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Will We Hold It Wednesday – Nasdaq 5,400 Edition

5,440 was our line in the sand.

Since March 21st we've been using that line to short the Nasdaq Futures (/NQ) as a move above that line was in no way justified without some real improvements in earnings and now, with earnings season upon us, we're still not seeing evidence yet that the market should be breaking higher.  

In that same 3/21 post, we had 11,550 on the broader NYSE and now the NYSE is at 11,375 – down 175 (1.5%) while the /NQ is back at 5,415 this morning.  Our Long-Term Portfolio was up 148.9% that morning and, as of yesterday's close, we're at +162%, gaining $65,402 in less than a month so we certainly aren't complaining about the extended rally and, as I said at the time, BALANCE is key and we have been using some of those profits to bulk up our hedges into earnings.

Aside from being long on the Nasdaq Ultra-Short ETF (SQQQ), we also have shorts on Nasdaq leaders Amazon (AMZN) and Tesla (TSLA) and neither one of those are doing well at the moment as more and more money has been pouring into the leading stocks while the rest of the Nasdaq has been selling off.  Propping up the index leaders while selling the rest keeps the "dumb money" flowing into the Nasdaq while the "smart money" heads for the exits – leaving the dumb money to hold the bag.

The Chaikin Money Flow (CMF) is an oscillator derived from the Accumulation/Distribution Line. CMF values are calculated by adding all the A/D line values for the period and dividing this by the total volume for the period.  When there is strong buying pressure with high volume, this pushes the indicator higher and strong selling pressure with reduced volume pushes the indicator lower. The Accumulation/ Distribution line either reaffirms the trend or gives a warning that the trend is about to change direction. 

We had massive inflows into the markets since the election and especially since the beginning of the year but there was a drastic turn in mid-March and money was actually flowing out of the market last week.  Seems to me people are getting nervous and the VIX confirms this – the only thing not confirming it is the PRICE (not VALUE) of the Nasdaq because it's being manipulated to to keep attracting that ETF money – even as the manipulators dump their shares.  

Image result for nasdaq 100 weightingsManipulating an index is easy to do when the top 10 stocks are 53% of the index by weight.  TA people don't take these sort of things into account – they act as if it's a level playing field and this is why charts aren't worth the paper they are printed on (not that anyone prints anymore).  

So the only earnings we really care about are going to be the Nasdaq's Big 10 because it's the Nasdaq that is leading all the other indexes higher and the Nasdaq is, in turn, being led higher by these 10 stocks.  If that illusion falls apart (spoiler alert) – there's a very, very naked Emperor standing behind the market curtain. 

179519_600

Speaking of news from the Empire, North Korea had a good laugh at our expense as it turned out the aircraft carrier Trump said was heading to NoKo was actually thousands of miles away and heading in the opposite direction.  Pence rushed out to cover up for Trump's clear lie by standing on another aircraft carrier (the Ronald Reagan) in Japan and saying it would be "deployed" but the Reagan is in Japan for service and will "deploy" as scheduled – in a few weeks.  

In North Korea, the U.S. Navy’s admission that the Carl Vinson was actually thousands of miles away on exercises off Australia’s coast and won’t arrive to the Korean Peninsula until next week prompted the state-run news service to say Washington “now bluffs that it was a ‘warning’ act” against the country.

In South Korea, Hong Joon-pyo, the presidential candidate from former leader Park Geun-hye’s ruling party, said: “What Mr. Trump said was very important for the national security of South Korea. If that was a lie, then during Trump’s term, South Korea will not trust whatever Trump says.”  Chinese news portal Guancha.cn declared: “Media around the entire world have been duped by Trump again!

Credibility matters folks, especially if we teeter off into another Global Financial Crisis, whether it's ignited by China's housing bubble bursting or Japan's debt spiraling out of control or Frexit or war in Korea/Syria/Afghanistan… or simply a slowdown in US consumer spending – any of those things can send the markets quickly off a cliff and, whatever Trump says then – who is going to believe him? 

Believe in hedges, not false profits and keep plenty of CASH!!! on the sidelines – just in case.  These are uncertain times and the markets are priced for certain record profits – it won't take much for that premise to fall apart and, anyway, Dollars are cheap right now, back at our 99.50 buy line (/DX) and May $25 Dollar ETF (UUP) calls are only 0.75 with UUP at $25.69 so very little premium on those makes them a fun way to play outside of the Futures.

Oil inventories are today (10:30) and we shorted at $53 (/CL) in our Live Member Chat Room earlier this morning but tight stops over that line as this is the last week we'll be short – unless there's a really silly move up – until July.  A stronger Dollar will help put pressure on oil as well.

We also like the Nasdaq (/NQ) Futures short below that 5,415 line because, so far, I don't see the earnings to support even a move back to 5,440, let alone new highs.

 


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  1. Good morning everyone!

    Join us as 1pm (Eastern) for another LIVE weekly webinar!

    http://philstockworld.enterthemeeting.com/m/PTKUUCBV



  2. Good article and charts about household debts:

    http://ritholtz.com/2017/04/household-debt-great-recession/


  3. It may just be Comcast in Houston, TX but your site was unreachable for a little while.


  4. Good Morning.


  5. SHLD – Took a little more of the table. 

    The stock has more than doubled since early February !


  6. Craigs – I posted twice yesterday morning about GNC.  Unfortunately, I got in too early and was sitting with a pretty big loss, but like you, I picked some up below $7.   Now position is very profitable.  Took some off at $9.50.


  7. Also bought some more FNSR on this morning's sell off.


  8. careful with shorting today coming off very oversold levels  

    The NASDAQ and  S&P 500 very oversold and have rebounded from that condition; generally  carries us higher.


  9. Good morning!  

    I was just reminded why I like LQMT so much:  

    Working Capital Days History

    My kids have 40,000 shares from when they were 0.15, now 0.26 – I'm hoping for a 10-bagger ($1.50) down the road. One of the very few penny stocks I play but I think the potential is so cool:

    Edited Transcript of LQMT earnings conference call or presentation 10-Mar-17 9:30pm GMT

    Ted Talk

    Liquidmetal® Passes Implant Study:

     

    In February of 2017, LQMT received long-term implantation results from parts 3, 10, 6 and 11 of the ISO 10993 (Biological Evaluation of Medical Devices) suite of tests, which include evaluation of genotoxicity, sub-chronic systemic toxicity, and pyrogenicity. LQMT alloy LM105 passed all of these tests well within the allowable limits. These results, combined with previously completed tests from ISO 10993 parts 10, 11, 4, and 5 which cover sensitization, irritation, acute systemic toxicity, hemocompatibility and cytotoxicity, indicate that the Liquidmetal process is compatible with a wide range of medical device requirements including long term implants.

