Fake, Flat, Final Thursday of Q2

Oh please!  

Do I really have to pretend it's some kind of coincidence that we have raced back to close the quarter just above where we started it in order not to be perceived as a conspiracy theorist?  It's not a theory when it happens all the time, is it?

And look at the volume, we gained 70 S&P points in two days on less than half the volume we had when we fell.  How does the market go up that much with so much less money coming in?  As I noted yesterday, it's a house of cards that can be easily toppled once today's window-dressing event is over.  Also, bulls should be very concerned that 2,076.50 is the 50-day moving average on the S&P and, if we can't get over that today – it's a technical failure anyway.  

This is not, by the way, sour grapes.  Though we believe the market is heading lower (still looking for 1,850 on the S&P over the summer), we are very much in neutral with our paired long and short-term portfolios.  On Tuesday we noted that our STP was up to $536,627 and our LTP was at $959,373 as of Mondays close at the lows (see post for strategy details).  70 S&P points later, our LTP has jumped to $1,004,321 and the STP as fallen to $510,062 and that's a combined $1,514,383 (up 152%) and that's UP $18,383 in two days (1.2%). 

So we made more money on the way down and we made more money on the way up.  Is it alchemy?  No, it's BALANCE!  We balance our portfolios into uncertain events and, although we have an overall neutral stance, because we are "Being the House - NOT the Gambler", we are still collecting those premiums – no matter which way the market goes.  I don't think you can have a better stress test of our system than we've had in the past few days!  

Learning how to Be the House and how to balance our portfolios allows us to make money in any kind of market conditions and, more importantly, it allows us to TAKE A VACATION.  I went to Florida last Thursday and came back on Tuesday


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Phil/ et al- Thanks for the answers to my spread questions last night, as I really needed that little piece of knowledge to crystallize my understanding of spreads. Your help is much appreciated and I have been doing really well for the last couple of months with fewer and fewer missteps as I embrace the PSW ways and watching my portfolios grow.

- Craigsa620


Just closed out my V put for 50% in 24 hours thanks Phil!

- Humvee


I read with great interest your statement the other day that the DX is unlikely to break 76 or there will be great hell to pay, torrential amounts of tears shed, and gnashing of dentures all over the world. Well. I have had several short DX contracts in the $78ish range during the last month and upon your two statements 1) don't be greedy, and 2) 76 could be a bottom, I yesterday put a buy GTC order to close my positions at 76 and for some inexplicable reason the DX spiked down after the close and now I can safely say that once again you have confirmed for me that you have been one of the best investment services I have yet to come across. Almost to the point that I'm beginning to think that maybe I'm completely wrong about my political stance as well. Almost. In any event, I wanted you to know that this has been my third execution based on your comments and recommendations that I have followed and this one has also worked to my advantage. My subscription fee has been more than justified for the next year and there's some left over to pay for my stay in Toronto this week, dinner at Joso's in the Yorkville section of town. If I smoked I'd have a Montecristo to salute you. Be well, stay well.

- Flipspiceland


Phil, I just wanted to say thanks for being there. The world needs more of you. Your site continues to positively change my life daily.

- Chasw


I started with $250,000 in cash as of Oct 1 and have realized gains of $81,000 thru close of business. And that's in an IRA with no margin or naked trades. Whenever you are in Argentina or Chile I owe you a drink. I'm looking forward to it.

- Denlundy


As a fellow "low-end" investor I like Phil's Buy/Write strategy on solid stocks. Before I came here I loved to try to "figure things out" with very little success "TRYING TO FIGURE THINGS OUT"! I traded too much and fell in love with stocks that "should have done" what they didn't do. Now a majority of my accounts are in Buy/Writes suggested here or cash (waiting for a better time for more Buy/Writes). I use 15-20% of my total holding to short term trade and hedge. This is manageable with my full time job as a business owner. I have found Phil's system a more discipline way to achieve the returns I want without relying on my ability (more like inability to "figure things out").

- DCalrk41


PSW – Price/Value; The value of PSW on a regular basis exceeds by far the price of the annual subscription. The edition of February 26 'Which Way Wednesday – Popping or Topping?', – priceless for the serious investor.

- Winston


Phil – In the event of a mkt meltdown, which of the indices, in your opinion do you think has the most potential for % move down. I'm looking at call options on SDS and the DXD. Any thoughts? Ideas? Thanks .. and thanks for being a great teacher! I've learned so much in only a month!

