Why Worry Wednesday – The Fed Will Save Us Every Time

Bubbles, bubbles, everywhere.  

BitCoin has passed tulips in 1637 as the biggest bubble that ever existed.  The S&P bubble (see yesterday's post) is only up 300% in 8 years – hardly a blip on a chart where BitCoins (/XBT) is now up 6,500% in 3 years.  Amazingly, it was only two weeks ago when I said "We Will All Be Billionaires" if the markets keep growing at this pace yet the pace most certainly has continued, with our Money Talk portfolio (see yesterday) hitting +80% in yesterday's trading.  

There were no changes and no adjustments – just the same 4 positions going from +70% to +80% in two weeks while BitCoin went from $11,200 to $18,000 (+69%) and our GreenCoins went from 0.000220 to 0.000812 (+269%) before crashing back down to 0.000305 as we reminded people not to be greedy and take profits in yesterday's Live Member Chat Room.  Of course the whole thing is ridiculous, but it's a ridiculous thing we can play with – so why not?

We're still accepting GreenCoins (GRE) as payment for 2018 Annual Memberships during the month of December at 0.00044 so, if you can buy them for 0.000300, you're getting a 25% discount at the moment but I'd offer 0.000200 – as those lows are still filling if you are patient.  That gives you a 50% discount on Annual Memberships so, assuming you wanted an Annual Membership anyway, it's a free way to go through the process of playing the cryto market and, if you get lucky, GRE pops again and you can sell them for 4x, which pays for the Membership (2x) and leaves you 2x in your pocket as well!

Image result for bitcoin milestonesSee how easy it is to make money in America – we just make everyone rich on a weekly basis – what could possibly go wrong?  Two weeks ago, if you bought a BitCoin for $11,200 to exchange for GreenCoins (that's how small cryptos work, they trade in BitCoins) and you waited until they were back at 0.00022 on the 8th, your BitCoin was at $20,000 and you only needed 22.7M GreenCoins for a Premium…
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  • AMZN ... thanks Phil; boy did they run a squeeze on everyone there ... made me sweat ... scaling helped! I think AMZN has an 85 handle tomorrow ... maybe lower.

    Cap

  • Phil – I wanted to tell you how much of a privilege it is to learn from your every day. You are a shining beacon in the life of so many investors. You have assembled probably the best group of people in the history of financial blogging and you, yourself have done more to help investors in the last 6 months than all previous financial advisors combined.

    StJeanLuc

  • I remember that call (to sell gold at $1,850) as well... and the many Buy-Writes that were created on your site during that period... thanks to you, I had an average ROI of close to 70% for over 2 years, averaging 4,000 trades per year. Busy trading, but lots of fun and memorable trades.

    1234gel

  • I did the same thing via your logic (sold puts that is). I glanced one time and they were already up 15% which is considered a good return for an overnight hold in most circles. This is PSW though and to us it's just another day…

    Kwan

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

    Humvee

  • New members – a word of advice: you should check out the track record of Phil's last few trades of the year, and what the return would be if you just rolled all the gains into the next years trade of the year. Remember – trade of the year is one he's virtually sure of, and he rarely misses on those

    Deano

  • Hey Phil -- I want to thank you every chance I get for helping me to grow my previous portfolio to being profitable enough to pay off some debts my family had and left me with $1,000 left to use in the markets. You should know that your premium membership is amazing on many levels, You and your readers offer a ton of economic and statistical analysis that I was able to use in my clerical level job in finance. It's a shame that someone as talented and honest as you is not on television each night providing a true service to the investing public and not the clowns and hucksters that are talking up their books to dump on retail investors. Sorry for the long post. I had to say something to you that I never thought I would have the opportunity to. You helped put my family in an almost debt-free life through the stock and option plays that I made during my time as a customer of your service and that has made us very happy. You are a good man and I wish you and your family many years of joy and happiness. I wish I could do ads for you!

    DaveJ

  • WOW, glad I went bearish… Phil, thanks for the help on the QID calls yesterday, I turned it into a partial cover rolling down to the Feb 52s selling the 55s 1/2 covered. Sold 1/2 and now lowered my cost basis to $4.38 on the $52s (fully covered).

    Texasmotion

  • Phil, you are the man. My positions in ABX and CLF are up massively this year, and doing very nicely with USO and UNG. TSR is another winner. Just waiting for the TSLA short now!

    Rookie IRA Investor

  • Phil/CLK4 – Perfect! Saw the answer 1 min after my post…out with $740 on two contracts. Thanks again for the education.

