Featured Story
Just when you thought it was safe to buy any stock – selected at random via Scrabble letters – on any dip, with levered money you can’t afford to lose, COVID-19 reappears in size to steal the jam out of your donut.
Last Friday saw surges in COVID cases across many states and news that Apple would be re-closing stores in a handful of states. That sent stocks tumbling. Today – after a few days of exuberant dip-buying, those same states hitting new record highs (and more Apple store closures) sparked an even more impressive plunge (and was not helped by The IMF’s downbeat forecast for the global economy)…
- 0905ET California COVID-19 cases rise 3.9% or +7,149 to 190,222 (up from +5,019)
- 0938ET Texas reported a 7.3% rise in Covid-19 hospitalizations to 4,389 from 4,092 yesterday.
- 1033ET *FLORIDA COVID-19 CASES RISE 5.3% VS. PREVIOUS 7-DAY AVG. 3.7%
- 1130ET *HOUSTON-AREA INTENSIVE CARE UNITS ARE AT 97% OF CAPACITY: CITY
- 1140ET *NEW YORK, N.J. AND CONNECTICUT ORDER VISITORS TO QUARANTINE
- 1400ET *CALIFORNIA HOSPITALIZATIONS UP 29% IN 14 DAYS, NEWSOM SAYS
- 1440ET *APPLE TO RE-CLOSE 7 STORES IN HOUSTON, TX ON COVID-19 SPIKE
All building on one another to slam stocks lower (led by Small Caps) ending the 8-day win streak in Nasdaq (there was a late-day bounce on chatter of $1 trillion stimulus again but a $3bn MoC ruined that fun and games)…
And the result – a collapse below the Navarro lows, back To Friday’s lows…
As Virus fears surge to one-month highs…
Source: Bloomberg
The S&P fell back towards its 50DMA…
And the Dow failed once again to break above its 50DMA…
Momentum continued its rabid bounce back today – after perfectly reversing at unchanged for 2020…
Source: Bloomberg
The dollar was bid today…
Source: Bloomberg
Treasury yields tumbled 405bps at the long-end today…
Source: Bloomberg
Are stocks about to catch down to bond’s reality?
Source: Bloomberg
Or profits…
Source: Bloomberg
And while bonds saw safe-haven bids, bitcoin did not…
Source: Bloomberg
And gold was monkeyhammered too around the London Fix (after failing to break $1800)…
But note that gold’s tumble stalled at yesterday’s fix…
NEVER MISS THE NEWS THAT MATTERS MOST
ZEROHEDGE DIRECTLY TO YOUR INBOX
Receive a daily recap featuring a curated list of must-read stories.
Source: Bloomberg
Silver was hit harder. busting back below $18…
Oil prices tumbled as COVID (demand) and inventory/production (supply) concerns smacked WTI back to a $37 handle…
Finally, we wonder just how far stocks will fall this time?
Source: Bloomberg
And just how quickly The Fed will need to restart its money-printing malarkey…
Source: Bloomberg ZeroHedge
StevieRay Hansen
Editor, Bankster Crime
Don't Miss
U.S. SEC Sues Richard Heart, Hex, and PulseChain on Unregistered Securities and Fraud Allegations Heart Raised Over $1 Billion Across Three Different Unregistered Securities Offerings, the SEC Alleged
BanksterCrime: The U.S. Securities and Exchange Commission (SEC) sued internet marketer Richard Schueler, known online as Richard Heart, and his projects Hex, PulseChain and PulseX,…
Sam Bankman-Fried Maybe Hasn’t Escaped Campaign Finance Charges
BanksterCrime: Sam Bankman-Fried (left) exits a courthouse after a hearing on July 26, 2023. (Nikhilesh De/CoinDesk) Sam Bankman-Fried won’t face a campaign finance charge when…
FTX’s Bankman-Fried Should Be Jailed Heading Into Trial, U.S. Argues–SRH: Fried’s Bad For Cryptocurrency Reputation
By BanksterCrime: A prosecutor said that “no set of release conditions can secure the safety of the community.” The U.S. Department of Justice wants FTX…
Democracy Is How Trump Came to Power. They Are Not About to Allow a Non-career Politician to Ever Take Power
Blog/Civil Unrest Posted Jul 27, 2023 by Martin Armstrong Spread the love There is no question that the real problem here is that the financial…
How Texas Became a Global Mecca for Bitcoin Mining–Greg Abbott The Reason For Success
Miners have flocked to the state since China banned mining in 2021, encouraged by cheap energy, grid incentives and an alignment of values. “Bitcoin is…
