Archive for the ‘Chart School’ Category

Bears Take Another Slug

Courtesy of Declan.

After yesterday’s blast, bears took another chunk out of the recovery. Bulls might actually get more joy with a small position at the lows of the last three days in Large Caps. Pre-market action will be key; should it look like the market will open below the 3-day low then there could be a runaway lower. In such case, waiting for things to settle after the first 30 minutes of opening trading may offer a better entry.






What will give bears hope is the Russell 2000. This index is finding itself under increased pressure. What ‘hope’ the 50-day MA gave bulls yesterday was dashed by today’s close. Technicals are now net bearish, joining those of Large Caps. This has the makings of a breakaway move lower. If there is going to be a panic move, Small Caps could be the one to suffer the most.





The Nasdaq is playing a far quieter game. Under different circumstances, today’s action might be viewed as much more bullish. The two-day pattern is a ‘bullish harami’ and despite distribution over two of the last three days, there is a chance bulls could deliver a nice upside kick. Watch pre-market for leads; stops go on a loss of 5,097.





For tomorrow, bears should watch the Russell 2000, bulls the Nasdaq. Volatility is picking up nicely and money is to be made over the near term.




You’ve now read my opinion, next read Douglas’ and Jani’s.




I trade a small account on eToro, and invest using Ameritrade. If you would like to join me on eToro, register through the banner link and search for “fallond”.




If you are new to spread betting, here is a guide on position size based on eToro’s system.









Global Sell-Off: Technicians Weigh In

 

Global Sell-Off: Technicians Weigh In

Courtesy of 

It’s kind of silly that we’re even calling what went on Friday and over the weekend a “sell-off”, but that’s just indicative of how spoiled we’ve gotten by the absence of normal volatility this summer.

But summer is gone, like the headphone jack, and September is getting underway in a manner quite true to its volatile reputation.

So anyway, what’s do we make of this sell-off, shallow though it’s been so far? I turn to some of my favorite technicians this morning…

First, Ari Wald at Oppenheimer, who sees it as a buying opportunity. Ari notes that yields could back up on the 10-year to 1.8, 1.9% and still not present a problem for the equity market. The Taper Tantrum in 2013 is a good analog for this – stock volatility after Bernanke’s hawkish warning presented a fantastic chance to get long. He also notes that the Put/Call ratio is flashing a tactical buy signal, as well as the Vix spike.

Here’s Ari on what a Vix spike in the context of an uptrending stock market portends:

The recent spike in the VIX has also reached a buyable threshold, by our analysis. We define a VIX spike as a reading that is 50% higher than its 63-day low; this helps normalize for different volatility environments, and we consider the S&P 500 in an uptrend when the index is above its 200-day m.a. Spikes in the VIX typically occur around short-term market lows, and we’ve found it’s a more compelling signal when trend is positive. Since 1990, the S&P 500 has averaged an 8.4% gain in the next six months when this signal of selling exhaustion is triggered vs. a 4.2% gain during any six-month period.

You may click to embiggen his chart:

screen-shot-2016-09-12-at-7-53-35-am

Next, Jon Krinsky at MKM, no stranger to regular readers here. Jon sees Friday’s action as a fumble in the proverbial red zone. Just when the bulls thought they had it all sewn up for 2016…

The Bulls were driving down the field, looking to close


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Two Bar Reversal

Courtesy of Declan.

After weeks (and weeks) of inactivity, markets have delivered two big days of activity: Friday’s sell off and today’s recovery. Which of these days delivers the basis for market action over the next few months remains to be seen. One could argue today’s lighter volume and inability to recover all of Friday’s losses gives bears the edge, but the longer term trend is all bullish. I am biased by holding a Dow Jones short, but intermediate term technicals have turned bearish for both S&P and Dow.




The rally in the S&P stalled out at the 50-day MA. The index has underperformed since July and Friday’s gain only made modest in roads into returning to a leadership role.






On the flip side, Friday’s sell off in the Nasdaq tagged the 50-day MA before mounting a recovery. Such action looks more like a recovery ‘buy-the-dip’ which plays with the continued relative out performance of Tech indices relative to Large Caps.





