Phil's Newsletter

Thursday Thoughts – Tesla’s Emperor Musk Has No Clothes!

Our Tesla (TSLA) short is looking good!  

Despite releasing an earnings report that looks more like a sales brochure (and the CFO promptly quit, so he won't have to justify these numbers) it's pretty clear to investors that all is not well under the hood of the auto hobby shop.  You have to make much more than 8,000 vehicles a month to be considered an actual "manufacturer" – in 1914, with 13,000 employees, Ford (F) produced 300,000 Model Ts while TSLA's 13,058 employees have only managed to produce 75,000 cars (mostly the Model S) in their "amazingly automated" plant.  

You would think, 103 years after Ford invented the assembly line, that Tesla could do a little better but hey, give them a couple of more years and they might give the 1914 Model T a run for its money!  Given the shortfall in production (90,000 cars were promised for 2016) and the rapidly bleeding cash position, the departure of the CFO and the massive dilution of the shareholders (SCTY was given stock), we're very confident the $2,163 short we gave you yesterday will return the full $7,500 on March 17th (up 246% in less than 30 days) so you're welcome for that and happy St. Patrick's Day!  

Other than warning you not to buy the dip in TSLA, I've lost interest and am moving on.  Paulo Santos wrote a great article analyzing their earnings if you are interested, but we have bigger fish to fry now that we're done with Tesla – no sense beating a dead horse, even an electric one.  Just be aware that there are only 790 Super Charger sites in the US and that's 36% growth from last year – how do they get to 300,000 sales with that slow growth (and there are 114,533 gas stations)?

So, what else is going on in the World?  Well, we scored a nice win on Natural Gas Futures (/NGV7) from yesterday's live Trading Webinar with a nice $1,190 per contract gain for our Members – not bad for a half day's work, right?  

The weak Dollar is boosting all commodities this morning as it slumps back to 101, down 0.5%…
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Will We Hold It Wednesday – Tesla’s 7% Solution

How high can the market get? 

"The 7% Solution" was the "lost" manuscript of Dr. John Watson recounting his famous patient's recovery from cocaine addiction.  In a similar manner, we have a market that is clearly on crack and, coincidentally, the Nasdaq Composite is up exactly 7% (5,350) from it's 5,000 line since Jan 1st – time for a bit of reflection indeed!  

The real story to the Nasdaq is, of course, Apple (AAPL), which is up 19% at $137 from $115 at the start of the year.  AAPL is about 15% of the Nasdaq so it's responsible for 2.85% of the 7% gain in the Nasdaq, which is 40% of 7% – that's quite a burden for one company to carry.  However, we feel the move in AAPL is justified so it's not AAPL's value we're questioning but whether or not AAPL should have dragged his 99 brother and sister stocks up the hill with him or are they all irresponsibly flying too close to the sun and investors are about to get burned?

There are a lot of overpriced (by normal standards) stocks on the Nasdaq but I think Tesla (TSLA) can serve as a good proxy this evening when they report Q4 results (or lack thereof) after running up 53% since Dec 2nd, when they were at $181.50 (now $277).  That's a market cap of $44.6Bn, just shy of Ford (F) at $49Bn and GM (GM) at $56Bn – even though TSLA produces just 50,000 cars a year and lost approximately $2Bn doing it.  That's a loss of $40,000 per car people!  How on Earth are they going to sell $35,000 cars if they are losing $40,000 per $90,000 car they sell now?  

We're short on TSLA in our Short-Term Portfolio as this Q should include the "earnings" of SolarCity, Musk's solar venture which had been bleeding cash before TSLA acquired it.  Musk has to check a lot of boxes and explain how he's going to sell over 100,000 Model 3s in 2017 when there isn't even an actual car yet.  Our short play is this:

Nowhere to run on that one as it's a March spread, we need TSLA to disappoint tonight or it's an…
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Terrific Tuesday – Market Comes Back With Higher Highs

Up, up and away!  