    “The results of these tests are very exciting and it positions the Company well to engage medical device customers in a broad range of implantable device applications including, cardiac rhythm, cochlear, spinal, and orthopedic implants among others. The Company will now focus on partnering with medical implant manufacturers to identify specific applications to further explore the use of Liquidmetal,” said Paul Hauck, Executive Vice President of Sales and Marketing at LQMT.

    Big Chart – Just waiting for the Nas to confirm weakness (or the RUT to confirm strength).

    Site/Dshear – I didn't have any downtime this morning that I noticed. 

    SHLD/Albo – Good job on that one.  

    Oversold/Angel – I don't think anything is oversold at these levels but we'll see.  

    /ES testing 2,350 – that's a biggie to break.


  10. Hi Phil your favorite IBM is looking a bit sick today!!! I did not expect much of them in the first place. They run out of tricks.


  11. Can anyone explain to me what that LQMT chart above indicates?


  12. IBM/Yodi – They were my favorite at $120 a year ago.   I totally lost interest at $180 and $160 was our original target for Jan 2019 so, on the whole, they are right on track.

    A good example of why we sell even stocks we love if they get ahead of themselves. Also a good example of why we bought back the short puts in the LTP ahead of earnings:

    • IBM – Same thing as we're cleaning up:  Let's buy back the short Jan $105 puts (0.85  = $850) but the $25 bull call spread is only $20, so we can leave that.  

    Now we'll be able to sell them again!  

    LQMT/Jet – Just that they're not going to be running out of cash anytime soon (they have 22,000 days of working capital at current burn rate).  LQMT has a long-standing contract with AAPL and every time a new IPhone comes out, there's rumors that they will be making one out of liquid-metal but I very much doubt LQMT can produce the volume AAPL needs at this stage but, hopefully, one day…


  13. Oil down 1Mb, Gasoline up 1.5Mb, Distillates down 2Mb so not a terrible report but rising /RB is worrying on the demand side.  Oil $52.72 at the moment and my guess is, with the high barrel count and contracts expiring tomorrow, we will at least test $52.50 and hopefully break lower.  


  14. Dsheara  / Phil

    FYI

    Greg just fixed a site issue for me working fine now


  15. Phil/LQMT,

    getting into 10,000 now. will add more if it drops…

    thanks as always.

    Regards


  16. Phil-

     

    What month oil futures are you talking about?

     

    Oil down 1Mb, Gasoline up 1.5Mb, Distillates down 2Mb so not a terrible report but rising /RB is worrying on the demand side.  Oil $52.72 at the moment and my guess is, with the high barrel count and contracts expiring tomorrow, we will at least test $52.50 and hopefully break lower.


  17. Phil

    Should we sell some IBM puts today or wait?

    Thanks


    • Stocks reclaim yesterday's losses at the open, although the Dow is weighed by IBM, -5.1% after posting a 20th consecutive Y/Y sales decline; Dow flat, S&P +0.3%, Nasdaq +0.5%.
    • Among other earnings reports, Morgan Stanley +3% after beating top and bottom line estimates.
    • European markets are mixed, with Germany's DAX and France's CAC both +0.2% but U.K.'s FTSE -0.2%, where the parliament is expected to approve Prime Minister May's plan for a snap election on June 8; in Asia, Japan's Nikkei ended +0.1% while China's Shanghai Composite closed -0.8%.
    • U.S. Treasury prices have surrendered part of yesterday's gain, with the benchmark 10-year yield trading 3 bps higher at 2.20%.
    • U.S. crude oil +0.3% at $52.55/bbl ahead of the EIA's weekly inventory report.
    • Also still ahead: Fed Beige Book report

    • The IMF and the World Bank are kicking off their spring meetings with a slew of speeches from monetary leaders.
    • The fun will start this morning at 9 a.m. with a press briefing on the World Economic Outlook.
    • Optimism about a global recovery could be clouded by worries over protectionism in advanced economies.

    • President Trump is "absolutely not" trying to talk down the strength of the U.S. dollar, Treasury Secretary Steven Mnuchin was quoted as saying in Wednesday's edition of the FT.
    • He also talked about currency manipulation. "To the extent you manipulate a currency that advantages the U.S., it’s not currency manipulation. This is a defined term."

    • "Canada does not accept the contention that Canada's dairy policies are the cause of financial loss for dairy farmers in the U.S.," Ambassador David MacNaughton said in rebuttal to President Trump's surprise criticism on Tuesday. "The facts do not bear this out."
    • Trump leveled the trade threats during an event in Wisconsin where he unveiled his "Buy American-Hire American" executive order.
    • Related tickers: WWAVDFLWAYKHC

    • EIA Petroleum Inventories: Crude -1.0M barrels vs. -1.47M consensus, -2.2M last week.
    • Gasoline +1.5M barrels vs. -1.94M consensus, -3.0M last week.
    • Distillates -2.0M vs. -0.99M consensus, -2.2M last week.
    • Futures +0.02% to $52.42.
    • MBA Mortgage Applications
    • Composite Index: -1.8/% vs. +1.5% last week.
    • Purchase Index: -3.0% vs. +3.0%.
    • Refinance Index: +0.2% vs. 0.0%
    • 30 year mortgage rate at 4.22% vs. 4.28% last week
    • March's compliance data shows "higher conformity" with the OPEC, non-OPEC supply cut pact reached late last year, OPEC Secretary-General Mohammad Barkindo told a conference in Abu Dhabi.
    • "Our collective action will continue to prove effective," he declared, adding that the group will decide at its May 25 meeting whether to extend output cuts beyond June.
    • Crude futures +0.3% to $53/bbl.

