The virtuous trade / Phil throws out so many ideas, that understandably he rejects all calls for a running total of how all ""quoted"" ideas are performing – it would be unworkable. But without such a list, I think it behooves us to call out the trades that have made a difference. January 13 expiration is going to be a big month for me as a significant number of sold put positions will expire worthless. One example of the power of patience and leaving well alone:
VLO – sold Jan 13, 17.5 puts for $3.45 – and this trade was placed in August 2011. VLO is currently a tad over $35!
And as time went by, and I got more experienced – with the help of Phil and the contributions from board members, I started selling short term puts and calls around this position. Sometimes having to roll, sometimes doubling down but always knowing what I was getting into, and feeling very calm and focussed that whatever happened I could handle it. And if I couldn't then there was always Phil to lend a helping hand. All in all, my profits since August 2011 would qualify as a tidy addition to any earnings from the day job.
Thank you Sir.
Thanks to Phil (again) for the lessons on the art of the roll, selling premium and hanging tight under fire (particularly in the first hour of trading-MADNESS). Watching you manage the $25KP has really helped my trading in a big way.
I have been trading for quite a few years and in good years made about 25%. After joining PSW, I followed closely the PSW strategy and my trading profit for this year is close to 70% to date. For fun, I like to mix in a few "Hail Mary" plays that really worked out well, but overall the simpler Buy/Write strategy, as presented by Phil so often, created the majority of the profit.
I don't post much, but I guess this morning has brought me out. This site has made me tens of thousands, every year since I have become a member. It took me nearly two years devoting 3 hours per day to get on the ball, and actually understand portion sizing, and which trades fit my personal trading style. Before that I spent at least two years working on Buffet style fundamental investing. (Intellegent Investor, Security Analysis, ect.). This site really will teach you amazing things if you just pay attention. Literally it has changed my day to day life, has allowed my family and I to move back to the U.S. from overseas with confidence even with a paycut at my day job, and literally put me in a different league financially. Seriously my life and my children's is better because of this site.
Phil, I have to hand it to you. It seemed that you were the only person on the planet that thought stocks falling was still possible. I am glad I listened. About the end of the year I was really beginning to second guess though. Thanks for suggesting taking some profits last Nov. It no longer looks like I missed much.
Phil I have been telling you for a while how I feel like I am really understanding you now and thanking you. Well today may have been my most successful futures trading day since I began here and the week has been spectacular! It has just seemed so easy when you give us a range and I execute properly. Thanks once again for teaching me to fish. My portfolio gained over 10% this week which is just amazing.
Phil, I was so impressed with the personal note in the comments that I went ahead and paid for a months trial of premium that I have been on the fence for awhile about. Just reading the comments makes me already glad for the purchase.
Thanks Phil another great week of guiding us!
/NKD- Kownichiwa Cowboy!! One week of patience and scaling in and out pays off. This is a testament to Phil's fundamental analysis with the PSW technique. Thanks Phil.
Have not done my 10,000 hours, but a couple of years at PSW, and moved from fishing with a single line to owner of a commercial trawler (metaphorically speaking). Now I fish with many lines. It is amazing when you go over the same information time and time again, eventually it clicks. Like planting trees; being the house, 20% sale items, selling into the excitement. and patience. I just sold an AAPL Jan 12 340/390 BCS financed by the sales of Jan 12 275 Put. The trade was put on one year ago for a net credit and exited five minutes ago for a 49 dollar per contract profit. No point in waiting till opex to see what happens, and I will just sell 10 of those VLO puts to make myself net the round 50.
I no longer worry about opex coming as I have adjusted well in time for most positions that go against me. I still make some howlers (RIMM, TBT, TRGT) but I play the percentages and my winners outdistance my losers by many miles.
I would never be in this position if it were not for Phil. He is a treasure, pure and simple. The goose that lays the golden egg if we care to listen and practice. Phil, a mighty big thank you.
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 - I'm with you just little bit longer than a month and you can not imagine how happy I am now, and not just because my P/L improved ( and I'm sure that it will be even better), but I found that the worst thing in trader's carrier is a LONELINESS. Here I found so many bright good guys, I looked for this service for years.
