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(a) Everyone and their granny pretty much knows that there is likely to be a recession triggered. This is priced in and not news. Positions being taken over the last week already have that priced in, therefore, it will take something 'new and bad' to push the market lower.

(b) The banks are weathering the storm well (so far). A serious issue develops out of nowhere with the financial system (banking) and that could constitute new and bad. At this point, the issue would have been their loan books, but with the Fed backstopping them, unlikely.

(c) We know bankruptcies will run up. Meh. The US has Chapter 11, they deal with this well and in any case it's not news.

(d) The virus will burn itself out over time. A vaccine or treatment will be developed. Over.

(e) Headlines will lose their ability to scare.

So as traders/investors we follow our plan. These opportunities crop up rarely, 10yrs between drinks is a while. Make the most of it. No need to be reckless, just follow your plan.

$1M spread across 10-20 positions at a 20%+ dividend yield gives a nice passive cash-flow going forward, particularly if those dividends grow over time.

jog on

duc