The markets are looking well-rested after a long weekend and US Futures are once again off to the races – for no particular reason, of course.  Who needs a reason when things are going to be so great – again?  Things in Europe are pretty great, despite the rampant Socialism and, ew, immigrants – as Eurozone Business Activity jumped from 54.4 to 56 in February – the best reading in 6 years.  

Those fools are still following those failed Obama-style policies the Trump team has vowed to reverse as quickly as possible so let's hope the President will be able to save us from impending prosperity or, even worse, successful diversity and that disgusting goodwill towards refugees and don't even get me started on free trade, free medicine and housing for the poor – it's a sick, depraved state and they're not going to fool us with all their "success" – we know a Socialist plot when we see one, right?

Fortunately, our Top Trade Ideas (see review here) since the election have been 95% bullish with 11 of our 14 November/December picks already making money (they are generally long-term trade ideas).  The 3 "losers" (so far) are certainly worth a look, especially our lone bearish hedge using the Dow Ultra-Short ETF (DXD), offset with a short put on Bed, Bath and Beyond (BBBY), though the original trade is down so the new set-up would be:

  • Sell 10 BBBY 2019 $35 puts for $3.45 ($3,450)
  • Buy 40 DXD July $12 calls at $1.30 ($5,200) 
  • Sell 40 DXD July 16 calls at 0.35 ($1,400) 

The net of that spread is $350 and it gives you $12,000 of upside protection if DXD goes from $13 to $15, which is up 15% and DXD is a 2x short so the Dow would have to fall 7.5% to collect in full but, at $13, the spread is $1 in the money and pays $4,000 (a $3,650, 1,042% return on cash) if the Dow simply doesn't go higher than 20,600.  That makes it an excellent hedge. 

You are, of course, obligated to
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Philstockworld Top Trade Review

Image result for top trade ideasThe pressure is on!  

Top Trades has become one of Philstockworld's most popular Memberships and that's a shame because I actually hate trading services that just give out trade ideas.  Unfortunately, that's what the market demands and, though Top Trade Members miss out on the trading education and deep discussions we have in our Live Member Chat Room, they usually do get a lot of great trades.

That is, until September they did!  In our first year of Top Trades, beginning in August of 2015, 96 out of 119 Trade Ideas (80.6%) were immediate winners and half of the initial losers turned around over time and became winners as well.  Perhaps it was shooting fish in a barrel in a bull market.  Unfortunately, our second year got off to a rough start, with just 7 of our 16 ideas in September and October winning by Dec 10th (we have to give them some time before reviewing).  Of those 9 losing trades:

  • ERIC is improved but still red
  • TEVA has not improved
  • MON is now a winner 
  • CMG is a home run
  • SGYP is a huge winner
  • LL got worse
  • TASR is now a winner 
  • TWTR still in the red 
  • JO was a winner but now a loser again (wild swings) 

So 4 of our 5 losers are now winners and these are long-term trades, for the most part – it's not like we can expect every one to win immediately.  The point is that these reviews are simply initial snapshots to see how we're doing – in case our trade need adjustments in their early stages – they are far from the final word on these trades.  In this month's review, we will pick up in November and review the next two months.  

The secret to our success in Top Trades is PATIENCE!!! Patience is the hardest thing we try to teach our Members at Philstockworld as it tends to take years of practice and the nice thing about the Top Trades Membership is that you don't have a choice – we make
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Faltering Friday – Market Finally Pulls Back on Day 2,003

DJIA2,002 trading days.

That's how long this bull market has been going on.  That is also exactly how long the 1920s bull market lasted so today is the great Crashiversary of that historic event – happy Black Friday to you all!

There is, of course, no reason to expect a significant correction today – we are simply passing a milestone that makes this the longest bull rally in history (assuming we survive the day). Of course, like many pre-crash markets, the volume sucks:

"For decades rising volumes have preceded a rise in prices in the stock market. Likewise, declining volume leads to a decline in prices,"Michael Paulenoff of Pattern Analytics said.