Small Caps had enjoyed a period of out performance, but looking back over the last 6 months it has been in a state of flux. It too found support at the 50-day MA as did the Nasdaq, but it lost relative ground to the Nasdaq. Small Caps are a critical leadership index for secular bulls and it’s struggling.





For tomorrow, look for some bullish upside as bulls test the resolve of Friday’s bears. Whether new highs can be delivered is another matter, but I suspect markets will deliver a day of tight action. If bears do win out, look for a walk down of 3-4 days back to Friday’s lows.




You’ve now read my opinion, next read Douglas’ and Jani’s.




I trade a small account on eToro, and invest using Ameritrade. If you would like to join me on eToro, register through the banner link and search for “fallond”.




If you are new to spread betting, here is a guide on position size based on eToro’s system.









Weekly Market Recap Sep 11, 2016

Courtesy of Blain.

The week that was…

After a stifling tight range for many weeks – and more of that the first 4 days of the week, we finally saw a break in the action Friday. It occurred to the downside.  Quite a few technical markers were broken; more on that later.   It was all about the Federal Reserve again as someone dared to promote the idea that a rate hike could occur!

Comments from Boston Fed President Eric Rosengren—a voter this year on the Fed’s interest-rate setting board—helped to contribute toe the selloff. He said that the U.S. central bank could resume gradual rate increases as the risks facing the economy are more in balance, reigniting Wall Street’s fears about the end of easy-money policies.

To show how inane the market is about trying to read the tea leaves of a whopping 25 basis point rate hike, just the talk of a speech Monday by a normally dovish Fed member (Lael Brainard) helped stoke the fire of Friday’s selloff.

Thursday the European Central Bank sat pat, rather than do even more stimulus – which ruffled some feather of the “easy money, now and forever” crowd.

Ironically economic data the past week was pretty mediocre which the bulls were liking as it means no rush for the Federal Reserve to move.  “Bad news is good news”:

The Institute for Supply Management said its nonmanufacturing index fell to 51.4 last month from 55.5 in July—the slowest pace of growth since 2010.

bespoke

Then the hammer dropped Friday.

Here is a nice 5 day “intraday” chart of the S&P 500 via Doug Short.

spx-five-day

Yikes: Did I mention the robots are coming?

The week ahead…

Can the market recover from the horror that is a POTENTIAL 25 basis point hike in December?  Can the rumors of a September rate hike chase out the last remaining bull!?  Oh the drama!

Monthly retail sales will be the major economic report on deck.  Expect almost all talk to be about the Fed and it’s Sep 20-21 meeting though.

Index charts:

Short term: We were waiting…
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Is This Widely Ignored Indicator Signaling Investor Complacency?

Courtesy of Dana Lyons

There has been a recent spike in the number of Unchanged Issues which has, at times, signaled too much investor complacency in the past.

As readers are aware, our biggest stock market concern in recent weeks has been focused on the widespread overly bullish sentiment. Today’s Chart Of The Day presents one further example of potentially too much complacency on the part of investors – at least prior to today’s market plunge. Perhaps the most disregarded yet widely disseminated market statistic is the number of Unchanged Issues on the exchanges on a given day. Everyone focuses (rightly so) on Advancers and Decliners, but mostly ignores the Unchanged Issues. We mostly did as well, until we began to chart them more closely a few years ago.

Interestingly enough, we found that spikes in Unchanged Issues can be a sign of complacency while low levels can indicate elevated fear on the part of investors. These signals can be valuable on a contrarian basis when identifying potential bottoms and tops in the market. If you think about it, when market fear is high – at bottoms – volume is elevated and stocks of all stripes are on the minds of investors. When markets are rising – or stagnant – some issues, especially lightly traded ones, may slip investors’ consciousness.

I know many folks may find this notion a bit of a reach, or just downright goofy, but take a peak at the chart below. When tracking Unchanged Issues on the NYSE (using a 25-day average), we have seen that spikes have tended to occur near intermediate-term market tops. It is not a foolproof signal, but elevated numbers of Unchanged Issues showed up near tops in June 2007, April 2010, April 2011, September 2012, September 2014 and May 2015.

