Sold out my AAPL mar95 calls. Up over 100% today on them!
I'd like to wish Phil and everyone else that contributes to this board a very Merry Christmas and happy New Year. The wealth of knowledge on here is incredible, and it has greatly contributed to my understanding of markets, politics, and the world in general. This year was when Phil's teachings all seemed to click in place, and my portfolio's performance shot up, and for that I am very grateful. Thank you!
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!
Phil – Great calls yesterday, you were in top form. As I was reading your postings, I had hindsight of what the day brought. The calls were uncanny!
Wow, Phil, we pretty much made 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
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!
Phil, I meant to post over the weekend, but I was busy having fun . Last week was a very nice week for me, and I wanted to thank you for all that you do. I am pretty much back to cash and really feel like I am learning. I have out performed the $5kp by a very large margin. Thanks again for the service you provide.
Phil – BTW, the new STP/LTP coupled with the income portfolio is Perfect! I do not trade all of them, very few actually since I work during market hours. However, following the trades real-time is very educational.
I did enter the ABX call if you recall, I rolled to July on that nonsense news that sent it tumbling. Out today for 110% gain (2.00 stop) not counting covering the loss from the earlier roll. Nonetheless, a good trade.
Keep it up…. Thanks
Phil, Thanks for the long calls@ $ 85 on AAPL. A quick $4900. Paid for my subscription!!
The wonderful resource that Phil has created for us and nourished by its members is so powerful in what it can teach us going forward, but also what we can learn from the past. I never say it often enough, but Phil – thanks for all the work you do for us.
Phil, I have the SRS 2011 $7.50 short puts you recommended awhile back. I sold them for $2.20 and now $1.51 (up 31%) although SRS has been down since inception. This was a nice mellow way to play it like you said, thanks.
Thanks, I managed to make 2k today so I am happy…and feel like I am finally getting it. New equipment and a quiet place to work helps a lot. I am happy for all the members that took your /NKD advice….that was fun I am sure! coke Take your vitamins…I don't know how you do all this! but, keep it up!
WOW!!!!!!!!!!!! How will I ever do anything else in my life that will compare to the wild ride you get trading an ultra etf in the most volatile sector in the stock market the day before option expiration?
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.
I enjoy your informative materials, Phil... as it is obviously beneficial to so many "styles" of trading the markets... long term, swing or day trading the market moves.
As a longer term trader, I really like you long term calls, as I for one recognize the difficulty of calling these, because the further out you go in time, projecting price movement becomes more difficult.
I have to congratulate you for your accuracy... You called the March 2009 market upward reversal almost to the day, and the AAPL reversal to THE day. Only one who has been a student of the economy and the markets over a period of time could have done this, and so many other accurate calls. I'm sure it was difficult and consistent work, but it did pay off... thanks from one who benefited big time !
Phil - I am 3 month follower and shout a big thanks for all the good advice and training. I read all the materials and posts as suggested. I am retired CFO and took over my investments 2 years ago from broker after frustration with returns. I followed some conservative advice for retirees and have 60% bonds currently in a 5m portfolio. I had been doing covered calls on my stocks to boost returns and slowly am getting more aggressive after following your site and my son who has been with you for 6 months. I allocated 1.5m to stocks and am scaling up from 30%. I did some of the trades suggested in early June using Aug & Oct buy/writes on CSCO, WMT, MON, WFR, DO in addition to calls on XOM, CVX, PEP, PG, WM, T that I owned. Most are doing very well (4-24%) in 60 days. My good problem is that instead of getting longer, I will be making 6% quickly (50% plus annualized) and getting called away on many positions. What would you advise for getting long again. Thanks again for such a great job advising all of us!
Phil & Ephmen85: I hadn't thought about selling the covered calls. That should be the easiest strategy for me since I'm a beginner. Thanks a bunch!
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.
Joined last year and and started profitably trading options thanks to everything I have learned here. THANK YOU!!
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!
Phil — gotta thank you for your advice this week, and especially today. I took many aspects of your advice this morning, with all of my shorts -- being prepared on the short side, selling into intial excitement, taking the money and running, not being greedy. I also made money on the your /QM and /YM calls. It used to be I would be terrified of weeks like this one. Now, it feels somewhat comfortable, for want of a better word.
You guys gotta give it to phil–the voice of reason yesterday, last nite and this morning.
Phil Thank you very much, I appreciate your help and wisdom.