    CB&I gets another award for ZPC refinery

    • Chicago Bridge (CBI +1.9%) receives a contract from Zhejiang Petroleum and Chemical for the license and engineering design of a single-train 220 kta diphenyl carbonate unit, based on Versalis technology.
    • "CB&I appreciates the opportunity to provide an additional technology to ZPC's complex in China, making it the largest single-train DPC plant in the world," CEO Philip Asherman declared. "This award underscores the confidence ZPC has in us as a technology leader for the region."
    • Ford (NYSE:F) car registrations +16.5% to 158,368 units in March, according to the European Automobile Manufacturers Association.
    • Overall EU registrations +11.2% Y/Y to 1,891,583 units in March. The calendar shift of Easter into April this year impacted the comparison to last year. Double-digit gains in registrations were recorded in Italy, Spain and Germany during the month.
    • Ford market share: 8.2% vs. 7.8% a year ago.
    • Ford YTD registrations +9.7%.
    • EAMA release (.pdf)

    • Honda (NYSE:HMC) car registrations -14.5% to 21,682 units in March, according to the European Automobile Manufacturers Association.
    • Overall EU registrations +11.2% Y/Y to 1,891,583 units in March. The calendar shift of Easter into April this year impacted the comparison to last year. Double-digit gains in registrations were recorded in Italy, Spain and Germany during the month.
    • Honda market share: 1.1% vs. 1.5% a year ago.
    • Honda YTD registrations -11.6%.
    • EAMA release (.pdf)
    • Jaguar Land Rover car registrations +26.0% to 46,047 units in March, according to the European Automobile Manufacturers Association.
    • Overall EU registrations +11.2% Y/Y to 1,891,583 units in March. The calendar shift of Easter into April this year impacted the comparison to last year. Double-digit gains in registrations were recorded in Italy, Spain and Germany during the month.
    • JLR market share: 2.4% vs. 2.1% a year ago.
    • JLR YTD registrations +14.0%.
    • Results include the Jaguar and Land Rover brands.
    • EAMA release (.pdf)
    • Toyota (NYSE:TM) car registrations +18.8% to 89,750 units in March, according to the European Automobile Manufacturers Association.
    • Overall EU registrations +11.2% Y/Y to 1,891,583 units in March. The calendar shift of Easter into April this year impacted the comparison to last year. Double-digit gains in registrations were recorded in Italy, Spain and Germany during the month.
    • Toyota market share: 4.6% vs. 4.3% a year ago.
    • Toyota YTD registrations +19.4%.
    • Results include the Toyota and Lexus brands.
    • EAMA release (.pdf)
    • Credit Suisse lifts Coca-Cola (KO -0.1%) to an Outperform rating after having the Dow stock set at Neutral.
    • The investment firm thinks incoming CEO James Quincey will push a growth agenda that will unlock new revenue streams from regional brands.
    • Also keep an eye on M&A activity with Coca-Cola. Potential targets include the Monster Beverage (NASDAQ:MNST), LaCroix (NASDAQ:FIZZ), Yoplait (NYSE:GIS) and Arizona (private) brands. The company already has an 18% stake in Monster.
    • Source: Bloomberg

    IBM -5% premarket as sell-side bulls, bears, and neutrals weigh in

    • via Bloomberg
    • Goldman's James Schneider calls IBM's Q1 a "tepid report," with weak margin performance maybe to revive investor skepticism  on the sustainability of core operating EPS growth. Guidance implies a substantial margin ramp in H2, one the market may take a wait-and-see approach on. He reiterates his Neutral rating and cuts the PT to $170 from $175.
    • Morgan Stanely's Katy Huberty is also concerned with margins, noting the deterioration in Q1 was at a faster pace than H2 of last year. She remains bullish though, calling H1 of this year an "air pocket," while investors underestimate the company's transformation to a cognitive and cloud platform. She's rates IBM Overweight with $212 price target.
    • A bear on stock prior already, Jefferies James Kisner says earnings were poor quality thanks a large contribution from intellectual property income and an artificially low tax rate. He sees the underlying EPS as more like $1.60 vs. the $2.38 reported. His cuts his price target to $135 from $145.
    • Shares are down 4.9% premarket to $161.77.
    • Previously: IBM -3.6% as quarterly revenue drops yet again (April 18)

    Barnes & Noble swings lower

    • Barnes & Noble (NYSE:BKS) is down 5.35% on moderate volume after pricing a block offering of 4M shares was priced at $8.75.
    • Bloomberg notes that shares of B&N hit their 50-day moving average yesterday.
    • Barnes & Noble is down 21% YTD.

    Sirius XM down 2% as Morgan Stanley cuts to Sell

    • Not only is growth in the new car market in the U.S. likely to slow, but analyst Ben Swinburne and team believe subscriber growth in used cars has peaked as well.
    • In the bear case, Swinburne sees net subscriber adds dropping from 4.1M to 3.4M over the next three years – this with the shares currently trading at a premium relative to historical growth.
    • Swinburne is the lone Sell on the Street on Sirius (NASDAQ:SIRI), along with 8 Buys and 10 Holds.
    • Shares -2% premarket

  18. QC/IBM

    I'd wait until it settles down.  Maybe next week.  What's the hurry, right?


  19. LQMT/Pat – Keep in mind it's super-risky.  Both my girls chose the stock over birthday presents – hopefully they are good pickers.  

    Oil/Jeff – June is now the front month (/CLM7), now $54.68 after bouncing off $52.58.

    You know I love shorting /TF at 1,370!  

    IBM/QC – I'm for waiting.  Still looking for market correction, which would take IBM down too.

    • via Stephen Morris and Stefania Spezzati at Bloomberg
    • Hoping to fix what they see as conflicts of interest in the current model, Europe's central planners in a few months will require asset managers to separate trading commissions they pay from investment-research fees.
    • It presents a quandary for banks – charge too little and regulators will accuse them of gaming the new rules (by essentially "giving away" research), or charge too much and potentially send trading business from big clients elsewhere.
    • A few money managers say they're being quoted $50K for a basic fixed-income package from JPMorgan (NYSE:JPM) analysts, while Deutsche Bank (NYSE:DB) and Commerzbank (OTCPK:CRZBY) are reportedly pitching a metered "pay as you go" approach.
    • Some whale hedge fund packages are said to include perks like VIP analyst access, conference discounts, and unlimited research notes.
    • Under the current model, bank research costs clients about $75K annually, estimates Integrity Research.
    • The U.S. has no plans to follow Europe down this regulatory path, meaning it could make sense for some money managers to move their business to the States.

  20. There goes $52.50!   That's the stop now – congrats to the players.  

    Make that $52.25!  

    /TF going the other way, testing 1,375.  

    US Treasury Sec on : "To the extent that you manipulate a currency that advantages the US, that is not currency manipulation."

