Guest View
User: Pass: | become a member
Archive for the ‘Chart School’ Category

Deflationary Spiral Nonsense; Keynesian Theory vs. Practice

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.


Price Deflation Hits Italy First Time in 55 Years

The Italian National Institute of Statistics (ISTAT) reports that consumer price inflation declined by 0.1% from August 2013 to August 2014.

Italian consumer prices fell 0.1 percent year-on-year in August of 2014, matching preliminary estimates. The country’s annual inflation rate touched the negative territory for the first time in nearly 55 years due to a drop in energy prices.

Year-on-year, prices of energy fell 3.6 percent in August, mainly driven by a 1.2 percent drop in cost of non-regulated energy products. Additional downward pressures came from food cost (-0.5 percent), mainly unprocessed food (-1.8 percent) and communication (-9.0 percent). Meanwhile, prices of services slowed (0.6 percent in August compared with a 0.7 percent increase in July).

Italy CPI 2000 – 2014

Eurozone Policymakers Concerned About Falling Prices

A Financial Times headline portrays falling prices as a negative thing: Deflation Takes Shine Off Sales for Italy’s Shopkeepers.

The appearance of deflation in Italy suggests a worrying spread from Spain, another peripheral eurozone economy, where it reared its head this year. Deflation is now stalking the home of Rome-born Mario Draghi, the European Central Bank president, who has sounded the alarm about the need to restore growth across the continent and has taken aggressive and unorthodox measures to do so.

Matteo Renzi, the youthful prime minister who gained power in February with an agenda of radical economic and political reform, acknowledged last week that growth would in fact be “around zero” this year.

The hope is that lower prices will start luring Italians back to the shops. But policy makers – particularly Mr Draghi and other ECB officials – do not seem to be betting on the resurgence of the Italian consumer.

They have been more focused on – and fearful of – the worst case: that the country, along with the eurozone more generally, could fall into a deflationary spiral, in which consumers hold off purchases in the expectation that prices will fall even further. Deflation would also raise the real value of Italy’s monumental €2.1tn public debt load, causing angst among investors.

“Even if you think the probability of damaging deflation is low, if it were


continue reading





The Perfect (Dollar) Storm – When Currencies Collide Part 2

Courtesy of Doug Short.

Click here to read Part 1.

Part 2 Summary

  • Major breakout in USD means:
    • U.S. stocks over foreign markets
    • Stocks over bonds
    • Higher price multiples for U.S. stock markets
  • Short-term, USD due for a breather and euro for a rally

Investment Implications of a USD Breakout

Should the USD break out from its 2005 to present bearish trend, we should see some significant developments in inter-market relationships. For starters, the relative performance of U.S. stocks to the MSCI World Stock Index Excluding the U.S. shows a strong correlation to the USD Index. Should the USD continue to rally we are likely to see U.S. stocks continue to outperform world stock markets.

Click to View
Source: Bloomberg

Should the USD strengthen ahead and the U.S. markets outperform world indices, we are likely to see a pickup in foreign investment demand for U.S. stocks. Currently the 1-yr moving average of foreign investor’s net purchase of U.S. stocks is still negative but has bottomed. Given the current low level of foreign investment to the U.S. stock market, we could see foreign buyers become a significant source of buying interest in the months ahead. As a side note, given foreign investors interest in U.S. stocks tends to correlate with major market peaks and bottoms, it is encouraging that their net foreign purchases are well off the levels that marked the 1998, 2000, 2007, 2010 and 2011 tops.

Click to View
Source: Bloomberg

Not only should we see the U.S. stock market outperform foreign markets, but we should also see U.S. stocks outperform other asset classes like bonds and commodities. We can see this in the relationship between the USD Index (green line, second panel below) and the ratio of the S&P 500 to the CRB Index (red line, 2nd panel). As the USD heads higher, stocks tend to outperform bonds.

