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Central Banker Admits Central Bank Policy Leads To Wealth Inequality

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Six years after QE started, and just about the time when we for the first time said that the primary consequence of QE would be unprecedented wealth and class inequality (in addition to fiat collapse, even if that particular bridge has not yet been crossed), even the central banks themselves – the very institutions that unleashed QE – are now admitting that the record wealth disparity in the world – surpassing that of the Great Depression and even pre-French revolution France - is caused by “monetary policy”, i.e., QE.

Case in point, during the Keynote speech by Yves Mersch, ECB executive board member, in Zurich on 17 October 2014 titled “Monetary policy and economic inequality” he said:

More generally, inequality is of interest to central banking discussions because monetary policy itself has distributional consequences which in turn influence the monetary transmission mechanism. For example, the impact of changes in interest rates on the consumer spending of an individual household depend crucially on that household’s overall financial position – whether it is a net debtor or a net creditor; and whether the interest rates on its assets and liabilities are fixed or variable.

 

Such differences have macroeconomic implications, as the economy’s overall response to policy changes will depend on the distribution of assets, debt and income across households – especially in times of crisis, when economic shocks are large and unevenly distributed. For example, by boosting – first – aggregate demand and – second – employment, monetary easing could reduce economic disparities; at the same time, if low interest rates boost the prices of financial assets while punishing savings deposits, they could lead to widening inequality.

Alas, in the past 6 years, low interest rates have not only boosted financial asset prices but have resulted in the biggest artificial asset bubble ever conceived. As for reducing unemployment, don’t ask Europe – and its unprecedented record unemployment, especially among the youth – how that is going. As for the US where unemployment is “dropping”, ask the 93.5 million Americans who have dropped out of the labor force, those whose real wages haven’t risen in the past 20 years, or the soaring part-time workers just how effective monetary policy has been in the US.

Back the…
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How The Federal Reserve Is Purposely Attacking Savers

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Chris Martenson via Peak Prosperity,

There's something we 'regular' citizens wrestle with that the elites never seem to: a sense of moral duty.

For example, following the collapse of the housing bubble, many people struggled with mortgages they could no longer afford to pay, fearing the shame of default. Many believed defaulting was wrong somehow; that it was their moral obligation to pay their mortgages, no matter how dire their personal situation. And of course, the mortgages lenders did their utmost to reinforce this perception.

In a perfect world, we would honor our debts and obligations, every one of us. But the world is an imperfect place ,and moral obligation is something that almost never enters into the decision matrix of our society's richest. Or the banking industry.

For them, the number one (and two, and three…) rule is that whatever is expedient and makes the most money is the right thing to do.

For the bottom 99%, it’s like playing with a stricter set of rules than your opponent: you’re not allowed to hit below the belt, and they’ve brought a baseball bat into the ring.

Note how this guy had to fight through his middle class conditioning before coming to a sense of peace over his decision to enter into a short sale on his house:

How a short sale taught me rich people’s ethics

Sep 29, 2014

 

The closest I ever came to acting like a rich person was two years ago when I short-sold my primary residence. I might have been able to keep it but strategic default made life easier. I owed about $400,000 on a house that short-sold for $150K. The bank lost more than a quarter of a million dollars, and I lost at least $80K in down payment and property improvements.

 

I was taught growing up to “keep my word” and that your handshake “meant something.” Yet businessmen and individual wealthy people make decisions that are far less moral than a short sale. People “incorporate” so they can avoid legal responsibility for individual actions.

 

It works great. You can stiff creditors, declare bankruptcy, pollute daily and raid pensions to enrich individual executives. If it all goes wrong, like it has so often for Donald


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Mapping China’s Bursting Real Estate Bubble

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

With global growth concerns on the rise, whether a bust in the Chinese housing sector could threaten the economic activity and financial stability of the world’s largest contributor to growth is top of mind for Goldman Sachs. As Michael Pettis warns, "this story only has a few possible endings, all of which imply a significant reduction in economic growth as debt problems are addressed." The following 3 charts suggest Pettis is right…

Just the Facts…

 

Where The Pain is…

 

And The Policy Decisions…

 

Just remember, as Hui Sahn and Andy Tilton note, "Since easier credit pulls forward [housing] demand from the future, easing must be done judiciously to avoid precipitating an even larger correction later."

