Based on several of the MedCram videos from a week or two back, Dr. S poked at the idea that Chloroquine’s efficacy may in fact be based on it’s activity as an ionophore for Zinc. It helps get more Zinc into your cells, where it can interfere with viral RNA transcription. This then leads to the idea that Zn supplementation, along with Zn ionophore supplementation, is a good idea. Quercetin, a natural bioflavonoid product available at the health food store, is a Zinc ionophore. I am taking both daily.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4182877/
https://www.ncbi.nlm.nih.gov/pubmed/25050823
The dow is down more then -13%
We hit the 2nd circuit breaker! DURING the press conference!
Or was it during the last 35 minutes so it doesn’t count? Regardless; the Dow was down more then 3000 points. That’s definitely a first.
Yee Gads! What a cartoon. I try not to pay much mind to politicians, but this guy is floundering, way over his depth. I am soo glad he’s not my governor.
Trump Literally just said “The market will take care of itself”.
That’s it. I’m capitulating. I’m upgrading this from instead a crash, to a cascade, to now a Capitulation.
The market is done for. He’s detached from reality. The fed has no clue. It’s every man for himself.
It doesn’t matter now how astute the people around him now. The person in charge simply does not accept reality any more. There’s no getting through to such a person. It’s like trying to convince Goebbels that there’s nothing wrong with Jews. It can’t be done.
Even if somebody manages to get through to him at some point, it will always be too late, because he can’t accept reality, only the past.
The entirety of the week will be a bloodbath now. This is an entirely new paradigm. Trump won’t see anything wrong at any point. He’s lying… to himself.
https://www.zerohedge.com/markets/total-fking-global-carnage-worldwide-liquidation-accelerates-despite-massive-monetary
My favorite so far:
https://www.zerohedge.com/s3/files/inline-images/bfm364D.jpg?itok=WJDTea2t
No way in hell we wont pass it. We’re not even close to done.
Grocery stores, completely emptied out. Daughter manages a dollar store, they had to call police, just to get the truck unloaded. Walmart, and Meijers (regional store like Walmart), are both closing at night, just so they can restock the shelves.They can still restock the shelves, which means the empty shelves are a function of panic and poor planning on peoples parts (much like a hurricane or blizzard cause empty shelves.) Could that change in weeks/months to come sure, but that's not where we're at today.
French authorities have warned that widely used over-the-counter anti-inflammatory drugs may worsen the coronavirus. The country’s health minister, Olivier Véran, who is a qualified doctor and neurologist, tweeted on Saturday: “The taking of anti-inflammatories [ibuprofen, cortisone … ] could be a factor in aggravating the infection. In case of fever, take paracetamol. If you are already taking anti-inflammatory drugs, ask your doctor’s advice.” Health officials point out that anti-inflammatory drugs are known to be a risk for those with infectious illnesses because they tend to diminish the response of the body’s immune system. The health ministry added that patients should choose paracetamol – which is known in the US by the generic name acetaminophen and commonly by the brand name Tylenol – because “it will reduce the fever without counterattacking the inflammation”.
Hopin’ for a 1:1 Gold:Dow ratio. $10,000 gold and 10,000 dow. Aaww heck, I’m not greedy, I’ll take $5,000 and5,000 ??
https://www.cheknews.ca/bc-covid-19-30-cases-3-deaths-655259/
total of 7 cases now on Vancouver Island 
BC Heath Authority asking USA folks who are non-essential visitors to not come to BC and those who do come must self-isolate for 14 days.
Desogames, that 3000 point decline in the DOW today may have been the markets first but it was still foreseeable. Indeed I wrote the forecast that this would happen on yesterdays weekend thread. Of course it would have been better if I had taken more time calculating the price bottom for the reversal. My target was 19,590 but what we got instead was 19,975 just to prove I can be inconsistent within a single sentence. After all, the 3000 points was right so it was just my math that got screwed up and made an otherwise perfect prediction look retarded. But I have better things to do. I went long just before the close and I’m ready for tomorrow. The crash has ended.