- Louis631


TBT - Many thanks, Phil. I join you in your opinion favoring the Jan expirations. That's a great play. I can never thank you enough for what I have gained educationally as well as monitarily. Here it is late Sunday evening and I am able to get world class advice, just by asking for it. I feel like I am staying in a 5 star hotel, and room service is just a telephone call away!

- Gel1


Praising PSW for enlightenment is a bit akin to praising the Pope for being holy. I've been reading PSW for about two months now and have learned more about investing technique and the world in general than I've learned from the books and seminars I've paid for. Thanks for the enlightenment, the education, the guidance and the truth, which is not a commodity these days, but a virtue in short supply.

- Andy Morris


There are a lot of us that have been here a long time and we all learn something everyday. Just keep asking questions, there are a lot of smart people here and they are willing to help and then of course, you have Phil.

- Jr Mints


I am a Registered Nurse, so is my wife. We work hard to take care of seven kids that are the joy of our lives. The cost for a basic membership is ALOT from our our monthly budget of spending and saving…but well worth it! Phil has allowed me to really ramp up the savings we put away for our children's college funds and our retirement.

- David


Its been a "perfect" month. Every stock I wrote calls against looks like it will be called away next week, every put I wrote will expire worthless. Thanks Phil, now I need some new buy/write candidates, or the new 100K portfolio….

- Barfinger


Phil - Wow…wow. The vision and inate grasp of the options world you posess is rather staggering. It's this type of experience that I really hope to develop. I'm afraid I still can't see the moves, but I WILL learn. I cannot thank you enough for the patience, knowledge and effort you put into this place. Please keep it going!

- Where


You may wonder if anyone gets anything out of you seminars (or may not wonder). Anyway, I almost never day trade because of my job. Today, I was home due to the snow and since I was behind by 2 weeks on watching your recorded seminars I though I would watch one of them. I set up my pivot point charts in TOS to match the ones in your seminar and made the QQQ trade from this morning. I only bought 5 puts. While I watched the seminar, I would pause then switch back and forth and watch the live QQQ chart. I ended up stopping out for a $170 gain, but it was pretty cool to have the dip and recovery at the same time I was learning the art of stopping out when a pivot line was taken out.

- rj_jarboe


Phil...The hundred grand portfolio updates are helpful...Fun ..and have been profitable...really like em... made some nice entries into USB, KEY today... and I better add those FAZ calls tomorrow... Really glad you put that up this morning...

- Becker


Dear Phil, I have followed along with your commentary and alerts and have been flabbergasted at your quick analytical skills and your journalistic skills to explain it clearly. In a little over three weeks I have cleared almost 1000.00 dollars and got an intensive education at the same time. I would like to immediately upgrade my membership. It is hard for me to follow all evening as I am in Tokyo but I can join you at the beginning of the market and read the next day.

- Tokyolife


Well I want to thank P. Davis for his style and for the fact that he affirmed my thoughts for a correction. He was right and his confirmation of my bias saved me thousands. Mr. Davis is amoral when it comes to money. He realizes the poor are screwed but we must fight to win. A measure of sarcasm and dark humour and it is great reading. 100% right on the correction.

- Chaffey


Phil// Cashing out of my LT holdings have been going on for over two weeks. However, I have elected not to cash all of the holdings including my AAPL, Jan 16 Short Puts at $470 and $480. Plus, I am being opportunistic in selectively putting on those positions for beat down stocks by selling 2016 Puts. That said, YTD harvested profits now stand at $135k on a current account balance of $683K or a 19.81% YTD return. Thanks for your expertise in teaching me how to be patient, be the banker, but also not being greedy, cashing out and harvesting profits.

- IHS4GOD


Thank God for Phil. A few months ago (April) I didn´t even know what hedging was, and someone recommended I should check out some of Phil´s plays, especially on the retirement portfolio. When I first started to read it, none of it made a blind bit of sense to me, but I stuck with it and gradually began to work through some of the trades to see how it worked. Now I am putting on 5:1 SPY backspreads combined with bear put spreads, entering and leaving positions after consulting the VIX, and engaging in other esoteric maneuvers that are keeping my portfolio above water.

- jmm1951


Thanks Phil, your note at the close was responsible for making those silly GOOG sellers pay for my NYC sojourn, nice!!

