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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, the Dow Jones Index is playing to bears. The rejection of the 200-day MA coincided with a failed test of former support turned resistance. An undercut of 16,350 would effectively confirm the retest of 15.855.

The Nasdaq 100 offers a more attractive entry level for shorts. There is a clear declining resistance level which was rebuffed on today’s action.  Technicals have sided with bulls, so shorts shouldn’t linger if such resistance is broken to the upside.

The Russell 2000 is in an odd position. It experienced the most bearish action on the day with its bearish engulfing pattern. This suggest further downside tomorrow, but given the strength of the October bounce, it probably has the best support options, first of which will be the 20-day MA.  A weak finish on Thursday may offer a value play here.

Bulls should also watch the Semiconductor Index. I’m still liking the ‘Island Reversal’, but for it to stay true, Tuesday’s breakout gap can’t close. It will have the 200-day MA to help bulls tomorrow, although it may not be enough to protect in morning action.

For tomorrow, the Nasdaq 100 is perhaps the index to watch for shorts with the best risk:reward. Longs can look to the Russell 2000 if there a second day of selling, but if bulls come bursting out of the gates then the S&P might be the better long play.

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.





S&P 500 Snapshot: Four-Day Rally Ends

Courtesy of Doug Short.

The S&P 500 got off to a reasonably good start following the pre-market Goldilocks inflation data (not too hot, not too cold), and retirees learned they would get a 1.7% Social Security COLA for 2015. The index hit its 0.41% intraday high about two hours after the open. It then began drifting lower with some accelerated selling the final hour. It closed with a -0.73% loss, just off its -0.74% intraday low, and snapping a four-day rally.

The popular press, always ready to explain market behavior (e.g., CNBC), seized on the gunfire near Canada’s Parliament and the plunging price of oil as prime causes of the selling.

The yield on the 10-year Note closed at 2.25%, up 2 bps from yesterday’s close.

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

Volume on today’s decline was relatively unremarkable — about the same as yesterday’s advance.

A Perspective on Drawdowns

How close were we to an “official” correction, generally defined as a 10% drawdown from a high (based on daily closes)? The chart below incorporates a percent-off-high calculation to illustrate the drawdowns greater than 5% since the trough in 2009.

Click to View
Click for a larger image

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





What If Chained CPI Had Been Used to Calculate COLAs Since 2002?

Courtesy of Doug Short.

Note from dshort: I’ve updated this commentary to include the 2015 Social Security COLA announced this morning that will take effect in December.


Each year the Social Security cost-of-living adjustment (COLA) is calculated based on the change from the Q3 average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the Q3 average of the previous year, rounded to one decimal place. If the average for the most recent year is below the previous high, there is no adjustment, as was the case in 2010 and 2011. Note that for 2011, the Q3 average was indeed higher than the 2010 average, but it was still below the 2009 average, hence no COLA. For the official announcement of the calculation on Social Security website, click here.

Last year, President Obama’s 2014 proposed budget recommended that, starting in 2015, COLAs should be calculated with the Chained Consumer Price Index for All Urban Consumers (Chained CPI). In this year’s proposed budget for 2015, the President abandoned the proposed shift to the Chained CPI for Social Security adjustments.

Let’s look at what the effect would have been over the years for a typical Social Security recipient if the Chained CPI had been used since its inception.

The earliest Q3 of Chained CPI data we have is for the year 2000. So the first COLA we can calculate would be for 2002 based on the change from Q3 2000 to Q3 2001. Here is a table showing the actual COLAs since 2002 and the hypothetical COLAs if we substitute the Chained CPI. I’ve illustrated the difference with a case history of a Social Security recipient who had received $12,000 in 2001, an even thousand per month, which I think was fairly close to the national average in that year. The rightmost column shows the annual and total shrinkage of annual income had the Chained CPI been used for COLA calculations.

When we compare the official COLA with the Chained CPI COLA in 2015 for our hypothetical retiree in the 14th year of retirement, the annual payout would be 3.6% less than with the traditional COLA calculation. In our illustration above, that’s about $50 less per month, which would buy a fair amount of groceries for a frugal shopper.