*  *  *

So be careful what you wish for.





Ottawa Shooter Idenfitied As Canadian National Michael Zehaf Bibeau, Whose Passport Was Recently Seized

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Moments ago CBS News reported, citing Law enforcement and U.S. Government sources, that the shooter in today’s tragic Ottawa incident was Michael Abdul Zehaf Bibeau, born in Canada in 1982. One source says he sometime dropped the name Michael and went by Abdul Zehaf Bibeau. At other times he apparently dropped the Abdul. In a report from the Muslim Issue, Zehaf-Bibeau is said to be reportedly of Algerian descent.

Zehaf-Bibeau is the alleged shooter who killed soldier at the national War Memorial before entering the Centre Block and firing off more shots. Epoch Times reporter Matthew Little says that the shooter got as far as the library before Sergeant-At-Arms shot him dead.

Earlier, a Canadian parliament official described the gunman to BBC as looking “Arabian” with “long hair and a small beard.”

According to Montreal reporter Domenic Fazioli, Bibeau was arrested five times in the city. He has three possession charges dating back to 2004 (marijuana and PCP). His two other arrests were for parole violations.

Witnesses said they saw Bibeau wearing a black coat with blue jeans, reports CBC. The same report says gun used in the attack was a double-barrel shotgun. Alberta Labor Minister Ric McIver told the Ottawa Sun that Bibeau was driving a “brown Toyota Corolla with no license plate.” He added that the car “roared up the street and screeched to a halt.”

The Globe and Mail adds that he was recently designated a “high-risk traveller” by the Canadian government and that his passport had been seized – the same circumstances surrounding the case of Martin Rouleau-Couture, the Quebecker who was shot Monday after running down two Canadian Forces soldiers with his car.

Bibeau was shot dead by the Canadian Parliament’s Sergeant-at-Arms, Kevin Vickers. He was killed inside the Canadian parliament’s Center Block building.

As CBS adds, no motives for the shootings have been revealed yet, but the incidents happened one day after two other soldiers — one of whom later died — were run over by a car driven by a recent Muslim convert and jihadist sympathizer whom police also shot and killed. The series of incidents in Ottawa began shortly before 10 a.m., when the soldier was shot.

More:

Witnesses said the


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Is This Why Stocks Closed Not “Off The Lows”?

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

1. October 16: Buyers beware, the bear market has begun“:

The selloff in global markets is set to continue as a bear market takes hold “for a long period of time,” according to widely followed investor Dennis Gartman, who warned investors not to go long on stocks.

 

This is the start of a bear market,” Gartman, the founder of the closely watched Gartman Letter, told CNBC Europe’s “Squawk Box” on Thursday. “You stay in cash and you stay in short term bonds and you don’t move out, this is a very difficult period of time and I’m afraid – and

 

I don’t like to think about it – but this might be the very beginnings of a bear market that could last some period of time,” he warned.

2. October 21: “Failure here suggest that a fully-fledged bear market has begun“(sic)

As noted in the chart of the S&P at the upper left of p.1 this morning we were swiftly approaching the bottom of “The Box” that marks the 50-62% retracement of the recent sharp decline from the interim highs forged earlier this month. Given the manner in which stock index futures are trading rather briskly lower this morning as we write, it does not appear that we shall see the S&P futures trade into “The Box,” and that makes us all the more suspicious of share prices generally, for a market than cannot even retrace 50-62% of its previous weakness is a market that is weaker, internally, than it might at first appear. Worse, failure here suggest that a fully-fledged bear market has begun, for this would be a clear failure well below the highs of the last interim rally, with the lows of the last interim break having already been taken out to the downside.