Click to View
Source: Bloomberg

Part of what fuels U.S. stocks higher with a strong dollar comes from the relationship of the USD Trade Weighted Index and the S&P 500 price-to-earnings ratio (P/E). A higher USD is correlated with multiple expansion while…
continue reading





Gasoline Price Update: Down a Nickel

Courtesy of Doug Short.

It’s time again for my weekly gasoline update based on data from the Energy Information Administration (EIA). Rounded to the penny, Regular and Premium both fell five cents and are now at their lowest averages since mid-February. Regular is up 21 cents and Premium 20 cents from their interim lows during the second week of last November.

According to GasBuddy.com, only one state (Hawaii) has Regular above $4.00 per gallon, unchanged from last week, and one state (Alaska) is averaging above $3.90, also unchanged from last week. South Carolina has the cheapest Regular at $3.11.

How far are we from the interim high prices of 2011 and the all-time highs of 2008? Here’s a visual answer.

Click to View
Click for a larger image

The next chart is a weekly chart overlay of West Texas Intermediate Crude, Brent Crude and unleaded gasoline end-of-day spot prices (GASO). WTIC closed today at 92.92, down from 93.12 this time last week and the lowest since January.

The volatility in crude oil and gasoline prices has been clearly reflected in recent years in both the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE). For additional perspective on how energy prices are factored into the CPI, see What Inflation Means to You: Inside the Consumer Price Index.

Click to View
Click for a larger image

The chart below offers a comparison of the broader aggregate category of energy inflation since 2000, based on categories within Consumer Price Index (commentary here).

Click to View
Click for a larger image

Here are some additional commentaries related to gasoline prices:





The Illusion of Permanent Liquidity

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.


AFP (Agence France-Presse) recently printed an interesting piece about the current illusion of permanent liquidity. To wit:

“Loose monetary policies have created an ‘illusion of permanent liquidity’ that is spurring investors to make risky bets and push up asset prices, the Bank for International Settlements said Sunday.

This “illusion” has not only been driving investors to make risky bets across the entire spectrum of asset classes; it has also led to the illusion of economic stability and growth. For example, financial analysts have started pushing the idea that the current earnings and economic backdrop will last for another decade. Such an expansion would rival the longest previous period on record (119 Months) from March of 1991 through March of 2001 during the “technological revolution.” A repeat of such an expansion would be quite a feat if it were to occur. However, the drivers of declining inflation, interest rates and increasing leverage are no longer available to support such an expansion in an economy driven 70% by consumption.

Click to View

This idea of “infinite liquidity,” and the belief of sustained economic growth, despite slowing in China, Japan and the Eurozone, has emboldened analysts to push estimates of corporate profit growth of 6% annually through 2020. Such a steady rise in earnings per share would push levels to more than $183.00 per share. The problem, as shown in the chart below, is that such an earnings expansion has never occurred in history as it completely disregards the course of normal business and economic cycles.

Click to View

(Note: The dashed lines show that earnings have a strong history of ranging, due to the business cycle, between 6% peak to peak and 5% trough to trough.)

It is unlikely given the current scenario of sub-par economic growth, excess labor slack globally and deflationary pressures rising, that such lofty expectations will be obtained. Importantly, it will be the consequences of such a failure that will be the most important. As the BIS states:

“The longer the music plays and the louder it gets, the more deafening is the silence that


continue reading





S&P 500 Snapshot: A Minor Loss to Start the Week

Courtesy of Doug Short.

This morning’s Empire Manufacturing General Business Conditions Index surprised to the upside at a near 5-year high. In contrast, the August Industrial Production Index, came in below expectations, and the previous month was revised downward. The S&P 500 opened fractionally higher and sold off to its -0.36% intraday low 30 minutes later. It oscillated through the day, rising to its mid-afternoon high, up 0.8%, and then traded lower to its -0.07% close. The market will probably remain subdued in advance of Wednesday’s FOMC summary of economic projections and Chair Yellen’s press conference.