Thanks for your thoughts against buying BP ahead of earnings (yesterdays' member comments). It announced a loss of $3.3b and is down 3% in pre-market but still just above the bottom of the chaneel of $40-$50.
Phil: Thank You!
Scaling, Scaling, and Scaling… then patience, patience, patience I'm 2 to 1 short and even on a day the broad market is up I had my largest one day gain in years. The last 6 weeks in fact have been great. I really feel I've learned to use some tools that will enable me to deal with the turbulence ahead. Selling short calls is definitely my preferred approach. Even allowed me to play golf this afternoon while the premium melted away and shoot a career low round. I owe you man!
Tesla et. al. – I've spent many months getting hammered shorting overvalued Momos, until, finally, I internalized Phil's message. Play small; give yourself plenty of room to double/move up the [lack of value] chain in terms of price. Play short; take [Musk's, eg.] latest bleep and sell the spike for a short time frame, because his tweets always come to naught. I've been coining money doing it, I just watch that premium melt away with scarcely veiled amusement. Swinging for the fences is for suckers [me, for a long time]. Those little gains really add up — $2k per week of evaporated premium and you could actually buy a Tesla by the end of the year!!
WISH TO EXTEND A BIG THANK YOU! I netted about $18,000 on the short Jan puts and the annualized ROI/M is mind boggling! Hope to meet you some day and buy you and your significant other a nice dinner.
Thanks for the free disaster hedge ideas. I implemented variations of two of them on SDS bull call spreads and EEM bear put spreads (haven't done the TZA yet) and they really hedged my short term longs nicely today. Makes it seem a lot less like gambling.
You are the man (of the people)!
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!
On Optrader's section yesterday he was asked how he works with AAPL as an investment. He replied that he just ‘plays with the covers'. I've got a separate portfolio where I use primarily this technique over the past 6 months. Up 60% The principles involved are stock selection, patience, patience, using covers to protect profits, rolling covers to maximize premium return, and exiting when covers are gone and stock price is high. Sometimes it's hard to remember where you learn to do this stuff, but much of it is from integrating principles I've learned here with thing I already knew. Thanks for the help on this, Phil and others.
My strategies for trading are obviously going to be very different than Phil’s strategies. For one, I day-trade stocks and do not work with longer term option strategies. My specific investment style is focused on short term investments that gain 2-5%. These rapid fire lucrative trades start to build up into a profitable long term virtual portfolio over time. The keys to my trading strategy are early entry, short term holds, and the earliest exit as possible.
I enter a stock based on what it can do in one to two days (maximum). When I look at a stock, I want to decide where it can be at the end of the day and whether I will be able to enter and exit it in this short term period for a 2-5% gain. Finding winners is the hardest part of day trading, while the entry, to me, is more of a system.
My entry strategy for a given equity depends on whether it has good fundamentals or bad fundamentals, as well as, whether the stock market looks to be moving upwards or downwards for the day. If a stock has good fundamentals for the day (good earnings, upgrades, bullish sector news) and the market looks like it is going to be green, the given stock will most likely gap up. On that gap up, some traders that were in the stock prior to the day will take profits. Usually on any gap up of 2% or higher, there will be a slight pullback in the first ten to fifteen minutes. This pullback is where I want to enter, because it will likely present the most discounted price that I will be able to get for the day, unless for some reason the market turns south.
If the market is looking particularly weak, I tend to stay away from stocks that have strong fundamentals because they probably won’t be able to have a lot of upward movement. Instead, I look to enter short on a stock that is either extremely overvalued, opening 10% up or more, or a stock that has bad fundamentals. When the market is looking red, I enter the stock almost right away. If there are poor fundamentals combined with a bad market, the stock has no reason to move up at the open…
A number of increasing stories and analysts seem to be growing more and more cautious about the stock market. It is not that most agree we are in a great position and the economy is recovering. What they all seem to be saying is that we moved pretty fast, and the market has become a bit OVERVALUED.
For example, I took a quick glance at Seeking Alpha tonight. On their "Macro View" section, the company has a market outlook section with stories about what direction writers believe the market is going. On it, the stories are 2:1 in a negative view of the market. Now, it is always easier to be a bear when the market gets much higher and looks ready for a correction, but if most people are thinking like this…doesn’t that mean its most likely market sentiment.
The market has made some ridiculously great profits, but this week might be a bit of a weaker week. Let’s rundown what is happening this week, what to expect, and what will shape this market’s red and green days.