    Reuters: China creating state-led consortium for Saudi Aramco IPO

    • China is creating a consortium, including state-owned oil firms Sinopec (SNP -1.2%) and PetroChina (PTR -0.7%) as well as the country's $800B sovereign wealth fund, that will act as a cornerstone investor in Saudi Aramco's expected IPO next year, Reuters reports.
    • The planned Chinese investment would make it more likely that Aramco would seek a listing in Asia, with Hong Kong currently the front-runner among bourses in the region, according to the report.
    • Saudi authorities plan to list up to 5% of Aramco on the Saudi stock exchange in Riyadh and one or more international markets.
    • Philadelphia Energy Solutions, the east coast's largest refiner, will take just five rail deliveries of North Dakota's Bakken crude oil in May and none in June, Reuters reports, a sign that the impending start of the Dakota Access Pipeline is upending trade flows.
    • At its peak, PES would have routinely taken ~3 miles' worth of trains filled with Bakken oil each day during its 2013-15 peak, but it will be more lucrative for producers to transport oil to Gulf coast refineries after Dakota Access begins interstate crude oil delivery on May 14.
    • The long-delayed pipeline will provide a boost for Bakken prices and is seen as unofficially ending the crude-by-rail boom that had revived east coast refining operations.
    • The east coast reportedly has averaged just ~100K bbl/day of crude rail deliveries in recent weeks; east coast refiners operated by Phillips 66 (PSX -0.3%) and PBF Energy (PBF +0.2%) are still receiving modest volumes of Bakken crude.
    • PES is owned by Carlyle Group (CG) and a subsidiary of Energy Transfer Partners (ETP+0.7%).

    • State officials in California are making a round trip from Sacramento to the Bay Area in hydrogen fuel cell EVs tomorrow to show support for the research and developments efforts for the burgeoning ZEV (zero emission vehicle) concept.
    • Hydrogen fueling stations in Hayward and San Jose will be used to power up the vehicles on the trip. The adventure can be followed on Twitter under the #H2Tour hashtag.
    • The caravan will include a Honda Clarity fuel cell model and a Toyota Mirai. Participating organizations include the California Air Resources Board, California Energy Commission, Governor’s Office of Business and Economic Development, and other members of the California Fuel Cell Partnership.
    • Looking ahead: Though hydrogen is the most abundant element in the universe, the lack of hydrogen-fueling infrastructure has held back progress for the EV alternative. Some companies, including Daimler (OTCPK:DDAIF) and Tesla (NASDAQ:TSLA), aren't plannng on using hydrogen fuel cells, while others like Honda (NYSE:HMC) and Hyundai (OTC:HYMLF) are pushing ahead with model development. BMW (OTCPK:BMWYY) and General Motors (NYSE:GM) are still in the lab with their hydrogen joint ventures. If hydrogen power is going to work for consumers it will be Toyota (NYSE:TM) that blazes the trail. The Japanese automaker plans to test the response to the Mirai hydrogen fuel cell sedan in China, Australia, the United Arab Emirates and Canada this year and next.
    • For investors, there's unlikely to be a short-term bet on hydrogen fuel cars. The bigger question is where the industry stands in 2020 or 2030? And who wins?

    A Chinese Internet giant just made a big move to take on Tesla in the self-driving car space

    European utilities commit to no new coal plants after 2020

    Kate Spade takeover still in the mix

    Prisons and jails are forcing inmates to pay a small fortune just to see a doctor


  21. LRCX – semiconductor beat, nice pop. green shoots?


  22. CL- Wheeee!


  23. /RB-anyone adding Long here?


  24. CL- Phil where would you stop out so as not to be greedy? Are we trying for 51.75 or 51.50?


  25. FNSR / Albo,

    What's the catalyst for today's down move?  I don't see anything.


  26. LRCX/Scott – Up and up on that one.  

    Oil/Criags – Well now the stop is $52, just keep lowering it every time it crosses an 0.25 line.  Of course, $51.50 would be the 2.5% line and I doubt we hit that in one short – especially without a bounce so, realistically, $51.75 is a good non-greedy exit but, even as I write this, $52 is stopping out (though we could re-enter on a move back below).


  27. NYA rejected at 12,400 and RUT coming back down.


  28. Thanks Phil. Glad I finally learned not to be greedy with KC as that is doing what it always does after popping a bit and cratering back down.


  29. Got out of /KCN7 just in time! 

    Beige book at 2pm.  Too bad I hate the new format but we'll take a look.


  30. Once again, the morning pop fades.


  31.  BUD   somebody buys 30,000 Sept $125 calls at the $1.40 offer.  $5M trade


  32. I recently saw in person the inside of a TSLA Model X.  Has anyone else seen it?  It looks horrible.  Like a very cheap SUV.  Very plain, not that luxurious at all.   A Kia looks way nicer than that.  No wonder why Consumer Reports ranked it the second worst mid size luxury SUV.  Audi was first and a major difference in interiors plus it's half the cost.  I have no doubt when real competition comes into the market, TSLA will be slaughtered.  Just a question of how high does it go until that time?


  33. /Phil/KCN7- are you going long again here or waiting?


  34. rustle – Model X's are all over here in Norcal.  I see 5 model S's per day vs 1 Model X.  

    They remind me of a Rav4.  No idea why anyone would buy it.  

    People are fighting for charging ports here.  I've literally seen yelling matchs in parking lots cause people leave a car there for hours and go shopping.


  35. Phil, any thoughts on Cocoa (CC).  Trading at 1850……..down from 3100+ about a year ago.  That's a 40% haircut over the past year. Are people giving up on chocolate? 


  36. BIOC- Pharm is this one a dead issue or worth a look when it drops back down to the mid 1's? I think I remember you liked them for a little bit, right?


  37. Phil / DPZ – thoughts on shorting the stock going into earnings? Way overvalued at current levels


  38. Torq.

    DPZ In to earnings Ex div date was 3/13 PE 40.8 and a yield of 1.08% I would like to learn what you like about the stock ?


  39. yodi – I don't have any feelings towards the stock other than I think it is overvalued and might be worth playing on the short size going into earnings.


  40. Model X/Rustle – I saw it at the dealers and was surprised it wasn't way nicer for that price.  I don't know about ratings but the Range Rover is "only" $85,000 and now gets 22/28 mpg and it's more comfortable than sitting in my living room.  Oddly, the Tesla weighs the same (5,000 lbs), but a lot of that is battery weight, I suppose.  

    New Tesla Model X is too heavy to legally drive over the Brooklyn …

    /KC/Ravi – Well the trading halts at 1pm and we're finishing at the lows on a 2.5% drop so the 5% Rule says at least 1.25% follow-through from here.  I'd look for 5% below $145, which is $137.75 as a dead bottom but anything close to $140 starts me buying with conviction.  

    Charging ports/Burr – Well what do people expect drivers to do when the whole concept is you go shopping while you charge.  Imagine if TSLA sells 10x more cars – how can they possibly all get charged.   There's still only 353 US Super-Charger stations – about 1/10th what was promised.  And the stupid thing is his BS promise to build free charging stations discouraged Governments and private enterprise from making investments to build the infrastructure needed for electric cars to flourish.  