    Jeffdoc2004

  • Newer member here, but just wanted to say thank you too. I've learned so much and I hope you'll be around for a long time helping us learn along the way.

    Where

  • Phil - Moved today to send kudos. You're in my top 5 to see/read daily. I do not trade... but as former econ-finance adjunct faculty near Stanford U. I give you lots of attaboys.... and provide your links to many to spread some understanding of the mess we are in. Best to you and yours,

    HJ Kobbeman

  • All I can say is — I understand that the Universe sent me to PSW for a reason. So, I'm listening!! …and studying. Your commentary is literally outstanding. …and your members are impressive as well.

    Seaquill

  • 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

  • Phil has some great insight into the market. He's given me a different perspective on the market and I know I'm a better trader/investor because of it. I've been trading options since the late 80's and Phil is right. Unless you know what is going to happen (how can you, unless you have insider information), then do what the smart money does - be the house. Remember guys, we're allowed to sell options. If you're afraid to be short, then do a spread to limit your liability. When I think about the money I've made and lost on options, a good approximation is that I win 30% of the time when I do a straight buy; I win about 70% of the time when I do a spread; I win nearly 90% of the time when I sell naked.

    Autolander

  • Phil: That NFLX call was awesome. The speed at which NFLX options decayed was precipitous. The blow out spike that allowed me to double and roll my callers to 190(!) and the ridiculous 170 weeklies @3.50 a day away from Op-Ex. The gains I realized in that trade floored me when I took a long at my portfolio value on Friday. What a great way to start the 3rd Quarter.

    Kinkistyle

  • Phil/Everyone here/Thank you - What everyone here with their insightful comments (including yourself) has helped me with is that I'm greatly increasing my ability to trade more psychologically neutral, although I've got a ways to go. Two years ago I'd wake up early and my heart would race if futures weren't pointing exactly how I wanted… I've noticed an exponential leap in my discipline skills especially over this past two weeks. The old me would have ran with that trade for profits without even asking. Now I know that there are ALWAYS more trades and that I have PLENTY of options to turn a bad trade even. Also, it's more logical and less emotionally draining which lets me focus my faculties on my wife, college, my job, and studying for the ol' Series 7. Would it be safe to say that one of the most important skills to develop is the ability to adjust? I'd love to get to the point where I can look at a bracket and know, for example, what I need to sell for cover in what month in order to get my desired results. Both COF and my past DMM venture have been excellent learning experiences. Thanks, everyone. I look forward to further lessons.

    Skasiah

  • Phil - It is nice being more discipline with my trading. Generally, I am out earlier than most, but my results, overall, are much better than they were when I was trying to squeeze 80 cups of lemonade out of one lemon! On the other side, I am learning the value of rolling and turning losses into non-losses or small gains. I so appreciate the time you have spent with me and others who have benefited greatly from your knowledge. Thank you!

    Dclark41

  • Gel1…..I've been here 6 months, mostly watching and learning. Lots of smart people on the site and I've learned a lot from Phil and many others. //// Inflan - I have to trump your sentiments regarding the wisdom of the board. I have to thank Phil and the many contruibutors for a 80% profit for 2009. I have learned a lot and am still learning ( even occasionally about political issues - ha! )

    Iflantheman & Gel1

  • Phil - Another excellent teaching article - when you write like that it blows me away. Thank you! I had the ideas from earlier articles but what I didn't have was enough understanding. The familiarity of ideas through repetition, re-working, revision - over time - the variation, the pulling out of implications - it all contributes to understanding and mostly thats on the student - but a good teacher (worth their weight in gold) makes understanding a pleasure. I wanted to learn about trading options because it makes my brain feel better - fitter, healthier. Actually mostly it makes me happy to think about the trade and trading options. You are a good teacher and I know that or I wouldn't value the subscription the way I do. It pays for itself through the pleasure of understanding alone.

    Redfern1

  • 1,000% on SKF - It was a freakin' monster into the center field bleachers! I saw it play out live and squawked it from the StockTwits ID which 14k people follow: Home run trade of the week @philstockworld just knocked cover off ball w $SKF puts. http://bit.ly/piBL Great trade bud!

    Phil Pearlman - StockTwits

  • I love volatile days like this when you can make a bunch of money on these big swings. As long as you have Phil on your side calling the bottoms and the tops of course.

    craigsa620

  • Phil, thank you for all the education here. I've gained so much knowledge being a part of PSW. Thanks to the rest of the members as well! I appreciate all of the contributions you make.