As the table illustrates, over time the proposed switch to…
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Chained CPI Versus the Standard CPI: Breaking Down the Numbers

Courtesy of Doug Short.

Note from dshort: I’ve updated this commentary to include the latest Consumer Price Index data published this morning.


The Consumer Price Index for Urban Consumers (CPI-U, or more generally CPI) is the most familiar gauge of inflation in the US. The data for the non-seasonally adjusted series stretches back a century to January 1913. But in February of last year the big news was relative newcomer to the inflation metrics of the Bureau of Labor Statistics (BLS), the Chained CPI for Urban Consumers (C-CPI-U).

The reason the Chained CPI was a hot topic in the news in last year was that President Obama had proposed it in his 2014 budget as the method for determining cost of living adjustments (COLAs) for Social Security. Here are some typical examples of the discussion last year in the popular press:

Shift forward to this past February’s proposed budget for 2015: President Obama abandoned the shift to the Chained-CPI for Social Security COLAs. The Washington Post had this spin: Obama budget without ‘chained CPI’ would protect federal retirement benefits.

Chained versus “Unchained” — Comparing Inflation Measures

For a snapshot comparison of how the conventional CPI and Chained CPI stack up against each other, I’ve created a variation on the CPI chart I’ve been updating monthly for the past several years here. The chart illustrates the overall change in inflation for CPI, Core CPI, and the eight top-level components of CPI since the turn of the century (more here). I also include energy, which is a collection of subcomponents, and College Tuition and Fees, a subcomponent of one of the top eight.

The BLS has published the data for these metrics for chained CPI from December 1999. The one missing element is College Tuition and Fees, a subcomponent of Education and Communication. The chart below pairs the two versions of each component showing the total change since December 1999. We can thus have a more educated sense of how the Chained CPI and conventional CPI differ from one another.…
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The Big Four Economic Indicators: Disappointing Real Retail Sales

Courtesy of Doug Short.

Note from dshort: With this morning’s release of the Consumer Price Index for September, we can now calculate Real Retail Sales for last month.


Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. This committee statement is about as close as they get to identifying their method.

There is, however, a general belief that there are four big indicators that the committee weighs heavily in their cycle identification process. They are:

  • Industrial Production
  • Real Personal Income (excluding Transfer Payments)
  • Nonfarm Employment
  • Real Retail Sales
  • The Latest Indicator Data

    With this morning’s release of the September Consumer Price Index, we can now calculate Real Retail Sales. I reported the nominal Advance Retail Sales last week, which showed September at -0.3% (-0.32% at two decimals) month-over-month, down from 0.6% in August. That was much worse that the mainstream forecasts. When we adjust for inflation, September sales came in even worse at a -0.41%. The chart below illustrates the series since 2009 with a linear regression to help us analyze the trend.

    The contraction in sales attributed to an unusually severe winter is clearly evident. April through July performed below trend. August saw a positive bounce that put us back to trend, but September appears to have reverted to the substandard summer growth.

    The Census Bureau’s Retail Sales series is, as I’ve pointed out elsewhere, subject to substantial revisions, to the latest month shouldn’t be taken too seriously.

    The Generic Big Four

    The chart and table below illustrate the performance of the generic Big Four with an overlay of a simple average of the four since the end of the Great Recession. The data points show the cumulative percent change from a zero starting point for June 2009. We now have the three indicator updates for the 61th month following the recession. The Big Four Average is (gray line below).

    Current Assessment and Outlook

    The overall picture of the US economy had been one of slow recovery from the Great Recession with a clearly documented contraction during the winter, as reflected in Q1 GDP. Data for Q2 supported the consensus view…
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    What Inflation Means to You: Inside the Consumer Price Index

    Courtesy of Doug Short.

    Note from dshort : The charts in this commentary have been updated to include today’s Consumer Price Index news release for the September data.

    The Fed justified a previous round of quantitative easing “to promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate” (full text). In effect, the Fed has been trying to increase inflation, operating at the macro level. But what does an increase in inflation mean at the micro level — specifically to your household?

