By the way thank you Phil for the DNDN idea. 3x till this morning and will 4x my small investment by next OE THANKS !!!!
The virtuous trade / Phil throws out so many ideas, that understandably he rejects all calls for a running total of how all ""quoted"" ideas are performing – it would be unworkable. But without such a list, I think it behooves us to call out the trades that have made a difference. January 13 expiration is going to be a big month for me as a significant number of sold put positions will expire worthless. One example of the power of patience and leaving well alone:
VLO – sold Jan 13, 17.5 puts for $3.45 – and this trade was placed in August 2011. VLO is currently a tad over $35!
And as time went by, and I got more experienced – with the help of Phil and the contributions from board members, I started selling short term puts and calls around this position. Sometimes having to roll, sometimes doubling down but always knowing what I was getting into, and feeling very calm and focussed that whatever happened I could handle it. And if I couldn't then there was always Phil to lend a helping hand. All in all, my profits since August 2011 would qualify as a tidy addition to any earnings from the day job.
Thank you Sir.
I want to thank you for sharing your wisdom with us. I've learned a lot (and still am) about your trading strategy, but also I see a man who truly cares about our country, America. Thank you.
Phil - Wow…wow. The vision and inate grasp of the options world you posess is rather staggering. It's this type of experience that I really hope to develop. I'm afraid I still can't see the moves, but I WILL learn. I cannot thank you enough for the patience, knowledge and effort you put into this place. Please keep it going!
Phil, did you by chance publish the weekly webinar on Youtube yet? I have been watching these and they are awesome. Unfortunately, I can't cut out of work to attend live webinars. Again, they are just awesome content – thank you.
Phil: That NFLX call was awesome. The speed at which NFLX options decayed was precipitous. The blow out spike that allowed me to double and roll my callers to 190(!) and the ridiculous 170 weeklies @3.50 a day away from Op-Ex. The gains I realized in that trade floored me when I took a long at my portfolio value on Friday. What a great way to start the 3rd Quarter.
thanks for the DNDN recommendation last week phil. that was moneeeee….
I would like to echo the sentiments of dclark41. Joining this site was the best thing I have ever done to aid my growth as a trader/investor. There are so many smart and experienced people here sharing their ideas that regardless what your investing style is you will learn something daily. Thank you and all the regular contributors for your generosity.
Have not done my 10,000 hours, but a couple of years at PSW, and moved from fishing with a single line to owner of a commercial trawler (metaphorically speaking). Now I fish with many lines. It is amazing when you go over the same information time and time again, eventually it clicks. Like planting trees; being the house, 20% sale items, selling into the excitement. and patience. I just sold an AAPL Jan 12 340/390 BCS financed by the sales of Jan 12 275 Put. The trade was put on one year ago for a net credit and exited five minutes ago for a 49 dollar per contract profit. No point in waiting till opex to see what happens, and I will just sell 10 of those VLO puts to make myself net the round 50.
I no longer worry about opex coming as I have adjusted well in time for most positions that go against me. I still make some howlers (RIMM, TBT, TRGT) but I play the percentages and my winners outdistance my losers by many miles.
I would never be in this position if it were not for Phil. He is a treasure, pure and simple. The goose that lays the golden egg if we care to listen and practice. Phil, a mighty big thank you.
I'm just starting my second year as a member, and I'd like to thank all of you for sharing your trading ideas and insight, and especially Phil of course for great all-around investing advice as well as trades! In addition to learning patience and profit-taking, I think one of the most important things I'm learning here is to stick to stocks and trades that suit my temperament. And wow, I had NO idea how hard it was to learn patience. I should say "practice" instead of "learn", because it seems to be a constant struggle. Phil, please keep reminding us how nice CASH is!
I have been a member of Phil's site for three years and counting, and my advice is that all investing takes time. There are o shortcuts, no secret way to riches. Same with Phil's site- you need time and patience to start benefitting fully from his advice. But it is often spot on and also very useful, especially to me as I try to keep a level head in this turbulent stock market environment.
I have been a "silent" member for the past year, and am 1,000 hours into the 10K hours of training (The last week is worth at least 500 hours!). Made lots of mistakes and misunderstood quite a few of Phil's calls, … some actually made money when reversed. The chat (Including the politics) is very engaging (Many great minds with international coverage), and a great companion, while nursing a trade gone wrong, through the night. The webinars (despite technical difficulties) are extremely useful. Thanks for your coaching … it has made me a consistently profitable trader, with a better understanding of what I do not know.