    These are all the super-chargers near me:

    Range anxiety indeed!  Also, the reality of going to the Jersey short in the summer and counting on charging at Asbury Park, which has 8 bays to service whatever percentage of 2M cars TSLA has (not much, luckily) – no thanks!   And how does Philly have none?  

    If I were TSLA, I would partner with the best restaurants in certain areas and have them provide free charging while you eat (maybe a discount on the meal?).  Then people could have fun checking out charging stations/restaurants when they travel.  

    Cocoa/Ult – Been a big move away from sugar/chocolate consumption, not sure if it will come back.  I think old people lose their taste for chocolate (not me!) so perhaps something to do with aging population.  Shame because it turns out it's good for you.

     The US chocolate confectionery market is set for a 1% volume decline between 2016 and 2021 as Americans’ GDP per capita is set to fall while the category is caught in an “anti-sugar crossfire”.

    US consumption of cocoa ingredients fell 5,000 metric tons (MT) between 2010 and 2015 and could face further constraints, according to research by Euromonitor International. It says that chocolate confectionery made up 44% of cocoa use in 2015, but the market has faced competition from the dairy and snack bar sectors as consumers look to reduce sugar consumption.

    Volume declines Euromonitor said cocoa has been the casualty of the war on sugar. “Chocolate confectionery, and by extension cocoas light, does not look set to improve, with our forecast figures suggesting a volume decline of 1% between 2016 and 2021,” said John George, ingredients analyst at Euromonitor.

    I also think it has something to do with package shrinkage – a lot of manufacturers are giving you less stuff for more money these days. 

    DPZ/Torq – They are a no play for me as I hate the product and can never believe they are doing well.  High p/e means they are ripe for a takedown but EPS growth has been running 20% so forward 30x ($6/share) is not that unreasonable though it really makes me cry to think of that many people eating this crap and thinking it's pizza.

    OOPS!  Webinar time!


  41. FTR WTF???


  42. FTR/Jabo – oh. that's because I bot some yesterday…


  43. Fun story: Trump winning again! Selected buffoon king by small French village:
    http://www.dailykos.com/stories/1654347


  44. /RBM7 at 1.65? Any interest? 


  45. Phil

    TSLA what is the short put spread July?

     

    Thanks


  46. Bill O'Reilly gone at Fox.  Won't miss ya.


  47. Phil

    When you have time can you give me the area in China you were referring to in the WEBX today.  The one that is  interesting for possible growth.

    I wanted to talk to a friend about it No Hurry

     

    Thanks


  48. Rustle – Agreed.  Arrogant, smug SOB.


  49. TEVA wtf???


  50. And yet TSLA motors on slowly upward.  Trying to analyse their believers is like trying to analyze Trumps brain.  Might as well go long


  51. Biggest scam on TSLA was that almost half the money raised recently went to retire Solar City Bonds, half of which were bought by Space X which is 59% owned my Musk.  This is like a big pyramid scheme.


  52. RIP Bill O'Reilly!  

    FTR/Jabob – Earnings are on the 2nd, I don't see anything today. 

    /RB/Jeff – Tempting but I'd wait for tomorrow.  In the Webinar though, we're buying USO July $9 long calls, now $1.75 but I offered $1.70 so no fill.

    TSLA/QC – Now we have 6 short June $300 calls at $15 and the June $300/270 bear put spread at $14 with TSLA now at $305 (so bear puts spread would be worthless).

    China/QC – This one:

    China to build massive city southwest of Beijing- Nikkei Asian Review

    I'm interested in working on projects there – I really love the long-term opportunity.

    TEVA/Jabob – OMG, you're right, down 0.25 now!  

    TSLA/CDN – May as well go long – what could possibly go wrong?

    Image result for pets,com stock crash

    Just like, Rustle.


  53. At least NFLX is dropping.


  54. meant 53% owned by Musk not 59%


  55. Debt/Pstas – If base rates kick up to 4%, the World will collapse.  

    Wow, oil couldn't even make it back to $51!  


  56. re Debt:   In my day, a mortgage rate below 7% would leave you salivating.  My first house had a rate of 18%.  Seems like it could never happen again………..or could it?


  57. @CDN

    I remember in 1998 when I bought my first place I had an 8 5/8% rate and was happy.


  58. QCOM – Reports after the close.

    And VZ in the morning.


  59. @rustle  Can you imagine in Spain with negative interest rates how they actually apply the full amount of the payment to the principal and throw in a few bucks to help out.  How do they make money?….volume


  60. 18%/CDN – It's happening in Argentina and Ukraine now.  Those poor people…

    top countries with the highest interest rates infographic

    That's why Mongolians live in these:

    Image result for mongolia yurt

    Actually, it's not a bad idea.  When you think about it, what a bill of goods they sell us making us think we need houses and all that stuff in the houses – just so we can pay interest to the bank and taxes to the Government.  

    It might not be elegant but I'd have $6,000 a month left over to stay in hotels with!   Look, this guy has a computer in his:

    Image result for mongolia yurt


  61. DAX futures below 12,000.


  62. wow i take a few hours off and the energy sector collapses

    o rielly is will be working for breitbart soon or will be in protracted pissing match with fox

    buying some gas and oil

    need booze


  63. Phil – "When you think about it, what a bill of goods they sell us making us think we need houses and all that stuff in the houses – just so we can pay interest to the bank and taxes to the Government."

    Bravo. Materialistic indoctrination has those sheeple programmed to consume and chase the bag.


  64. Angel – need booze – me too!


  65. Booze won't help me. I took a flyer on RB short at 1.73. Phil- with expiry April 28 what are the chances we will seee 1.7 again?  


  66. JPY/USD  - 3/10 – 3/27 beautiful 115-110 then took a vacation 3/27 – 4/10.

    Since resumed 111.5 – 108 zone, ill-liquidity carry should have it heading for 103 next leg down.

    Things might get interesting come June.


  67. I love when I actually get something right, as i did when I flipped long on oil this afternoon after making money shorting all the way down from 53! Went long at 50.60and out at 50.98


  68. Detailed bearish article on TSLA, with some interesting things I hadn't heard before.  Great if you need to strengthen your resolve with your short position.


  69. QCOM -looks like good earnings,  stock up 3% AH.



  70. need booze

    Me too.   I decided to go to a byob italian restaurant tonight and consume a bottle of Nickel & Nickel 2007 cab from my collection.   ( Stags Leap District )


  71. At least I will have 10 days in Sardinia to consul me with both a Verminino and Cannanou.  if RB does not turn around it may be might last time !