    Let’s do some analysis of the Consumer Price Index, the best known measure of inflation. The Bureau of Labor Statistics (BLS) divides all expenditures into eight categories and assigns a relative size to each. The pie chart below illustrates the components of the Consumer Price Index for Urban Consumers, the CPI-U, which I’ll refer to hereafter as the CPI.

    The slices are listed in the order used by the BLS in their tables, not the relative size. The first three follow the traditional order of urgency: food, shelter, and clothing. Transportation comes before Medical Care, and Recreation precedes the lumped category of Education and Communication. Other Goods and Services refers to a bizarre grab-bag of odd fellows, including tobacco, cosmetics, financial services, and funeral expenses. For a complete breakdown and relative weights of all the subcategories of the eight categories, here is a useful link.

    The chart below shows the cumulative percent change in price for each of the eight categories since 2000.

    Click to View
    Click for a larger image

    Not surprisingly, Medical Care has been the fastest growing category. At the opposite end, Apparel has actually been deflating since 2000. Another unique feature of Apparel is the obvious seasonal volatility of the contour.

    Transportation is the other category with high volatility — much more dramatic and irregular than the seasonality of Apparel. Transportation includes a wide range of subcategories. The volatility is largely driven by the Motor Fuel subcategory. For a closer look at gasoline, see this chart in my weekly gasoline update.

    The Ominous Shadow Category of Energy

    The BLS does not lump energy costs into an expenditure category. Instead, it includes energy subcategories in Housing in addition to the fuel…
    continue reading





    Population-Adjusted Real Retail Sales: Another Perspective on the Economy

    Courtesy of Doug Short.

    In real, population-adjusted terms, Retail Sales are at the level we first reached in December 2004.

    Earlier this month, the Advance Retail Sales Report showed that sales in September declined 0.3% month-over-month, as I reported in my real-time update.

    With the subsequent release of the Consumer Price Index, we can now dig a bit deeper into the “real” data, adjusted for inflation and against the backdrop of our growing population.

    The first chart shows the complete series from 1992, when the U.S. Census Bureau began tracking the data in its current format. I’ve highlighted recessions and the approximate range of two major economic episodes.

    The Tech Crash that began in the spring of 2000 had relatively little impact on consumption. The Financial Crisis of 2008 has had a major impact. After the cliff-dive of the Great Recession, the recovery in retail sales has taken us (in nominal terms) 16.3% above the November 2007 pre-recession peak to a record high.

    Click to View
    Click for a larger image

    Here is the same chart with two trendlines added. These are linear regressions computed with the Excel Growth function.

    Click to View
    Click for a larger image

    The green trendline is a regression through the entire data series. The latest sales figure is 4.3% below the green line end point.

    The blue line is a regression through the end of 2007 and extrapolated to the present. Thus, the blue line excludes the impact of the Financial Crisis. The latest sales figure is 19.3% below the blue line end point.

    We normally evaluate monthly data in nominal terms on a month-over-month or year-over-year basis. On the other hand, a snapshot of the larger historical context illustrates the devastating impact of the Financial Crisis on the U.S. economy.

    The “Real” Retail Story: The Consumer Economy Remains at a Recessionary Level

    How much insight into the US economy does the nominal retail sales report offer? The next chart gives us a perspective on the extent to which this indicator is skewed by inflation and population growth. The nominal sales number shows a cumulative growth of 169.8% since the beginning of this series. Adjust for population growth…
    continue reading





    Consumer Price Index Rose Slightly in September; Social Security COLA for 2015 Will Be 1.7%

    Courtesy of Doug Short.

    The Bureau of Labor Statistics released the September CPI data this morning. Year-over-year unadjusted Headline CPI came in at 1.66%, down from the previous month’s 1.99%. Year-over-year Core CPI (ex Food and Energy) came in at 1.72% (rounded to 1.7%), little changed from the previous month’s 1.70%. The non-seasonally adjusted month-over-month Headline number was up 0.08%, and the Core number was up 0.23%. On a seasonally-adjusted basis, the all items index was up 0.1%.

