Author Archive for ilene

Pending Home Sales Unexpectedly Dive: NAR Blames Tight Supply

Courtesy of Mish.

Fresh on the heels of a glowing existing homes sales report comes news of an unexpected plunge in pending home sales. Economists in the Econoday survey expected a 1.1% increase. Instead, the pending home sales index plunged 2.8%.

Just when existing home sales seemed to be showing lift the pending home sales index, which tracks initial contract signings, is down 2.8 percent in the January report. This points to weakness for final resales in February and March.

The West is the culprit in January’s data, with contract signings down 9.8 percent in the month for year-on-year contraction of 0.4 percent. The Midwest is also weak, down 5.0 percent in the month for 3.8 percent on-year contraction. The South and the West both show no better than low single digit monthly and yearly gains.

Adding to the bad news is a sharp downward revision to the December index, now at plus 0.8 percent vs an initial 1.6 percent. This hints at less strength for February existing home sales, sales that proved strong in last week’s January report which however is now a memory. This setback for resales follows last week’s sharp downward revision for December new home sales and together they point to a housing sector where growth is suddenly struggling.

NAR Blames Tight Supply

Mortgage News Daily reports Highest Home-Buying Demand in Years Stifled by Tight Inventory.

Tight inventories are again being blamed for a downturn in home sales, this time January’s ones. The National Association of Realtor’s® (NAR’s) Pending Home Sale Index (PHSI) declined by 2.8 percent from December, reaching the lowest level in a year. The PHSI is a forward-looking indicator based on signed contracts for home purchases. Those contracts are generally expected to turn into completed sales in about 60 days.

The January PHSI dipped to 106.4 from an upwardly revised 109.5 in December. The December index had originally been reported at 109.0. The index remains 0.4 percent higher than it was in January 2016, but is at the lowest level since then.

This index is beginning to exhibit the same kind of volatility that has marked new home sales in recent months. The index gained 1.6 percent in December, only partially recovering from a 2.5 percent downturn in November.

The January downturn was unexpected. Analysts surveyed


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Another Smelly Durable Goods Report

Courtesy of Mish.

The Census Bureau reports durable goods orders in January rose 1.8% but the good news stops there. December was revised from -0.4% to-0.8%, core capital orders fell 0.4%.

Bloomberg Econoday gets the spin correct in its Durable Goods Synopsis.

Highlights

Throw out the all the advance indications that show unusual acceleration in the factory sector, because the meat of the January durable goods report only shows the usual volatility behind which are sagging numbers for key readings. Aircraft, both domestic and defense, skewed durable goods orders sharply higher in January, up 1.8 percent to hit the Econoday consensus. Not hitting the Econoday consensus, however, are orders that exclude aircraft as well as all other transportation equipment. This reading fell 0.2 percent to come in well below Econoday’s low estimate for a 0.2 percent gain.

The worst news in the report is a 0.4 percent decline in orders for core capital goods (nondefense ex-aircraft). This ends 3 months of strength for this reading and pulls the rug out from expectations for a first-quarter business investment boom as indicated by business confidence readings.

Pulling the rug out from the whole factory outlook is yet another contraction for unfilled orders, down 0.4 percent and which have now fallen in 7 of the last 8 months. This is the deepest contraction since the recession and points squarely at a lack of hiring for the factory sector. In other data, shipments are down 0.1 percent and inventories are unchanged to keep the inventory-to-shipments ratio unchanged at 1.61.

But aircraft is a big positive in this report though monthly gains are not likely to extend far, if at all. Upward revisions to December are a plus for fourth-quarter revisions while another positive is a 0.2 percent January gain for motor vehicles where the outlook however, given the strength of prior sales gains, is uncertain and will pivot on Wednesday’s release of February unit retail sales. Weak exports have been the Achilles heel of the factory sector and today’s report points to a continued lack of demand for U.S. factory goods. Watch for advance data on goods exports in tomorrow’s trade report for January.

Durable Goods Orders and Shipments

durable-goods-2017-02-27a

Diving into the details provides a much better look at what’s really happening than the headline number that was skewed by aircraft orders.

Mike “Mish” Shedlock


Original article here.