The concern currently is that NYSE Unchanged Issues as a % of All Issues is at its highest level in more than 10 years.

image

So is this signal a valid red flag? And has today’s action taken away some of the sting? (By the way, we regret not being able to post this prior to the day’s action – sometimes our client and subscriber responsibilities preclude more timely posts, however). The signal does fit with most of the frothy sentiment


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World Markets Weekend Update: The Global Divide

Courtesy of Doug Short’s Advisor Perspectives.

At week’s end, four of the eight indexes on our world watch list posted week-over-week gains, down from seven the previous week. The average week-over-week change was -0.14%, down from 1.51% the previous week. There was a substantial global divide underlying the fractional loss. The four gainers were the Asian indexes, with the Hang Seng’s 3.58% as the outlier at the top. The losses for the four Western indexes ranged from the DAXK’s -1.03% to the S&P 500′s -2.39%. The global split owes some of its spread to the Friday freak-out over a hawkish Fedspeak after Asian markets had closed. Particularly, surprising was the news of a previously unannounced Monday speech by uber-dovish Lael Brainard on Monday at the open of the FOMC week. Will she signal a less dovish stance? Stay tuned!

A Closer Look at the Last Four Weeks

The tables below provide a concise overview of performance comparisons over the past four weeks for these eight major indexes. We’ve also included the average for each week so that we can evaluate the performance of a specific index relative to the overall mean and better understand weekly volatility. The colors for each index name help us visualize the comparative performance over time.

Four Weeks

Year-to-Date Performance

Here is an overlay of the eight illustrating their comparative performance so far in 2016.

Here is a table of the 2016 performance, sorted from high to low, along with the interim highs for the eight indexes. Four indexes are in the green year-to-date, unchanged from last week. The big Hang Seng rally put the Hong Kong index at the top, replacing the Brexit FTSE. The Shanghai remains in the cellar.

The Global Bear Market Perspective

The column chart is sorted by the least to worst declines from previous peaks as of the week’s end. Seven of our eight watch list indexes had dropped into bear territory (a 20% decline), the S&P 500 being the sole exception. As of the latest close, only one of the eight is in the bear zone, unchanged from last week.

Global Bear Markets

A Longer Perspective

The chart below illustrates the comparative performance of World Markets since March 9, 2009. The start date is arbitrary: The S&P 500, CAC 40 and BSE SENSEX hit their lows on March 9th, the Nikkei 225 on March 10th, the DAX…
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Gold Gann Angle Update

Courtesy of Read the Ticker.

gold-gann-angle-updateGold Gann Angle, where are we now!



Short answer, we a poised to go to $145.





Click for popup. Clear your browser cache if image is not showing.

GLD




NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net



Investing Quote…



…”The game taught me the game. And it didn’t spare the rod while teaching.”…



Jesse Livermore





..”Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it”..



Warren Buffett





..”The stock market is filled with individuals who know the price of everything, but the value of nothing”..



Philip Fisher





..“Successful speculation requires staying on top of changes in industries and companies that either create new industries or improve on existing industries. The majority of your profits will come from these two … The shrewdest traders throughout history all adapted the skill of reactionary change, as the market constantly presents new and different opportunities.”..



Bernard Baruch





..”It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong”..



George Soros













S&P 500 Snapshot: Biggest Plunge Since June 24th

Courtesy of Doug Short’s Advisor Perspectives.

The historically unprecedented narrow trading range of the S&P 500 was snapped today by the biggest decline in 53 sessions. Today’s closing loss of 2.45% was the largest since the 3.59% selloff on June 24th. Today’s action essentially confirms the metaphor of an equity market infant nursing on mother Fed’s breast. The selloff was triggered initially by hawkish remarks by the normally dovish Boston Fed President Eric Rosengren, a voting member of the FOMC. But more surprising was the announcement of an unannounced speech by even more dovish Lael Brainard at the open of the FOMC week, which runs counter to the general policy a silent Fed prior to the FOMC meeting end.

Interestingly, the yield on the 10-year note closed at at 1.67%, up six basis points from the previous close.

Here is a snapshot of past five sessions in the S&P 500.

S&P 500

Here is daily chart of the index. Volume rose on today’s decline but remains subdued by comparison to the two-day selloff in June. The index closed at its intraday low and is now below its 50-day moving average.