- zeroxzero


Phil/USO Adjustment~~ Thanks for showing us the make it even (maybe even profitable) tricks for 'fixing' a losing position. I would have never known the trick if you didn't explain it. The option adjustment techniques are very helpful. Trading stocks would probably never offer that kind of flexibilities! Thanks!

- Investwizard


It is hard to learn the process that Phil teaches, but it is worth the effort. I think it is finally sinking in & so I say Thanks teacher for your patience & expertise! I've had a very good week so far & I know it is because of persisting in this learning process that you teach.

- Pirateinvestor


CZR – well that was fun! Opened the play yesterday. As the arb premium was now almost all gone from the box spread today, I just decided to close it. The rundown, after all commissions: my net was $183.51 profit for an overnight trade tying up $2000 margin in an IRA account. That's a 9% overnight return (3200% annualized!) …And all that learning, too! Thanks PSW!

- Scottmi


Phil, You were on the $ today with your calls almost exactly on the turns – Krap kuhn krup (Thai for thank you very much).

- Jomptien


Being on this board is better than successfully completing the Times crossword. Phil's panoply of comments manage to excite, illuminate, frustrate, exasperate, confuse, enlighten, outrage, invigorate and stupefy (and that's par for the morning session only!). But goddammit, it's addictive, informative and when it all goes right extremely profitable.

- Winston


I have definitely learned to take smaller wins early and be happy with that. Lately, I've aimed for $250 profit per day. Doing that daily/weekly x 48 weeks (assuming I take some time off) works out to 60k per year. That's a lot of money!! $250 moves happen all the time if you just wait for them.

- JeffDoc


Sold the BG puts I got yesterday at $1.30 for $2 just now. Might be a little early, but I'm happy with that gain. Thanks Phil.

- Smasher


Phil, I don't know if I told you lately but you da man! I'm doing so much better following your guidelines. It's like you actually know what you are talking about. 8-) I've tried a lot of services and none of them are as comprehensive or honest AND successful. I appreciate all youz other guys/gals input as well…learning tons as a relative newbie to this game.

- Aclend


I have learned more about options in the past 2 weeks as a full PSW member that the previous 5 yrs of making more bad than good option plays. The educational material alone is worth several times the price of admission. I have had an expensive education on what not to do- what is past is past- I am looking forward to profitable/fun future.

- Pstas




NAR Home Sales Data Shows Bubble II Still Boiling

Courtesy of Lee Adler of the Wall Street Examiner

The NAR released its May report on sales of existing housing–what it calls “Pending Home Sales.” The report covers actual sales contracts reached during the previous month. The NAR reports the data both on a seasonally manipulated (SA) basis and also on an actual basis, not seasonally manipulated (NSA). The media focuses on the SA numbers. In so doing this month, their instant “analysis” reached the wrong conclusion, and we got headlines like CNBC’s:

Pending home sales down 3.7%, marking first annual drop in two years

or The Wall Street Journal’s:

U.S. Pending Home Sales Fell 3.7% in May

National Association of Realtors index also suffered its first annual decline since May 2015

In reality, the SA factor overstated the April to May decline. Furthermore, sales did not decline year to year. The NAR’s data on the actual number of contracts in May had the Pending Home Sales Index at 133.2 in May of 2015 and 136.4 this May. That’s a gain of +2.4% year over year.

This is not a surprise. Contract data from the national online Realtor firm Redfin had already revealed that May was a record month. Even though Redfin’s data is national in scope and comes from the Realtor’s MLS services, and even though it is released weeks before the NAR report, the mainstream media don’t report it.

Existing Home Sales and Inventory- Click to enlarge

The media used the statistically inexcusable practice of using seasonally adjusted annualized monthly figures to compare year to year performance of the same month. That’s how they reached the wrong conclusion and misrepresented the market.

The US existing home sales market is in a mania, driven by inventory shortage and abnormally low, central bank subsidized mortgage rates. May sales activity confirms that. The buying frenzy has not cooled. Current sales volume is at the highest level since the top of the bubble in 2005. It is slightly higher than in May of 2006, although still below the buying climax of 2005. There may be room here for additional price inflation before the buying panic exhausts itself. The price correction would normally follow the manic volume peak. Volume typically precedes price.

May is a swing month where sales are sometimes higher than in April and sometimes


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Will We Hold It Wednesday – Strong Bounce Edition

Go kitty cat, go!  