THANK YOU AND TAKE GOOD CARE OF YOURSELF BECAUSE I PLAN TO STAY HERE AND RIDE THIS CREASY MARKET WITH YOU FOR ANOTHER 20-30 YEARS
Phil/ I hope the next 5 year bear market will be as much fun and as profitable as this 5 year bull market. For those who survived 2008/2009, and who imbibed the wisdom of PSW, what a time it has been. Good to have you by my side. I think you are selling yourself short – you need to triple your prices :)
Phil Thank you very much, I appreciate your help and wisdom.
Phil/Eric/Cwan/Matt/Cap/etc.. - I've learned so much from all of you and want to thank you. I'm up 23% this month thanks to all of your advice - Thanks, guys!
Hi Mr. Phill, I am a Venezuelan lady tormented by our politicall situation, who use to be an emerging market trader, and many other executive positins in the finance "arena" and now is trying to built a new concept and service for asset management for clients on my own, I am in the trial and learning process at the moment, I also invest for some friends and myself. I want to congratulate you , because reading you fill my days with a touch of irony (besides ,of course the spectacular market insight) that happens to give me energy, its a joy the remarks and comments even the pictures used, sometimes I just read it for the fun, I completily agree with your thouhts, though we belong to totally different cultures and enviorements and certanly realities Your readings is like a little hand helping me out to be in the market and fight for my devastated country where every single day we looe inches and yards of liberty. You shoul try to writte a book!
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.
I would like to thank Phil and PSW crew for the insight and assistance (even the liberals).
In December I initiated long stock positions buying stock, writing calls and puts in AAPL, WFR and CHK (scaling in and out). Over the last week I have been trimming back my positions selling stock and taking out my callers and putters. I am now back to my initial 25% position that I started with in December. However this time, my cost basis on shares AAPL, WFR, and CHK is $0! With money to spare from those positions.
Phil- I want to let you know that you really helped me make some money this morning when I probably would have lost on my own. I was stuck in doctors waiting rooms most of the morning starting at 8AM. By following the game plan you laid out and using my smartphone, I went short on oil whenever we got to 61.50 and long at 61 waiting for the spikes ahead of inventory. When 10:30 rolled around I was out after selling longs at 61.60 a few minutes earlier. I went short at 61.75-61.80 and voila, rode it down to 60.60 or so. Thank you.
I picked up one of your recommended Gold plays, the July ABX 30s and sold the Feb 35s, which are now mostly intrinsic value. Is it time to roll these to the March 37.50s, or should I wait this spike out?
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,
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.
Thanks Phil for helping make this a much, much better year this year than last. Your tutelage has been so very helpful. Don't think I can say Thanks enough. And I thanks all the members here who were work hard in helping us all to become better traders, and I would say better people as well. The support many of you offered when we evacuated during the fire this past year helped me immeasurably.
Happy New Years to you all!
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.
Phil – great calls this past week, esp. friday and monday. in the old days I would have let Prechter et al scare me into trimming my longs and going short at just the wrong time. your feel for the markets is Tiger-esque. CHK, HOV, BX, TLT and XLF are big winners for me today. My biggest up day in a long time. Thanks!
Nice intraday trading calls this week Phil. You have me hooked on trading SPY options analogously to your DIA moves. I paid some tuition the last few weeks but I think I have the hang of it. Don't be greedy and be happy with 0.05 to 0.10 and sometimes you're lucky with much bigger moves. Thanks for the training!
Phil: UNH, hedged stock position, doing great, up over 50 %,
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!
3 for 3! Sold on initial excitement and made a double on USO, 70% on AMZN and 70% on SPY options from Friday.
Thanks and much appreciated for the suggestions.
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!
I was off having a nice time this week and mostly when I bothered to tune in to the news or CNBC I was only thinking, gee I’m glad I’m missing this!