S&P 500

A Perspective on Drawdowns

Here’s a snapshot of selloffs since the 2009 trough.

S&P 500 Drawdowns

Here is a more conventional log-scale chart with drawdowns highlighted.

S&P 500 MAs

Here is a linear scale version of the same chart with the 50- and 200-day moving averages.

S&P 500 MAs

A Perspective on Volatility

For a sense of the correlation between the closing price and intraday volatility, the chart below overlays the S&P 500 since 2007 with the intraday price range. We’ve also included a 20-day moving average to help identify trends in volatility.

S&P 500 Snapshot





Market Cap to GDP: An Updated Look at the Buffett Valuation Indicator

Courtesy of Doug Short’s Advisor Perspectives.

Note: This update incorporates Q2 Second Estimate GDP and recent release of the Wilshire Q2 numbers.


Market Cap to GDP is a long-term valuation indicator that has become popular in recent years, thanks to Warren Buffett. Back in 2001 he remarked in a Fortune Magazine interview that “it is probably the best single measure of where valuations stand at any given moment.”

The four valuation indicators we track in our monthly valuation overview offer a long-term perspective of well over a century. The raw data for the “Buffett indicator” only goes back as far as the middle of the 20th century. Quarterly GDP dates from 1947, and the Fed’s balance sheet has quarterly updates beginning in Q4 1951. With an acknowledgement of this abbreviated timeframe, let’s take a look at the plain vanilla quarterly ratio with no effort to interpolate monthly data.

The strange numerator in the chart title, NCBEILQ027S, is the FRED designation for Line 41 in the B.103 balance sheet (Market Value of Equities Outstanding), available on the Federal Reserve website. Incidentally, the numerator is the same series used for a simple calculation of the Q Ratio valuation indicator.

The Latest Data

The denominator in the charts below now includes the Second Estimate of Q2 GDP. The latest numerator value is Q2 data from the Fed’s “Corporate Equities; Liability” extrapolated based on the quarterly change in the Wilshire 5000. The current reading is 126.3%, up from 118.6% for the Second Estimate. It is off its 130.9% interim high in Q1 of 2105.

Buffett Indicator

Here is a more transparent alternate snapshot over a shorter timeframe using the Wilshire 5000 Full Cap Price Index divided by GDP. We’ve used the St. Louis Federal Reserve’s FRED repository as the source for the stock index numerator (WILL5000PRFC). The Wilshire Index is a more intuitive broad metric of the market than the Fed’s rather esoteric “Nonfinancial corporate business; corporate equities; liability, Level”. This Buffett variant is off its interim high of Q2 of 2015.

Wilshire 5000 Version

A quick technical note: To match the quarterly intervals of GDP, for the Wilshire data we’ve used the quarterly average of daily closes rather than quarterly closes (slightly smoothing the volatility).

How Well do the Two Views Match?

The first chart above uses Fed data back to the middle of the last century for the numerator, the second uses the Wilshire 5000, the data for which only goes back to 1971. The Wilshire is the more familiar numerator, but the Fed data gives us a longer timeframe. And those early decades, when the ratio was substantially lower, have definitely impacted the trend.

To illustrate the point, here is an overlay of the two versions over the same timeframe. The one with the Fed numerator has a tad more upside volatility, but they’re singing pretty much in harmony.

Two View Overlay

Incidentally, the Fed’s estimate for Nonfinancial Corporate Business; Corporate Equities; Liability is the broader of the two numerators. The Wilshire 5000 currently consists of fewer than 4000 companies.

Detrending the Data

A conspicuous feature of the Buffett indicator is the upward trend over the decades since the start of the data series. For a better sense of valuation over time, let’s detrend the data by letting Excel draw a regression through the series and eliminating the upward trend. First, let’s draw the regression through the series.

Buffett Indicator with Regression

Now let’s detrend and add standard deviations.

Buffett Indicator Detrended

The approach in the chart above is the same we use in our monthly update of the S&P Composite: Regression to Trend: The Latest Look at Long-Term Market Performance.

What Do These Charts Tell Us?

In a CNBC interview in 2014, Warren Buffett expressed his view that stocks aren’t “too frothy”. However, both the “Buffett Index” and the Wilshire 5000 variant suggest that today’s market remains at lofty valuations — still above the housing-bubble peak in 2007, although off its interim high in Q1 of 2015.