I read with great interest your statement the other day that the DX is unlikely to break 76 or there will be great hell to pay, torrential amounts of tears shed, and gnashing of dentures all over the world. Well. I have had several short DX contracts in the $78ish range during the last month and upon your two statements 1) don't be greedy, and 2) 76 could be a bottom, I yesterday put a buy GTC order to close my positions at 76 and for some inexplicable reason the DX spiked down after the close and now I can safely say that once again you have confirmed for me that you have been one of the best investment services I have yet to come across. Almost to the point that I'm beginning to think that maybe I'm completely wrong about my political stance as well. Almost. In any event, I wanted you to know that this has been my third execution based on your comments and recommendations that I have followed and this one has also worked to my advantage. My subscription fee has been more than justified for the next year and there's some left over to pay for my stay in Toronto this week, dinner at Joso's in the Yorkville section of town. If I smoked I'd have a Montecristo to salute you. Be well, stay well.
Fed days are fun! Just for grins I decided to see how much money I could make in two clicks. I bought DIA calls right when the surge started and then sold them the minute they hit my account. Net gain of 20% in 20 seconds. Can't do that very often…
Phil, you are the man. My positions in ABX and CLF are up massively this year, and doing very nicely with USO and UNG. TSR is another winner. Just waiting for the TSLA short now!
Rookie IRA Investor
Phil, I followed your investing ideas in LTP quite closely. It seems your insightful fundamental analysis knowledge serves you v. well. I get entertained and they are profitable.
Have been a member for about 6 months or there abouts. Signed up for a quarter at first and then for a year. To me, and it's only my opinion, it's an investment and I have made the membership fees back many times over on the strategy advice. Since joining and implementing the strategy of buy/writes and hedges I have cut my portfolio losses for the year and have a really good chance of going positive this year. If I would have continued down the road I was on, I would still have been fumbling around without a strategy and completely inept in what I was doing. I feel now the strategy is working and I am far more comfortable with the risks I am taking. I still have a lot to learn but I feel the fees have been one of the best investments I have made. The returns have been fantastic. Still have problems with the politics but hey nobody is perfect
I doubled down on our USO June $35 puts on Tuesday afternoon and listened to your posting yesterday and sold 1/2 midday and the rest I sold (luckily) at the top of the market yesterday with the last 1/4 of my contracts at 100% return in less than one day!
Happy holidays to all members of PSW. Just completed my 6th year and still my favorite site to read. Thank you all for your contributions and support especially you, Phil!
It is hard to learn the process that Phil teaches, but it is worth the effort. I think it is finally sinking in & so I say Thanks teacher for your patience & expertise! I've had a very good week so far & I know it is because of persisting in this learning process that you teach.
Phil/ I hope the next 5 year bear market will be as much fun and as profitable as this 5 year bull market. For those who survived 2008/2009, and who imbibed the wisdom of PSW, what a time it has been. Good to have you by my side. I think you are selling yourself short – you need to triple your prices :)
Phil – Great calls yesterday, you were in top form. As I was reading your postings, I had hindsight of what the day brought. The calls were uncanny!
Peace of mind / I have a portfolio mainly consisting of long term long calls, short term short calls and puts, and long term BCS. Three years, ago when I started my journey on this board I would be freaking out panicking as to what to do, as many of the short calls are ITM, Three years later (today) I look at the screen and serenely process the information. Three years ago, I inevitably made the wrong decisions which cost me a lot of money. Three years on I calmly roll the positions to whatever makes sense. No drama, no hair pulling, and a great cost saver. I guess they call that the power of education.
There are a lot of us that have been here a long time and we all learn something everyday. Just keep asking questions, there are a lot of smart people here and they are willing to help and then of course, you have Phil.
Peter D: great write-up for Short Strangles, Part 1, looking forward to Part 2, particularly the adjustment part.
Your discussion during your web seminar on SPX and SDS today was great. It really let me see how you look at the numbers and use the 5% rule to see where inflection points occur and what the bands look like. This was incredibly helpful. I actually sold out of my small short position at a good profit ( which was more a bet on a short term fluctuation rather than a hedge after listening to you) and will look more deeply at my portfolio and how to hedge it. In addition your view on hedging was also very helpful looking at the leverage you can get w/ a small spread, and protect portfolio against a big move against me. Thank you for your sharing this. Very helpful.