  72. i am going w a cheap tequila and a cold linoleum floor 

    thought we bottomed in the stock market i got bottomed by the stock market

    and blah blah blah


  73. ROFL angel… We might not be done for the week.

    I have decided I am going to go vote on Sunday for the French elections. And try to be on the winning side this time! And help avert a catastrophe. That will be 2 presidential elections in 6 months.


  74. After hours rant of the day:

    I just opened my mail to read an 11"x 5" color post card urging me to "stand with the free market and oppose the importation of price-controlled medicines."  One whole side of the card lists reasons why price controls don't work- 70's gasoline; 80's bread shortages in Russia; 90's East Germany auto industry and 2000's commodities unavailable in Venezuela.  The reverse side says "America leads the world with more than half of all pharmaceutical and biotech research because we don't have price controls. Lets keep it that way."

    Then it says please call your Senator, Ted Cruz , to stand up.  ( paid for by Americans for Tax Reform  http://www.atr.org )

    All I can say is FU and I don't mean freakin unbelievable.  Now on to that cab.


  75. We are week away from a possible government shutdown (another hit for the market) and Cruz is worried about it:

    http://www.dailykos.com/story/2017/04/19/1654404/-Irony-dies-again-Ted-Cruz-concerned-that-radical-left-will-demand-government-shutdown

    It's a but ironic coming from him though as he is the one that caused the last one in 2013 but apparently the irony is lost on him:

    "I will say I'm concerned. I think [Senate Minority Leader] Chuck Schumer and the Democrats want a shutdown," he said, according to the Texas Tribune.

    He added that the party's base is currently demanding that Senate Democrats "engage in across-the-board obstruction" to anything proposed by Republicans or President Trump.

    He should know what obstruction looks like I guess. 


  76. Don't like RE taxes? Turks and Caicos do not have any. That is why every there are million dollar condos and houses there. And great weather. 


  77. OMG- completely forgot about the shutdown looming.


  78. Albo – FU FNSR!

    Actually, I have been trying to sell puts and didn't put my usual order today. Lucky me, it seem I'll get better pricing now.


  79. Freedom Caucus only knows how to say NO after Obama, no clue on how to compromise or govern.Prudent people only shut down their enterprise for valid reasoning.

    Can not figure out why Bill O'Reilly books are so popular..


  80. STJ – Some patience is definitely required with FNSR.  MGM analyst is cautious about the current quarter.  The CEO has already stated it is somewhat slow.  But he's confident about strength this year and next year.  Stock is trading like we are near the end of the cycle.  Not so. 

    RIR, who know as much, if not more than anyone, is as close to pounding the table as they ever get.

    Stay the course, mon ami !


  81. Sorry, MKM analyst.


  82. Phil

    what do you think about https://www.seedinvest.com/offerings ? I know some of them would be risky and not worth looking in to but there can be an interesting idea. Would like to know your thoughts. 

    Thanks as always

    Pat


  83. I missed the webinar today – what was the the thought on oil after the big drop?  (in general)


  84. WASHINGTON (Reuters) – U.S. Secretary of State Rex Tillerson on Wednesday accused Iran of ‘alarming ongoing provocations’ to destabilize countries in the Middle East as the Trump administration launched a review of its policy toward Tehran.<p>Tillerson told reporters the review, which he announced on …


  85. Sean Spicer’s explanation on the Carl Vinson makes no sense

    <b>(CNN) —</b> On April 12, in an interview with Fox Business Channel’s Maria Bartiromo, President Trump made clear that North Korea’s ongoing testing of missiles would not go without a response from the US.<p>”We are sending an armada. Very powerful,” Trump told Bartiromo. “We have submarines. Very …


  86. Analysts who examine satellite images of North Korea reported on Wednesday that they had spotted some unexpected activity at the country’s nuclear test site: active volleyball games in three separate areas.<p>The surprising images were taken on Sunday as tensions between the United States and North …


  87. WASHINGTON (Reuters) – A Russian government think tank controlled by Vladimir Putin developed a plan to swing the 2016 U.S. presidential election to Donald Trump and undermine voters’ faith in the American electoral system, three current and four former U.S. officials told Reuters.<p>They described …


  88. LONDON — It is almost one year after the Brexit referendum and the UK is still subject to political shocks.<p>Prime Minister Theresa May surprised the public when she called for an early general election on Tuesday, and sent cautious savers to seek safety in physical gold.<p>The Pure Gold Company said it …


  89. <b>Updated at 6:30 p.m. ET</b><p>A group of liberal lawyers is suing the Justice Department and FBI over President Trump’s tweeted allegation of wiretapping ordered by then-President Barack Obama.<p>American Oversight is demanding records that support or disprove Trump’s March 4 tweet, “Just found out that …


  90. Rupert Murdoch stood behind his top American asset, the anchor Bill O’Reilly of Fox News, for years, shrugging off a sexual harassment scandal in the mid-2000s and multiple complaints about Mr. O’Reilly’s behavior that surfaced behind closed doors.<p>Mr. Murdoch prizes loyalty and profits, both of …


  91. Despite a quiet entrance, Amazon’s foray into influencer marketing sent shock waves across the entire marketing industry this past month.<p>Many experts consider this a game changer for the space and a powerful signal that the influencer marketing industry is here to stay. Others note that Amazon’s …


  92. What if you could talk through your skin? What if you had a mouse you could control with your brain?<p>These are just two of the mind-blowing questions Facebook’s Regina Dugan posed to the audience at the company’s F8 developer conference, and the vision she laid out was so ambitious you could almost …


  93. The sportswear company was one of the biggest losers in a survey of America’s teens. Here’s why that’s a big deal.<p><b>Under Armour</b> (NYSE:UA) (NYSE:UAA) …


  94. While the market has been generally euphoric over Trump’s proposed fiscal agenda (even if in recent weeks it increasingly looks its implementation …


  95. Exchange-traded funds are making stock markets dumber — and more expensive.<p>That’s the finding of researchers at Stanford University, Emory …


  96. In recent years, things have been overwhelmingly bad for the Great Barrier Reef.<p>Scientists say that one of our world’s greatest natural treasures is now truly “terminal.” This news comes after sequential, massive bleaching events — which is what happens when ocean temperatures rise beyond levels …


  97. BOGOTÁ, Colombia — Protesters demanding elections and a return to democratic rule jammed the streets of Caracas and other Venezuelan cities on Wednesday. National Guard troops and government-aligned militias beat crowds back with tear gas, rubber bullets and other weapons, and at least two people …


  98. Theoretical warnings about risks inherent in China’s shadow banking system became all too for 150 customers of China’s largest private bank, when …


  99. Apple has a history of being one of the most environmentally conscious companies, and it’s about to take those efforts a step further. According to Apple’s 2017 Environment Responsibility Report released today, the company’s latest environmental initiative will see it “stop mining the earth …


  100. /Phil/TSLA-GM

    265 Apr Calls got partially put to me this morning as my order to close them earlier in the week didn't fill.

    Any ideas here would be good. Thanks.