3. October 22: Bear market called off

… in retrospect, having gone effectively to the sidelines two weeks we should have embraced last week’s weakness enthusiastically; we should have considered ourselves fortunate to have decided stand down from our modestly bullish perspective and we should have “margined up” as everyone else was being forced to “margin down;” however, we are not that wise nor are we that lucky… nor shall we ever be. We play the “Great Game” as we have been taught and


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Stocks Drop On Oil Dump & ECB Reality-Check

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

While some pointed north to the aweful events in Ottowa, it appears the bigger driver of weakness in stocks today (aside from a sudden absence of broken VIX markets, a lack of Fed Speakers, and the truth about ECB bond-buying being exposed) was the plunge in crude oil. WTI tumbled from over $83 to a low $80 handle after inventories surged more than expected and that appeared the catalyst for equities to catch down to credit weakness. Treasury yields closed the day unchanged but sold off notably in the EU session (like yesterday). The USDollar strengthened for the 2nd day in a row (now up 0.55% on the week) on EUR weakness (CAD volatile around shootings), weighing on commodities. Silver was monkey-hammered early, copper and gold slid, then oil plunged (down 2% on the week) to its lowest close in 18 months. Yesterday's big winner Trannies tumbled the most today (-2%) as stocks gave up half the week's gains today.

 

Stocks broadly gave back half the week's gains today…

 

With Trannies tumbling the most on the day…

 

and the roundtrip from yesterday…

 

The S&P failed to hold its 2013 uptrend…

 

The turn in oil coincided with weakness in Stocks today…

 

As Oil and stocks decouple…

 

Oil ended with its lowest close in 18 months…

 

The drop in stocks caught then down to credit's early weakness…

 

The Dollar rallied once again – led by EUR weakness. CAD was very volatile around macro data and the shootings

 

and USD strength weighed on all commodities…

 

Close up on today's action in commodities…

 

2nd day in a row, Treasuries sold off during the EU session… but closed unchanged on the day.

 

Charts: Bloomberg

Bonus Chart: What a difference a broken market makes…





Saudi Cleric Blasts Twitter As “Source Of All Evil” As Riyal Slides To Lowest Since 2008

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

The last 2 days have seen enormous volatility in the Saudi Riyal exchange rate, purportedly oil-related FX hedging programs as the SAR dropped to its lowest sicne Dec 2008, but the most extreme ‘moves’ were left to The Kingdon’s top Muslim cleric. As The BBC reports, Sheikh Abdul Aziz al-Sheikh, the Grand Mufti of Saudi Arabia, exclaimed that Twitter is “the source of all evil and devastation”. As the 12th most influential Muslim in the world, it perhaps matters that he says users were using Twitter to “promote lies, backbite and gossip and to slander Islam,” but citizens of Saudi Arabia, who are some of the heaviest users of Twitter, did not appreciate his remarks, summe dup by one tweet, “People need an outlet to express themselves, to start to disclose what’s hidden and drop the masks, without fear or commands, or censorship from anyone.”

 

Handsome chap…

 

As The BBC reports,

according to Saudi Arabia’s top Muslim cleric, Twitter is “the source of all evil and devastation”.

 

Sheikh Abdul Aziz al-Sheikh, the Grand Mufti of Saudi Arabia, made the comments on his Fatwa television show earlier this week.

 

“If it were used correctly, it could be of real benefit, but unfortunately it’s exploited for trivial matters,” he said about the social networking site.

 

“People are rushing to it thinking, ‘It’s a source of credible information’ but it’s a source of lies and falsehood.”

 

As the highest religious authority in the country, Sheikh Abdul Aziz al-Sheikh holds a senior government position, advising on the law and social affairs.

 

He was also voted the 12th most influential Muslim in the world in a recent poll.

 

According to Gulf News, he said: “These are not the high morals that Muslims should have and I call upon all people to contemplate seriously what they write before they post their tweets.”