To start, over the weekend, the big news we got was the shutting down of Colonial Bank. Colonial Bank was a major mortgage lender out of Montgomery, AL. The bank closing was the largest of the year, and the sixth largest of all time. The company had over $20 billion in assets. This is not some measly mom and pop joint. This was a large, second tier, regional bank. BB&T Corp. will be taking over the bank, but this should have some very adverse effects in the market. Especially, since financials have had such a strong run as of late.
One of the most defining economic data points for the week will be housing data. Monthly information on building permits, housing starts, and existing home sales for the month of July will be released. While I cannot venture to guess which way they will go, my one worry is that housing has had a great run. If the data is not exceptional, will it mean the housing sector could come unwinding. Plus, with how exceptional and unexpected last month’s numbers were, could the data be a bit overreaching.
Another important aspect of this week is the retail earnings. Big names in retail continue to release earnings. What we saw last week…
Here’s an interesting article by Graham Summers that touches on an issue discussed earlier today – it does not take $2.7 trillion actual dollars to move the stock market up $2.7 trillion in apparent value. As a corollary, it wouldn’t take that much selling to move it back down. – Ilene
Roughly 30% of US household wealth was destroyed by the collapse in housing and the 2008 Crash. Currently it stands at about $15 trillion, down % from $22 trillion at the 2007 peak. For simplicity’s sake, we’ll call this “assets.”
Now, consider that total US household debt stands at $13 trillion ($2.5 trillion in credit and $10.4 trillion in mortgage). As we noted in previous issues, consumers have only paid off about $50 billion in credit (about 2% of this). Thus we have US household equity at about $2 trillion.
Because consumers can no longer use their homes as ATMs (the home equity line of credit era is over), if we’re going to track how much US household money has flowed into the stock market, we need to focus on money market funds: the proverbial “sidelines” of the stock market.
Well, since March 2009, only $400 billion has flowed out of money market funds. Even more interesting is the fact that individual investors are pouring more money into bonds and income plays rather than stocks: for July, only $4 billion flowed into stock mutual funds compared to $28 billion for bonds.
In spite of this lack of participation, the stock market has kicked off a $2.7 trillion rally since the March lows. With only $400 billion potentially coming from individual investors. we can deduce that US households have only contributed 14% or less of the market’s gains.
Where did the other 86% ($2.3 trillion) come from?
See the Fed’s Balance Sheet, Factors Supplying Reserve Funds. This is essentially the money the Fed has put into the system via various lending windows and liquidity swaps.
As of July 30, it stood at $2.01 trillion.
It’s not hard to see what’s going on here. The Fed lends out money to Wall Street banks. Wall Street banks then use the money to recapitalize their balance sheets and push the stock market higher, creating the illusion of “recovery” and “bull markets” in an effort to get US consumers to “buy in” or begin spending…
This leads to two consequences, one pessimistic and the other one more optimistic. The first one is the unavoidable evidence that extreme events occur much more often than would be predicted or expected from the observations of small, medium and even large events. Thus, catastrophes and crises are with us all the time. On the other hand, we have argued that the dragon-kings reveal the presence of special mechanisms. These processes provide clues that allow us to diagnose the maturation of a system towards a crisis, as we have documented in a series of examples in various systems.
We have emphasized the use of the concept of a “phase transition – bifurcation – catastrophe – tipping – point,” which is crucial to learn how to diagnose in advance the symptoms of the next great crisis, as most crises occur under only smooth changes of some control variables, without the need for an external shock of large magnitude.
The Financial Times is reporting that even as the FDIC probably managed to avert disaster by pushing off Colonial on to BB&T’s lap on Friday, its troubles keep escalating. Sheila Bair is trying hard to sell Texas’ Guaranty Financial ahead of a Monday deadline, however it may have used up its jokers on Colonial, which was supposed to be the “easy sell.”
Guaranty’s fate has become intertwined in recent weeks with that of Colonial Bank, an Alabama-based bank that was forcibly closed on Friday and largely sold to BB&T, another regional bank, in an FDIC-backed deal.
The FDIC, which is juggling failing banks around the US in an effort to minimise the fallout to consumers, had initially wanted to resolve Guaranty’s problems before Colonial’s by arranging a sale of Guaranty, which is struggling under the weight of burgeoning losses on homebuilder loans and mortgage-backed securities.
But regulators’ concerns over Colonial’s instability recently overtook their worries about Guaranty, because of Colonial’s deteriorating credit quality and its role in two federal investigations, so regulators contacted bidders and asked for offers for Colonial last week.
