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Congressional Hearing On Hedge Fund Tax Evasion Through “Fictional Derivatives” – Live Webcast

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

As reported yesterday, at 9:30 am this morning the permanent subcommittee on investigations will hold a hearing in which it will expose the latest tax-evasion loophole used by select high-frequency trading hedge funds which has the technical name “basket options“, but which, thanks to Carl Levin’s mnemonic of fictional derivatives” will be better known as such (read the full story How RenTec Made More Than $34 Billion In Profits Since 1998: “Fictional Derivatives“)

It will be interesting to learn, although we doubt it will be discussed, how in light of collapsing trading volumes for underlying securities, how much of the record derivative and future trading volume in recent years is directly related to this kind of tax-evading trading, and perhaps just as important, whether Congress and the IRS will crack down on such practices in the future.

Watch it live below (link to the Senate website here):

The agenda of today’s hearing:

The Subcommittee hearing will examine a set of transactions that utilize financial engineering and structured financial products to attempt to avoid paying U.S. taxes on short-term capital gains. Witnesses will include representatives of major financial institutions, as well as tax experts from a nonprofit institution and the U.S. Government Accountability Office.

PANEL ONE

    STEVEN M. ROSENTHAL
    Senior Fellow
    Urban-Brookings Tax Policy Center
    Washington, DC

    JAMES R. WHITE
    Director, Tax Issues
    U.S. Government Accountability Office
    Washington, DC

PANEL TWO

    MARTIN MALLOY
    Managing Director
    Barclays
    London, United Kingdom

    SATISH RAMAKRISHNA
    Managing Director, Deutsche Bank Securities Inc.
    Global Head of Risk and Pricing for Global Prime Finance
    New York, NY

    MARK SILBER
    Executive Vice President, Chief Financial Officer, Chief Compliance Officer, and Chief Legal Officer
    Renaissance Technologies LLC
    New York, NY

    JONATHAN MAYERS
    Counsel
    Renaissance Technologies LLC
    New York, NY

PANEL THREE

    GERARD LaROCCA
    Chief Administrative Officer, Americas, Barclays
    Chief Executive Officer, Barclays Capital Inc.
    New York, NY

    M. BARRY BAUSANO
    President and Managing Director, Deutsche Bank Securities Inc.
    Co-Head of Global Prime Finance
    New York, NY

    PETER BROWN
    Co-Chief Executive Officer and Co-President
    Renaissance Technologies LLC
    East Setauket, NY

Download the report, “Abuse of Structured Financial Products: Misusing Basket Options to Avoid Taxes and Leverage Limits” [PDF]





June Inflation Largely Attributable to Gasoline Prices

Courtesy of Doug Short.

The Bureau of Labor Statistics released the June CPI data this morning. Year-over-year unadjusted Headline CPI came in at 2.07%, which the BLS rounds to 2.1%, essentially unchanged from 2.13% the previous month. Year-over-year Core CPI (ex Food and Energy) came in at 1.96% (rounded to 2.0%), up from the previous month’s 1.83%. Of particular interest is the fact that month-over-month Core CPI (less food and energy) rose only 0.05% (rounded to 1.0). The headline MoM increase was largely driven by higher gasoline prices (which have dropped eight cents per gallon over the last two weeks).

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 0.3 percent in June on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.1 percent before seasonal adjustment.

In contrast to the broad-based increase last month, the June seasonally adjusted increase in the all items index was primarily driven by the gasoline index. It rose 3.3 percent and accounted for two-thirds of the all items increase. Other energy indexes were mixed, with the electricity index rising, but the indexes for natural gas and fuel oil declining. The food index decelerated in June, rising only slightly, with the food at home index flat after recent increases.

The index for all items less food and energy also decelerated in June, increasing 0.1 percent after a 0.3 percent increase in May. The indexes for shelter, apparel, medical care, and tobacco all increased in June, and the index for household furnishings and operations rose for the first time in a year. However, the index for new vehicles declined after recent increases, and the index for used cars and trucks also fell.