Thanks for the free disaster hedge ideas. I implemented variations of two of them on SDS bull call spreads and EEM bear put spreads (haven't done the TZA yet) and they really hedged my short term longs nicely today. Makes it seem a lot less like gambling.
You are the man (of the people)!
Simply the best blogger with the greatest group of members a person could surround himself with on trading day. I've been trading for quite some time now and the insights & suggestions offered by Phil and the members keep me on a continuous learning cycle.
Phil - DIA 107 Calls. As suggested I am taking the money and running to home depot for some shelter supplies! This is the grand finale of several successful trades from you through this roller-coster and as you have further suggested it is time for me to sit back and relax in cash. May even be able to talk my wife into the premium membership after these intelligent trades in a stupid market.
I traded with Phil for approximately three years, and consistently averaged 80% returns yearly... some of which was due to my skills as a trader, but much was a direct result of what I learned as a member of Phil's site.... both from Phil, and the many talented traders that hang out there. Phil... if you are reading along... thanks, again for the approximately $ 3 mil I made tagging along with you.... in order to make you feel good for the work you did... I gave the government 50% of it all, so you made your contribution....
Scott Pruitt is an alarming choice to lead the Environmental Protection Agency, yet the Republican majority in the Senate is pushing to confirm him later this week.
This is an agency, remember, that was created to protect our health, our children’s health and our environment from toxic products and pollution. President Richard Nixon, a Republican president, signed it into law.
Pruitt, currently the attorney general of Oklahoma, is on the side of the polluters. He shut down his state’s own environmental enforcement unit. He joined polluters at least 14 times to sue the EPA in order to weaken laws.
He’s a living, breathing, walking conflict of interest. The Intercept’s Sharon Lerner reported on his conflicts earlier this week. Some 15 companies with EPA enforcement actions against them in recent years have either donated directly to Pruitt, to his super PAC or to the Association of Attorneys General when he led it. Those companies include Koch Industries, Murray Energy, Peabody Coal and Monsanto.
Pruitt’s conflicts were so brazen that at the Senate hearing Democrats boycotted the vote to confirm him. Republicans, on whom polluters spend lavishly, pushed his nomination out of committee and onto the Senate floor, where it is to be voted on possibly as soon as Friday afternoon.
More evidence has surfaced that will show just where Pruitt’s loyalties lies: 3,000 emails between Pruitt and fossil fuel companies that could potentially reveal even more cozy ties with the energy industry. Some have been released already, like the letter to the EPA written by lawyers for one energy company which Pruitt then sent with his name on it to dispute the EPA’s methods for estimating methane emissions.
But the public interest group Center for Media and Democracy says Pruitt is withholding many more documents. For more than two years, the center has asked for these emails to be released. They are supposed to be public under Oklahoma’s open records rules. During the confirmation hearing, senators also…
Love is big business. In the UK alone last year, total retail spending on Valentine’s Day was estimated at £980m on cards, gifts, flowers, food and drink. We’ve come a long way from Lupercalia, the fertility festival of ancient Rome which appears to be the origin of this celebration.
We really have Pope Galasius to thank for the modern-day consumerist splurge. He is supposed to have declared the first St Valentine’s Day on February 14 496AD, matching the traditional time of the pagan Roman celebration. But it is a gruesome tale that lies at its heart.
According to some stories, the day was in memory of Valentine of Rome, a young priest martyred after defying Emperor Claudius II in 270AD by conducting illegitimate wedding ceremonies in the capital. He was jailed and eventually beheaded, but not before falling in love with the jailer’s daughter. It is believed that on the evening of his execution the young priest passed her a note which read “from your Valentine”. Something to consider when you wrap your meagre box of chocolates.
Something close to our own Valentine greetings were popular as far back as the Middle Ages, though written Valentine’s didn’t begin to appear until after 1400. The oldest known Valentine still in existence today was a poem written in 1415 by Charles, Duke of Orleans, to his wife while he was imprisoned in the Tower of London following his capture at the Battle of Agincourt.
Money started being made in earnest during the 19th century, the industrial revolution ushered in factory-made Valentine cards and in Kansas City in 1913, Hallmark Cards began mass production.
You might think that this marked the end for St Valentine’s Day as a genuinely romantic event. The day is now transformed into just another opportunity for retailers to take our hard-earned cash with an annual guilt trip – more to do with obligation than to do with…
In the beginning, humans were androgynous. So says Aristophanes in his fantastical account of the origins of love in Plato’s Symposium.