Regulators have been hoping that three banks that had bid for Colonial – Canada’s Toronto Dominion, JPMorgan and Spain’s BBVA – would step in instead as bidders for Guaranty.
Ironically, Sheila is doing as much as it can to prevent PE interest in the failed bank, effectively giving all the leverage in the hands of the banks, which are able to submit lowball bids, in the absence of other, truly interested parties:
At least one private equity consortium, which includes Blackstone, Carlyle, Oak Hill Capital, TPG and Gerald Ford, is considering a bid for Guaranty.
The FDIC, however, has long made clear that it prefers other banks as buyers of troubled financial institutions rather than private equity firms.
Heading into the weekend, the private equity firms had not been given access to Guaranty’s confidential financial data.
One wonders why the artificial barrier, but then one remembers that other BHC’s have access to the Fed’s discount window, and if the artificially inflated loans on Guaranty’s balance sheet actually have to get repriced to par, the banks will have much better access to capital than some mere, capitalist…
With everyone (well, almost everyone – I am one of the lonely skeptics) convinced that we have stepped back from the "edge of the abyss", the title of this article may be viewed as laughable. When you connect the dots, as I will in this article, you will at least stop laughing, and, maybe, realize that we still have a big problem.
We have a confluence of five factors that have the potential to create damage to banking not seen in 80 years, and that includes the Great Depression. We’ll hit these factors one at a time.
First Factor: Banks Are Not Doing Enough Business
Commercial bank credit growth has dropped to 2%, according to Jesse’s Cafe Americain (here). The recent history of credit growth is shown in the following graph.
Now, it is a good thing that banks are conserving capital, since they need to increase capital to offset bad loans.
But, if asset valuations deteriorate (and that is quite possible), the banks need to increase earnings to "earn their way" out of their problem. Interest paid by the Fed for reserves on deposit there (by the commercial banks) are not producing nearly the same level of income as new credit issued commercially under our fractional reserve banking system with much higher interest .
If credit issuance does not increase year over year, banks can not improve their financial condition unless the quality of their existing loan portfolio improves.
As discussed in the third factor, below, just the opposite is anticipated for loan portfolios.
So the first factor in this perfect storm is that the banks are not doing enough business.
Second Factor: Banks Are Failing at a Rate Not Anticipated Two Months Ago
In his article, Jesse mentions reports by Bloomberg that 150 banks are in trouble. Some of these will be larger than many of the 77 (mostly community) banks that have gone under FDIC receivership so far in 2009.
Recent trends indicate that the pick up in corporate finance transactions, especially in the equity capital market may be petering off. After hitting an unprecedented high in June as the market reached the head of what had previously been seen as a fake head and shoulders formation, the July afterburners in the secondary market did not translate into primary market strength. Additionally, the August run rate indicates that the primary market may well have peaked in the May-June timeframe. In the current year the sector which has benefited the most from primary market issuance has unquestionably been Financials, where over $96 billion has been raised in the form of 251 issues. A distant second at less than half the total proceeds is Materials at $42 billion with 3968 unique deals, and bronze goes to real estate which managed to raise $37.5 billion in 162 deals. On the other end, the sector least in need (or least capable of raising) equity capital is telecommunications with just $3.6 billion in 29 deals and retail just above it at $3.8 billion in 43 deals. Yet retail is probably the sector that has benefited the most from the irrational exuberance over the past few months: could this be indicative that neither companies, nor potential investors take the overinflated retail valuations as conducive to a “value” primary entry point? If these companies are unable to capitalize on the ramp up in equities, what good is the use of company stock as valuation proxy? True, stocks can hit 1000x P/E but if this can not be converted into much needed corporate cash, what good is any such rally?
Yet what some may perceive as weakness in equity, has translated into strength for not only investment grade, but also high yield bonds. Primary market investors are gradually retracing and instead of looking at 20% returns promised by primary market operations, they are now content and much more interested with picking 5-10% returns.
LTM Investment grade bond issuance:
The sectors benefiting the most from a high yield issuance bonanza include Media and Entertainment, raising $15.6 billion in 36 deals, followed by Energy and Power and Materials, with $12.4 and $12.2 billion, in 38 and 28 deals, respectively.
Ironically, only 2 real estate high yield deals have been completed to date for $822 million, with consumer services, and retail both…
The Obama administration, in a major shift on housing policy, is abandoning George W. Bush’s vision of creating an “ownership society’’ and instead plans to pump $4.25 billion of economic stimulus money into creating tens of thousands of federally subsidized rental units in American cities.