The all items index increased 2.1 percent over the last 12 months, the same figure as for the 12 months ending May. The index for all items less food and energy rose 1.9 percent over the last 12 months, a slight decline from the 2.0 percent figure last month. The index for energy increased 3.2 percent over the span, and the food index rose 2.3 percent.   [More…]

Investing.com was looking for increases of 0.3% for…
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Gold Dumped (Pre-CPI) And Pumped (Post-CPI)

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

9 minutes before CPI data hit, gold futures were slammed lower on notable volume ($390 million). Then as CPI hit and “noise” was evidently not going away, gold prices surged over $12 to $1316 obn very heavy volume… Gold is moving inversely with the USD (which is flying around) as stock rally (?) and longer-term bonds rally/flatten.

 

 

and in detail…

 

The USD Index is all over the place…





CPI Remains Stubbornly High as Yellen’s “Noise” Won’t Go Away

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Consumer Price Inflation was 2.1% in June (as expected) remaining above the Fed’s mandate levels and worryingly for all those who see the Fed as omniscient… refusing to go “noisily” down. Core CPI fell very modestly to 1.9% year-over-year but the jump in gasoline prices accounted for two-thirds of the overall rise in June CPI (seems like the Fed needs to print some more world peace to brings prices down). How many months of ‘high’ inflation does it take before Yellen admits it is not ‘noise’?

 

According to the BLS reports, “In contrast to the broad-based increase last month, the June seasonally adjusted increase in the all items index was primarily driven by the gasoline index. It rose 3.3 percent and accounted for two-thirds of the all items increase. Other energy indexes were mixed, with the electricity index rising, but the indexes for natural gas and fuel oil declining. The food index decelerated in June, rising only slightly, with the food at home index flat after recent increases.” Supposedly this is great news for those who don’t have to pay for gas. Below is the chart of gasoline CPI on a sequential basis.

Still, for those who face inflation in all its forms, the monthly price increase in June was certainly notable, and can be seen on the chart below.

 

On a year over year basis, the overall CPI remains rather “noisy”:

 

Inflation broken down by its components:

Finally, the full commentary from the BLS:

Food

The food index rose 0.1 percent in June; this compares to a 0.5 percent increase in May and is its smallest monthly increase since January. The index for food at home was unchanged in June after increasing 2.2 percent over the first five months of the year. Major grocery store food groups were mixed in June. The index for dairy and related products turned down in June, falling 0.4 percent after rising in each of the previous seven months. The fruits and vegetables index also  turned down, falling 0.3 percent after a 1.1 percent increase in May. The index for cereals and bakery products fell for the second month in a row, declining 0.2 percent. In contrast to these declines, the index for meats, poultry, fish, and eggs increased in June,…
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Chinese Premier Li Admits Central Planning May Not Be Optimal

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

In an odd admission of the possible fallibility of a centrally-planned economy, none other than Chinese Premier Li recently noted, we should never assume that we few at the top have more insight or power but should try to mobilize the intelligence and creativity of the many thousands of our people so as to create unrivaled value.” Perhaps the Federal Reserve would do well to listen. However, Li did not excuse himself from the need to spin how well things were going. On the heels of our 11 awkward Chinese fact charts, Li explains “the Chinese market is booming, the economy strong [sic]. Enterprises are the mainstay of the market.” However, as Diapason Commodities’ Sean Corrigan, when trying to confirm this ‘fact’, “discrepancies abound.”

 

Via Sean Corrigan of Diapason Commodities,

O Mirabile dictu! Just as Premier Li and a whole host of other members of the Madarinate told us handily in advance, the Chinese economy showed signs of ‘stabilization’, nay, actual improvement in both the all-important the GDP release for QII (7.5% v 7.4%) and the industrial production data for June (9.2% v 8.8%).

And why not when, pressured from above to ‘frontload’ their outlays, local government expenditures rose 16.4% year on year in the first half (and 6.1% in June alone) while basic tax revenues (i.e., receipts not including land sales) declined by around 4%? Why not, again, when under the approach of ‘Every stimulus of a macro import begins with a micro step’, the credit spigots were once more liberally opened as the quarter wore on, to the point that June combined the second biggest jump in M1 on record with a 32% yoy leap in ‘shadow’ finance (admittedly that latter calculated from a base which included last year’s quarter-end liquidity shock)?

In trying to parse the numbers themselves, as ever with China, discrepancies abound.

 

For instance, a US-style quarterly-annualized count of GDP supposedly shot from 6.1% to 8.2% between the first and second trimesters, yet the increase in overall electricity use (on a YOY basis) dropped from 5.4% to 5.2% making that either a glaring sign of fiddled numbers or glowing testimony to a remarkable improvement in energy efficiency. I wonder which it might be?