A we’re question repeatedly asked is why we don’t include the “Buffett Indicator” in the overlay of the four valuation indicators updated monthly. We’ve not included it for various reasons: The timeframe is so much shorter, the overlapping timeframe tells the same story, and the four-version overlay is about as visually “busy” as we’re comfortable graphing.

One final comment: While this indicator is a general gauge of market valuation, it it’s not useful for short-term market timing, as this overlay with the S&P 500 makes clear.

Two View Overlay





ECRI Weekly Leading Index: WLI YoY: Another Interim High

Courtesy of Doug Short’s Advisor Perspectives.

Today’s release of the publicly available data from ECRI (Economic Cycle Research Institute) puts its Weekly Leading Index (WLI) at 138.9, up 0.5 from the previous week. Year-over-year the four-week moving average of the indicator is now at 5.67%, up from 5.20% the previous week and its highest since September 2013. The WLI Growth indicator is now at 8.3.

“The Brecession Blunder”

ECRI’s latest website feature is an article pointing out the false expectation that the Brexit vote would trigger a recession. “Only now, with evidence mounting that such a recession hasn’t materialized, is there puzzlement about the ‘Brecession blunder’ – how could so many economists have been so wrong.” Read the full article here.

The ECRI Indicator Year-over-Year

Below is a chart of ECRI’s smoothed year-over-year percent change since 2000 of their weekly leading index. The latest level is above where it was at the start of the last recession.

WLI since 2000

RecessionAlert has launched an alternative to ECRI’s WLIg, the Weekly Leading Economic Indicator (WLEI), which uses 50 different time series from various categories, including the Corporate Bond Composite, Treasury Bond Composite, Stock Market Composite, Labor Market Composite, and Credit Market Composite. An interesting point to notice — back in 2011, ECRI made an erroneous recession call, while the WLEI did not trigger such a premature call. However, both indicators are now generally in agreement and moving in the same direction.

Appendix: A Closer Look at the ECRI Index

The first chart below shows the history of the Weekly Leading Index and highlights its current level.

WLI Complete Series

For a better understanding of the relationship of the WLI level to recessions, the next chart shows the data series in terms of the percent off the previous peak. In other words, a new weekly high registers at 100%, with subsequent declines plotted accordingly.

WLI Percent off Peak

As the chart above illustrates, only once has a recession ended without the index level achieving a new high — the two recessions, commonly referred to as a “double-dip,” in the early 1980s. Our current level is still off the most recent high, which was set back in June of 2007. We’ve exceeded the previously longest stretch between highs, which was from February 1973 to April 1978. But the index level rose steadily from the trough at the end of…
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Phil's Favorites

Comments on investment philosophy - part one of hopefully a few...

 

Comments on investment philosophy - part one of hopefully a few...

Courtesy of John Hempton, Bronte Capital

This is the first of several investment think pieces I have in my head dealing with investment philosophy, where markets are now and maybe even a stock or two... They are surprisingly hard to write so these posts might come slowly...   When I was starting out in the investment game I read Warren Buffett's letters from inception, Ben Graham, Phil Fisher, anything I could on Charlie Munger and the rest of the standard investing cannon.  ...

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Zero Hedge

Stunning University Of Kansas 'Safe Space' Vs. 'Free Speech' Meeting Caught On Tape

Courtesy of ZeroHedge. View original post here.

Ever wondered just what happens when the immovable object of safe-space-demanding social justice warriors collides with the irresistible force of free-speech-seeking American students? Wonder no longer...

On Thursday night protestors at Kansas University (KU) hijacked a Young Americans for Freedom (YAF) meeting, reportedly unleashing a virulent tirade against the conservative students, providing a glimpse into the crazy arguments of the far Left.

...



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ValueWalk

Buffett's Secret to Great Writing

By Lawrence A. Cunningham. Originally published at ValueWalk.

We all write more than ever today, but do we communicate well?  As one group, corporate directors, pondered how to communicate effectively to shareholders, they  turned to the gold standard.  They wondered, what most distinguishes Warren Buffett’s annual missive to Berkshire Hathaway shareholders, and asked me, as a student of these writings for two decades, for the answer.