    JeffDoc

  • Phil I must say that it was really nice to have a portfolio that was looking very stable in the face of a rough day for the markets. I ended the day up 0.3% which includes another successful day of futures trading. So with a portfolio of mostly cash, a few of our faves like Apple and LL, JO, TOL, DIS, etc., along with a couple of hedges that paid off nicely today, and my futures trades, I never had to break a sweat during that madhouse today. Yes, by George (or Phil), I may be learning this system!

    Craig

  • Phil- I am a former portfolio manager and now retired. I have been following you for about six months and I now know why you have so many followers you are very insightful and knowledgeable.

    Mkozberg

  • My watch list looks like a grid where Phil's recommendations went UP and everything else went DOWN! It looked something like an ad for Philstockworld. I am half in cash, followed the recommendations (AAPL TASR YHOO) on a 20K portfolio and still up 1% for the day. Thanks!

    Sn0gr00ve

  • 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

  • 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

  • Wow, Phil, we pretty much made your levels. Your levels: Dow 7,404, S&P 775, Nas 1,466, NYSE 4,839 and RUT 402 My sceen is showing: Dow 7,404, S&P 777, Nas 1,462, NYSE 4,868 and RUT 404

    Jordan

  • 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

In Stunning Victory, Democrat Doug Jones Wins Alabama Senate Seat; Trump Responds: “A Win Is A Win…”

 

Source: NY Times

****

Courtesy of Zero Hedge

Update: President Trump has reacted to Doug Jones' victory:

Update: US equity futures are sinking after Democrat Doug Jones wins Alabama Senate special election against Roy Moore, the state’s Republican former chief justice who was dogged throughout the campaign by sexual misconduct accusations, AP reports.

Jones has 49.6% to Moore’s 48.8% with 88% of vote counted, according to AP tally.

President Trump carried state in 2016 election by nearly 30 ppts over Democrat Hillary Clinton.

Jones wins seat vacated by Jeff Sessions, who became Trump’s attorney general.

Jones, 63, a former federal prosecutor, becomes first Democrat in U.S. Senate from deeply-Republican state of Alabama in over 20 years (last Ala. Democratic senator was Howell Heflin, who left office in 1997; the state’s senior senator Richard Shelby was a Democrat but switched parties to the Republicans in 1994)

Once Jones is sworn in, GOP’s Senate majority would narrow to the smallest possible 51-49… which explains why US equity futures are sliding…

Shortly after 8pm EST this evening, the voting results of one of the most controversial special elections in modern history, which pits Republican Roy Moore against Democrat Doug Jones for Jeff Sessions' vacant Senate seat, will start to flow in to news desks all around the country.

While this election would have been a complete blowout just a few months ago, allegations of sexual assault which surfaced against Moore in November and which reportedly occurred in the late '70s, have made it a complete toss up.  As we noted earlier this morning, even pollsters have no clue how to predict voter turnout tonight with Fox News predicting a 10-point win


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Our survey reveals that even Republicans want a fairer tax deal for America

 

Our survey reveals that even Republicans want a fairer tax deal for America

Courtesy of Sven Steinmo, University of Colorado and John W. D'Attoma, University of Exeter

The American Republican party is about to pass a massive tax bill that almost no one – including their own voters – really wants. While many people like the idea of paying lower taxes, remarkably few favour the kind of tax bill proposed.

We do not yet know the exact shape of the final bill, but three things are certain. Corporations and wealthy individuals will get a big tax cut. Middle-class Americans will get a small tax cut. And the government will borrow approximately US$1,500,000,000,000 (yes, that’s what 1.5 trillion looks like) to pay for those cuts.

Few Americans like any of these outcomes. According to one study earlier this year, 52% believe that taxes on large corporations should be increased, not cut. The same survey found that only 24% are in favour of cutting taxes on high income earners, while 48% believe people earning over US$250,000 should pay more tax, not less. Very few believe it is a good idea for the government to borrow even more money than it does already.

Good arguments can of course be made for public borrowing during economic downturns in order to stimulate spending. Similarly, some would argue that borrowing to spend on education or infrastructure can be positive investments in the future.

But neither of these arguments apply to this tax cut. This is simply a massive giveaway to the very people and institutions that need the money the least. According to the Federal Reserve Bank, annual post-tax corporate profits (US$1,738 billion) are higher now than they ever have been in US history. America’s richest individuals now have more of the nation’s wealth than any time since the 1920s.

Still, Congress is decorating a Christmas tree with tax goodies for companies and the rich, and leaving future generations to pay for them.