Similarly industrial production is said to have
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Putin Speaks: Will Respond “Adequately” To Ongoing NATO Buildup; “Wont Tighten Screws” In Response To Threats

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Perhaps there were some concerns that Putin, following the Russian Security Council Meeting today, may lash out at the west with escalating retaliatory sanctions against the west of his own. He did not which may explain why futures just saw an algo-driven buying wave moments ago. Still, what he did say is hardly justification to declare an “all clear” for risk as Putin being Putin, he merely reiterated for the nth time the Russian party line: Ukraine should facilitate a cease fire, Russia won’t “blink” no matter how intense western sanctions are, and Russia will retaliate in kind to any ongoing NATO build up on its borders. Oh, and Crimea is now Russia’s to do as it sees fit.

Full comments from Bloomberg, Reuters and RIA

  • PUTIN: RUSSIA WON’T `TIGHTEN THE SCREWS’ IN RESPONSE TO THREATS
  • PUTIN SEES `DEFIANT’ NATO BUILDUP IN EASTERN EUROPE
  • PUTIN WANTS `ADEQUATE, PROPORTIONATE’ RESPONSE TO BORDER THREAT
  • PUTIN: RUSSIA TO BOOST DEFENSE CAPABILITY AFTER NATO BUILDUP
  • PUTIN: SAYS SEES INCREASE IN USE OF LANGUAGE OF “ULTIMATUMS AND SANCTIONS” TOWARD RUSSIA, CALLS FOR MORE DIALOGUE
  • PUTIN SEES EFFORTS TO WEAKEN, DESTABILIZE RUSSIA
  • PUTIN SAYS GOVT IN KIEV TOOK POWER USING UNCONSTITUTIONAL MEANS
  • PUTIN URGES UKRAINE GOVT TO AGREE TO TRUCE, `HOWEVER BRIEF’
  • PUTIN: RUSSIA CREATING ANEW MILITARY INFRASTRUCTURE IN CRIMEA
  • PUTIN: U.S. MISSILE DEFENSE OFFENSIVE SYSTEM TARGETING RUSSIA
  • PUTIN: RUSSIA NEEDS FURTHER SAFEGUARDS TO DEFEND ECONOMY
  • PUTIN: RUSSIA TO USE CRIMEA AS IT BOOSTS DEFENSE CAPABILITY




Stocks Desperate To Put Ukraine In Rearview Mirror But More Russian Sanctions Loom

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Following the overnight ramp in various JPY crosses (dragging equity futures higher, and the Nikkei up 0.8%) it is as if the market is desperate to put all of last week’s geopolitical events in the rearview mirror, and while yesterday there were no economic events of note, today’s CPI and existing home prints should provide at least some distraction from the relentless barrage of one-line updates on Ukraine and Gaza. Still, that is precisely where the biggest risk remains, with an emphasis on the possibility of more Russian sanctions, this time by Europe.

Today will likely see more headlines on the situation as EU foreign ministers meet as well as the Russian Security Council. Watch out for headlines from all angles. Perhaps the most market-friendly outcome is that EU leaders talk very tough but do not agree on intensifying sanctions against Russia. Reuters thinks that despite all the tough talk, the EU is unlikely to punish Russia beyond the speeding up of the imposition of already agreed individual sanctions. A summit of EU leaders on July 16, the day before the airliner was downed, agreed the EU would punish Russian companies that help to destabilize Ukraine. According to Reuters, diplomats said Tuesday’s meeting in Brussels was still not expected to go much further than agreeing on the people and possibly companies to be hit with asset freezes under the framework agreed last week. Previously, they had only said they would decide on the list by the end of July. Citing unnamed diplomats, Reuters said moving towards more sweeping economic sanctions could only be decided by heads of government. The next scheduled summit of EU leaders is on August 30, though EU members could call for another emergency meeting.

