BLACK MONDAY LOOMS (AGAIN) 😲👊

I can't find a spot of good news over this weekend - or one that would make a sound difference to economies (on a longer term basis). I'm expecting (not predicting) panic on Monday/Tuesday. The markets are NOT economies. They represent confidence in economies - similar to bond markets.
Seriously - it's almost all bad news out there - and the algos will be expected to pick all this up and make 'decisions':

• Wall Street collapsed ~700 pts on the weekend (unheard of before). Then a slight rebellion north by 125pts.
  
• Cases surpass 105,000 worldwide; deaths exceed 3,500. The number of deaths from the coronavirus outside China edged toward 500, pushing governments and airlines to curtail travel to and from heavily affected areas.
  
• China death toll rises to 3,097.
  
• Italy curbs travel for northern region around Milan as death toll climbs by 33 overnight to 233. 16 million people locked down!
  
• CPAC attendee was infected; Trump had no contact. Trump said he intends to continue holding large campaign
  
• U.S. tests fewer than 6,000 samples.
  
• London Heathrow Baggage Handlers Test Positive for Virus
  
• The International Air Transport Association warned this week that carriers may lose $113 billion in sales this year, almost four times more than its estimate of the epidemic’s impact from just two weeks earlier.
  
• Saudi Arabia plans to increase oil output next month to well above 10 million barrels a day, as the kingdom responds to the collapse of its OPEC+ alliance with Russia. Commodities traders see this as all out 'price-war' in the face of a simultaneous supply-and-demand shock.(The virus had caused reduced demand for oil and price to fall. There was some talk about limiting production/supply of oil in response. Now the opposite seems to be happening).
  
• US walking into a recession at 'peak performance' - jobs report.
  

I also expect even higher volatility - which is what all sound traders lurve!! But gamblers also like volatility - so to gamblers I say, "Expect to lose more money than you make!"

Disclaimers: This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Estimates of probability in one direction leaves a residual probability in the opposite direction. If you make decisions based on opinion expressed here and you lose your money, kindly sue yourself.

Commento:

Weekend Wall Street just fell to minus 746 points from Friday close at 18:00 GMT 2020-03-08.

Commento:

Serious trouble at open of the market!

Commento:

The DJI gapped down 600 pts on weekend opening of the market. www.screencast.com/t/pAfVVrDE