However, citizens of Saudi Arabia, who are some of the heaviest users of Twitter, did not appreciate his remarks.

One of the reasons Saudis say they like using Twitter is because it allows them to discuss what they really feel.

 

The hashtag #WhydidTwittersucceedinSaudiArabia began trending in January, with users sharing their reasons they


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What Happens When Cash Is No Longer Trash?

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

Those who actually create value as opposed to chasing yield with nearly-free money will actually have some traction once the swamp of excess liquidity drains.

When those closest to the money spigots of the Federal Reserve can borrow billions for next to nothing, cash--laboriously saved from years of paychecks--is reduced to trash. What chance does a saver have in a bidding war for a house or other asset against a financier who can borrow essentially unlimited cash?
 

Answer: none. The saver can leverage his cash at best 4-to-1: a 20% down payment leverages a mortgage of 80% borrowed money. The financier can borrow as much he wants for next to nothing.

The saver will lose every bidding war, thanks to the excess liquidity created by the Fed and other central banks. The reason given for this vast expansion of credit is that if credit is cheap enough, people and businesses will put that nearly-free money to work.
 
The problem with cheap credit is that it does not flow to productive investments--it flows to safe yields. Launching a new product or service is risky, especially in a stagnant economy, so the safe way to play unlimited credit (i.e. liquidity) is to chase assets that reliably generate returns.
 
Consider housing as an example. If a saver wants to buy a house to rent out as an investment, he is going to be paying 4.5% or so for the 80% of the money he is borrowing via a mortgage.
 
The rental income has to exceed his costs--the mortgage, property taxes, maintenance, etc.--by at least 3%. Otherwise he might as well buy a long-term Treasury bond and earn the 3% without the risk of vacancies, unexpected expenses like a new roof, etc.
 
Since his mortgage costs 4.5%, the yield has to be considerably higher than 5% to make buying the house a good investment. Let's say the rental has to generate a return of 10% to yield a net return (after paying the mortgage, property taxes, etc.) of 3%.
 
The financier paying less than 1% for his borrowed money has an entirely different calculus. Since the cost of his borrowed money is so cheap, he can bid the asset price up and still earn a return above 3%. Raising the price of the house quickly raises the


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Save Yourself The $250,000: This Is What Bernanke Said Behind Closed Doors

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

There was a time when one couldn’t get Bernanke to shut up: whether it was swearing to Congress how the Fed is not monetizing debt, explaining to Ron Paul that gold is nothing but “tradition”, or otherwise issuing one after another after another debt monetizing quantitative easing program in hopes that “this time” the trickle down from the record high stock market would finally unleash central-planning utopia, Bernanke’s verbal insight was in a state of constant deflation. However, ever since his departure from the marble halls of the Marriner Eccles building, suddenly Bernanke’s insight has hyperinflated to the tune of some $250,000 per hour of Bernanke’s time (time during which he says such profound insights as “No Rate Normalization During My Lifetime“).

But why pay this ridiculous amount to hear what is nothing but more of the same? Bragging rights or a chairsatan autograph? Ok, but for everyone else who is not insane there is an option. Here, courtesy of Drobny Global, is a brief, and certainly far less cheaper than $250,000, summary of what the former Fed Chairman said said at the first Drobny/BNP Paribas IMF Forum held on October 9 in Washington D.C.

So without further ado, and without having to fork over a ridiculous quarter of a million dollars, here is what the Chairsatan really said…

Dr Ben S Bernanke kicked off the first session. We started with historical parallels to today; the Chairman is widely regarded as a scholar of the 1930s, and an expert on the liquidity trap. Surprising to some, he suggested the run on commercial paper and repo markets in 2008 is more reminiscent of the 19th century financial panics with corporate bonds, and not so comparable to the run on the banks as in 1929-32. Moreover, he pointed out, the 1929 crash was the direct result of a policy designed to prick an asset bubble. That wasn’t the case this time. And, what happened in the 1930’s, when financial panic turned to depression because of tight money and fiscal austerity policies pursued by the authorities, was not repeated this time around.