On the right is the S&P chart and you can see the huge volume levels as we sold off with 553M shares traded on the S&P ETF (SPY) in two down days as the S&P fell from 2,113 on Thursday to 1,991 on Monday (122 points, 5.7%).  Yesterday, we popped back to 2,036, which is 45 points off the low but the volume on SPY was only 158M.

Let's say, for example, that you are re-building a 122-point wall that was knocked down and there were 550 bricks in the wall and you begin to re-build the wall and, as you are 45-points back up (37%), you realize you only used 158 bricks (29%).  Is that wall going to be weaker or stronger than the one that got knocked down?  Would you trust your family to be safe behind that wall?  Would you trust your investments to be safe?  

SPX WEEKLYYes, an 8% difference doesn't seem like a big deal but it's actually 158 out of 203 (37% of 550) that should have been used so we're 45 bricks short, so far, and that's 22.4% short.  So, going back to the market, we are getting to the same overbought levels but now with 22.4% less cash supporting the run than we had before.  That's really not good!  

The market was already a house of cards (as evidenced by our rapid collapse over the UK's vote to leave the EU within the next 2 years – ridiculous!) and now we've removed 22% of the cards yet there are still strong winds blowing in from China, Japan, Brazil, Venezuela (still rioting) and don't even get me started on how we're up again today, rallying over the bodies of 36 dead and 147 injured at the Istanbul Airport.  Is terrorism now a rally signal?  

Turkey is on it's way into the EU as the UK is on the way out but, for now, we can ignore this terror attack, just like we ignored 35 dead and injured on Jan 12th, 49 on the 13th, 7 on the 18th, 4 on the 27th, 99 in February, 329 in March, 160 in April, 67 in May and 384…
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Simplexity

 

Simplexity

Courtesy of 

Nick Murray once said “if you want to suppress volatility, you will suppress returns.” This definitely applies to many investors who either try to time the market on their own, or turn to complex and often times dangerous strategies designed to deliver stock like returns with bond like risk. Such a strategy by definition, cannot deliver on its promise. Look no further than the Merrill Lynch structured notes that lost 95% of its value. And although complex products almost never live up to their promise, there are simple ways to lower volatility without losing your shirt.

Consider a strategy that is over the top in its simplicity; if the S&P 500 is higher than it was one year ago, own the index. If the S&P 500 is below where it was one year ago, switch to one-month t-bills. You can see in the chart below that this simple model did significantly better than the S&P 500.

price 1926

The trend model also experienced less severe drawdowns. It would not have saved investors from every dip, but it did okay- falling just 13% in the tech wreck versus 46% for the S&P 500, and 11% in the financial crisis versus 53% for the S&P 500. Furthermore, the standard deviation of the trend model was 12.4%, compared with 18.8% for the S&P 500.

drawdowns

Much of the advantage earned by the trend strategy came in the first few years by avoiding some of The Great Depression. If we change the start date to 1935, the picture looks much different. This time, the gap between the buy and hold strategy and the trend model shrinks dramatically.

price 1935

But of course, as you’re already probably thinking, price appreciation doesn’t tell the whole story. The return of the S&P 500 total return index from 1928-today is 2838% higher than just the price return. So, if used the S&P 500 total return index, buy and hold actually did better than the trend model. Any downside that the trend strategy avoided was more than offset by the dividends they missed while not invested in stocks.

total return 1926

Similarly with the first example, if we begin in 1935


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Tuesday: Market Makes Weak Bounces off the Lows – So What?

Watch out for dead cats!  

I think we should at least get to our strong bounce lines (more on that later) but, for the moment, our 5% Rule™ warns us that, after a 5% drop, we EXPECT a 1% bounce (weak) and we're not impressed until we spend a full day above a 2% bounce (strong).  In Europe, where they dropped 10% in two days, +2% is a weak bounce and +4% would be strong – we're only at our weak bounces folks – don't get excited

Friday is the last trading day of the quarter so we can expect a lot of window-dressing and I would be much more concerned about a quick return to our highs – especially on low-volume, pre-market BS like we have today (see morning tweet) than if we grind along at the -5% line and form a serious base we can build off.  On the whole, this wasn't much of a correction – it didn't even trigger our long-term hedges — yet.  

