Friday 6 March 2020

Relatively contained

US equity indexes mostly closed very significantly lower, sp -51pts (1.7%) at 2972. Nasdaq comp' -1.9%. Dow -1.0%. The Transports settled -0.6%.




US equities opened powerfully lower, not helped via Asian and European markets.

Kudlow appeared in early morning...

Larry argued (t+2.57) "... frankly so far, it looks relatively contained... the vast majority of Americans are not at risk from this virus".

Relatively contained huh? It reminds me of the phrase "... being a little bit pregnant". Whilst yours truly is no more a Doctor of epidemiology than the Kudlow, I became aware that containment was lost many weeks ago. Even the notion of partial/relative containment is laughable. Corona is a global pandemic... regardless of whatever 'they' might want to call it.


Corona cases in the USA now total 241, with 14 deaths, and I sure don't see that as 'relatively contained'.

Equities leaned broadly weak into late afternoon, breaking a low of 2901, but seeing an upward spike into the close. Volatility soared, the VIX spiking to 54.39, but with equities recovering, settling +5.9% at 41.94.

Another flying can of Corona descending into London

A moment of peace

Full moon is March 9th
Extra charts in AH (usually around 5pm EST) @

Goodnight from London
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