"Right now volumes are 50% lower in the S&P than they were in the weeks leading up to the November election when the markets saw a streak of declines," he added.  "The VIX is all messed up, we are somewhere around 11 and 12 when we should be at 8." 

Using Fibonacci levels, a technical analysis tool used by traders 'to identify strategic places for transactions to be placed, target prices or stop losses,' Raymond James identified the resistance point for traders to exit the market the S&P 500 at around 2,335, right above the current level of 2,349.  

For me, I don't buy into that technical mumbo-jumbo.  I think the market is going to pull back simply because it's ridiculously overvalued and is not taking into account all the potential negatives that lie ahead including Trade Wars, Currency Wars and Rate Hikes – among the things most likely to happen before Q1 ends in 45 more days. At which time we will have to face the reality of Q1 earnings – the ones that are supposed to be flying higher to justify these ridiculous valuations.  

By the way, you are welcome on oil – down another $500 per contract on /CL Futures and that's $2,000 worth of winning oil plays alone that we've given you this week so don't tell me you can't afford to subscribe you cheap bastard!  More to the point – can you afford not to in this trading environment?  

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Thrilling Thursday – March Rate Hike Looms But Market Ignores Risk

How many ways can they tell you?  

Every Fed speaker this week has indicated that rates will be going up sooner than later and CPI and PPI coming in at DOUBLE expectations yesterday indicated the Fed is already behind the curve on raising rates and Yellen, yesterday and Tuesday said to Congress "if we do not raise rates we run the risk of causing a Recession" – seems pretty clear to me.  Still the markets are only pricing in a 41% chance of a hike at the March 15th meeting – beware the ides of March indeed!  

The Fed needs 3 hikes in 2017 and if not March, we're left with May 3rd, June 14th, July 26th, Sept 20th, Nov 1st and Dec 13th.  They won't want to raise two meetings in a row so, if not March, then May is a must and every other after that but May is a long time to wait when inflation is double your expectations on Feb 15th.  So, unless CPI and PPI have substantially calmed down over the next 30 days – expect a rate hike at the March meeting.

Another thing that's gotten ridiculously inflated is the S&P's Price to Book Value Ratio, now back over 3 for the first time since the catastrophic top of 2007.  Ah, good times…

The Book Value of equity is an accounting measure that is based on the historic cost principle, and reflects past issuances of equity, augmented by any profits or losses, and reduced by dividends and share buybacks.  Essentially, it's the price a buyer would be expected to pay for the company, as is, in a takeover or liquidation.  The Price of an equity is nothing more than speculation on the future value of the company so a PBV of 3 indicates you are paying 3 times more than the stocks are actually worth.  

Now, the average company is not going bankrupt, so it's normal to pay something for the operation of the company and your expected future income but 2-2.4 is a more normal PBV, not 3 – 3 is simply about 30% too expensive.  

Of course, President Trump promises to lower those nasty taxes but, as
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Winning Wednesday – Our Seminar Trade Makes a Quick $5,000!

We're back from Las Vegas!  

As you can see, the trip was easily paid for with an instant $5,000 winner on our Natural Gas (/NG) Futures trade and you didn't even have to be in Vegas to play as I put a note out to all our Members in the live Member Chat Room saying:

/NG round tripped, chance to load up again at $2.90.

This morning we took the money and ran at $2.97 along with $500 per contract on oil at $52.80 but we're still long on coffee (/KCN7, now $147.50) and short on the Russell (/TF, now 1,395) – there's always something fun to play in the Futures!  In fact, there seems to be a lot of demand for an all-day Futures Trading Workshop so let us know if you are interested and we'll see if we can find a date to hold one of those and, of course, we often find good Futures to trade in our weekly Live Trading Webinars – and we have one today at 1pm, EST.  

As I noted in yesterday's post, we found some stocks to trade during our weekend seminar and so did Warren Buffett, who followed us into Monsanto (MON) as well as Apple (AAPL), with Berkshire adding 42M shares at about $5Bn – a LOT more than we paid but still a lot less than it is now.