Wednesday's Russell Ultra-Short ETF (TZA) hedge was only $1 yesterday morning but finished the day at $2.05 – up 105% for the day on the 3.3% drop in the Russell and THAT is how we hedge!  30 contracts purchased for $2,550 (0.85/option, $85 per contract) ended the day at $6,300 for a $3,750 (147%) gain but it will be easy come, easy go this morning as much of that is given back and we didn't take them off the table yet.  

A hedge is there to prevent us from losing money on our long positions – it's insurance, not a bet – don't confuse the two!  If the market went lower, the hedge could pay up to $12,450 to offset our losses but, as it was, we haven't really needed the offset so far and our portfolios have weathered the storm with hardly a scratch.  

While our 100% bullish Long-Term Portfolio dropped back to $959,805 (up 92%) yesterday, our Short-Term Portfolio (where the hedges are) blasted up to $536,627 (up 436%) for $1.496M, up almost $900,000 (150%) from our $600,000 start for our paired portfolios.…
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One hundred and ten years ago…

 

One hundred and ten years ago…

Courtesy of Joshua M. Brown, The Reformed Broker

At eight o’clock in the morning of Wednesday April 18th 1906, Jesse Livermore was sound asleep in his New York hotel room after arriving back late from Palm Beach the previous evening.

3000 miles away, across the country in California, it was five o’clock in the morning and the city of San Francisco slept contentedly. Barely two minutes later, the earth shook and all 410,000 citizens were awoken as the San Andreas Fault suddenly ruptured. There were two quakes. The initial quake was hardly noticeable but, 20 seconds later, the earth tremored for 42 seconds at force eight, just about as bad as it gets. It shattered the surface of the earth for a length of 296 miles across California. At its epicentre, the ground moved 28 feet.

The above account of the infamous San Francisco quake comes from the book Jesse Livermore – Boy Plunger. Livermore had previously sold short 5000 shares of the Union Pacific railroad on a hunch that something bad was about to happen during a vacation in Florida. This was a massive trade for the speculator, given that he’d just spent the previous four years frittering around with small wins and losses, and focused more on his social life than on his career.

But Jesse’s gut told him to act that day in early April 1906…

Livermore just stood very still and quiet. He could feel something happening inside his head, a sensation he had not experienced before…Livermore was struck by a sudden impulse to do something based on nothing at all.

“I was looking over the quotation board, noting the changes, and they were mostly advances – until I came to Union Pacific and I got a feeling that I ought to sell it. I can’t tell you anymore. I just felt like selling it. I asked myself why I should feel like that and I couldn’t find any reason at all for going short of Union Pacific.”

He starts with a thousand shares short in the Florida branch of his friend’s brokerage firm, E.F. Hutton, and then


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Phil's Favorites

PhilStockWorld.com Weekly Trading Webinar 06-29-16

This week's Webinar is ready. Watch below. 

PhilStockWorld.com Weekly Trading Webinar 06-29-16

Major Topics:
 
00:01:32 Checking on the Markets:  DX, CL, RB, NKD
00:05:10 Chaos created by the Brexit
00:09:05 China’s massive debt flowing economy
00:09:58 Japan’s GDP debt
00:10:54 US numbers
00:12:46 Lines: Pivot point
00:16:05 “I want people to be a wolf”
00:18:11 George Soros about brexit
00:26:47 Brexit vote map
00:35:32 DX over NKD. Support resistance line
00:39:48 Neil Farage EU parliament
00:40:42 EU politicians nobody has a real clue about 80%
00:51:50 Total broadway ticket sales
01:01:13 Wealth extraction
01:11:30 YG and SI Inflation
01:13:21 Top Trade: BX
01:22:...



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Zero Hedge

Peso Soars To Pre-Brexit Levels As Mexico Raises Rates More Than Expedcted

Courtesy of ZeroHedge. View original post here.

A day after the most awkward three-way handshake in history between Obama, Trudeau, and Nieto, the latter's central bank just pushed rates higher by a bigger than expected 50bps to 4.25% (exp +25bps). The Peso is surging back (extending its bounce off January lows) retracing all the post-Brexit losses... on what seems like fears of a surge in food inflation.

  • *WORSENED GLOBAL CONDITIONS COULD IMPACT CPI: BANXICO
  • *BANXICO LOOKS TO KEEP MXN FROM HITTING INFLATION EXPECTATIONS
  • *BANXICO SAW STEEP ...