Not only did early humans have both sets of sexual organs, Aristophanes reports, but they were outfitted with two faces, four hands, and four legs. These monstrosities were very fast – moving by way of cartwheels – and they were also quite powerful. So powerful, in fact, that the gods were nervous for their dominion.
Wanting to weaken the humans, Zeus, Greek king of Gods, decided to cut each in two, and commanded his son Apollo “to turn its face…towards the wound so that each person would see that he’d been cut and keep better order.” If, however, the humans continued to pose a threat, Zeus promised to cut them again – “and they’ll have to make their way on one leg, hopping!”
The severed humans were a miserable lot, Aristophanes says.
“[Each] one longed for its other half, and so they would throw their arms about each other, weaving themselves together, wanting to grow together.”
Finally, Zeus, moved by pity, decided to turn their sexual organs to the front, so they might achieve some satisfaction in embracing.
Apparently, he initially neglected to do so, and, Aristophanes explains, the severed humans had “cast seed and made children, not in one another, but in the ground, like cicadas.” (a family of insects)
So goes Aristophanes’ contribution to the Symposium, where Plato’s characters take turns composing speeches about love – interspersed with heavy drinking.
It is no mistake that Plato gives Aristophanes the most outlandish of speeches. He was the famous comic playwright of Athens, responsible for bawdy fare like Lysistrata, where the women of Greece “go on strike” and refuse sex to their husbands until they stop…
Another day, another new record open for the Dow Jones Industrial Average, S&P 500, Russell 2000 and the Nasdaq 100 and the Nasdaq Composite. New highs are bullish, not bearish – especially new highs across all major averages.
But what’s going on in the “market of stocks”, beneath the surface of these new highs for the indices?
My friend Jon Krinsky, ace technician for MKM Partners, points out a divergence worth keeping an eye on in the New York Stock Exchange Composite (NYA)…
As the market pushes to new highs, less stocks are making new highs. Like most divergences, this can persist so it is once again a warning more than a timing tool.
Josh here – it’s worth pointing out that this can change relatively quickly, as large numbers of stocks play catch up and break out to new highs individually. These divergences don’t have to end badly, nor do they necessarily guarantee a correction through price. It’s just as reasonable to guess that the index price could correct through time should the rally become too narrow and falter.
When Volatility Gets Low, Buy Low Vol. Stocks
MKM Partners – February 12, 2017
“Taxation is the price we pay for failing to build a civilized society.”
– Mark Skousen
“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”
– Ronald Reagan
Taxation is almost never an exciting subject, nor do we want it to be. The best tax system would be silent and unobtrusive. It would raise enough revenue to cover essential government functions and not a penny more. Sadly, our US system is nowhere near the ideal.
In part one of this series, I talked about whether the new tax proposals would actually create jobs and discussed the proposed “Border Adjustment Tax” and some of its possible complications. In part two, today, we will look more closely at the rest of the tax proposals. Then next week we will go much deeper into the BAT and then into what I think the tax system should actually look like, which will be far different from anything I’ve suggested in the past. That discussion will make more sense if we have placed the ideas in full context. That is today’s objective.
The BAT is not a stand-alone policy. It is one component of a broader House Republican tax reform plan, which in turn is part of an even broader federal government reform proposal called “A Better Way.” In theory, the different parts all work together, which is good but makes it hard to discuss any one element in isolation.
In this series, I’m looking specifically at the tax-reform portion of the Better Way proposal. It has other planks on national security, health care, poverty, and more. They are important, and I may discuss them in the future, but let’s leave them aside for now.
I must also note that I am not a CPA or any other sort of tax…
The news business is in a sweat about fake news. The temperature has been rising since the November election of Donald Trump as President and it went febrile on February 2 when his press secretary Kellyanne Conway claimed the president’s restrictions on immigration announced on January 27 were justified by the massacre carried out by Iraqi refugees (some time ago) in Bowling Green, Kentucky. There had never been a massacre but she got away with saying it on the Chris Matthews MSNBC news show—and that has news critics apoplectic. How could mainstream journalism, which has to include presidential press secretaries, have fallen into such an embarrassing state?
The idea of "fake news" became a talking point during the fall election season when stories such as Hillary Clinton’s involvement in a pizza-house pedophilia ring circulated. Few, if any, legitimate news organizations bought into that story, or into post-election White House claims that the president lost the popular vote because of voter fraud.