  101. How Venture Capitalists Really Assess a Pitch

    Before Lakshmi Balachandra entered academia, she spent a few years working for two venture capital firms, where she routinely witnessed a phenomenon that mystified her. The VCs would receive a business plan from an entrepreneur, read it, and get excited. They’d do some research on the industry, and …


  102. Passwords are a nightmare to remember — but Microsoft thinks it has a way to do away with them for good.<p>The American tech giant has announced an alternative way users can sign into their Microsoft accounts, using only an app on their smartphones.<p>Instead of memorising a long and convoluted password, …


  103. Recently, several members and staffers on the House Intelligence Committee, which is investigating Russia’s role in the Presidential election, visited the National Security Agency, in Fort Meade, Maryland. Inside the enormous black glass headquarters of America’s largest spy agency, the congressmen …


  104. The Environmental Protection Agency on Tuesday asked a federal court to delay an oral argument in a challenge involving a 2012 regulation limiting the amount of mercury, lead and other airborne toxins emitted from power plants.<p>While the power sector has largely already complied with the rule, …


  105. Whether you’d rather dive into shark-filled waters off the coast of Fiji or hover above the frigid Mirny Airport in Siberia, Google Earth’s new …


  106. by Sprott Money – Apr 18, 2017 4:46 PM<p>The Western world is mired in a Greater Depression. To people who are paying attention, it couldn’t be more …


  107. TOS moved to new contracts 


  108. I have been contemplating a new (used)car andit got me thinking about my current hybrid vehicle and what will happen to the giant bed of batteries in it when it is taken out of service and then I thought about the millions and millions of cars just like it and what will happen to all of those batteries? I don't think they can be recycled and so does my trying to help our Earth by using less gas end up choking it with more poisonous refuse? Just wondering if anyone knows the answer to this question, so I might feel better (or worse) about my decision to get a hybrid 10 years ago. 2007 Toyota Highlander which runs just as well as it did when I bought it in 2007, so no rush.


  109. Our fingerprints are quickly replacing PINs and passwords as our primary means of unlocking our phones, doors and safes. They’re convenient, unique, and ultimately more secure than easily guessed or forged passwords and signatures. So it makes sense that fingerprint sensors are coming to protect …


  110. Here is what you need to know.<p><b>The White House is reportedly taking another stab Trumpcare.</b> The Trump administration is trying to make progress in its attempt to repeal and replace Obamacare before Trump’s 100th day in office, which happens next week, CNN reports.<p><b>China is reportedly relaxing</b> …


  111. WASHINGTON (AP) — The Latest on the Trump administration discussions on the Paris climate accords (all times local):<p>2:30 p.m.<p>A White House meeting where President Donald Trump’s aides were to hash out whether to keep the U.S. in an international climate agreement has been canceled.<p>Spokeswoman Sarah …


  112. Tax increase yields $4.6M for Vegas stadium in first month

    LAS VEGAS (AP) — Taxpayers contributed more than $4.6 million for an NFL stadium in Las Vegas in the first month that a new increase on area hotel taxes went into effect— ahead of projections for the state’s share of the project.<p>The preliminary tax collection figures from March for the stadium that …


  113. MIAMI BEACH, Fla. (AP) — Thousands of bacteria-infected mosquitoes were released in the wild Tuesday near Key West, testing a new way to kill mosquitoes that carry Zika and other viruses.<p>The Florida Keys Mosquito Control District released 20,000 male mosquitoes infected by the Kentucky-based …


  114. <b>(CNN) —</b> President Donald Trump said Tuesday ‘you always have to be concerned’ when he was asked how worried Americans should be about the possibility of nuclear war with North Korea.<p>”Look, you always have to be concerned,” Trump told CNN affiliate WTMJ in Wisconsin. “You don’t know exactly who …


  115. Been trading silver this morning buying at 18.15 and selling at 18.18 and I've paid for the McMuffins!  Also shorted TF at 1370 and bought it back under 1369 once and now doing it again, but this time I may hold a bit longer if we show weakness elsewhere. 


  116. Oh. and woke up to a nice gain on KC which I bought yesterday at 140 and sold this morning at 142.30. Will take another poke if it drops to 141ish.


  117. No inoffensive way to say the “n-word,” Fla. senator learns

    TALLAHASSEE, Fla. (AP) — No matter what variation of the ‘n-word’ is spoken, a Florida state senator is learning the term is still offensive as Democrats and Republicans admonish him for using it during an exchange with two African-American colleagues.<p>Republican Sen. Frank Artiles tried to say his …


  118. American electric companies are keeping a close watch on President Trump’s unraveling of Obama Administration climate and clean-energy policies, but they do not appear to be changing course because of it.<p>Utilities are holding fast to a clean-energy trajectory because of a suite of other influences, …


  119. The Peru Ministry of Energy and Mining just released their silver production data for February, and it was a whopper to the downside. Actually, I was …


  120. If you filed for an extension on your taxes this week, you’re right in step with the Trump administration and Republicans in Congress. They’ve put off voting on their promised tax overhaul until after they take another whack at repealing and replacing Obamacare.<p>That’s got some Republicans …


  121. 5 reasons the government might shut down

    Trump is eager to put his stamp on the federal budget, but Democrats are in resistance mode.<p>The deadline to keep the federal government open is just about here, but a deal is far from done.<p>With just five workdays left until government funding expires, lawmakers return next week to all the same …


  122. Trump’s missing 90-day cyber plan

    He pledged in January to quickly develop a program for countering hackers, but no one seems to know who’s in charge of developing it or where it is.<p>President-elect Donald Trump was very clear: “I will appoint a team to give me a plan within 90 days of taking office,” he said in January, after …


  123. WASHINGTON (Reuters) – World finance leaders are gathering on U.S. President Donald Trump’s home turf on Thursday to try to nudge his still-evolving policies away from protectionism and show broad support for open trade and global integration.<p>The International Monetary Fund and World Bank spring …