An unknown element today will be the Dutch, who have previously advocated caution in imposing sanctions against Russia, but are likely going to be a large swing factor today. The Netherlands previous caution with respect to Russia was perhaps to due to its significant economic ties, but they will be forced into action given the loss of life they have experienced in the MH17 tragedy. In terms of the Russian Security Council meeting, not a lot has been reported on what to expect from this. Putin will chair the meeting to discuss “issues connected with safeguarding…
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Frontrunning: July 22

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

  • EU Works to Punish Russia as MH17 Bodies Leave Rebel Area (BBG)
  • Bodies From Malaysia Airlines Flight Begin Long Trip to Netherlands (WSJ)
  • Israel pounds Gaza as Kerry arrives (Reuters)
  • U.S. judge dismisses Republican lawsuit over Obamacare subsidy for Congress (Reuters)
  • Israel Soldier Missing Amid Assault on Hamas in Gaza (WSJ)
  • Detroit Retirees Vote in Favor of Pension Cuts (WSJ)
  • Russia Axes 1st Bond Sale in 3 Months as Ukraine Drives Up Yield  (BBG)
  • Wall Street Cut From Guest List for Jackson Hole Fed Meeting (BBG)
  • Credit Suisse to Exit Commodities, Posts Big Quarter Loss (BBG)
  • Draghi Cedes Euro Control to Yellen on Fed Rate Wagers (BBG)
  • Turkish Businesses Boycotting Israeli Products Because of Gaza (INN)
  • Soros Chart Shows Euro-Yen Reaching 2008 High (BBG)
  • Next iPhone Will Offer Bigger Screens; Apple Tells Suppliers to Gear Up for 4.7-inch and 5.5-Inch Screen Sizes (WSJ)
  • Sterling Trust Could Face Default on Loans if Clippers Aren’t Sold, CFO Says (WSJ)
  • Saudi to Open Up $531 Billion Stock Market to Foreigners (BBG)

 

Overnight Media Digest

WSJ

* Separatists in Ukraine released the bodies of victims in the downing of Malaysia Airlines Flight 17 and agreed to hand over the aircraft’s data recorders, allowing the focus to tighten on establishing who brought the jetliner down. (http://on.wsj.com/Uoe1bR)

* Workers and retirees approved pension cuts in Detroit’s bankruptcy, the city said Monday, a crucial step to emerging from the largest municipal insolvency in U.S. history. The city disclosed results from two months of balloting, which ended July 11. (http://on.wsj.com/1wTrViJ)

* European ministers are expected to approve sanctions that will target Russian oligarchs in response to the suspected downing of a Malaysian jetliner by Moscow-backed rebels in eastern Ukraine. (http://on.wsj.com/1nvUB1w)

* Apple Inc is preparing for its largest initial production run of iPhones this year, betting that larger-screen models will lure consumers now attracted to similar phones from Samsung Electronics Co. The company is asking suppliers to manufacture between 70 million and 80 million units, larger than the initial order last year of 50 million to 60 million versions of the iPhone 5S and 5C. (http://on.wsj.com/1qZBAm3)

* The U.S. owner of a meat supplier in Shanghai apologized…
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Bank Of England Leads Push For Deposit Confiscation – Japan, China, Russia Against Bail-Ins

Courtesy of ZeroHedge. View original post here.

Submitted by GoldCore.

Bank of England officials led by Mark Carney, the Bank of England governor, are attempting to bridge sharp differences among leading G20 countries as they prepare a landmark set of proposals aimed at tackling the problem of “too big to fail” banks according to the Financial Times today.

Talks under the auspices of the global Financial Stability Board (FSB) over the summer are approaching a key stage as officials aim to clinch an agreement on bail-ins and the bailing in of creditors including depositors of banks.

Finance officials are hoping to pave the way for proposals to be tabled at the G20 leaders meeting at the Brisbane summit in November.

The issue is of major consequence to globally systemic lenders such as Citigroup, Barclays and BNP Paribas, as some will have to issue billions of dollars of fresh bonds earmarked to carry losses.

The issue is of major consequence also to depositors who could see their savings confiscated as happened in Cyprus.

The complexity of the topic and differences between countries’ legal regimes and corporate structures are raising questions over how detailed any framework will be.

Japan is one of the countries with problems with bail-in plans amid concerns that they are not easily compatible with the structure of its banking system. Its banks are heavily deposit-funded, and officials are uncomfortable about the idea of bail-ins.

Japanese banks are already vulnerable and bail-ins could hurt consumer sentiment in the already struggling Japanese economy. Concerns in Tokyo are said to be sufficiently profound for it to push its case right up to the summit itself.

China is also sceptical about the notion of private sector bail-ins given its banks are state-owned. “There are some very entrenched positions,” one official told the FT.