This is what I wrote Des…
“What I believe is that there could be as much as 3000 points of loss on the DOW next week and we are heading to 19,590 as a bottom that can be bought for a genuine reversal (using the front month contract as my measure here). It does remain to be seen of course and should Dow futures soar Sunday night then feel free to write back and tell me I don’t know what the hell I am talking about. LOL”
f(x)=ab^x is an exponential where there is a VARIABLE exponent. Sorry to focus on this tiny stuff while all this important information is flying around but I want to have Chris and Adam’s back where I can. Peace and best to all.
http://math.andyou.com/pdf/328.pdf
Anyway Deso, the target was a fairly plain vanilla .382 fibbo. That’s it…that is what caused all the headaches and stress today was we had to meet a basic requirement from which a bounce could later ensue. Without that there is no structure and the thing will keep coming back to haunt us and set up MUCH worse problems down the road. So it had to be this way with the day ending in the red and deeply oversold in the zone.
But we are in the clear now.
Don’t go to B.C.!
30 mote cases, is that a cluster or a Boom? Yikes
? oh look, a mask emoji ?
AKGranny
Monday 16 March, 19:00, the Dutch prime minister Rutte gave a speech to the nation, explaining that he has selected the strategy to let everybody get COVID-19. “… we try to use measures to level off and smooth the peak in the number of infections and spread it over a longer period.”
Full text in English here: https://nltimes.nl/2020/03/16/coronavirus-full-text-prime-minister-ruttes-national-address-english
I feel quite depressed. Do I have reason to be cheerful in this madness? Please convince me that this is the right way to go.
I work for a printer and mail house in NH. We get many grocery circulars that get inserted into the weekly mail program.
We received an email today from a very large Northeast chain.
They will be canceling the printing and delivery of all of their circulars for the last week in March. The reason?
“They will not be able to stock items that are in the flyer.”
My takeaway from the press conference today:
All countries should test, test, test to find EVERY case.
The rich western healthcare systems are “lean and mean”, normally operating at over 95% capacity. Efficiency is good in predictable times, it’s not good for meeting the unexpected.
The availability of protective equipment is a serious problem. Therefore health care workers need to get priority - they are the ones most at risk - and the general public should focus on good respiritory hygien, good hand hygien, and social distancing. “Wash your hands as much as you possibly can”
When caring for ill people at home, both the ill person and his/her caregiver should wear a mask at all times. The rest of the family is at risk and should be protected. The ill person should use a seperate beedroom and a seperate bathroom.
The virus is airborne but mainly in hospital situations like intubation. Otherwise it’s maily a droplet infection. It’s unclear exactly how long the virus can stay active in the air and on different surfaces since it depends of a number of variables such as humidity and temperature.
Persons aged 60+ are mostly at risk. Children tend to get mild infections, but there are children who have died, so children also need to be protected.
The mechanisms of the virus in children are unclear, but there hasn’t been any spread among children in schools. A thing to take into consideration when thinking about school closures.
And about contagion: 2 days before onset of symtoms and 2 weeks after symtoms have ended! (That’s how I interpret what contacts of a confirmed case who might have been exposed.)
https://youtu.be/2RMl8yqo6Uk
To make matters worse during this period, it appears that interest rates - in Australia at least - are about to sharply spike. Key reason: funding sources from Europe have just become more expensive for Australian banks. This is direct from a senior banker at dinner last night. [Note that I never taint myself by socialising with bankers, but a fellow exec in my company is married to said news source.]
You still don’t know what the hell you’re talking about. Your week target is 19590. Considering we’re already what? 700 points away from that after a 3k drop in 1 day? Like Goldman calling the S&P2450 target before a bounce would happen.
I did call the bad day though, 5 minutes after futures open. Even though the damn thing rallied after open then crashed on Trump.
Which; by the by, was very telling. Cause it’s a new paradigm now.
