E Market Briefing For Thursday, May 20

What makes this interesting here was a comment (an interview in length) of a leading think-tank researcher at Beijing University, linked to the Communist Party hierarchy. In a publication translated to English today, he says (with for sure more than a tinge of propaganda) that China 'won' the biological war with America and Europe, as the 'CCP Virus' brought America into shape.

That Professor might get in trouble for telling such a tale, if it's true and as so often is the case it's a single fairly obscure source and not reported in major media. They might avoid it due to obvious estrangement literal interpretations would provoke, or because whatever he said was less than the writer went on to postulate (creative license). I will update this topic if I get verification, while I do believe as I wrote even before Washington did anything, that it came from the Lab in Wuhan, and even the Chinese doctors who died early, said so.

Technically all S&P (SPX) did was again test (slight irrelevant penetration ) of the 50-Day Moving Average. So fighting the so-called uptrend is less risky versus months ago in a sense, with allowance for very short-term behavior that might well get an interruption of bearish action by stability ahead of Memorial Day.

The crypto issue won't direct the S&P as some think, but it does impact many Semiconductors as we've discussed. I think AMD's share-buyback decision today is unrelated to that, and Nvidia is even more involved. AMD is watched daily here because being the best gainer, it's up 5x of so from our entry point at the end of 2018. As it got into the 80's and 90's we contended just to hold, and that a holder could sell 'some' so as to be playing with 'house money'. At this point I'd hold and see if they can maintain high level support assisted by a slew of buybacks (as much as I disdain using capital for that purpose) (AMD, NVDA).

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William K. 2 months ago Member's comment

Interesting, isn't it, that while the cause of the spread was known and obvious, the fools in charge did not do the one thing that could have stopped the spread, which would have been to close the borders TIGHT immediately. That might involve parking tanks on the runways to stop planes from landing, with ample warning given before they would even plan to take off. It might also require quarantine of a few cruise ships for a while. Certainly it would have had some economic impact, but far less than the total lockdown. that we had instead.