 What's shaking navigation nation today's Tuesday March 3rd. Welcome to today's update So big headlines this morning the G7. We're getting on a phone call all the big daddy Seven powers of the world getting together to discuss what to do here I would have loved to been a fly on the wall of that phone call who knows how it went But the way I envisioned it was something like this. Hey guys, what are we gonna do this coronavirus is making us look bad I know I know Jerome. Why don't you get out there and cut the Fed fund rates by 50 basis points? That should do it. That should calm everybody down. That should make the markets go back up, right? Well, so we're watching the market during this period markets were up at that point this area here And they made the announcement and the market didn't really react. I mean Theoretically you would think okay, that's that's a positive. They're cutting rates They're making money cheaper than it already is and so essentially wouldn't that make stocks? Trade higher. Well, they just kind of sat there for a while And so one of the things that we did is we added to our short delta We added to our indices. We shorted wind casinos and we also took off for profit of VXX Callspray, which is kind of an inverse So it's actually a long delta position and we booked some profits there To give us our portfolio an overall shorter bias and so that paid off well for us Obviously the market went down instead of up. You can see the S&P's are currently trading minus 46 minus 47 We've got about 10 minutes left in the cash markets and they're actually trading low They they were trading down S&P was down 100 at one point, but they are bouncing off of their session lows So interesting interesting stuff. The other thing we are watching was bonds, right? Bonds have an inverse correlation to interest rates now typically when the Fed Makes an adjustment to rates to the federal fund rates That's really going to affect the shorter duration notes and bonds more than the longer-dated ones Which is the one that we tend to watch and trade But bonds were down earlier in the day and even after the announcement Bonds continued to stay in negative territory for quite a while and then all of a sudden boom They spiked up and now they've given back about half their gains coming into the close though But it's just very interesting interesting stuff as we kind of continue on in this wild ride of a market If you go down the list of some of the main stocks that we watched means so much red I mean everything almost everything is red for some reason eBay is up a couple percent Got lift trading higher now later in the day But for the most part uber's up a little bit for the most part Everything is in the red in fact one of the things I like to look at here If you go to in toss if you go to the market watch tab and you go to the index watch you can choose whatever index I'm just looking at the the largest 100 stocks in the S&P when I was looking at it earlier There was only two Advancers and everything else was declining. So if we look at the two the few advances here coca-cola Apparently people are still drinking some coca-cola with coronavirus around. So that's good The other one is TMO thermal fish. So that's like a biotech research Company, so obviously that could be doing well because they're probably involved at some degree and in getting paid for research on the coronavirus But everything else is down. I mean massive massive down down down day and when you see this I mean we've talked about this before but when when the markets are really going down Everything becomes correlated everything goes down. And so that's that's exactly what we're seeing here Where you're seeing very few things popping their head up in the positive territory And then a couple other movers in the commodity space mean oil bouncing higher up over a percent It was up quite a bit more gold up pretty big 2.73 percent to the upside gold and silver both both trading higher net gas up almost two and a half percent so Big movements in the market and I think we'll continue to see this I don't think we we see the volatility slowing down anytime soon I mean look at this they the S&Ps were down 35 36 now. They're you know, just in a couple minutes I've been talking another down 70. So Keep your position size small my friends also want to make a quick announcement We are doing an updated Presentation to our portfolio hedge what we call our portfolio bunker. So jump in the community There's a link in there. You don't need to register. It's free. You can come join us. It's going to be this Thursday Thursday, March 5th at 11 a.m. Central time. So Thursday, March 5th 11 a.m Central time it will be recorded. I know it's kind of middle of day Not everybody's gonna be able to join live, but please do we'll have a plenty of time for Q&A after the presentation It's a strategy that you want to know for times like this and so Make sure you join us link will be like I said in the community Just go to community navigation trading calm and you can check that out. Everybody. Have a great evening. Talk to you tomorrow