 

Avoiding policy mistakes is one of the well known lessons from the 1930’s. But, the former Chairman noted, there are other lessons here


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If You Like Your Broken Markets… Treasury Futures Edition

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

“If you like your broken markets,” it would appear you can keep them… but this time in bond futures. June 2015 30Y Futures prices are surging today (up a stunningly fat-finger-esque 7.4% (or 10 points)). This, however, is being traded… there is volume being exchanged… and at 151-19/32, it implies 30Y Bond yields will be below 2.4% by the middle of next year (from 2.99% today).

30Y Futs (June 2015) are up over 10 points today…

 

which implies a collapse in 30Y yields to 2.4%…

 

Is it?

A) Fat Finger? (doesn’t look like it)

B) Short-Squeeze?

C) Hedge at Any Cost…

D) Exchange Error

*  *  *

None of the above.. in fact it’s a Cheapest-to-deliver basket shift…

Solution to Address Delivery Basket Gap in U.S. Treasury Bond Futures Announced
After an extensive market assessment, CME Group is ready to announce which approach will be taken to address a five-year term-to-maturity gap in the delivery basket of U.S. Treasury Bond futures. (The gap was a result of the U.S. Treasury’s suspension of 30-year Treasury bond issuance between early 2001 – early 2006).

The decision is as follows:
CME Group will exclude the 5-3/8% February 2031 U.S. Treasury bond (cusip 912810FP8) from contract grade eligibility for the June 2015, September 2015, and December 2015 delivery months only.

These contracts are listed by and subject to the rules of CBOT. CBOT rule 18101.A authorizes the exchange to disallow any issue from the contract grade.

Rationale
Excluding this specific bond from delivery eligibility in the three deferred delivery months will prevent a situation of having a single bond isolated as the five-year gap nears the front of the delivery basket.

At the same time, this will ensure that the changes have only a negligible impact on the overall size of the delivery basket.

This solution was reached after extensive consultation with Bond futures market participants.

Which contracts will be affected first?
The first delivery month affected – the June 2015 delivery month — will be listed for trading on September 22, 2014, giving the marketplace ample time to make the necessary adjustments to trading systems.

The conversion factors published by the exchange have been revised to reflect this change.

*  *  *

As Nanex shows:


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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!

 
 

Zero Hedge

Central Banker Admits Central Bank Policy Leads To Wealth Inequality

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Six years after QE started, and just about the time when we for the first time said that the primary consequence of QE would be unprecedented wealth and class inequality (in addition to fiat collapse, even if that particular bridge has not yet been crossed), even the central banks themselves - the very institutions that unleashed QE - are now admitting that the record wealth disparity in the world - surpassing that of the Great Depression and even pre-French revolution France - is caused by "monetary policy", i.e., QE.

Case in point, during the Keynote speech by Yves Mersch, ECB executive board member, in Zurich on 17 October 2014 titled "...



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Chart School

Time for the Pullback?

Courtesy of Declan.

Sellers were going to make an appearance at some point and today was the day they paid a visit. Whether a larger pullback emerges will depend on events over the coming days, but today's selling did emerge at some natural attack points for shorts.

The S&P finished with a 'bearish cloud cover,' but it did manage to hold declining resistance turned support, and the 20-day MA has entered the fray as an area for bears to work. But this wasn't the most bearish of the indices, and today's finish actually gives bulls a long play tomorrow (for a bounce off support).  Technicals also suggest a bounce.


While the S&P may give bulls something tomorrow, th...