Another Scotland Independence Vote Coming Up?

Courtesy of Mish.

In 2014, Scotland held an Independence Referendum on whether or not to braek away from the UK.

The “No” side won, with 2,001,926 (55.3%) voting against independence and 1,617,989 (44.7%) voting in favour. The turnout of 84.6% was the highest recorded for an election or referendum in the United Kingdom since the introduction of universal suffrage.

However, Scotland is not happy with the Brexit vote, and many Scots confident they can win independence referendum next year on account os the hard Brexit.

scotland-independence

Scottish First Minister Nicola Sturgeon has threatened to call another independence referendum since Britain’s decision to leave the EU, saying the House of Commons “would be making a very big mistake” if they thought she was “in any way bluffing”.

But despite polls which suggest Scots would vote to stay in the UK after the yes camp lost by a decisive 10 point margin in 2014, pro-independence insiders have claimed momentum is on their side as Theresa May pushes to sever ties with the EU bloc.

Charles Grant, a Scottish Government adviser said: ”I believe the Scottish Government is thinking very, very seriously about going for an independence referendum next year.

Earlier this month a poll indicated 49 per cent of Scots were behind splitting from the United Kingdom – a growth of 4 per cent on the month before when the Prime Minister was yet to put her cards on the table when it came to EU talks.

But while the British Government has said there is no need to push for another referendum, Holyrood may still drive Scotland to the ballot box yet again.

A spokesman for the Scottish Government said: “We have made it very clear that an independence referendum is very much an option on the table if it becomes clear that it is the best or only way to protect Scotland’s vital national interests.”

The 2014 Scottish independence referendum was agreed after Westminster granted temporary powers to the Scottish Parliament to hold a vote.

The SNP are two votes short of a majority in the Holyrood Parliament, although the Greens have promised to back a bid for a second independence referendum should Ms. Sturgeon’s party propose a bill.

It is likely a similar arrangement would have to be reached between Edinburgh and London for


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Cybersecurity of the power grid: A growing challenge

 

Cybersecurity of the power grid: A growing challenge

Courtesy of Manimaran Govindarasu, Iowa State University and Adam Hahn, Washington State University

Called the “largest interconnected machine,” the U.S. electricity grid is a complex digital and physical system crucial to life and commerce in this country. Today, it is made up of more than 7,000 power plants, 55,000 substations, 160,000 miles of high-voltage transmission lines and millions of miles of low-voltage distribution lines. This web of generators, substations and power lines is organized into three major interconnections, operated by 66 balancing authorities and 3,000 different utilities. That’s a lot of power, and many possible vulnerabilities.

The grid has been vulnerable physically for decades. Today, we are just beginning to understand the seriousness of an emerging threat to the grid’s cybersecurity. As the grid has become more dependent on computers and data-sharing, it has become more responsive to changes in power demand and better at integrating new sources of energy. But its computerized control could be abused by attackers who get into the systems.

Until 2015, the threat was hypothetical. But now we know cyberattacks can penetrate electricity grid control networks, shutting down power to large numbers of people. It happened in Ukraine in 2015 and again in 2016, and it could happen here in the U.S., too.

As researchers of grid security, we know the grid has long been designed to withstand random problems, such as equipment failures and trees falling on lines, as well as naturally occurring extreme events including storms and hurricanes. But as a new document from the National Institute of Standards and Technology suggests, we are just beginning to determine how best to protect it against cyberattacks.

Understanding the Ukraine attacks

On Dec. 23, 2015, a cyberattack penetrated electricity distribution control centers in Ukraine using software vulnerabilities, stolen credentials and sophisticated malware. The attackers were able to open dozens of circuit breakers and shut off power to more than 200,000 customers for several hours.

A year later, the country’s electricity transmission facilities were attacked. That attack also cut off electricity service, though to a much smaller geographic area, and for only about an hour. In both cases, it…
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Le Pen Follows Trump Social Media Tactics, Fillon Wins Investigation Reprieve

Courtesy of Mish.

French presidential candidate François Fillon won a temporary reprieve in charges that he paid his wife and children €880,000 for work they did not do. The charges are dubbed Penelopegate” after his wife Penelope.