As for today’s Industrial Production report, I’ll have more to say about it tomorrow after we get the August Producer Price Index for some inflation context.

The VIX volatility index rose about six percent, closing at 14.12. Price volatility, however, was subdued. The 0.44% intraday range is at the 16th percentile of the 177 market days in 2014, the average range being 0.83%.

The yield on the 10-year Note closed at 2.60%, down 2 bps from Friday’s close. It is now 26 bps above its 2014 low.

Here is a 15-minute chart of the past five sessions.

Today’s subdued price action came on fairly average volume.

For a longer-term perspective, here is a pair of charts based on daily closes starting with the all-time high prior to the Great Recession.

Click to View
Click for a larger image

Click to View
Click for a larger image





Daily Market Commentary: Small Caps Take Another Hit

Courtesy of Declan.

Headlines may have suggested otherwise for markets, but Small Caps had a rough day. The Russell 2000 lost over 1% in a slice through both 50-day and 200-day MAs. It’s ugly because Small Caps have to re-establish a new price channel and each daily loss makes this new channel less and less bullish. Technicals are not net bearish, but they are not looking good either.


The Nasdaq undercut the trading range it was attempting to shape, breaking through its 20-day MA in the process. Volume rose to register a distribution day. Watch how the next bounce plays out; a failure to regain the trading range would mark aggressive action on the part of shorts.

Yesterday, I pointed to the long term bearish trend in Nasdaq breadth. Today, there is a developing bearish divergence in the same breadth metrics.  For example, note the marked difference in the Nasdaq Bullish Percents: the same situation can be found in the Percentage of Nasdaq Stocks above the 50-day MA and Summation Index.

But if you only looked at the S&P, you would have thought little happened today.

For tomorrow, watch how any bullish reaction in the Russell 2000 and Nasdaq reacts against today’s breakdowns.

Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.





House Prices to Decline in 2015?

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.


As we progress to the end of 2014, my skepticism towards the U.S. housing market increases. In fact, the fate of home prices in 2015 is in question.

I don’t expect an outright collapse of the housing market like the one we saw in 2007, but I see the momentum in housing prices that began in 2012 and picked up in 2013 dissipating for several reasons.

First, according to Fannie Mae’s August 2014 National Housing Survey, the number of Americans thinking “it’s a good time to buy a house now” has hit an all-time low!

The chief economist at Fannie Mae, Doug Duncan, explained it best when he said, “The deterioration in consumer attitudes about the current home buying environment reflects a shift away from record home purchase affordability without enough momentum in consumer personal financial sentiment to compensate for it. This year’s labor market strength has not translated into sufficient income gains to inspire confidence among consumers to purchase a home, even in the current favorable interest rate environment.” (Source: “Consumer Housing Sentiment Loses Momentum as Income Growth Remains Stagnant,” Fannie Mae, September 8, 2014.)

Secondly, while in 2012 and 2013 we saw a massive influx of financial investors enter the housing market—they bought entire city blocks and bid home prices higher—these investors are no longer as active in the housing market simply because all the “good deals” are gone.

Look at the red arrow I have drawn in the below chart of the S&P Case-Shiller Home Price Index.


Chart courtesy of www.StockCharts.com

In the chart, you see that since April (where the arrow appears), home prices in the U.S. housing market have actually declined. (As far as we know, Profit Confidential is the only place that has been predicting lower housing prices.)

While the mainstream media was adamant that the housing market was improving, the opposite has happened. New homebuyers are missing from the action and house prices are now in decline again.

If the housing market continues its downward trajectory, it will result in even less employment in the construction sector, thus impacting economic growth. The price chart of the Dow Jones U.S. Home Construction Index, which has been falling since May of 2013, is a leading indicator that has…
continue reading





Empire State Manufacturing Shows a Robust Expansion

Courtesy of Doug Short.

