Talk about an October surprise!
It seems the President has contracted the coronavirus as the Global hoax spreads to the White House. Of course, it's very possible that Trump, who is constantly tested and is surrounded by people who are constantly tested is FAKING the virus to elicit sympathy, give himself an excuse to not be humilated by Biden again in another debate and to make an "amazing" pre-election recovery, proving to his gullible followers how strong he his, probably claiming that he can be their salvation too.
Would that really shock you if it happend? Trump passed 20,000 false statements to the American people way back in July, should we believe this one? After the debate, Trump's numbers have been plunging and the GOP has resorted to using Russian "Deep Fake" videos and images to make Joe Biden look bad – and that's not working either.
If cheating doesn't work ahead of a test, why not fake sickness? It's what a gaint child would do…
So, if the President is really sick, I wish him well – no human should ever have to suffer what 7.3M of our fellow countrymen are suffering under the Trump Administration – not even Donald Trump. But, if he's faking it, then he is the biggest peice of s**t on the planet which is suffering 34.3M infections with over 1M people now dead from the disease the President actively DENIED – not ignored.
Sadly, we have no way of knowing the truth – that has become sadly obvious in the past 4 years. So far, the markets are taking a mild hit, down about 1.5% in the Futures and, fortuntely, we added protection to our portfolios yesterday morning and, in our Live Member Chat Room, we got more aggressively short as I said to our Members:
With the weakness at the top, I'd grab the TQQQ long puts and hold off a bit selling the short puts.
NOW we can sell the short puts – we just wanted to get a bit better price.
Repercussions from the virus are still hitting the Global Economy. Japan's jobless rate is now hitting a 3-year high – AFTER the lockdowns have ended as more and more businesses are collapsing – having not recovered quickly enough. Oil prices are falling again as Global Demand is off a cliff and not coming back, there is still no stimulus deal and there's a very large debt crisis in the US and Globally that no one even has time (or energy) to worry about.
Macau re-opened and revenues are still down 90%, Las Vegas isn't recovering any better yet the markets are still testing record highs. Sorry to bring up the gloomy stuff but I'll keep saying it until someone believes me – better to be safe than sorry in this trading environment.
Have a great weekend,
– Phil