An investigation has started, but so far he has not been charged. The investigation is unlikely to conclude before the election. Should Fillon win, he will have presidential immunity.

Magistrates in charge of prosecuting financial crime on Friday opened a formal investigation into claims the conservative candidate misused state funds to pay his wife Penelope and two of his children for fictitious work as parliamentary aides. They gave three judges the task of starting a fresh investigation.

The prosecutors said they made the move to prevent some of the events from falling under the statute of limitations. Investigative judges will look into possible embezzlement, influence-peddling and failure to comply with transparency obligations, they said.

The decision, which caps a preliminary inquiry, suggests that there is enough ground to continue probing the claims that were reported by weekly newspaper Le Canard Enchaîné last month. But it also means police have not gathered evidence to allow the case to be sent straight to trial.

With less than two months to go before the election, the opening of a formal investigation is nevertheless an improvement on Mr. Fillon’s previous situation. Given the typically lengthy schedule of such probes, the presidential hopeful is now almost certain he will not be charged before the run-off round on May 7.

If he is elected, he — but not his relatives — would benefit from presidential immunity. This will help him fend off calls from within his own camp for a “Plan B” candidate.

The “Penelopegate” affair will nevertheless continue to tarnish Mr. Fillon’s campaign. At each political rally, he has been met by loud crowds of protesters hitting saucepans and demanding he reimburse the money.

Le Pen Follows Trump Social Media Tactics

Also consider Le Pen’s online army leads far-right fight for French presidency.

As the battle for the presidency hotted up, signs that Emmanuel Macron, the centrist presidential contender, was polling strongly raised the possibility that he would make the second round vote to face FN candidate Marine Le Pen.

“We needed a real campaign against Macron,” Gaëtan Bertrand, head of


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China Seeks Baby Boom Ponzi Scheme

Courtesy of Mish.

China now encourages childbearing to keep the economy humming and to stave off a demographic decline. Will a new baby boom do the trick?

Please consider China Seeks Baby Boom to Counter Low Birth Rates.

Chinese authorities are looking at ways to encourage people to have more children, less than 18 months after dropping the country’s contentious one-child policy in a bid to boost birth rates and stave off a demographic decline.

The Communist party introduced the one-child policy in 1979 to tackle population growth. It was scrapped in late 2015 following years of warnings from demographers over low birth rates and an aging population.

“Women’s attitudes towards childbirth have undergone a fundamental change. It’s no longer the traditional view of ‘more children means more happiness’,” said Jiang Quanbao, a professor at Xi’an Jiaotong University’s Institute for Population and Development Studies. “Women are pursuing their own education and career development. The opportunity costs of having a second child are large.”

Population aging poses serious challenges for China’s economy and society in the coming years. The population aged 15 to 64 peaked in 2013, and the ratio of children and elderly to working-age Chinese began rising in 2011. China’s pension system is severely underfunded given the payouts due to the coming wave of retirees. 

Baby Boom Ponzi Scheme

The latest Chinese proposal is nothing more than a baby boom Ponzi scheme. Too many people are already fighting over scares recourse, unaffordable housing, food, and energy resources.

All of a sudden, China now wants more people when it cannot find work for those already alive.

How else does one describe this other than a Ponzi scheme? Unfortunately, it’s not just China involved in this madness. Forces in the US and Germany want more immigrants and population growth to deal with similar demographic issues.

Mike “Mish” Shedlock


Original article here.





Proudly Permabullish

Maybe Joshua Brown's quiet period is over? He did at least emerge from his vacation to post Proudly Permabullish, which is a reminder to look at the stock market in between reading depressing news articles. (5-year S&P 500 chart from Yahoo.)

Proudly Permabullish

Courtesy of 

It’s become fashionable in the age of social media to derisively sneer at our fellow investors who are too optimistic and refer to them as “permabulls.” This sort of thing earns us intellectual style points – points which can be accumulated and redeemed to be spent precisely nowhere.

In the meanwhile, we sometimes forget that the greatest investors in history were permabulls. One hundred years ago, J.P. Morgan said that “the man who is a bear on the future of the United States will always go broke.” See my post Optimism as a Default Setting for the whole story behind that.