This morning we got the latest Empire State Manufacturing Survey. The diffusion index for General Business Conditions continues is expanding at a faster pace. The headline number has increased to 27.5, up from 14.7 last month and its highest level since October 2009. The Investing.com forecast was for a reading of 16.0. The Empire State Manufacturing Index rates the relative level of general business conditions New York state. A level above 0.0 indicates improving conditions, below indicates worsening conditions. The reading is compiled from a survey of about 200 manufacturers in New York state.

Here is the opening paragraph from the report.


The September 2014 Empire State Manufacturing Survey indicates that business activity expanded at a robust pace for New York manufacturers. The headline general business conditions index rose thirteen points to 27.5, a multiyear high. The new orders index moved up three points to 16.9, and the shipments index advanced two points to 27.1. The unfilled orders index fell three points to -10.9. The prices paid index declined three points to 23.9, indicating a slower pace of input price increases, while the prices received index climbed nine points to 17.4, suggesting a pickup in the pace of selling price increases. Employment indexes showed a slight increase in employment levels and hours worked. Indexes for the six-month outlook conveyed a high degree of optimism about future business conditions.

Here is a chart illustrating both the General Business Conditions and Future General Business Conditions (the outlook six months ahead):

Click to View
Click for a larger image

Click this link to access a PDF set of charts of the individual components over the past 12 months.

Since this survey only goes back to July of 2001, we only have one complete business cycle with which to evaluate its usefulness as an indicator for the broader economy. Following the Great Recession, the index has slipped into contraction multiple times, as the general trend slowed. It had remained in a relatively narrow range over the past year, but last three months have been higher.

Meanwhile, here’s another look at the latest ISM Manufacturing Business Activity Index.

Click to View
Click for a larger image

I’ll keep a close eye on some of the regional manufacturing indicators in the months ahead.





Daily Market Commentary: Distribution Returns

Courtesy of Declan.

It was a second day of heavier volume selling in four for the S&P, and the fifth day of distribution since the last accumulation day. The breakout of 1,987 was undercut by Friday’s close in addition to a finish below the 20-day MA. Bulls still have room for maneuver with the 50-day MA next in line for a test; even a modest rally Monday would be enough to return the S&P above its breakout.  The higher volume selling is a concern, but not a deal breaker for bulls…yet.


The Nasdaq had a better Friday. While it also suffered a loss, it didn’t  undercut its mini-trading range or close below its 20-day MA. It hasn’t suffered the same level of distribution as the S&P, and relative strength is very much in its favor. This is still an option for longs on Monday.

The Russell 2000 came back off channel support turned resistance, although it’s above both 50-day and 200-day MAs.  There is still an opportunity for bulls, although with the breakdown confirmed it may be best to see if the 200-day MA holds on a test.  Look for this test on Monday.

The semiconductor index continued to pull away from its test of 651. Friday finished with a close below its 20-day MA, but again, a small gain would reverse this break.

However, Nasdaq breadth is stuck in the middle of a broader decline. This suggests a significant trade low is on the way, but is not here yet.

In the meantime, bulls keep their edge in the near term.

Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.





Weighing the Week Ahead: Will the Fed Change Course?

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.


After a number of meetings where the FOMC announcement merely confirmed widespread expectations, this week’s result may be different. I expect everyone to be wondering, Will the Fed change course?

Prior Theme Recap

In my last WTWA I nervously suggested that there would be a surprising focus on individual stocks rather than macro factors. This proved to be a good call, and I even had the right reasons: Apple announcements, Alibaba, and a dearth of economic news. The competing story was the surprising dollar strength at the end of the week.

Feel free to join in my exercise in thinking about the upcoming theme. We would all like to know the direction of the market in advance. Good luck with that! Second best is planning what to look for and how to react. That is the purpose of considering possible themes for the week ahead.

Calling All (Young) Writers

The Financial Times and McKinsey and Company have joined to offer the Bracken Bower Prize for the best proposal for a book on the challenges and opportunities for growth. A prize of £15,000 will be given for the best book proposal. It is also a good way to attract a publisher for your idea. Entries close on September 30th. More information is available here.

