than Trump.

Playing with fire the whole time, no mask, no distance, many many interactions. As with everything with Trump, it is shocking, but also not shocking. If he had respected the danger of the virus, he could certainly have avoided it. Even little stores have screens up to protect clerks. We see him leaving his helicopter, walking side by side with military aides, chatting, no masks.

It throws curves at the election. We see the initial reaction of the markets. Effect on the election --> not good for his prospects, it seems very evident, aside from the sympathy for any victim of Covid 19.

[1der]

ES 5 minutes. That is a serious crash overnight within 15 minutes. One wonders if it is the Covid related news.

2020-10-01_22-02-34.png

Trump test positive. Actually it's just a matter of time he'd be infected.

And here is the headline ...

A matter of time. I agree. It seems there are different degrees of the infection. Could be life threatening, or to a lesser degree. It hit Boris Johnson hard, and he is much younger than Trump.

Playing with fire the whole time, no mask, no distance, many many interactions. As with everything with Trump, it is shocking, but also not shocking. If he had respected the danger of the virus, he could certainly have avoided it. Even little stores have screens up to protect clerks. We see him leaving his helicopter, walking side by side with military aides, chatting, no masks.

It throws curves at the election. We see the initial reaction of the markets. Effect on the election --> not good for his prospects, it seems very evident, aside from the sympathy for any victim of Covid 19.

Screenshot_20201001_225931.jpg

Is it really true ?- "This is the season finale cliff hanger episode" - Dallas :Who killed JR Ewing? comes to mind. Was Bolsanaro's "infection" the trial balloon for this? Who is going to validate this independently?

I apologize for thinking in conspiracy terms but this is very convenient and very well timed. I posted up the scenario where the markets go straight up with a scary drop or two , eg. if Biden looks too good, see my post in Weekend Update May 23rd.

It will be interesting to see how this progresses.

Edit to add this:
This is classic:
>> Trump’s public schedule for Friday has been stripped of everything except a noon phone call “on COVID-19 support to vulnerable seniors.”