Going back several years, though, the press and television news organizations have compiled a troubling record of reporting stories that were false. The most spectacular of those were The New Republic's gullible acceptance of editor Stephen Glass’s fabricated stories before finally firing him in 1998; CNN’s 1998 investigative report—later retracted as "unsupportable by the facts" and skewered as more fantasy than fact—that sarin nerve gas had been used on a 1970 covert raid by U.S. special forces to kill a group of GIs who had defected to the North Vietnamese on the Ho Chi Minh Trail; The New York Times 2003 admission that its reporter, Jason Blair, had filed numerous false stories before his editors owned-up to their own collusion in his duplicity and canned him.
There’s been no shortage of blame passed around for the so-called “fake news” epidemic that has been front and center since the U.S. election.
Social media has been singled out as one key factor leading to the spread of misleading or false news. However, low barriers to entry for creating content, hyperpartisanism, confirmation bias, and the echo-chamber effect have also been identified as causes or symptoms in the proliferation of such stories.
The Fake News Problem
It’s certainly a complex problem to unravel, and many proposed solutions are just as alarming as the symptoms they try to treat. The decentralization and fragmentation of information is the core of what makes the internet great, and this democratization helps to decouple power away from the established institutions that may or may not have our interests at heart.
How do we regulate news for its authority and legitimacy without stifling alternate viewpoints, differing narratives, and independent sources of information?
In today’s landscape, people are turning away from traditional media and gravitating towards digital content. In this new digital media paradigm, who is considered a trustworthy and convenient source of information?
As long as they could remain reputable, the mainstream outlets that garnered eyeballs throughout broadcasting history should have been the obvious benefactors of this transition. Groups like CNN and Fox News, or The New York Times and The Washington Post, could have remained unquestioned authorities on the issues.
However, it seems like this opportunity has been recently squandered to some extent. These outlets have been slow to adopt their business strategies to the digital landscape, and they remain in damage control mode as advertising revenues drop and profitability wanes. Publishers have been under immense pressure to generate views, and have taken shortcuts in content creation to do this. Hyperpartisan viewpoints that confirm existing biases (aka, the Huffington Post or Breitbart models) and sensational clickbait headlines have been one easy way to build traffic. Some publishers also have…
Trump Dealt Biggest Setback Yet in Legal Fight Over Travel Ban
Ruling in San Francisco Pushes Case Closer to Supreme Court
A federal appeals court ruled unanimously that the U.S. will remain open to refugees and visa holders from seven Muslim-majority countries, rejecting a bid by the Trump administration to reinstate a travel ban in the name of national security.
The San Francisco-based appeals court on Thursday spurned the government’s request to close the doors after days of public debate over President Donald Trump’s attacks on the judicial system and a rush of fearful immigrants. The ruling increases the likelihood that the administration will ask the Supreme Court to step into a case that’s the biggest test of Trump’s executive power yet.
Trump was defiant, tweeting within minutes of the ruling, “SEE YOU IN COURT. THE SECURITY OF OUR NATION IS AT STAKE!”
The panel’s ruling in favor of immigrants is a victory not only for Washington and Minnesota — the states that sued — but for Facebook Inc., Google Inc. and Microsoft Corp., which said in court papers that the measure would hinder their global businesses.
President Trump has all but promised to appeal to the Supreme Court — something that would be relatively unusual, given that this is, after all, still a very preliminary ruling in the case. But this court battle, so far, has been about much more than legal procedure. It’s a fight over the policy that’s defined the still-young Trump administration — and a battle between a president who promises to do whatever it takes to ensure “security” and an opposition that sees “security” as a flimsy excuse for xenophobia and discrimination.
Longtime readers of Outside the Box know that I am a fan of Dr. Lacy Hunt of Hoisington Investment Management. Lacy and his partner, Van Hoisington, produce a quarterly letter that is a must-read for me, as it reliably informs my thinking in a world drowning in conventional economics – economics that seem to continually miss the mark.
It almost goes without saying that Lacy will be speaking at our Strategic Investment Conference again this year, and he’s just one of a long (and still-lengthening) list of top-flight speakers. Learn more and reserve your chair, right here.
Today’s OTB is one of the most important pieces Van and Lacy have written in a long time. They establish that the proposed tax reforms will face enormous headwinds that were not there during previous tax-reform eras, which means that the benefits that Republicans think will accrue are likely to take longer to appear and be less than expected, which will mean that it is going to take more than what is presently proposed to jump-start the economy.