This week, Warren Buffett said much the same thing, part of an endless recitation he’s been carrying on publicly for more than 50 years now. The below comes from Buffett’s 2016 annual letter to Berkshire Hathaway shareholders:

America’s economic achievements have led to staggering profits for stockholders. During the 20th century the Dow-Jones Industrials advanced from 66 to 11,497, a 17,320% capital gain that was materially boosted by steadily increasing dividends. The trend continues: By yearend 2016, the index had advanced a further 72%, to 19,763.

American business – and consequently a basket of stocks – is virtually certain to be worth far more in the years ahead. Innovation, productivity gains, entrepreneurial spirit and an abundance of capital will see to that. Ever-present naysayers may prosper by marketing their gloomy forecasts. But heaven help them if they act on the nonsense they peddle.

Many companies, of course, will fall behind, and some will fail. Winnowing of that sort is a product of market dynamism. Moreover, the years ahead will occasionally deliver major market declines – even panics – that will affect virtually all stocks. No one can tell you when these traumas will occur – not me, not Charlie, not economists, not the media. Meg McConnell of


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The U.S. Nuclear Energy Dream Is Dying

Courtesy of Michael McDonald at OilPrice.com

The United States was once a projected leader in the nuclear energy race. In the 20th century, the world dreamed of finding a way to provide safe, cheap, and renewable energy, and nuclear power seemed to be the manifestation of those dreams. All of this, however, seems to be coming to an end.

This past week, Toshiba decided to sell its American nuclear power subsidiary at a $6 billion loss. Westinghouse Electric Company, an American company that Toshiba acquired 10 years ago, is in the business of building and constructing nuclear power facilities. This isn’t the first time that Toshiba attempted to offload controlling interest in Westinghouse – all previous efforts, however, have failed.

Many reasons have been cited for this sell-off. Firstly, demand for electricity has been slowing down as of late. Secondly, natural-gas prices have been declining, making it harder to justify the measures necessary to make nuclear power work – one of the primary motivators for these projects was the increasingly high cost of natural-gas. Finally, integration of renewable energy sources (such as wind and solar) have been becoming more prevalent. Again, this makes it harder to justify nuclear energy projects.

However, the biggest barrier to entry for nuclear energy providers is the trade-off between safety and cost. The production of this type of energy can be fast and cheap, but not if companies comply fully with the U.S. nuclear regulatory body. Nuclear energy in America is simply becoming an uneconomic option.

This is problematic on the global scene for a variety of reasons, chief of which is safety standards. The U.S. remains the exemplary model to follow when it comes to regulation of new technologies. If nuclear power in America slows down substantially, the influence the U.S. has over global safety standards wanes, and the world becomes less willing to comply with basic guidelines. Without that scale of market presence from the U.S., the industry can suffer.

This slowdown from the U.S. may be advantageous for state-owned nuclear facilities. Without America as an example, Russia, parts of Asia, and the Middle East become the example to follow – their lack of standards and regulation would be to the benefit of nuclear facilities owned by governments.


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Weekly Market Summary

 

Weekly Market Summary

Courtesy of The Fat Pitch

Summary: All of the US equity indices made new all-time highs again this week. Treasuries were the biggest winner. A drawdown of at least 5-8% in SPX is odds-on before year end, but there are a number of compelling studies suggesting that 2017 will probably continue to be a good year for US equities.

* * *

On Friday, SPX and DJIA made new all-time highs (ATH). During the week, COMPQ, NDX, RUT and NYSE also made new ATHs. All the indices moving to new highs together suggests that this is a broadly based rally. The trend remains up.

For the week, SPX and DJIA gained 1%. NDX notched a 0.4% gain and RUT closed lower. The biggest gain came from treasuries, with TLT gaining 1.4%. We continue to like the set up in treasuries, as explained in detail last week (here).

Little has changed from last week's summary. Instead of repeating those the same messages, we'll highlight four new studies that show a favorable longer term outlook for US equities.

First, SPX has now gone 76 days since the last 3% drawdown ended on November 4, right before the US election. That is the longest streak since July 2006 to February 2007, when the SPX went 150 days without a 3% drawdown. The chart below shows the duration and magnitude of the current rally relative to other long streaks in the past 14 years (yellow highlighting equals the current rally). Enlarge any chart by clicking on it.