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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Oil Pares Biggest Quarterly Gain Since 2009 Amid Rebalancing (Bloomberg)

Oil headed for the biggest quarterly advance in seven years as falling U.S. supply added to speculation the global surplus is easing.

Stocks Steady, Capping Rocky First Half of Year (Wall Street Journal)

Stock markets mostly stabilized Thursday, on track for a subdued end to a tempestuous first half of the year.

...



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Chart School

RecessionAlert Weekly Leading Index Update

Courtesy of Doug Short's Advisor Perspectives.

The latest index reading comes in at 7.2, up from the previous week's downwardly revised 6.5.

RecessionAlert has launched an alternative to ECRI's Weekly Leading Index Growth indicator (WLIg). The Weekly Leading Economic Index (WLEI) uses fifty different time series from these categories: Corporate Bond Composite, Treasury Bond Composite, Stock Market Composite, Labor Market Composite, Credit Market Composite. RecessionAlert emphasizes that WLEI is a growth index and its data is no more than a week old, as is ECRI's WLIg.

Here is an excerpt from the de...



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Kimble Charting Solutions

Follow this leading indicator closely, resistance test in play

Courtesy of Chris Kimble.

Below compares the prices of Crude Oil and the New York Stock Exchange Index (NYSE) over the past couple of years.

Once Crude peaked in 2014, the NYSE Index make little upward movement after than, even though the trend for the prior few years was clearly up.

Over the past year (black rectangle box), the correlation has been quite high.

CLICK ON CHART TO ENLARGE

Are Crude Oil and the NYSE, both creating an inve...



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ValueWalk

Care.com Inc (CRCM) Soars On Google Inc (GOOG) Investment

By Jacob Wolinsky. Originally published at ValueWalk.

Care.com Inc (NYSE:CRCM) is soaring this morning up about 39 percent at the time of this writing – why? Google Inc. (NASDAQ:GOOGL) just made a big capital injection into the family care company. Below is that the analysts are saying about the latest news.

Care.com Inc

Stifel opines:

Yesterday, Care.com announced that Google Capital made a $46.35mm investment in the company (versus the company’s market capitalization of $268.4mm at the close). The transaction marks Google Capital’s first investment in a public company and makes it Care.com’s largest shareholder. A portion of the proceeds will be used to repurchase $30.5mm worth of shares from Matrix partners. In addition, Laela Sturdy, a Partner at Google Capital, will gain a seat on Care.com’s Board of Directors. We view the in...



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OpTrader

Swing trading portfolio - Week of June 27th, 2016

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Mapping The Market

Thoughts on Brexit

I have mixed feelings about Brexit today. Clearly the European institution need reforming. The addition of so many countries in the last 20 years has created a top heavy administration. The Euro adds more complexities to the equation as the ECB policies cannot fit every country's problem. On the other hand, a unified Europe has advantages as well – some countries have benefited from the integration.

For Britain, it's hard to say what the final price will be. My guess is that Scotland might now vote for independence as they supported staying in Europe overwhelmingly. Northern Ireland might be tempted to leave as well so possibly RIP UK in the long run. I was talking to some French people and they were saying that now there might be no incentive for France to stop immigrants from crossing over to the UK like they do now and simply allow for travel there and let the UK deal with them. The end game is not clear to anyone at the moment....



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Digital Currencies

Bitcoin Tumbles 10%

Courtesy of ZeroHedge. View original post here.

One week ago, when bitcoin first crossed above $700 on the seemingly insatiable Chinese buying which we forecast last September (when bitcoin was trading at $230) would take place as a result of China's capital controls (to much pushback by the "mainstream" financial media), we tried to predict what may happen next. We said that "it could go much higher. That said, anyone who bought last September when the digital currency was trading at $230 may be advised to take some profits, and at least make...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

more from David

Biotech

This Is Why Biotech Stocks May Explode Again

Reminder: Pharmboy and Ilene are available to chat with Members.

Here's an interesting article from Investor's Business Daily arguing that biotech stocks are beginning to recover from their recent declines, notwithstanding current weakness.

This Is Why Biotech Stocks May Explode Again

By 

Excerpt:

After a three-year bull run that more than quadrupled its value by its peak last July, IBD’s Medical-Biomed/Biotech Industry Group plunged 50% by early February, hurt by backlashes against high drug prices and mergers that seek to lower corporate taxes.

...



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Promotions

PSW is more than just stock talk!

 

We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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