This Week’s Theme

The scheduled highlight of this week (despite some competition from Scotland) is the FOMC policy announcement. This is one of the meetings where the Fed updates individual and consensus projections and provides additional transparency with a press conference from the Fed Chair.

The result of the modern transparency efforts is often additional confusion!

Here is what you need to know in advance:

  • The forward guidance language is likely to change. Even the doves on the Fed want to communicate more data dependence rather than a calendar-based forecast. Leading Fed expert Tim Duy explains why this change would be helpful:

    The trick is to change the language without suggesting the timing of the first rate hike is necessarily moving forward.  The benefit of the next meeting is that it includes updated projections and a press conference.  Stable policy expectations in those projections would create a nice opportunity to


continue reading





 

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!

 
 

Chart School

Deflationary Spiral Nonsense; Keynesian Theory vs. Practice

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

Price Deflation Hits Italy First Time in 55 Years

The Italian National Institute of Statistics (ISTAT) reports that consumer price inflation declined by 0.1% from August 2013 to August 2014.

Italian consumer prices fell 0.1 percent year-on-year in August of 2014, matching preliminary estimates. The country’s annual inflation rate touched the negative territory for the first time in nearly 55 years due to a drop in energy prices.

Year-on-year, prices of energy fell 3.6 percent in August, mainly driven by a 1.2 percent drop in cost of non-regulated energy products. Additional downward pressures came from food ...



more from Chart School

Zero Hedge

Is This China's Scariest Chart?

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

As China's shift to a consumer economy progresses based on the urbanization of its agrarian 'poor' population, an odd thing is happening at the other end of the demographic wealth spectrum. As WSJ reports, nearly half of wealthy Chinese are planning to move to another country within the next five years, according to a new Barclays survey. The top reasons 47% of these individuals - with net worths over $1.5 billion - cite for fleeing China include educational and employment opportunities, economic security, and climate. Ironically, none mentioned 'running away from potential prosecution for graft'....



more from Tyler

Phil's Favorites

Deflationary Spiral Nonsense; Keynesian Theory vs. Practice; Eurozone Policymakers Concerned About Falling Prices

Courtesy of Mish.

Price Deflation Hits Italy First Time in 55 Years

The Italian National Institute of Statistics (ISTAT) reports that consumer price inflation declined by 0.1% from August 2013 to August 2014.
Italian consumer prices fell 0.1 percent year-on-year in August of 2014, matching preliminary estimates. The country’s annual inflation rate touched the negative territory for the first time in nearly 55 years due to a drop in energy prices.

Year-on-year, prices of energy fell 3.6 percent in August, mainly driven by a 1.2 percent drop in cost of non-regulated energy products. Additional downward pressures came from food cost (-0.5 percent), mainly unprocessed food (-1.8 percent) and communication (-9.0 percent). Meanwhile, prices of services slowed (0.6 ...



more from Ilene

Promotions

See Live Demo Of This Google-Like Trade Algorithm

If GOOGLE, the NSA, and Bill Gates all got together in a room with the task of building the most accurate trading algorithm… it wouldn’t just be any ordinary system… it’d be the greatest trading algorithm in the world.

Well, I hate to break it to you… they never got around to building it, but my colleagues at Market Tamer did.

Follow this link to register for their training webinar where they’ll demonstrate the tested and proven Algorithm powered by the same technological principles that have made GOOGLE the #1 search engine on the planet!

And get this…had you done nothing but traded a handful of conservative alerts since its inception, you would have experienced portfolio gains exceeding 200%!

Plus, when you register for the webinar you’ll g...



more from Promotions

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...

more from David

Sabrient

Sector Detector: Bulls go down swinging, refusing to give up much ground

Courtesy of Sabrient Systems and Gradient Analytics

Although the stock market displayed weakness last week as I suggested it would, bulls aren’t going down easily. In fact, they’re going down swinging, absorbing most of the blows delivered by hesitant bears. Despite holding up admirably when weakness was both expected and warranted, and although I still see higher highs ahead, I am still not convinced that we have seen the ultimate lows for this pullback. A number of signs point to more weakness ahead.