The message from this chart is twofold.

First, the current uninterrupted rally is rare and extended from a historical perspective, but these periods can last much longer.

Second, when the current uptrend ends, it is not likely to lead directly into a more significant downturn. Momentum like this weakens before it reverses. In each of the cases highlighted above, after a 3-5% drawdown, SPX either continued higher or retested the prior high before falling lower. Mid-2011, 2012 and 2014 are recent examples of the latter case (shown below). That would be our expectation now as well.


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Charts Of The Week: 10 Reasons To Be Cautious In This Market

Courtesy of Lance Roberts, Real Investment Advice

Visualizing 10-Reasons For Caution

Just recently, David Rosenberg in a recent research note, laid out 10-reasons to be cautious in the market. I thought it would be useful to look at each of these in a visual form to get a better idea of what he is addressing.

The obvious reason to look at these indicators is that market records are records for a reason. As I wrote previously:

“First, “record levels” of anything are records for a reason. It is where the point where previous limits were reached. Therefore, when a ‘record level’ is reached, it is NOT THE BEGINNING, but rather an indication of the MATURITY of a cycle. While the media has focused on employment, record stock market levels, etc. as a sign of an ongoing economic recovery, history suggests caution.  The 4-panel chart below suggests that current levels should be a sign of caution rather than exuberance.”

4-panel-recession-watch

However, while economic data suggests we may be closer to the end of the current economic cycle than the beginning, data related specifically to the stock market is also suggesting the same.

Let’s take a look:

1 – Confidence Levels at 105

The chart below a COMPOSITE confidence index consisting of both the University of Michigan and Census Bureau indices. At 105, the index is currently at levels that have historically denoted the end of an economic cycle. (This should be expected as it is the point in the economic cycle where everything is now “as good as it gets.”)

2 – Investor’s Intelligence Sentiment at 61.8%

The Investor’s Intelligence survey is a survey of professional newsletter writers and professional investors. It has a long record and has been widely adopted as a contrarian market indicator for good reason. At 61.8%, the index is currently at levels normally associated with market peaks both short and longer-term.

3 – Market Vane Bullish Sentiment: 64%

The Market Vane bullish sentiment index is a yardstick for traders as it measures the number of traders that are long a certain commodity. In this case the S&P 500 index. Currently, at 64%,


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Zero Hedge

Ron Paul And Lew Rockwell Discuss "War And Peace In The Age Of Trump" - Live Feed

Courtesy of ZeroHedge. View original post here.

With the new Administration just over a month old, we are seeing both hopeful and discouraging signs of how the Trump foreign policy is playing out.

Mises Institute Founder Lew Rockwell joins Ron Paul in today's program to take a look at Trump thus far...

...

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ValueWalk

Warren Buffett and Solar Energy

By Gregory Silberman. Originally published at ValueWalk.

Warren Buffett has made headlines in the last few years regarding his involvement in the solar industry via Berkshire Hathaway’s ownership of MidAmerican Energy (now a subsidiary of Berkshire Hathaway Energy).  Most notably, the company’s subsidiary NV Energy battled the rooftop solar industry in Nevada, including Elon Musk’s SolarCity (now owned by Tesla).  Buffett strongly supports renewable energy with Berkshire Hathaway Energy (BHE) and noted in his 2015 ...



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Phil's Favorites

Pending Home Sales Unexpectedly Dive: NAR Blames Tight Supply

Courtesy of Mish.

Fresh on the heels of a glowing existing homes sales report comes news of an unexpected plunge in pending home sales. Economists in the Econoday survey expected a 1.1% increase. Instead, the pending home sales index plunged 2.8%.

Just when existing home sales seemed to be showing lift the pending home sales index, which tracks initial contract signings, is down 2.8 percent in the January report. This points to weakness for final resales in February and March.

The West is the culprit in January’s data, with contract signings down 9.8 percent in the month for year-on-year contract...



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Chart School

Weekly Market Recap Feb 26, 2017

Courtesy of Blain.