A few readers have asked me whether I am still a deficit hawk. The answer is, “Yes, more than ever,” because total debt has now rendered both monetary and fiscal policy much less effective. Debt, as Lacy and Van clearly show, is an impediment to growth.
There are other issues impeding growth, such as the ten million men between ages 24-64 who are not in the work force, a condition that has been steadily worsening for 40 years. It’s not just a recent phenomenon, but it must be addressed. These are men who have chosen to not participate for one reason or another and are perforce a drain on overall GDP growth.
And let’s not forget that for the last nine years we have seen more businesses close than be created, which has certainly affected GDP.
Tax reform is fine, but far more structural change is necessary if growth is to return. I will be writing on that topic over the next few weeks. But today we appreciate the work of Lacy…
Vizzini: He didn’t fall?! Inconceivable!
Inigo Montoya: You keep using that word. I do not think it means what you think it means.
– From The Princess Bride
“A tariff is a scale of taxes on imports, designed to protect the domestic producer against the greed of his consumer.”
– Ambrose Bierce
“Vast possibilities matured into realities before their very eyes. Nevertheless, they saw nothing but cramped economies struggling with ever-decreasing success for their daily bread.”
– Joseph Schumpeter on the Industrial Revolution
The usual thrust of this letter is economics, finance, and investing. Lately, however, the political process has been invading my normal domain – sometimes to the dismay of some of my readers. I get that politics comes with the territory; and I think everyone, no matter their political persuasion, will agree that taxes, which are political in nature, have a major impact on economics, finance, and investment. And thus commenting on taxes is fair game.
My original intention for this letter was to do an analysis of the Republican tax reform proposals. My associate Patrick Watson and I spent two weeks doing a really deep dive into the proposed reforms. I had the privilege of talking taxes with the chairman of the House Ways and Means Committee, fellow Texan Kevin Brady, as well as his staff. The chairman was kind enough to allow his remarks to be on the record – but his staff made it clear that they were to be on background. We have also talked with numerous think tanks and other experts across the political spectrum. We’ve actually been able to get information on some of the proposed reforms that, as far as we can tell, isn’t available in anything that’s already out there on the Internet.
A few observations from 30,000 feet –
1. This is a far more sweeping proposed tax reform than Reagan’s. Not even in the same league. When I tell you that it touches everything, I mean that it touches EVERYTHING. And not just…
Lat week I provided and excerpt from Buffett’s ‘Owner’s Manual’ – In June 1996, Berkshire’s Chairman, Warren E. Buffett, issued a booklet entitled “An Owner’s Manual” to Berkshire’s Class A and Class B shareholders. The purpose of the manual was to explain Berkshire’s broad economic principles of operation.
Get The Full Warren Buffett Series in PDF
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I will teach novices and experts alike how to fit Bitcoin into an investment portfolio safely and with the optimum risk-adjusted potential - along with step-by-step guides, instructions and tutorials.
This first part of the series starts with the basics, obtaining and managing your bitcoin.
What is Bitcoin?
First off, we need to know what Bitcoin is since most media pundits and even experienced financial types truly do not know. Bitcoin (capital "B") is a protocol driven network (very similar to that other popular protocol-based network, the Internet). This network is a blank tapestry upon which smart and creative actors can paint a cornucopia of applications (just like applicat...
These GOP guys were so worried about Hillary's email server and now we find out that we had something close to a Russian mole in the White House. In the meantime, Trump keeps on using his unsecured phone, had high level conversation in his resort in front of dinner guests! It's getting so bad that rumors are now circulating that the NSA is not sharing information with the WH:
….Our spies have had enough of these shady Russian connections—and they are starting to push back….In light of this, and out of worries about the White House’s ability to keep secrets, some of our spy agencies have begun withholding intelligence fro...
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The quite long in the tooth rally continues as we had 3 days of minor loses to begin the week; ending with 2 days of moderate gains. We are in a bit of a quiet zone as most S&P 500 companies have now reported earnings, the Federal Reserve is not a “worry” for about a month and a half, and the major economic news of the month hit the prior week. So the gnashing of teeth (or not) about government policy seems to be the main driver right now- late in the week it was announced some major new tax initiatives would be coming down the pike soon which the market liked.
President Donald Trump said Thursday that an announcement concerning taxes is on tap for the coming weeks, which his press secretary later said would involve an outline of a comprehensive tax plan. “...
Note: The material presented in this commentary is provided for
informational purposes only and is based upon information that is
considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW)
nor its affiliates
warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
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