]]> Get The Full Warren Buffett Series in PDF

Get the entire 10-part series on Warren Buffett in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

We respect your email privacy

Clarity, wit and rationality are...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Contagion Risks Rise as China Banks Fund Each Others’ Loans (Bloomberg)

China’s smaller banks have never been more reliant on each other for funding, prompting rating companies to warn of contagion risks in any crisis.

Profit Slump for S&P 500 Heads for a Sixth Straight Quarter (The Wall Street Journal)

The third quarter was supposed to be when earnings growth returned to U.S. companies. Not anymore.

...



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Kimble Charting Solutions

Leading indicator testing key breakout level

Courtesy of Chris Kimble.

The German Stock Market has been a quality leader in both directions the past few years. Below looks at why one might want to keep a “close eye” on this key global stock index, to see if it can hop over a important breakout level.

CLICK ON CHART TO ENLARGE

Similar to the S&P 500 and many stock indices in the states, the DAX index remains inside of a uniform rising 6-year channel, since the 2009 lows.

Th...



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OpTrader

Swing trading portfolio - week of September 26th, 2016

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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Chart School

Weekly Market Recap Sep 25, 2016

Courtesy of Blain.

The week that was…

It was all about the Federal Reserve as we noted it would be.  In last week’s recap we said:

From this perch there has been and continues to be zero expectation for a September rate hike as the Fed doesn’t want to be seen as “political” and trying to move the market ahead of November, but the Fed is at least trying to throw some bones out there to make the market a bit less complacent.

…and:

All eyes on the Federal Reserve with a meeting Tue/Wed and a press conference by Yellen Wednesday.   Since we expect nothing to happen Wednesday in terms of raising rates maybe the market will be in “relief” mode.  Unless there is strong language from Yellen hinting at a December rate hike....



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Members' Corner

Market Liquidity and Macroeconomic Bullshit

 

Market Liquidity and Macroeconomic Bullshit

Courtesy of The Nattering Naybob

STJL - "Apparently macroeconomics is all bullshit – ROFL! Paging Naybob now… Famous Economist Paul Romer Says Macroeconomics Is All Bullshit."

The Nattering One muses... Macroeconomics as practiced by academics and those in charge is pure voodoo. Better to chant over goat blood, bird feathers and scattered entrails...

As for reality, overnight CNH HIBOR (...



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Mapping The Market

Here's a Cautionary Tale of Pension Privatization From Chile

Via Jean-Luc:

"When you let the free market take over, the little people get screwed and bankers get rich. Chile tried privatizing retirement plans and surprise, surprise, fund manager ate the profits… Pretty sure the results would be the same here..."  ~ Jean-Luc

Here's a Cautionary Tale of Pension Privatization From Chile

By KEVIN DRUM, Mother Jones

Among free-market fans, Chile's privatized pension plan has long been held up as a model for us to follow. The problem, as the Financial Times notes today, is ...



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Digital Currencies

Gold, Silver and Blockchain - Fintech Solutions To Negative Rates, Bail-ins, Currency Debasement and Cashless

Courtesy of ZeroHedge. View original post here.

By Jan Skoyles

I was so pleased yesterday by the announcement that I have joined the Research team at GoldCore as it meant that I could finally start talking about it and was back in a role that lets me indulge in my passion by researching and geeking out on all things gold, silver and money.

...



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Biotech

Epizyme - A Waiting Game

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

Epizyme was founded in 2007, and trying to create drugs to treat patient's cancer by focusing on genetically-linked differences between normal and cancer cells. Cancer areas of focus include leukemia, Non-Hodgkin's lymphoma and breast cancer.  One of the Epizme cofounders, H. Robert Horvitz, won the Nobel Prize in Medicine in 2002 for "discoveries concerning genetic regulation of organ development and programmed cell death."

Before discussing the drug targets of Epizyme, understanding epigenetics is crucial to comprehend the company's goals.  

Genetic components are the DNA sequences that are 'inherited.'  Some of these genes are stronger than others in their expression (e.g., eye color).  Yet, some genes turn on or off due to external factors (environmental), and it is und...



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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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Promotions

PSW is more than just stock talk!

 

We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



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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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