Before we begin please check out our sister site’s highly popular annual broker review!  This is an elegantly designed site with completely unbiased reviews of brokers – simply a must read.

To narrow down your choice of a broker best suited to you, you can start with the “Best in Class” category lists below where you can see recommended brokers based on aspects that matter most to you. Then read a full-length review and compare your favorites side by side, using the comparison tool to finalize your selection.

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OpTrader

Swing trading portfolio - week of February 27th, 2017

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

 

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

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

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

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



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

The story of the week is Trump, Russia and the FBI. The rest is a distraction (The Guardian)

Narrative switching. That is what the Trump administration is desperately trying to do around Russia right now. The White House reportedly interfered with the FBI in the middle of an active investigation involving counter-intelligence. This was not only foolhardy but also suspicious, as it directly undermined their apparent objective: distracting us.

On 14 February, the New York Times reported that advisers and associates of Donald Trump may have been in direct and cont...



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Mapping The Market

Why Facts Don't Change Our Minds

Courtesy of Jean Luc

Good article about facts and why we reject them:

WHY FACTS DON’T CHANGE OUR MINDS

New discoveries about the human mind show the limitations of reason.

By Elizabeth Kolbert

In “Denying to the Grave: Why We Ignore the Facts That Will Save Us” (Oxford), Jack Gorman, a psychiatrist, and his daughter, Sara Gorman, a public-health specialist, probe the gap between what science tells us and what we tell ourselves. Their concern is with those persistent beliefs which are not just demonstrably false but also potentially deadly, like the conviction that vaccines are hazardous. Of course, what’s hazardous is not being vaccinated; that’s why vaccines were created in the first place. “Immunization is one of the triumphs of modern medicine,” the Gormans no...



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Digital Currencies

As Bitcoin Surges To Record High, China Prepares Its Own Digital Currency

Courtesy of Mike Shedlock (Mish)

Bitcoin hit an all-time high over $1200 today.

Traders are happy because the SEC is expected to rule on a Bitcoin ETF by March 11.

Meanwhile, Bloomberg reports China Is Developing its Own Digital Currency.
 

After assembling a research team in 2014, the People’s Bank of China has done trial runs of its prototype cryptocurrency. That’s taking it a step closer to becoming one of the first major central...

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Kimble Charting Solutions

Crude Oil; Energy stocks suggesting its about to fall, says Joe Friday

Courtesy of Chris Kimble.

Below takes a look at the price action of Crude Oil, Energy ETF (XLE) and Oil & Gas Exploration ETF (XOP) over the past three years.

Could Energy stocks be suggesting the next big move in Crude Oil again? Which direction are they suggesting?

CLICK ON CHART TO ENLARGE

At this time the intermediate trend in Cru...



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Members' Corner

The Manchurian President

 

The Manchurian President

Courtesy of  at BillMoyers.com

As the Trump presidency unravels, unraveling the country along with it, there is no real political antecedent, no lessons from American history on which to draw and provide guidance. We are in entirely uncharted waters.

But there is an antecedent in our popular culture that provides a prism through which to view the contemporary calamity, especially the alleged collusion between Trump’s henchmen and Russian intelligence to deny Hillary Clinton the presidency. I am not the first observer who has ...



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Promotions

Phil's Stock World's Las Vegas Conference!

Learn option strategies and how to be the house and not the gambler. That's especially apropos since we'll be in Vegas....

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:  9:30 to 10:00 am Sunday morning

Location: Caesars Palace in Las Vegas

Notes

Caesars has offered us rooms for $189 on Saturday night and $129 for Sunday night but rooms are limited at that price.

So, if you are planning on being in Vegas (Highly Recommended!), please sign up as soon as possible by sending...



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Biotech

The Medicines Company: Insider Buying

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

I'm seeing huge insider buying in the biotech company The Medicines Company (MDCO). The price has already moved up around 7%, but these buys are significant, in the millions of dollars range. ~ Ilene

 

 

 

Insider transaction table and buying vs. selling graphic above from insidercow.com.

Chart below from Yahoo.com

...

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All About Trends

Mid-Day Update

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

Click here for the full report.




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

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FeedTheBull - Top Stock market and Finance Sites



About Phil:

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

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

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