Of course, if you still want to buy AAPL for $120 or less, you can – just use our very simple system for buying stocks at a discount, which will be featured at the NY Money Show on Feb 27th, when I teach a 1:30 class on the subject that will apparently be live-cast (so I guess I'd better work on some slides!).  

Anyway, without all that tedious actually LEARNING how to give yourself a discount on almost any stock you want, the way I would trade AAPL at the moment is — WAITING FOR IT TO PULL BACK!!!  What, you think I'm some kind of TV huckster who tells…
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$20 Trillion Tuesday – S&P 500′s Mind-Blowing Valuation

Image result for corporate tax revenues 2015$20,000,000,000,000!

That's a lot of money.  They claim the forward p/e of the 500 companies that make up the S&P 500 is only 20 –  based on growth expectations, tax breaks, etc.  That would be $1 TRILLION in earnings for just 500 companies and the S&P 500 is about 1/3 of the total US Markets so $60Tn and $3Tn in earnings for our mighty US stocks is very nice.  

Why then, do these companies pay just $341Bn in taxes?  That's only 11%.  Why is it the top priority of the Trump Administration to LOWER Corporate Tax Rates so they can pay less and you can pay more.  Why are we providing stimulus to Corporations, why are we taking away their regulations when they are underpaying their taxes by 66%?

So congratulations to the S&P 500 at 2,300, crossing the $20Tn threshold – I guess the average American would be doing very well too – if they only paid an 11% tax break, got massive stimulus packages, 0% interest loans and were bailed out by the Government whenever they screwed up.  Big Government is a bad, bad thing – unless it's your Sugar Daddy.  Sorry kids, Uncle Sam already has 500 dependent children he's taking good care of, he can't be bothered with 320M of you!  

Well, you can't fight the tide (believe me, we've tried) so you may as well join the party and BUYBUYBUY the companies that benefit from our Nation's Generosity and, best of all, if we hold them for a year – we only get taxed 20% on those gains (soon to be 15% again – thanks Uncle Donald).  

Image result for trump infrastructure planWhat?  You are not rich enough to invest in equities?  Well, go away then – didn't you hear, we won the election – the country decided and now it's PARTY TIME for the Top 1%!  Soon the Trump administration will begin selling roads and bridges and water systems to private companies who will "tax" the living crap out of you with tolls and fees so they can "recover their investment" in the roads
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Monday Markets – Damn Catastrophe Foreshadows America’s Biggest Problem

Image result for oroville dam200,000 people are being evacuated. 

The Oroville Dam, in northern Californa is in "imminent" danger of fialing, forcing the evacuation of several towns along the Feather River.  If the dam actually breaks, prepare for a very real break of confidence in the markets because the elephant that sits in the room of the US economy is more and more our crumbling infrastructure and a serious incident like this will bring it right to the foreground and the situation is dire indeed.

For one thing, our disaster response capabilities are woefully inadequate.  As we saw in New Orleans years go, we simply don't have enough National Guardsmen to deal with real disasters and the State of Califonia has put their ENTIRE force on alert for this potential catastrophe – all 26,000 of them.  

That's right, just 26,000 National Guardsmen in a state with 39 Million people facing a castastrophe that is putting 70,000 homes in immediate danger of Katrina-like damage.  Things can get ugly very fast if the shit hits the dam….

But the real disaster will hit the markets because it's very abstract that the US has a grade of D+ according to the 2013 infrastructure Report Card and, at the time, we needed $3,600,000,000,000 ($3.6Tn) to make necessary repairs.  President Obama repeatedly was blocked by the Republican Congress from making improvements of any kind, with last year's $478Bn request dying 52 to 45 along party lines.  The Oroville Dam was one of the emergeny projects that would have been fixed – thanks GOP!  

