Hey There Shoppers,
Today is Friday the 13th.
Whooooaaa …
It has always been a good day for me, as my birthday is on the 13th.
But apparently, the number 13 has largely been seen as bad luck for centuries.
With 12 being such a perfect number, 13 gets a bad rap.
The Code of Hammurabi was created 1755-1750 BC. It’s one of the few things I remember from grade school social studies – and have seen at the Louvre (very cool!). It actually skipped the 13th law of the 282 laws carved in the four-ton stone.
Most attribute the 13th phobia to the Bible and the Last Supper. Judas was the 13th person at the table and Jesus was crucified the following day, a Friday.
Other Biblical Fridays include Adam and Eve eating the apple and the Cain and Abel story.
There is also the 12th century Norse myth of 12 gods at a dinner party in Valhalla. The god Loki, uninvited, arrived (making 13) and arranged for the shooting of Balder.
“The whole Earth mourned. It was a bad, unlucky day.”
In 1907, Thomas William Lawson wrote the novel “Friday the 13th” about an evil broker who used superstition to game the stock market.
The Stress Management Center and Phobia Institute of Asheville, North Carolina, estimates that 17-21 million people are affected by fear of Friday the 13th.
In 2004, John Roach wrote in a National Geographic article that up to $900 million is lost in business on this day.
Oh, and let’s not forget the mini crash on October 13,1989 when the Dow dropped almost 7%.
So where are we going this Friday the 13th?
Continue here to check out the charts. (If you dare!)
Hold On Tight
It’s been another wild week!
How low can we go?
Check out my support levels on the charts.
S&P 500 Index (Ticker: SPX) next level of support $3,778:
SPDR S&P 500 ETF (Ticker: SPY) seeing support at $377:
Invesco QQQ Trust (Ticker: QQQ), support $272:
iShares Russell 2000 ETF (TIcker: IWM) support at $161:
Oh, and for good measure, the Bitcoin/USD chart:
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Trade Review
On Wednesday, I recommended May20 43.50 puts in Kraft Heinz (Ticker: KHC).
I paid $.80. They went out yesterday at $1.18. I still think KHC is going down to $40.60.
It’s treacherous out there, trade with care.
Thanks for Reading … See You Next Tuesday.
Licia Leslie