Today the federal government owes over US$20 trillion – more than the total value of goods and services produced in the US last year. That’s US$62,000 for every man, woman and child living in the country. Even…
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It’s Official: Bitcoin Surpasses “Tulip Mania”, Is Now The Biggest Bubble In World History

Courtesy of Zero Hedge

One month ago, a chart from Convoy Investments went viral for showing that among all of the world's most famous asset bubbles, bitcoin was only lagging the infamous 17th century "Tulip Mania."

One month later, the price of bitcoin has exploded even higher, and so it is time to refresh where in the global bubble race bitcoin now stands, and also whether it has finally surpassed "Tulips."

Conveniently, overnight the former Bridgewater analysts Howard Wang and Robert Wu who make up Convoy, released the answer in the form of an updated version of their asset bubble chart. In the new commentary, Wang writes that the Bitcoin prices have again more than doubled since the last update, and "its price has now gone up over 17 times this year, 64 times over the last three years and superseded that of the Dutch Tulip’s climb over the same time frame."

That's right: as of this moment it is official that bitcoin is now the biggest bubble in history, having surpassed the Tulip Mania of 1936-1937.

Some more observations from Wang:

I continue this topic and discuss a main driver of bubbles. When we see a dramatic rise in asset prices, there is often an internal struggle between the two types of investors within us. The first is the value investor, “is this investment getting too expensive?” The second is the momentum investor, “am I missing out on a trend?” I believe the balance of these two approaches, both within ourselves and across a market, ultimately determines the propensity for bubble-like behavior. When there is a new or rapidly evolving market, our conviction in the value investor can weaken and the momentum investor can take over. Other markets that structurally lack a basis for valuation are even more susceptible to momentum swings because the main indicator of future value is the market’s perception of recent value.

We will publish the balance of Wang's full note "What causes asset bubbles?" shortly, but for now we just wanted to experience a moment of true zen serenity, knowing that we now stand in proximity to an asset bubble the magnitude of which has never before been observed by humanity. Thanks central banks!





Too High Tuesday – S&P 500 Most Overbought in 22 Years

80% overbought.

We weren't even 80% overbought in 1999.  The high on the RSI Index was hit back in early 1997 and, bulls take note – we kept going higher for 2 more years after that – so this doesn't mean it's the end – it just means this is crazy.  This is about the point where Alan Greenspan called the market "irrationally exuberant" (Dec 5th, 1996) saying:

Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past. But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?

Image result for irrational exuberance chartThe Dow had just passed 5,000 at the time and, two years later, it was at 11,700 – up 134% AFTER the Fed Chairman said people were nuts for buying stocks.  I don't know for sure if we were right to go to CASH!!! last week but it's not a permanent decision – it's simply something we're doing into the holidays and likely to remain until we see the Q4 earnings and 2018 guidance in January.  THEN we will decide which stocks we want to ride for the next 100% of the market rally – if such a thing is coming.  

As you can see from the chart, the Dow move was nothing compared to the Nasdaq, which more than tripled after his call.  We just saw BitCoin more than double after JP Morgan's Jamie Dimon called it a scam and our GreenCoins (GRE) doubled yesterday and today they are up another 20% – that's a scam we can all enjoy!  

We're waiting on a Fed decision tomorrow and they are expected to tighten and this morning's November PPI numbers were hotter than expected, at 0.4% with even Core PPI up 0.3% – so those are good reasons to expect the Fed will be tapping on the brakes tomorrow but Greenspan raised rates all the way
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How the ‘Greatest Showman’ paved the way for Donald Trump

 

How the 'Greatest Showman' paved the way for Donald Trump

Courtesy of Michael GreenwaldTexas A&M University

File 20171208 27714 18s5l2n.jpg?ixlib=rb 1.1

‘I don’t care what they say about me,’ P.T. Barnum once said, ‘as long as they spell my name correctly.’ Everett Historical/Shutterstock.com

Historian James Cook, in his 2001 book “The Arts of Deception,” points to July 1835 as “the birth date of modern American popular culture.”

That month, a frustrated grocer named Phineus Taylor Barnum purchased Joice Heth, a purported 161-year-old slave who had been George Washington’s nanny.

Barnum furiously promoted her as “Absolutely the Greatest Natural and National Curiosity in the World.” It worked: Over 10,000 people saw her at New York City’s Niblo’s Garden during a two-week exhibition.

But while patrons gave testimonials assuring her authenticity, Barnum decided to muddy the waters: He wrote anonymous letters calling her “a deception cleverly made of India rubber, whalebone, and hidden springs.” The ploy challenged people to judge for themselves whether she was real or a hoax.