The idea is to pay for the construction of low-rise rental apartment buildings and town houses, as well as the purchase of foreclosed homes that can be refurbished and rented to low- and moderate-income families at affordable rates.
Analysts say the approach takes a wrecking ball to Bush’s heavy emphasis on encouraging homeownership as a way to create national wealth and provide upward mobility for low- and working-class families, especially minorities. Housing and Urban Development Secretary Shaun Donovan’s recalibration of federal housing policy, they said, shows that the Obama White House has acknowledged that not everyone can or should own a home.
In addition to an ideological shift, the move is a practical response to skyrocketing foreclosure rates, tight credit, and the economic crisis.
Barney Frank The Hypocrite
"I’ve always said the American dream should be a home – not homeownership," said Representative Barney Frank, chairman of the House Financial Services Committee and one of the earliest critics of the Bush administration’s push to put mortgages in the hands of low- and moderate-income people.
What a distortion of reality. Barney Frank was in the pocket of Fannie Mae and Freddie make and their biggest supporter for years. Now he plays on semantics in an unbelievable lie. He would have been better off keeping his mouth shut, but political hacks seldom if ever can.
It’s Better To Rent
The "Rentership Society" as Calculated Risk dubs it, reminds me of a chart I put together way back in Spring of 2005. Note the lower right hand corner of the top chart.
By The Foundation for Economic Education. Originally published at ValueWalk.
Which States Did Americans Leave in 2016?
Migration patterns for 2016 show that Americans tended to move away from high-tax states and into states where residents keep more of what they earn.
United Van Lines, the nation’s largest moving company, recently released its annual movers study report showing that South Dakota overtook Oregon as the top inbound destination. Generally, more people moved toward the West, and states in the Northeast saw the largest exodus of residents. The top four outbound states in 2016, in order, were New Jersey, Illinois, New York, and Connecticut.
When it comes to the future of bitcoin, the "holy grail" has emerged as becoming the first to have a bitcoin ETF approved by the SEC.
Over three years ago, in 2013, the company of the Winklevoss twins, Cameron and Tyler, Winklevoss Capital Management LLC, launched the first proposed bitcoin ETF, the Winklevoss Investment Trust, looking to trade on the HFT-dominated BATS exchange. The SEC is expected to make a decision on it by March. A second group, SolidX Partners followed last July seeking SEC approval for its bitcoin ETF, SolidX Bitcoin Trust, which also would be listed on the NYSE....
“We have become great because of the lavish use of our resources. But the time has come to inquire seriously what will happen when our forests are gone, when the coal, the iron, the oil, and the gas are exhausted, when the soils have still further impoverished and washed into the streams, polluting the rivers, denuding the fields and obstructing navigation.”
– Republican President Theodore Roosevelt
This post is not going to be political. My partner Barry Ritholtz has been at the forefront of the idea that ...
Far above the Arctic Circle, one of the longest-running controversies in U.S. oil drilling is about to reignite.
Bouyed by Donald Trump’s election, Republicans are pushing to allow oil exploration in the Arctic National Wildlife Refuge, the frigid wilderness in northern Alaska that’s been a political battleground for drillers and conservationists for decades.
Consumer Confidence of late has continued to move higher, now reaching above the highs hit back in 2007. Long-Term S&P 500 returns are far below historical norms, when confidence is this high. We are not saying that high consumer confidence means the market is at a top!
Below is a look at the Advance/Decline line on a short-term basis.
CLICK ON CHART TO ENLARGE
Joe Friday Just The Facts; It could be important for support to hold, of this bearish rising wedge above.
Small Caps again took the brunt of the selling as Shorts took advantage of yesterday's small rally back to former support (turned resistance) to enter positions. With the 'bull trap' in full effect, the next target down for the index is 1,308. Of supporting technicals, only Stochastics [39,1] is left to break its bullish alignment,
The S&P took a modest loss, but not enough to break it out of its consolidation. Volume was also lighter. With the Russell 2000 on the way down, it's suggesting the S&P will follow suit....
Once again it's "in the Toilet Thursday" or "Thursday's in the Loo".
In our last episode, How to Poop On A Date? we were graced with a delicate shituation: what ever to do when your finally back at her place, snuggling in for a little "brown chicken brown cow" and you get hit with "Love Potion #2".
This week in How to Poop At Work? ,what to do when your at a big fancy pants meeting, when out of nowhere, you need to download a brown load?
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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).
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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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