    The CPI for Urban Wage Earners and Clerical Workers (CPI-W), which is used to calculate Social Security cost-of-living-adjustments, rose 0.1%, which was enough to ensure that the 2015 COLA will be 1.7%.

    Here is the introduction from the BLS summary, which leads with the seasonally adjusted data monthly data:

    The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in September on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment.

    Increases in shelter and food indexes outweighed declines in energy indexes to result in the seasonally adjusted all items increase. The food index rose 0.3 percent as five of the six major grocery store food group indexes increased. The energy index declined 0.7 percent as the indexes for gasoline, electricity, and fuel oil all fell.

    The index for all items less food and energy increased 0.1 percent in September. Along with the shelter index, the index for medical care increased, and the indexes for alcoholic beverages and for personal care advanced slightly. Several indexes were unchanged, and the indexes for airline fares and for used cars and trucks declined in September.

    The all items index increased 1.7 percent over the last 12 months, the same increase as for the 12 months ending August. The 12-month change in the index for all items less food and energy also remained at 1.7 percent. The 12-month change in the shelter index has been gradually increasing, and reached 3.0 percent for the first time since January 2008. The food index has also risen 3.0 percent over the span, while the energy index has declined 0.6 percent.   [More…]

    Investing.com was looking for increases of 0.1% for Headline and 0.2% for Core CPI. Year-over-year forecasts were 1.7% for both…
    continue reading





    Has The Bounce Gone Too Far?

    Courtesy of Declan.

    A fourth straight gain has probably caught bulls by surprise in as much as it has hurt bears. What I had thought would evolve into an Adam-and-Eve bottom may instead become a plain ‘ol “V”-bottom. What this sequence of gains does is it generates lots of underlying support for buyers to step in on the next sell off.

    The S&P was able to break declining resistance and close above its 20-day MA. Volume climbed to register accumulation, although overall volume was well down on earlier selling.  Bulls would probably welcome some tight action near today’s highs to help digest these gains. Today didn’t give any indication of a bear attack on the 20-day MA.


    The Semiconductor Index delivered on its bullish island reversal. This morning’s gap shouldn’t close, and with the day’s finish above 200-day and 20-day MA it’s well placed to run as far as the 50-day MA. This will help the Nasdaq and Nasdaq 100 too.

    The Nasdaq breezed past 4,325 which had the potential to be an attack level for shorts. It also sliced the 20-day MA, leaving the 50-day MA as the next upside target.

    The Russell 2000 has been more modest in its recovery, primarily because of the harder selling it experienced since the summer. It will probably be the first index to attempt a retest of the October swing low, but it’s also the index with the deepest discount to highs and 200-day MA, but which enjoyed the best relative advance for the rally off October’s low.

    For tomorrow, it’s probably going to be a sellers day – only because it’s hard to see markets deliver another big gain. However, today was a surprise, so let the market dictate terms.


    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.





    S&P 500 Snapshot: Biggest Gain in More Than a Year

    Courtesy of Doug Short.

    Europe was in rally mode when the US markets opened, and the EURO STOXX 50 would subsequently close with a 2.19% gain. The S&P 500 opened at its intraday low, up 0.28%, and headed higher through the day to its 2.02% high in the final hour. Its closing gain of 1.96% was its best one-day performance since its 2.18% surge on October 10th of last year. The popular financial press attibutes today’s gain to speculation more ECB stimulus and the strong Apple-earnings effect.

    The yield on the 10-year Note closed at 2.23%, up 3 bps from yesterday’s close.

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

    Here is a daily chart of the index. In yesterday’s update I pointed out the proximity of the close to the 200-day price moving average. It certainly offered no resistance today, and volume was 23% above its 50-day moving average.

    A Perspective on Drawdowns

    How close were we to an “official” correction, generally defined as a 10% drawdown from a high (based on daily closes)? The chart below incorporates a percent-off-high calculation to illustrate the drawdowns greater than 5% since the trough in 2009.

    Click to View
    Click for a larger image

    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





     

    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

    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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    Zero Hedge

    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 i...



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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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    FeedTheBull - Top Stock market and Finance Sites



    About Phil:

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

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    About Ilene:

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

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