“It is disgraceful,” Senator Sanders said. “No one denies our roads, bridges, waste water plants, water systems and rail are in a state of collapse. We used to lead the world in infrastructure, but now we’re in 12thplace.”

He added, “This amendment proposed $478 billion over a six-year period, which would not only rebuild our crumbling infrastructure but would put some nine million people back to work for the creation of new jobs."

While we have all had our heads collectively in the sand
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Free Money Friday – Trump and the Fed Talk up the Markets

Image result for a chicken in every potMORE FREE MONEY!!! 

That's right, nothing gets the market going better than promising a chicken for  every pot and yesterday we had the President promising a "phenomenal" tax cut package in 2-3 weeks, as well as reiterating his pledge to "roll back burdensome regulations."  Meanwhile, the St. Louis Fed President Jim Bullard said rates can remain low through all of 2017, saying the Fed may only raise rates once this year  - two less than expected!  

This is nothing more than the classic 1920s Republican Playbook with Trade Tariffs, Deregulation of Industry, Lack of Financial Controls, etc. aimed at creating a false sense of prosperity while money is "hoovered" up by the rich until the economy collapses only this time they have to dismantle that pesky social safety net that was put in place after the last time they destroyed the lives of tens of Millions of families.  Go GOP, go!  

Meanwhile, as we expected, oil is being talked up into the weekend and we are very close to that $54 line again, boosted by the IEA report which says OPEC's cuts are 90% effective with production down 1Mb/d in January at 32.06Mb/d.  PLEASE forget the fact that production was 31.5Mb/d before OPEC ramped up production ahead of the "cuts".  Yes, I know, you already forgot, didn't you?  

Remember, their original plan was to ramp up production and drive US shale producers out of business.  That plan failed so their new plan is to stop producing all that oil nobody wanted anyway and call it a "production cut" and spin it as a reason to drive oil prices higher, which is working great so far as last February oil was $30/barrel and now $54 is up 80%, even though the US just had a 13.8Mb build and we are swimming in oil.  

It's all done in the name of screwing over the consumers.  Gasoline has jumped 10% from $1.46 on Tuesday to $1.60+ this morning (and a great short into the weekend at that price on /RB), which will cost US drivers about 0.20/gallon at the pump so about $3 per tank/per driver is a nice $150M bonus for "THEM" over the weekend (see this week's posts for more on…
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Zero Hedge

Recession Concerns Grow After Gasoline Demand Slides Most In 16 Years

Courtesy of ZeroHedge. View original post here.

Two weeks ago, we reported that when Goldman observed the latest gasoline demand data, it said that either something must be wrong with the data, or the US is in a recession: as the firm's commodity analyst Damien Courvalin put it, such a steep drop in in US gasoline demand "would require a US recession." He added that "implied demand data points to US gasoline demand in January declining 460 kb/d or 5.2% year-on-year. In the absence of a base effect, such a decline has only occurred in four periods since 1960 during which time PCE contracted."

Bloomberg's ...



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ValueWalk

Standing Rock Protesters Face Mandatory Evacuation Deadline

By insidesources. Originally published at ValueWalk.

A camp that began for the water ended in flames on Wednesday afternoon as law enforcement moved to close the Dakota Access Pipeline protest camps. Prior to the mandatory evacuation deadline, protesters set fire to many of their remaining structures, arguing that this ceremonial destruction was the only way to prevent the area from being desecrated by law enforcement. A mandatory evacuation deadline had been set for 2 pm, but nearly two hours later, law enforcement remained on the perimeter, encouraging protesters to leave on their own.

The mandatory evacuation deadline was the final stage in process that had begun on Tuesday, when law enforcement set up a roadblock near the camp’s southern gate. At that time, they shut down traffic into the ca...



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Phil's Favorites

Cincarious Research's outdated note on FireEye, posted at Zero Hedge

Note: Cincarious Research contributed the article LifeLock Willing To Give FireEye $16 Per Share In Takeover Offer - Sources to Zero Hedge. It appears to be fake - or at least old - news.