The Fed has lost control. There’s nobody in their right mind who still believes anything outside of helicopter money is going to do anything. This we knew. But Trump now has shown himself to be completely disconnected from reality. He literally said “The market will take care of itself”. That means there will be no bailout. It’s not even occurred to him that it might be necessary at any point. We’re lucky to see a shale bailout within the next few weeks. We don’t have a few weeks at this point!
It’s clear now that if you’ll ask him whether there will be a shale bailout, he will say there will be. If you then tell him it’d bankrupt the nation, he’ll tell you he’s working with some very great people who are doing a fantastic job.
No mention of gold by you either @Nairobi. Still holding at 1500. Quite a feat considering how massive the liquidations where today. Not exactly what you’d call bear market worthy.
Silver off it’s highs though! Blew past my own target of -25% from when i bought it in December. Rallied back up to it on the day though. Am i saying it’s over? Hell no this can still go every single way. Money printing might push it up, liquidations might push it down, and i’m sticking with my paper/physical price decoupling. Good luck getting physical when the shop’s closed and your city is under lockdown.
Say what you want. Silver and Gold are safety measures of last resort in the mind of the populace, especially in Europe. In a situation like this where people run for the hills they will buy up all supply. Even if that takes a while. And i bought early so i didn’t have to rely on the market bottom to jump in at the right time. Again; size of entrances and exits…
You know what the problem is? It’s not a dollar shortage this time. Oh sure it’ll show up in the charts like one, because everybody is scrambling for cash. But why are they doing so? Why on earth would anybody hold dollars without deflation? I watched the dollar index, it’s down on the day. If anything that’s inflationary. It’s definitely not the deflationary collapse moves you’d expect.
And why is the cash going out the door as fast as they can get it? After all if the dollar shortage is so acute why doesn’t everybody do the thing they would do in a deflationary period, and hold cash while it appreciates in value?
Cause it’s not a cash problem. It’s a Collateral problem. It’s a Quality problem.
We’ve been trading trash now for decades and the bottom just fell out of the barrel. Now, suddenly, Quality matters again and nobody’s going to take securities as collateral. Not securities based on assets like Mortgage Backed Securities. That is why the Fed is buying $200 billion of those. Because nobody in their right mind is going to believe a triple A rated security is actually Triple A.
What’s different about this crisis? Well it happened after the 2008 crisis. We learned a few things. Including collateral blowing up in your face because it turned worthless overnight.
Write downs. Nobody wants to touch the word Writedown. I’ve not seen a single person even mention writedowns at this point. Seen alot of V shaped recovery predictions, though.
Nothing outside of a $10+ trillion comprehensive package is going to move the needle or stop the deluge. Which’d basically equate to MMT and the dollar will hyperinflate over the next 3 years. Which, IMO, is going to happen anyway. It was coming; now the time table’s just been moved up a notch.
No. No we will end the week well below 19000 on the Dow. There could very well be a rally; after all volatility does stand for violent down And upswings. But this was Monday.
And even if we get a rally on Tuesday; we will not see a rally on Wednesday. What we will see is more bad news that reminds us the virus situation is getting worse, the banking crisis is underway, and we might even see a bank run or 2 in europe if things get really hairy. Though that could be next week.
My target? I’m not going to give any. I’m going to again point to my 7th of february advice to stay the fuck out (which would’ve netted me a good return on the available cash i could lend out at insane premiums a la warren buffet in 2008). It could end up anywhere. All the technical supports are nonsense. All of them assume this has happened before. It hasn’t. We’ve never shut down the entire western world before. We’re not even there yet! but it will happen.
The infections have already happened. People who got infected being funneled through airports today will not start showing up en mass till a week from now, with 20% being in hospital 3 weeks from now. This is a very slow burning virus, a fact the market STILL HAS NOT priced in.
If it had we’d see stories of entertainment company stocks going through the roof. Both EA games and Activision-Blizzard are down since the virus started. With millions stuck home from work. Until i hear the message coming out of blizzard that World of Warcraft subscriptions have increased significantly with people staying at home now, this market remains oblivious to the actual long term effects.
This is an entirely different beast. But we’ll find that out soon enough. We are still very, very expensive. You want a target? Here’s a target: