Author Archive for Zero Hedge

And Now Fake Consumer Confidence Too: Gallup Says Confidence In The Economy “Tumbled”

Courtesy of ZeroHedge. View original post here.

It appears we can now add “consumer confidence” to fake news trash heap.

Roughly at the same time as the allegedly apolitical Conference Board reported the highest consumer confidence print in 17 years…

… not to mention the most optimistic outlook on stocks since 2 months before the dot com bubble burst, a very different number emerged from a similar poll by Gallup.

First, a reminder of what the Conf. Board said this morning:

Consumer confidence increased sharply in March to its highest level since December 2000 (Index, 128.6),” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of current business and labor market conditions improved considerably. Consumers also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects. Thus, consumers feel current economic conditions have improved over the recent period, and their renewed optimism suggests the possibility of some upside to the prospects for economic growth in the coming months.” 

The result was based on a random survey of 3,000 people in the latest month.

Meanwhile, in the week of March 20-26, Gallup surveyed a random group of (supposedly different) 3,547 adults, and found something completely different, namely that

Americans’ confidence in the U.S. economy tumbled along with the Dow Jones industrial average last week. Though still in positive territory, Gallup’s U.S. Economic Confidence Index (ECI) dropped six points to a score of +5 for the week ending March 26. This is the lowest weekly average since the presidential election in November.

chart 1

How is this divergence possible? Simple: Gallup actually admits the reflexive nature of the primary driver of “confidence”, the stock market… the same stock market which according to headlines on CNBC and elsewhere jumped today because consumer confident rose. “Americans’ falling confidence in the economy may be tied to events in Washington and on Wall Street. Last week, the Dow logged its worst week since September as congressional Republicans ultimately failed to vote on legislation that would repeal and replace the Affordable Care Act.”

That, however, is hardly the entire story, because confidence waned prior to the effort to replace the ACA dying in Congress on Friday.


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RBOB Tumbles After Lower Than Expected Gasoline Draw

Courtesy of ZeroHedge. View original post here.

After an early spike on Libya production fears and OPEC production cut extension hope, WTI and RBOB faded all day on dollar strength ahead of the API data. The trend of builds in Crude and draws in gasoline and distillates continued but the gasoline draw was notably less than expected and has sparked selling in RBOB.

API

  • Crude +1.91mm (+2mm exp)
  • Cushing -576k
  • Gasoline -1.104mm (-2mm exp)
  • Distillates -2.035mm

Cushing saw a draw for the first time in 5 weeks but crude builds continued their streak. The most notable print was lower than expected gasoline draw…

The kneejerk reaction was selling in RBOB after a smaller than expected draw…

According to James Williams, economist at London, Arkansas-based energy-research firm WTRG Economics:

“The normal spring maintenance season switch to summer blend of gasoline always puts upward pressure on crude,… Every spring, the market seems to wonder if we are going to have enough gasoline for summer”





Americans, Once Known For Their Optimism, Are Losing Hope

Courtesy of ZeroHedge. View original post here.

Authored by John Mauldin via MauldinEconomics.com,

Angst is “a feeling of anxiety, apprehension, or insecurity.” Many of us feel it acutely right now—and that’s new. Angst isn’t a temporary, individual thing anymore. Now we all feel it together—or at least most of us do—and it’s not at all temporary.

I’ve touched on this before, but it’s no wonder that so much of our angst is job-related. Some people don’t have jobs at all. While many others don’t like the jobs they have. The millions of unemployed, underemployed, or unhappily employed touch all of us in some way.

If our nation’s work rate today were back up to its start-of-the-century high, well over 10 million more Americans would now have paying jobs. And that employment shortfall makes a real difference to the growth of the economy.

There Are Only Two Ways to Grow the Economy

You either have to grow the number of people working. Or you have to increase their productivity. If you remove 10 million American workers from the labor force, not only are they not producing anything, the vast majority of them are clearly consuming the fruits of the labor of those who are employed.

The number of people dropping out of the labor force is increasing. If that trend is not turned around, the hope that we will get back to 3% GDP growth is just wishful thinking.

Couple that trend with reduced productivity, and we will be lucky to see even 2% growth for the rest of the decade. If we have a recession, we will end up with a lower GDP than we have today.

Think about that. And then plug it into federal budget projections.

Employers Lack Qualified Workforce

Meanwhile, employers feel a different kind of angst. Many either can’t find qualified workers or their workers require constant attention and extensive training to be productive. Neither side of the labor-management divide is happy with the arrangements.

Everybody is apprehensive about the future. The common complaint from businessmen is not that they need more capital and the ability to borrow money from banks. But that they need more good workers in order to attract more good customers.

The Result Is Trump

This widespread angst among employers, employees, and those who aren’t working is one big reason Donald Trump is now


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Biggest VIX Crash Since Election Saves Dow From Worst Losing Streak In 39 Years

Courtesy of ZeroHedge. View original post here.

Consumer Confidence soaring, expectations for stock gains at record highs, 6 sigma beat in Richmond Fed survey…

The faith is strong with this one…

The Dow rallied over 150 points, breaking the losing streak and avoiding the worst run since 1978!! Yesterday’s bounce off the 50DMA seems so perfectly orchestrated…

4 VIX Slams later, The Dow was back into the green for the week… $1 billion MOC did dull the close a little but hardly…

And USDJPY was lifted 1 big figure…

From record complacency to panic and back in just a few days… The last two days have seen the fastest reversal in VIX since the election…

Dow, S&P, Nasdaq, and Small Caps all rallied tick for tick with each other – which makes perfect sense, right?!!

From Friday’s close, banks are back in the lead, bonds and bullion lagging…

But bear in mind, March has been ugly still for the big banks – worst since Jan 2016…

Off the opening lows from Monday, Trannies are best and “Most Shorted” stocks have been squeezed dramatically again…

With month-end malarkey underway, the S&P was ramped unrelentingly into the green for March…

AAPL traders could not get enough, greatly rotating out of SNAP… (AAPL gained over $15 bn in market cap today, that 1.5x TWTR!)

Fed VC Fischer was dovish with his view of uncertainty and just two more hikes and… The USD rallied!?

Yen weakness was the big driver of USD’s gains back to unch on the week…EURUSD fell to 1.0799 before bouncing back

Swissy plunged after SNB’s Marchler called the currency “strongly overvalued”…

Bitcoin slid lower as the USD ralied…

Treasury yields snapped higher today with 30Y back above 3.00% ands 10Y back above 2.40%

Year-to-Date, 7Y yield are unch; 10s and 30s are still lower and 2Y the owrst +11bps…

WTI and RBOB ended the day higher – despite a stronger dollar – but faded for most of the day after the opening gap…

Gold broke back below $1250 – back to pre-healthcare-bill levels – but Silver remains higher…

Finally, this summed up this week’s market rather well…

can’t stop, won’t stop… pic.twitter.com/O8DmI8KkuU

— FxMacro (@fxmacro) March 28, 2017





Buchanan On The Ryancare Route: Winning By Losing?

Courtesy of ZeroHedge. View original post here.

Authored by Patrick Buchanan via Buchanan.org,

Did the Freedom Caucus just pull the Republican Party back off the ledge, before it jumped to its death? A case can be made for that.

Before the American Health Care Act, aka “Ryancare,” was pulled off the House floor Friday, it enjoyed the support — of 17 percent of Americans. Had it passed, it faced an Antietam in the GOP Senate, and probable defeat.

Had it survived there, to be signed by President Trump, it would have meant 14 million Americans losing their health insurance in 2018.

First among the losers would have been white working-class folks who delivered the Rust Belt states to President Trump.

“Victory has a thousand fathers; defeat is an orphan,” said JFK.

So, who are the losers here?

First and foremost, Speaker Paul Ryan and House Republicans who, having voted 50 times over seven years to repeal Obamacare, we learned, had no consensus plan ready to replace it.

Moreover, they put a bill on the floor many had not read, and for which they did not have the votes.

More than a defeat, this was a humiliation. For the foreseeable future, a Republican Congress and president will coexist with a health care regime that both loathe but cannot together repeal and replace.

Moreover, this defeat suggests that, given the ideological divide in the GOP, and the unanimous opposition of congressional Democrats, the most impressive GOP majorities since the 1920s may be impotent to enact any major complicated or complex legislation.

Friday’s failure appears to be another milestone in the decline and fall of Congress, which the Constitution, in Article I, fairly anoints as our first branch of government.

Through the last century, Congress has steadily surrendered its powers, with feeble resistance, to presidents, the Supreme Court, the Federal Reserve, the regulatory agencies, even the bureaucracy.

The long retreat goes on.

Another truth was reconfirmed Friday. Once an entitlement program has been created with millions of beneficiaries, it becomes almost impossible to repeal. As Ronald Reagan said, “A government bureau is the nearest thing to eternal life we’ll ever see on this earth.”

Nor did President Trump escape unscathed.

Among the reasons he was elected was the popular belief, which carried him through scrapes that would have sunk other candidates, that, whatever his faults or failings,


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Top Turkish Banker Arrested At JFK Airport Over Massive Gold Money-Laundering Scheme

Courtesy of ZeroHedge. View original post here.

If Turkish president Erdogan needed one more reason to go ballistic in his daily comparisons of western leaders to Hilter and the Nazis, he got it this morning when a top executive at Halkbank, one of Turkey’s largest state-owned banks was arrested at JFK airport on charges of conspiring with an Iranian-Turkish financier who is awaiting trial for using his network of companies to circumvent Iranian sanctions.

As first reported by Bloomberg, Mehmet Hakan Atilla, deputy CEO at Turkiye Halk Bankasi, was taken into U.S. custody at John F. Kennedy International Airport in New York on Tuesday. He was detained on suspicion of conspiring to execute transactions on behalf of Iran. The arrest was made in connection with the pending prosecution of Reza Zarrab. The U.S. claims it has evidence that Zarrab paid millions of dollars in bribes to Turkish government officials and top executives at Halkbank, as it is commonly known, which allegedly helped Zarrab process the transactions.

Zarrab was a key figure in a 2013 scandal, in which Turkish prosecutors accused him of bribing the country’s cabinet ministers in a gold-trading operation worth at least $12 billion. We documented that particular fascinating incident in June 2014 in ‘Turkey’s “200 Tons Of Secret Gold” Trade With Iran: The Biggest, Most Bizarre Money Laundering Scheme Ever?

To be sure, Turkey’s President Recep Tayyip Erdogan who personally benefited from the money, or rather gold, laundering scheme called the investigation a coup attempt, and all charges against Zarrab and members of his administration were eventually dropped.

Zarrab, owner and operator of Royal Holdings A.S., is accused of using his multibillion-dollar network of companies in Turkey and the United Arab Emirates to induce U.S. banks to launder hundreds of millions of dollars in transactions that violated international sanctions against Iran. He was arrested in Miami in March 2016 after arriving in the U.S. for a family trip to Disney World and remains in detention.

And now we look forward to Erdogan’s furious response as one of his top bankers will be spending the foreseeable future in the questionable comfort of Rykers island.





House Committee Passes Bill To “Audit The Fed”

Courtesy of ZeroHedge. View original post here.

The Republican-controlled Committee on Oversight and Government Reform approved a bill earlier today to allow for a congressional audit of the Federal Reserve’s monetary policy, a proposal Fed policymakers have opposed and likely faces a difficult path to final approval in the Senate.  Under the bill, the Fed’s monetary policy deliberations could be subject

to outside review by the Government Accountability Office. 

While similar bills have garnered some support from Democrats in the past, they uniformly spoke against the current proposal during a meeting of the House of Representatives suggesting the current iteration would face stronger resistance from an increasingly polarized environment in Washington D.C..

The House previously passed similar versions of this legislation twice before in 2012 and 2014, with dozens of Democrats joining nearly unanimous Republican support.  That said, those bills both died in the Senate and likely would have faced a Presidential veto from Obama had they survived anyway.

That said, Trump expressed interest in passing such legislation multiple times during the 2016 campaign cycle which means the 3rd time might just be the charm for Republicans. 

It is so important to audit The Federal Reserve, and yet Ted Cruz missed the vote on the bill that would allow this to be done.

— Donald J. Trump (@realDonaldTrump) February 22, 2016

President-elect @realDonaldTrump has stated his support for #AuditTheFed. Let’s send him the bill this Congress. https://t.co/1twVBMv37u

— Senator Rand Paul (@RandPaul) January 4, 2017

And while proponents of the bill argue that the Fed wields too much power over the U.S. economy with minimal oversight, opponents assert that Fed decisions should be informed purely by economic indicators and completely insulated from “political pressure”…and we presume those same opponents would argue that Yellen’s decision to wait until just after the conclusion of the 2016 Presidential election to start hiking rates had absolutely nothing to do with politics.  Per Reuters:

Proponents of the measure argue that the Fed is too powerful and lacks sufficient oversight for its interest rate decisions. But Fed officials from Yellen on down, as well as other critics, have warned that such a policy could subject the Fed to undue political pressure and


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4 Factors Driving Oil Prices This Summer

Courtesy of ZeroHedge. View original post here.

Authored by Osama Rizvia via OilPrice.com,

Uncertainty is dominating today’s oil markets, with production cuts, ballooning inventories and a rising rig count all adding to oil price volatility. And as the summer driving season approaches and oil companies return to their projects here are four key factors to watch closely.

Inventory, Rig counts – An significant inventory build on the 7th of March sent oil prices tumbling, ending a period of relative stability for oil markets. The build-up of 8.2 million barrels at Cushing, Oklahoma sent prices below the psychological level of $50. The next week saw a draw of 237,000 barrels, providing the investors and market with some much needed breathing space. The most recent inventory report saw a 5-million-barrel build, adding yet more downward pressure to oil prices. The inventory level now rests at 533 million barrels, the highest in history. At the same time, we have seen a rapid increase in the number of active oil rigs in U.S. The total number now stands at 652 after an increase of 21 rigs last week according to Baker Hughes. This is the highest level since September 2015. Given the remarkable adaptability of shale producers to low prices, these trends are likely to continue, adding yet more downward pressure to oil prices.

(Click to enlarge)

The OPEC deal-Extension or no Extension: Questions surrounding the possibility of an extension to the current OPEC deal can be heard in all corners of the oil market. But attempting to make sense of the mixed signals coming from OPEC’s various members is not only a fool’s errand, but an insignificant one. The outcome of both scenarios: extension or no extension, are going to yield the same results. If OPEC does extend the production cut we will see the same vicious cycle: prices will rise, more rigs will be added in U.S., production will increase and prices will stall. On the contrary, if the OPEC and NOPEC members do not reach an agreement then we will see what we saw in 2014-16, each producer will ramp up production vying for the market share. This will cause prices to either go down or to once again be stuck in limbo. A third scenario may see OPEC members agreeing while NOPEC nations leave the table. Russia is already preparing for $40 oil.


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Trump Signs Executive Order Rolling Back Obama’s Climate Policies: Who Benefits The Most?

Courtesy of ZeroHedge. View original post here.

As discussed earlier, on Tuesday afternoon Donald Trump signed an executive order undoing most of Obama-era climate change regulations that his administration says is hobbling oil drillers and coal miners, a move environmental groups have vowed to take to court. The decree’s main target is former President Barack Obama’s Clean Power Plan that required states to slash carbon emissions from power plants – a critical element in helping the United States meet its commitments to a global climate change accord reached by nearly 200 countries in Paris in 2015.

The so-called “Energy Independence” order also reverses a ban on coal leasing on federal lands, undoes rules to curb methane emissions from oil and gas production, and reduces the weight of climate change and carbon emissions in policy and infrastructure permitting decisions.

Trump signed the order in a ceremony at the headquarters of the Environmental Protection Agency (EPA), the agency responsible for many of the major policies being targeted. He was flanked by coal miners — whom EPA Administrator Scott Pruitt joked “might never have been to the EPA before” — as well as cabinet officials and Vice President Mike Pence, who celebrated the executive order as a repudiation of the Obama administration’s climate agenda.

“My administration is putting an end to the war on coal,” Trump said, using a term coined by the industry and its supporters to describe government regulations. “I am taking an historic step to lift the restrictions on American energy, to reverse government intrusion and to cancel job-killing regulations.”

Trump is pitching the order primarily as a move to increase the nation’s energy independence, with the added effect of increasing jobs in affected sectors and related industries. The president said the order fulfills a promise made to coal miners during his presidential campaign. He recounted a trip to West Virginia when he met with miners who told him they wanted to continue working in the industry despite a downturn in employment.

“I said, if that’s what you want to do, that’s what you’re doing to do,” Trump said. “The miners told me about the attacks on their jobs and their livelihoods. … I made them this promise: we will put our miners back to work.”

The Bloomberg table below shows which states stand to benefit the most from today’s


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The Last Time Americans Felt This Good About Stocks, The Dot Com Bubble Burst 2 Months Later

Courtesy of ZeroHedge. View original post here.

Earlier today we noted that overall US Consumer Confidence, at least according to the Conference Board, smashed expectations and rose to the highest level since 2000.

The recent euphoria about the US economy is likely a continuation of the record partisan split, in which republicans love the current state of the economy, while democrats are convinced the US is facing an imminent collapse. Recall what UMich said just a few days earlier, when it took reported a near record confidence print:

The Current Economic Conditions component reached its highest level since 2000, largely due to improved personal finances. While current economic conditions were not affected by partisanship, this was not true for the component about future economic prospects: among Democrats, the Expectations Index at 55.3 signaled that a deep recession was imminent, while among Republicans the Index at 122.4 indicated a new era of robust economic growth was ahead.

But while overall economic confidence can be attributed to a variety of factors, things are far clearer when it comes to how Americans feel about the stock market, because as also disclosed by the Conference Board, Americans haven’t been this optimistic about US stocks since the start of 2000.

According to today’s report, more than 47% of respondents said they expect equities to move higher in the next 12 months, a surge of nearly 50% compared to recent prints, prompted by the “animal spirits” unleased by the Trump election.

As Bloomberg observes, this was the largest share since January 2000, when optimism about stocks also peaked. Two months later, in March of 2000, the dot com bubble burst and a full-blown bear market ensued less than a year later.





 
 
 

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Financial Markets and Economy

US consumer confidence explodes to the highest level since 2000 (Business Insider)

US consumer confidence spiked to a 16-year high in March, according to the Conference Board's monthly survey. 

The headline index jumped to 125.6, the highest since December 2000. Economists had forecast that the index dipped in March to 114.0 from a 15-year high of 114.8, according to Bloomberg. 

Traders betting against Wall Street's favorite Trump trade are making a killing...



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Nepal's Military Will Soon Be Invincible

By Guest Post. Originally published at ValueWalk.

By Col. Jitendra J. Karki (Retired, Nepal Army) and Dr. David Leffler

Nepal’s army schools are finishing their first stage implementation of Invincible Defense Technology (IDT). The ultimate goal of IDT is to prevent enemies from arising by reducing the collective societal stress that culminates in war, terrorism, and crime. IDT involves use of the Transcendental Meditation (TM) technique and its advanced practices, ideally by the military, to reduce this collective societal stress. Extensive peer-reviewed research has documented the efficacy of this approach. Militaries and police worldwide have successfully field-tested and are now using this approach (see Review Ne...



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Zero Hedge

Brodsky: "A Socialized Market With Guaranteed Positive Returns For All Must Fail"

Courtesy of ZeroHedge. View original post here.

Submitted by Paul Brodsky via Macro-Allocation.com

Self-Serve

In Passive Aggressive, we made the case that ETFs can be useful vehicles for thoughtful active investors. A few people agreed with our self-assessment in the piece that we were being self-serving because we are launching a modestly priced pro-volatility fund that actively manages ETFs. To s...



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Rallies Come Through

Courtesy of Declan.

Bulls were able to deliver across the board gains, helping to position yesterday's action as a swing low. Weakness at this point would offer itself as a buying opportunity, but markets wouldn't tolerate more than a couple of days of losses if they were to go down this route.

The S&P is at resistance of the prior swing low and the 20-day MA, but today's action is looking good for an upside break tomorrow? Technicals are firmly in the red and need more than today's gain to fix them.



The Nasdaq did today...

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Silver bear market could end here!

Courtesy of Chris Kimble.

Below looks at the performance of Silver, Gold and the S&P 500 year to date. Metals and miners are off to a good start in 2017. Even though the stock market has received a good deal of attention this year, metals have done even better. Is the performance in 2017 the start of something even bigger for Silver & Gold?

CLICK ON CHART TO ENLARGE

It’s been a long time since buy and holders have experienced a bull market in Silver. How long has it been? Silver has created a series of lower highs since 2011. The trend ...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

The Biggest Risk From the Dollar's Drop May Not Be What You Would Guess (Bloomberg)

Whipsawed by the greenback and confronted by U.S. policy confusion, carry trades were supposed to be a rare bright spot for investors who want to stay away from the world’s biggest reserve currency.

These Charts Show Alarm Bells Ringing on the Trump Trade (Bloomberg)

Investors on Monday further unwound trades initiated in November resting on the idea that the election of Donald Trump and a Republican Congress meant...



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OpTrader

Swing trading portfolio - week of March 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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Members' Corner

More Natterings

Courtesy of The Nattering Naybob

[Click on the titles for the full articles.]

A Quick $20 Trick?

Summary

Discussion, critique and analysis of the potential impacts on equity, bond, commodity, capital and asset markets regarding the following:

  • Last time out, Sinbad The Sailor, QuickLogic.
  • GlobalFoundries, Jha, Smartron and cricket.
  • Quick money, fungible, demographics, QUIK focus.

Last Time Out

Monetary policy is just one form of policy that effects capital,...



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Digital Currencies

Bitcoin Tumbles Below Gold As China Tightens Regulations

Courtesy of Zero Hedge

Having rebounded rapidly from the ETF-decision disappointment, Bitcoin suffered another major setback overnight as Chinese regulators are circulating new guidelines that, if enacted, would require exchanges to verify the identity of clients and adhere to banking regulations.

A New York startup called Chainalysis estimated that roughly $2 billion of bitcoin moved out of China in 2016.

As The Wall Street Journal reports, the move to regulate bitcoin exchanges brings assurance that Chinese authorities will tolerate some level of trading, after months of uncertainty. A draft of the guidelines also indicates th...



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Mapping The Market

Congress begins rolling back Obama's broadband privacy rules

Courtesy of Jean Luc

I am trying to remember who on this board said that people wanted to Trump because they want their freedom back. Well….

Congress begins rolling back Obama's broadband privacy rules

By Daniel Cooper, Endgadget

ISPs will soon be able to sell your most private data without your consent.

As expected, Republicans in Congress have begun the process of rolling back the FCC's broadband privacy rules which prevent excessive surveillance. Arizona Republican Jeff Flake introduced a resolution to scrub the rules, using Congress' powers to invalidate recently-approved federal regulations. Reuters reports that the move has broad support, with 34 other names throwing their weight behind the res...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

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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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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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