After Heth died in 1836, an autopsy was arranged to determine her age. A lesser huckster might have shrunk from the spotlight, fearing being exposed. Not Barnum: He charged customers 50 cents to observe the autopsy. (She ended up being around 80 years old.)

Now P.T. Barnum is the subject of a new musical biopic starring Hugh Jackman, “The Greatest Showman.” It’s a fitting moment to release a film featuring the country’s most famous impresario, entrepreneur and – some would say – scam artist.

Today, the country is gripped in a populist fervor, just as it was in Barnum’s time. Advertising – then in its infancy – now saturates all parts of our lives. And of course there’s the country’s new president, who’s one year into his first term. Barnum’s showmanship pulses through every fiber of Donald Trump’s political style.

Selling to the masses

In the 1830s, Jacksonian democracy was supplanting Jeffersonian elitism. The political movement challenging the existing social order in favor of the social, religious and aesthetic preferences of ordinary people, or, as composer Aaron Copeland later rhapsodized, “the Common Man.”

Acutely attuned…
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Phil's Favorites

3 myths about the poor that Republicans are using to support slashing US safety net

 

3 myths about the poor that Republicans are using to support slashing US safety net

Courtesy of Michele GilmanUniversity of Baltimore

Sen. Chuck Grassley recently seemed to suggest some poor people spend all their money on “booze or women or movies.” AP Photo/Charlie Neibergall

Republicans continue to use long-debunked myths about the poor as they defend lower taxes for the rich and deep cuts to the social safety net to p...



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Zero Hedge

The Best Tax Incentive In The World

Courtesy of ZeroHedge. View original post here.

Authored by Simon Black via SovereignMan.com,

In a move almost destined to prove that laws and policies have absolutely zero meaning, the European Union released a list of “tax havens” last week… with a massive, giant, highly conspicuous omission.

The blacklist contains the names of the usual suspects– Panama, United Arab Em...



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Chart School

Rallies Slow As Semiconductor Selling Eases

Courtesy of Declan.

Markets experienced early gains but gave them back by the close of business. Given the mini-rally of the past five days, some of the indices are looking vulnerable to a new round of selling.

The S&P finished with a narrow inverted hammer on low volume but at new highs. A move back to the newly accelerated channel is looking favored.


The Nasdaq also finished with a narrow doji but wasn't able to make new highs.  It's already close to one channel but looks more likely to reach down to the slower channel.

...

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Insider Scoop

Earnings Scheduled For December 13, 2017

Courtesy of Benzinga.

Companies Reporting Before The Bell
  • Lightinthebox Holding Co Ltd-ADR (NYSE: LITB) is estimated to report quarterly earnings at $0.01 per share on revenue of $78.49 million.
Companies Reporting After The Bell
  • ABM Industries, Inc. (NYSE: ABM) is expected to post quarterly earnings at $0.49 per share on revenue of $1.49 billion.
  • ...


http://www.insidercow.com/ more from Insider

Digital Currencies

Not A Bubble?

Courtesy of ZeroHedge. View original post here.

Meet The Crypto Company - up almost 20,000% since inception in September...

To a market cap of over $12.6 billion...

Grant's Interest Rate Observer drew the world's attention to this 'company' yesterday.....



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Biotech

DNA has gone digital - what could possibly go wrong?

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

DNA has gone digital – what could possibly go wrong?

Courtesy of Jenna E. GallegosColorado State University and Jean PeccoudColorado State University

Modern advances come with new liabilities. Sergey ...



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ValueWalk

Tax Bill May Spark Exodus From High-Tax States

Courtesy of FinancialSense.com via ValueWalk.com

The following is a summary of our recent podcast, “Exodus – The Major Wealth Migration,” which can be listened to on our site here on on iTunes here.

It’s looking increasingl...



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Members' Corner

An Interview with David Brin

Our guest David Brin is an astrophysicist, technology consultant, and best-selling author who speaks, writes, and advises on a range of topics including national defense, creativity, and space exploration. He is also a well-known and influential futurist (one of four “World's Best Futurists,” according to The Urban Developer), and it is his ideas on the future, specifically the future of civilization, that I hope to learn about here.   

Ilene: David, you base many of your predictions of the future on a theory of historica...



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Mapping The Market

Puts things in perspective

Courtesy of Jean-Luc

Puts things in perspective:

The circles don't look to be to scale much!

...

more from M.T.M.

OpTrader

Swing trading portfolio - week of September 11th, 2017

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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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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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



FeedTheBull - Top Stock market and Finance Sites



About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>