Reveille Letter - Pre-market morning financial commentary with an international circulation

Blog Detail

Reveille Reconnaissance Blog

This blog is for the benefit of both subscribers and non-subscribers and is public to assist...
To subscribe to the Reveille Letter,
click here

In The News for Monday, March 9, 2020
Posted Mar 09 2020 7:12AM

·        Spikes in the VIX have often been the signal for a bottoming market. Chris Ciovacco looks at ten instances going back to 1990 to see what the market did following such spikes. The history is interesting. The average drawdown following these spikes was in the 3½% range. Here is a table of the results. Two of these instances came in the midst of bear markets, and I’m inclined to throw them out. The presentation is about 30 minutes long and well worth watching if you’re sitting there with a moist diaper trying to decide whether to let your emotions rule your investment strategy.


Chart Courtesy of Ciovacco Capital

·        Brian Williams apparently slept through basic math class. LOL. This piece in Powerline pretty much covers it. Brian was, you remember, portrayed at one time as a serious newsperson and the lead anchor of a major network before it became apparent that he was a mile wide and an inch deep. The other person on this clip is a member of the New York Times Op/Ed staff. The level of intellect among the mainstream media reporters is just not that impressive across the board. The truly intelligent ones stand out due to their endangered status.

·        A strategy for avoiding Coronavirus from Babylon Bee.

·        Can these people be any more despicable? Every time I’ve posed that question, they manage to go to new levels.

·        Quote of the Week: Sanders is either an evil man, or a profoundly stupid one. No wonder the Democratic Party establishment wants to go with Joe Biden, who is undeniably stupid, but, at least arguably, not evil. He is a nasty piece of work, though.

·        The Fox News Town hall with President Trump was the most watched town hall in cable news history.

·        Turn up the heat. ICE officers deployed to ‘flood the streets’ of sanctuary cities. Related. Ignoring San Francisco’s sanctuary law, ICE agent make arrest in front of San Francisco courthouse. And this: In a crackdown over ‘birth tourism’ agents raided dozens of home in California. I’m guessing this is just a taste of what we might see after Trump is reelected in November.

·        Have these people been asleep for the past three years? FISA Court mistakenly says Fusion GPS was digging up dirt on Hillary Clinton not Trump.

·        We’re in the best of hands, aren’t we? 174 Democrats voted against an amendment that aims to make it harder for TSA to hire people with terrorist or sexual crime records. Really? You might check to see how your Rep. voted and share your opinion with them.

·        This is pretty sad. He needs to be home with his family. As some commentators said it’s hard to see him making it to the convention.

·        This trend is going in the right direction. Step it up.