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based SectorCast rankings of the ten U.S. business sectors, and then offer up some actionable trading ideas, including a sector rotation strategy using ETFs and an enhanced version using top-r...



more from Sabrient

OpTrader

Swing trading portfolio - week of September 15th, 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 ...



more from OpTrader

Insider Scoop

Compass Point Sees Good Things Ahead For Navient Corp

Courtesy of Benzinga.

In a report published Monday, Compass Point analyst Michael Tarkan reiterated a Buy rating and $21.00 price target on Navient Corp (NASDAQ: NAVI).

In the report, Compass Point noted, “We reiterate our Buy rating on NAVI shares after analyzing updated credit data within the company's private student loan trusts, which indicate continued YOY improvement in delinquency and default rates. The data captures statistics for trusts originated from 2002 through 2014 for the three months ended August 31, 2014, providing a good leading indicator for 3Q14 credit trends. The ongoing improvement should give management flexibility to continue to lower provision expenses to drive earnings higher.”

Navient Corp closed on Friday at $17.62.

Latest Ratings for NAVI DateFirm...

http://www.insidercow.com/ more from Insider

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 the latest Stock World Weekly. Enjoy!

[Sign in with your PSW user name and password, or take a free trial here.]

Image courtesy of Business Insider, Jay Yarow's This Is The Best Description Of How Apple's Business Works Right Now.

 

...

more from SWW

Option Review

Big Prints In VIX Calls

The CBOE Vix Index is in positive territory on Friday morning as shares in the S&P 500 Index move slightly lower. Currently the VIX is up roughly 2.75% on the session at 13.16 as of 11:35 am ET. Earlier in the session big prints in October expiry call options caught our attention as one large options market participants appears to have purchased roughly 106,000 of the Oct 22.0 strike calls for a premium of around $0.45 each. The VIX has not topped 22.0 since the end of 2012, but it would not take such a dramatic move in the spot index in order to lift premium on the contracts. The far out-of-the-money calls would likely increase in value in the event that S&P500 Index stocks slip in the near term. The VIX traded up to a 52-week high of 21.48 back in February. Next week’s release of the FOMC meeting minutes f...



more from Caitlin

Digital Currencies

Making Sense of Bitcoin

Making Sense of Bitcoin

By James Black at International Man

Despite the various opinions on Bitcoin, there is no question as to its ultimate value: its ability to bypass government restrictions, including economic embargoes and capital controls, to transmit quasi-anonymous money to anyone anywhere.

Opinions differ as to what constitutes "money."

The English word "money" derives from the Latin word "moneta," which means to "mint." Historically, "money" was minted in the form of precious metals, most notably gold and silver. Minted metal was considered "money" because it possessed luster, was scarce, and had perceive...



more from Bitcoin

Market Shadows

Helen Davis Chaitman Reviews In Bed with Wall Street.

Author Helen Davis Chaitman is a nationally recognized litigator with a diverse trial practice in the areas of lender liability, bankruptcy, bank fraud, RICO, professional malpractice, trusts and estates, and white collar defense. In 1995, Ms. Chaitman was named one of the nation's top ten litigators by the National Law Journal for a jury verdict she obtained in an accountants' malpractice case. Ms. Chaitman is the author of The Law of Lender Liability (Warren, Gorham & Lamont 1990)... Since early 2009, Ms. Chaitman has been an outspoken advocate for investors in Bernard L. Madoff Investment Securities LLC (more here).

Helen Davis Chaitman Reviews In Bed with Wall Street. 

By Helen Davis Chaitman   

I confess: Larry D...



more from Paul

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...



more from Pharmboy



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...

Learn more About Phil >>


As Seen On:




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.

Market Shadows >>