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People in Hong Kong are coming out everywhere. After 2 months of fear and caution data shows more people in HK died from flu than caught coronavirus. Companies getting back to work. #coronavirushoaxpic.twitter.com/nO7qYcFq7y
To say that moves in the US stock market have been erratic in the past two weeks would be a prodigious understatement: with the Dow Jones swinging by over 1,000 points on nearly 5 occasions in the past two weeks (today’s 970 point move would have been the fifth)…
... traders – holding on for dear life in a market rollercoaster the likes of which have not been seen in years – have given up trying to make sense, and are just praying they don’t lose all their money. “When you have a 4.5% up day in the market and a 2% down day – what does that mean?” Kathryn Kaminski of AlphaSimplex Group told Bloomberg. “It just means we don’t know what’s going on.”
And while futures continue to slide amid a surge in US coronavirus cases late on Thursday with over 2,000 New Yorkers now having self-quarantined, and emboldening what little is left of the bears – recall that heading into this week, single stock/ETF short interest was at all time lows…
… the bulls, who are rapidly losing faith that even the Fed can prop up this market, are pointing to the recent dramatic rebounds in the stocks most recently on Wednesday when the S&P500 surged back above 3,124 (it is now trading well below 2,990), yet which nobody can fully explain because even though there are several catalysts for the rebound that one could point to, historically speaking none of them are entirely satisfying as explanations, andas Nomura’s Masanari Takada writes in his daily Nomura quant note, “we suspect that more than a few investors (whether bearish or bullish) are feeling paralyzed in the face of such unusual swings in the market.”However, it is what he says next that struck us as a stark admission that we have crossed the rubicon into a market that nobody, not even grizzled quant veterans, can explain: “We have also been at a loss to predict the market’s movements, and feel painfully reminded of the difficulties involved in drawing a story from nothing more than day-today changes in the market.“
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The man believed to be coronavirus patient zero in Italy is a Pakistani migrant refused to self-isolate after testing positive for the virus and continued to deliver food.https://t.co/agsIYDXphd
CHEROKEE NATION—Having dropped out of the presidential race, Elizabeth Warren rode in solitude back to her reservation, having failed to take the land back from the pale faces.
“I am sorry, my people. I have failed,” she said somberly, a single tear rolling down her cheek. “The white man still holds our land, and the very trees cry out against them. May Great Spirit grant us another chance in 4 harvests.” The Cherokee people looked confused, so she clarified: “That means years according to the Indian talk book I picked up.”
One very interesting candidate here is Michelle Obama at +2500. Former president Barack Obama has had his pulse on the election in recent days despite the fact that he has yet to officially endorse a candidate.
Biden’s appeal to voters stems from the fact that he was Obama’s VP. Potentially adding Michelle Obama, arguably the single most popular figure in the entire Democratic Party, to the presidential ticket would be a massive boon for Biden’s chances of unseating Trump in the general election.
Michelle has rebuffed talk of running for office, but serving as Biden’s VP would instantly propel her back into the political spotlight.
Democrats are hell-bent on beating Trump in November. They have said on numerous occasions that this is the most important election of our lifetimes. Assuming he wins the nomination, Biden can’t afford to screw up the VP pick. Michelle Obama makes a ton of sense, if she’s willing to do it.
If you’re willing to bet on this, it’s hard to ignore Michelle as a value at +2500 odds.
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Ethan Williams on What is a “Minor-attracted person” (MAP)?: “Yeah, Biden is no doubt a disgusting “MAP”. What do you think about the controversy around “Miss Shirley”? Adult men…” Jun 8, 23:19