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Option Review

LUV Options Active Ahead Of Earnings

There is lots of action in Southwest Airlines Co. November expiry call options today ahead of the air carrier’s third-quarter earnings report prior to the opening bell on Thursday. Among the large block trades initiated throughout the trading session, there appears to be at least one options market participant establishing a call spread in far out of the money options. It looks like the trader purchased a 4,000-lot Nov 37/39 call spread at a net premium of $0.40 apiece. The trade makes money if shares in Southwest rally 9.0% over the current price of $34.32 to exceed the effective breakeven point at $37.40, with maximum potential profits of $1.60 per contract available in the event that shares jump more than 13% to $39.00 by expiration. In September, the stock tou...



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Phil's Favorites

Larry Swedroe: Use Valuations for Expected Returns, Not Market Timing

Larry Swedroe: Use Valuations for Expected Returns, Not Market Timing

Courtesy of 

When forecasting investment returns, many individuals make the mistake of simply extrapolating recent returns into the future. Bull markets lead investors to expect higher future returns, and bear markets lead them to expected lower future returns. But the price you pay for an asset also has a great impact on future returns. Consider the following evidence:

The average historical P/E ratio for the market has been around 15. A study covering the period from 1926 through the second quarter of 1999 found that an investor buying stocks when the market traded at P/E ratios of between 14 and 16 e...



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All About Trends

Mid-Day Update

Reminder: David 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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Insider Scoop

UPDATE: Brean Capital Initiates Coverage On GrubHub

Courtesy of Benzinga.

Related GRUB UPDATE: JMP Securities Initiates Coverage On GrubHub Inc Benzinga's Top Initiations Making Money With Charles Payne: 09/25/14 (Fox Business)

Brean Capital initiated coverage on GrubHub Inc (NYSE: GRUB) with a Hold rating.

Analyst Tom Forte noted that "catalysts for the stock include an accelerat...



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Sabrient

Sector Detector: Sharp selloff in stocks sets up long-awaiting buying opportunity

Courtesy of Sabrient Systems and Gradient Analytics

Last week brought even more stock market weakness and volatility as the selloff became self-perpetuating, with nobody mid-day on Wednesday wanting to be the last guy left holding equities. Hedge funds and other weak holders exacerbated the situation. But the extreme volatility and panic selling finally led some bulls (along with many corporate insiders) to summon a little backbone and buy into weakness, and the market finished the week on a high note, with continued momentum likely into the first part of this week.

Despite concerns about global economic growth and a persistent lack of inflation, especially given all the global quantitative easing, fundamentals for U.S. stocks still look good, and I believe this overdue correction ultimately will shape up to be a great buying opportunity -- i.e., th...



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Digital Currencies

Goodbye War On Drugs, Hello Libertarian Utopia. Dominic Frisby's Bitcoin: The Future of Money?

Courtesy of John Rubino.

Now that bitcoin has subsided from speculative bubble to functioning currency (see the price chart below), it’s safe for non-speculators to explore the whole “cryptocurrency” thing. So…is bitcoin or one of its growing list of competitors a useful addition to the average person’s array of bank accounts and credit cards — or is it a replacement for most of those things? And how does one make this transition?

With his usual excellent timing, London-based financial writer/actor/stand-up comic Dominic Frisby has just released Bitcoin: The Future of Money? in which he explains all this in terms most readers will have no tr...



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OpTrader

Swing trading portfolio - week of October 20th, 2014

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 Shadows

Falling Energy Prices: Sober Look takes a Sober Look

Falling Energy Prices: Sober Look takes a Sober Look

What do falling energy prices mean for the US consumer? Sober Look writes a brief yet thorough overview of the consequences of the correction in the price of crude oil. There are good aspects, particularly for the consumer, bad aspects, and out-right ugly possibilities. For more on this subject, read James Hamilton's How will Saudi Arabia respond to lower oil prices?  In previous eras, Saudi Arabia would tighten the supply to help increase prices, but in this "game of chicken," the rules m...



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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's this week's Stock World Weekly. Just sign in with your PSW user name and password. (Or take a free trial.)

#457319216 / gettyimages.com

 

...

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Promotions

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Pharmboy

Biotechs & Bubbles

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

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...



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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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