  124. General Motors says it will immediately halt operations in Venezuela after its plant in the country was unexpectedly seized by authorities.<p>GM (GM) described the takeover as an “illegal judicial seizure of its assets.”<p>The automaker said the seizure showed a “total disregard” of its legal rights. It …


  125. <b>(CNN) —</b> US President Donald Trump said he was sending “an armada” to Korean waters to potentially deal with threats from Pyongyang.<p>But its no-show has caused some South Koreans to question his leadership and strategy regarding their unpredictable neighbor in the north.<p>And as the country prepares to …


  126. Neomi Rao, a little-known law professor at George Mason University, could soon become one of the most powerful officials in Washington.<p>President Trump has nominated the conservative lawyer to run the obscure but powerful Office of Information and Regulatory Affairs, a gateway through which federal …


  127. Having long been considered one of the most stable democracies in the world, Britain will hold a new general election on June 8 — barely two years after the last. However, with the Conservative Party on course for securing a comfortable majority, political uncertainty may not be the biggest risk …


  128. 3 killed during anti-government protests in Venezuela

    <b>(CNN) —</b> At least three people were killed in Venezuela when clashes broke out during anti-government protests described by opposition leaders as the “mother of all marches.”<p>Supporters of President Nicolas Maduro also held a counter rally Wednesday as opposition marchers gathered in the streets.<p>An …


  129. SEOUL (Reuters) – North Korean state media warned the United States of a “super-mighty preemptive strike” after U.S. Secretary of State Rex Tillerson said the United States was looking at ways to bring pressure to bear on North Korea over its nuclear program.<p>U.S. President Donald Trump has taken a …


  130. Once critical of global deals, Trump slow to pull out of any

    WASHINGTON (AP) — The “America First” president who vowed to extricate America from onerous overseas commitments appears to be warming up to the view that when it comes to global agreements, a deal’s a deal.<p>From NAFTA to the Iran nuclear agreement to the Paris climate accord, President Donald …


  131. Craig / batteries;

     

    As all in life, there are black and whites, batteries is a matter where I always had losses, heavy losses,A123, AXPW, Valence …. the batteries can be recyclated  but as usual, it means a non economic free market activity unless you tax it somehow, if you want to read a bit about this, John Petersen is a good source.

    https://seekingalpha.com/author/john-petersen/articles#regular_articles


  132. • Oil claws back losses as Kuwait expects Opec-led output cut to be extended beyond June<br>• FTSE 100 struggles for direction in cautious trade<br>• Pound holds on to gains, trades above $1.28 against US dollar<br>• China stocks snap four-day losing streak<br>• Euro hits three-week high in early trade<p>12:16PM<p>Global …


  133. Looking for a great place to live? These six cities offer some pretty solid bang for your buck.<p>More Americans are renting homes than ever before, and …


  134. Except perhaps for people involved in their making and the occasional Super Bowl shiner, no one really likes ads. Many will even go to great lengths …


  135. Amid widespread unemployment, young French voters are seeking radical alternatives to establishment politicians.<p>France’s far-right National Front leader Marine Le Pen is feverishly wrapping up her campaign ahead of the country’s first round of presidential elections on Sunday. There’s widespread …


  136. <b>The following is a summary of our recent interview with market technician Jonathan Krinsky, which can be accessed on our site here or on iTunes …


  137. Getty Images<p>President Donald Trump’s tax reform may have suffered a premature death.<p>Rest in peace tax reform, we hardly knew ya.<p>The much awaited tax overhaul promised by President Donald Trump may be dead before it even got anywhere.<p>Shyam Rajan, a strategist at Bank of America Merrill Lynch, on …


  138. Good morning!  

    Futures are up about 0.25%, oil $51.33.

    /RB/Latch – I'm confused, you say you were short, that should be great but I'm guessing you are long.  Back near $1.68 already, $1.70 very likely by tomorrow but I wouldn't risk the weekend.  Note that had you started with a small amount and doubled down at $1.65, your average would have been $1.69 and you'd already be out of trouble.  Never start trading futures with any position you aren't HAPPY to DD twice and THEN ride out for the long-haul.  If you are not that certain about playing 4x – don't bet the 1x!  

    Good trading Craigs – especially the non-greedy exits!  

    Nice take-down on TSLA, Palotay.

    Nickel/Stock – Good stuff!  Great place, they have a nice tour and tasting.  LOL on Cruz shenanigans – sadly, most people are not critical readers.  It's kind of the same logic they use to scare people away from government health care in general – using buzzwords and mis-applied comparisons to make an emotional appeal that cuts through logic.  

    Cruz/StJ – What a stain on humanity.

    Seedinvest/Pat – It's the new regs that allow anyone to invest in a startup and there's a lot of good to the concept but you are paying way, way more than you would as a VC – it's like buying startups for retail prices and, of course, the controls are very limited.  At PSW Investments, we're taking a different tac – offering seed money and mentoring to take companies TO the stage where they can crowdfund (or get VC funding).  By making the earlier stage investments, we own 2.5%-10% of the companies for 1/10th the price that they end up asking the crowd-funders to pay.  As this platform grows – we're positioning ourselves to become leaders in the mentoring space.

    In fact, Trade Exchange just hit the App store – we own 10% of this company and have been working to develop it since early last year.  PSW Investments has put about $60,000 into the company and, if we were to crowdfund, we'd be asking a few million now but we'll be cash flow positive very quickly and won't need more money (there are a few other investors). 

    Oil/Jeff – We're long now, using the chart we talked about the other day:

    TSLA/Ravi – Well, you just want to buy the stock with the $265 they gave you for your short shares and then sell (if you still want to be in on our trade) 2x the June $300s, now $22 so that's $44 to cover your loss between $265 you got assigned at (less what you collected for the short calls) and the $305 you had to buy the stock back for.  

    Batteries/Craigs – Try this:

    Tesla's Electric Cars Aren't as Green as You Might Think | WIRED

    The Environmental Impacts of Battery Production | Black & Veatch

    Electric Cars: Environmental Impact Is Worse than Advertised …

    Why Your Electric Vehicle Might Not Be as Green … – Popular Mechanics

    /KCN7/Craigs – Got your wish already.  I'm hoping for $140 again but if we go back over $1.41 I'll buy a couple with a $140 stop.


  139. Well Thanks Phil and Palotay for making me feel even worse about the hybrid I thought was helping the environment. 

    Non greedy has been the hardest thing for me to learn in my futures trading and it is the reason I have not been as profitable as I should  be up until now. That has been a long and well learned lesson.