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
Civil War 2.0 Weather Report: The Tsunami Begins, But You Knew That…
If we can stop him, we shall prevent the collapse of Western Civilization. No pressure.” – Sherlock Holmes: A Game of Shadows In the first issue of the…
Read More
Pandemic, Economic Collapse, Full Societal Breakdown
“And the will of Zeus was moving towards its end.” – Homer Symbiotic Disharmony The recline and flail of western civilization beats on. Pandemic, economic…
Read More
JPMorgan Is “Counting The Days” Until The Second Covid Wave
As governments ease lockdown restrictions, attention is focused on the risk of a second wave of COVID-19 infections. And, as JPMorgan writes, “the message from…
Read More
“It’s All Bullsh*t” – 3 Leaks That Sink The COVID Narrative
In recent days a series of leaks across the globe have further shown the “official line” on coronavirus does not hold water… The science of…
Read More
Central Banks Are Destroying What Was Left Of Free Markets
President Reagan memorably said that the nine words you don’t want to hear are “I’m from the government, and I’m here to help.” Governments in all…
Read More