So far, so bad on our S&P 500 (/ES) Futures shorts.
We're down about $1,200 with only 3 of our 4 shorts filled (we never made 4,800 – our goal to fill the final short) but we were up about $1,400 during yesterday's Live Trading Webinar (replay available here), so the potential is clearly there. This position is a hedge not a trade, so we didn't take the money and run – as we would have on a trade.
This isn't a bet on where the S&P will be now, during a meaningless, low-volume rally – but where it will be once the traders come back from their holidays – as the virus numbers begin to skyrocket. Today we are averaging 301,472 cases per day (14-day average), the most since the start of Covid and that's up from and average of 267,305 new cases per day, YESTERDAY. How does the 14-day average change so fast? Because we're dropping off the oldest day, two weeks ago, when there were few cases and adding yesterday, which was another record. This trend is accelerating so far, not slowing down.
I did not know there was a color code wose than red but, apparently, the color of dried blood means your area is worse than red… I guess this makes sense to coronors. They say this strain is mild and my daughter feels better after having tested positive Christmas Eve (day 6) and got a negative rapid test so today she seeks to confirm that with a proper test but good luck finding one as the testing centers are overwhelmed.
Generally, in the US, if you think you have Covid, you go stand in a line for hours with hundreds of other people who think they have Covid. This pretty much guarantees that, by the time it's your turn – you have Covid!
"With more countries cutting isolation times and testing requirements, the World Health Organization has warned governments that they are engaging in a trade-off between slowing Covid-19 transmission rates and keeping economies and essential services running."
The WHO is beginning to question policies of choosing profits over populations. “We must…
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