Read this: Who or what is “Cincarious Research?”

Cincarious Research writes,

LifeLock is looking to revamp itself with a purchase of FireEye according to a few of our sources in the security space that are privy to the on-going conversation. We were told the company is seeking to expand offerings and the added cyber-security depth from FireEye on the government level is what LifeLock wants, badly. The deal is set for $16 per share for a total va...



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Kimble Charting Solutions

Gold & Silver; Knocking on breakout door again!

Courtesy of Chris Kimble.

Silver and Gold have continued to head lower since highs reached back in 2011. Is the 6-year bear market nearing an end?

Below looks at the Silver/Gold ratio over the past decade. To be long and strong Silver and Gold, the preference would be for this ratio to be heading higher.

CLICK ON CHART TO ENLARGE

The ratio has formed a clean falling channel (series of lower highs and lower lows) inside of (1). Three different times it knocked on the underside of falling...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Oil Sands Batter Major Explorers' Reserves as Rout Sinks Value (Bloomberg)

Oil-sands investments in Western Canada that gobbled tens of billions of dollars over the past decade are proving an Achilles heel for some of the world’s biggest energy producers.

A definitive breakdown of the gloomy state of Wall Street (Business Insider)

Don't be fooled by the strong rebound in Wall Street trading revenues at the end of 2016: Investment banks still had a lousy year.

...



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Chart School

Market Pause

Courtesy of Declan.

Nothing really to add to yesterday. Markets took minor hits, but there was little intraday spread. The biggest spread was in the Russell 2000 which was underperforming heading into today's session. It reversed most of yesterday's gains, but it has some way to go before it begins challenging the breakout


The New Lows and Highs is in a secular bullish pattern, and it will take continued pressure in spike lows to generate a sustained sell off - none of which is happening here.

...

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Digital Currencies

It's Time To Beat Up On Credit Suisse and Their Woefully Misinformed Bitcoin Advice

Courtesy of Reggie Middleton at Zero Hedge

Credit Suisse has been posting cryptocurrency advisories over the last few weeks. They are quite one-sided, although couched in the appearance of objectivity. To explain why it's couched in the appearance of objectivity, and not actually objective, let me give you some background. 

The Obama administration enacted a law known as the Fiduciary Rule, as per Investopedia

The Department of Labor’s definition of a fiduciary demands that advisors act in the best interests of their clients, and to put their clients' interests above their own. It leaves no room for advisors to conce...



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Members' Corner

Lumber Liquidators Leukemia?

Courtesy of The Nattering Naybob

Phil – LL –   "I can see the ad campaign now: "Our lumber hardly kills you!" 

We Nattered... Today Feb 23, 2016 down -19.5% premarket from $14.21 to $11.27.   

Somebody forgot to convert feet to meters. The CDC said it made an ERROR in the Feb 10th report and had used an incorrect value to calculate ceiling height, which meant its estimates of the airborne concentration of cancer-causing formaldehyde were about three times lower than they should have been. 

Considering myeloid leukemia, some cancers and formaldehyde are linked at the hip, wonder if overexposure had anything to do with the CEO's leukemia?  

LL subsequently went to $19.67 on Sept 30th and has since cooled down to $15....



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OpTrader

Swing trading portfolio - week of February 20th, 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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Mapping The Market

NSA May Be Withholding Intel from President Trump

By Jean Luc

These GOP guys were so worried about Hillary's email server and now we find out that we had something close to a Russian mole in the White House. In the meantime, Trump keeps on using his unsecured phone, had high level conversation in his resort in front of dinner guests! It's getting so bad that rumors are now circulating that the NSA is not sharing information with the WH:

NSA May Be Withholding Intel from President Trump

By 

….Our spies have had enough of these shady Russian connections—and they are starting to push back….In light of this, and out of worries about the White House’s ability to keep secrets, some of our spy agencies have begun withholding intelligence fro...



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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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About Ilene:

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

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