Economy: Where are we now?

[Ben Rhimene]

We'll see where we strike 2nd week ish of July, midish July. Texas is level 2, and 2nd phase of re opening on Monday. I'm curious.

And this constant bullish rallies are such easy sells. I really think people who have never invested in the stock market, came out of the wood works. The daily flip margins are huge, its a bipolar game.

I still stick to my angles though, very confident in it. Worst YTD I've had in my career, I think I'll end up positive though. I'm making baby margins messing the dailies on the rookies. That's giving me leverage to keep the var maxed to the gills.

I think we will see a very regional profile to recovery. Texas new cases way up, but with more tests and about 2 weeks into re-opening that shouldn't be a surprise. Europe starting to re-open in earnest, but now China scrambling because of a few dozen new cases after almost 7 weeks without.

I don't think we will see a full shutdown even if things get really bad again...the economic hit just isn't palatable and elections right around the corner.

Interesting you are willing to keep your VAR high, that is a bit contraindicated when volatilty is so high. It IS about FCF now and probably into Q1...those with strong liquidity will do well, and those without will struggle or be forced to file.