When I left we were worried about Kim Jong Il but I’ve been passing by TV’s tuned to giant fire balls that have nothing to do with him and the fear factor (now somewhat justified) is driving oil to record levels, likely to be followed by gold and other metals.
Asia continues to plunge, dropping another point or two today while Europe looks weak. We are back in the sort of situation we had back in mid-June where we would rather see a huge drop to a real bottom than another weak recovery. This time the global situation is obviously far worse and we are still way above Jun 14 lows: Dow 10,698, S&P 1,219, NYSE 7,708.
The Nasdaq beat its June low of 2,065 yesterday and should give us the first turn signal (if it does at all) but the SOX continue on an uninterrupted road to hell that has as much chance of accelerating down as it does of turning up. http://stockcharts.com/gallery/?%24sox
Putting additional topspin on the Nasdaq is news that the California District Attorney (overseeing Silicon Valley) is launching a task force to investigate options backdating. This is starting to look like something almost everyone was doing, with over 50 companies now under investigation so get ready for more headlines there. Also bad for tech is a price-fixing probe aimed at chip makers.
The key for watching this market is going to be how middling earnings are received. GE was pretty exactly in line so we will see how they get treated today. Builders will take yet another hit (props to the Prof) as DHI lowers guidance yet again, taking a 10% hit overnight.
I am baffled by the spotty performance of the oil patch, especially the drillers as oil prices continue to climb. Apparently traders think this spike is temporary and, of course, $4 gas may finally lead to demand destruction but I want to see how oil handles $80 before I bet against that sector. Since the first $75 oil spike on 4/24 most of the oil patch has traded down with drillers like PTEN down 20%. APC has been hammered even though their purchase of KMG…
Unlike the other big banks, Goldman's earnings release is a breeze: since the bank has virtually no balance sheet to use as a source of income (or loss), it is all about the income statement. And it was here that for yet another quarter, Goldman surprised to the upside, reporting Q4 Revenues of $8.17BN, higher than the $7.76BN estimated, translating to EPS of $5.08, also above the $4.73 estimate, and nearly 4 times the $1.27 reported a year ago.
Like other banks, Goldman benefited from a big pick-up in trading activity during the period, as investors re...
In the end, it was Theresa May and not Trump which saw the Russell 2000 cut through support and confirm the earlier 'bull trap'. This change coincided with a 'sell' trigger in +DI/-DI. Only stochastics are hanging on to its 'buy' signal.
The S&P experienced heavier volume distribution, but there wasn't a big percentage loss, nor was there a break from the consolidation range
The US Dollar has been moving higher for nearly a decade, as the trend is up. Could the trend be changing? Could King Dollar loose strength here? If King Dollar would turn lower, what opportunities will present themselves?
Below looks at a chart of the US Dollar over the past 30-years, on a “Monthly Hi/Lo/Closing” basis-
CLICK ON CHART TO ENLARGE
The US Dollar finds itself in an uptrend and testing the underside of dual resistance at (1). With the trend being up, if King ...
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Sam Brownback, the Kansas governor whose tax cuts brought him political turmoil, recurring budget holes and sparse evidence of economic success, has a message for President-elect Donald Trump: Do what I did.
In 2013, Mr. Brownback set out to create a lean, business-friendly government in his state that other Republicans could replicate. He now faces a $350 million deficit when the Kansas legislature convenes in January and projections of a larger one in 2018. The state’s economy is flat and his party is fractured...
Come join us for the Phil's Stock World's Conference in Las Vegas!
Date: Sunday, Feb 12, 2017 and Monday Feb 13, 2017.
Beginning Time: 8:00 am Sunday morning
Location: Caesar's Palace in Las Vegas
Caesar's has tentatively offered us rooms for $189 on Saturday night and $129 for Sunday night. However, we have to sign the contract ASAP. We need at least 10 people to pay me via Paypal or we may lose the best rate for the rooms. (Once we are guaranteed ten attendees, I will put up instructions to call the hotel for individual rooms.)
Note: The material presented in this commentary is provided for
informational purposes only and is based upon information that is
considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW)
nor its affiliates
warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
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