Russia is likely to oppose the coming bail-in regime as well as many other large creditor nations.

Mr Carney, who also chairs the FSB, said in March he wanted to “break the back” of the too big to fail issue this year. He said regulators sought by
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The Ambitious Plan To Break California Into 6 States – A Model For The Future?

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Michael Krieger of Liberty Blitzkrieg blog,

The more I’ve thought about potential solutions to the gigantic mess we have found ourselves in as a species, the more I have come to believe we need to break apart into a vast multitude of city-states. The revolutionary concept of America in the first place was this idea of “self-governance,” something we do not posses an iota of in this day and age. As was noted recently in an academic paper published by Princeton and Northwestern, these United States have mutated into nothing short of an oligarchy. In fact, the study demonstrated that the will of the people has essentially zero impact on legislation whatsoever.

In centuries prior, the idea of “representative-democracy” in which people elect people to represent their interests in a far off capital seemed like a reasonable solution to a very real problem. Information took a very long time to get from one place to another, so you had to trust someone else to essentially negotiate for you on issues of national significance. Moreover, in such a disconnected world, centralization was not only more efficient, it seemed like the only way. As such, things became highly centralized, so much so that things have now morphed into a global oligarchy that wields almost total power. Meanwhile, the billions of plebs have no say whatsoever in the affairs that govern their lives; including whether they will be financially secure, posses any civil liberties at all or end up in jail for a wide litany of non-violent “crimes.”

With the incredible tools we now possess, thanks primarily to the Internet, we no longer need centralization of government. Nor do we really need representatives to vote for us on the issues that most greatly affect out lives. As any American understands, the diversity of cultural, economic, and political sentiments vary greatly throughout the land. It’s not just the obvious ones, such as the differences between “northerners” and “southerners,” but wide discrepancies exists within states themselves. For example, Austin is nothing like much of the rest of Texas, and the Denver/Boulder area where I live is very distinct from much of the rest of Colorado. The examples are simply too many to list, but I am of the belief that people are capable of, and should be free to, decide the most important things that affect their lives…
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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!

 
 

Zero Hedge

Congressional Hearing On Hedge Fund Tax Evasion Through "Fictional Derivatives" - Live Webcast

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

As reported yesterday, at 9:30 am this morning the permanent subcommittee on investigations will hold a hearing in which it will expose the latest tax-evasion loophole used by select high-frequency trading hedge funds which has the technical name "basket options", but which, thanks to Carl Levin's mnemonic of fictional derivatives" will be better known as such (read the full story How RenTec Made More Th...



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Chart School

June Inflation Largely Attributable to Gasoline Prices

Courtesy of Doug Short.

The Bureau of Labor Statistics released the June CPI data this morning. Year-over-year unadjusted Headline CPI came in at 2.07%, which the BLS rounds to 2.1%, essentially unchanged from 2.13% the previous month. Year-over-year Core CPI (ex Food and Energy) came in at 1.96% (rounded to 2.0%), up from the previous month's 1.83%. Of particular interest is the fact that month-over-month Core CPI (less food and energy) rose only 0.05% (rounded to 1.0). The headline MoM increase was largely driven by higher gasoline prices (which have dropped eight cents per gallon over the last two weeks).

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 0.3 percent in June on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reporte...

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Insider Scoop

NQ Mobile Shares Plummet After Announcing Dismissal Of PwC

Courtesy of Benzinga.

Related NQ Investors Focus On Earnings Rather Than Geopolitical Tensions NQ Mobile In Possible Short Squeeze; Muddy Waters Sticks To Guns

Shares of NQ Mobile (NYSE: NQ) dropped as much as 24 percent in Friday's pre-market after the company announced that it has dismissed Pricewaterho...



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Phil's Favorites

Holier than Thou: Why Should Anyone Believe the US, Ukraine, or Russia? What is the US Attempting to Hide?

Courtesy of Mish.

I am quite tired of rhetoric from the Obama administration and Kiev regarding the situation in Ukraine. Hardly any of it is believable.

Indeed, some Ukraine propaganda efforts of Kiev are so amateurish they appear as sloppy acts of desperate coverups.

If so, then it is far more likely Ukraine is the guilty party, not the separatists. If you are innocent, you do not choose such tactics.

What is the US and Kiev Attempting to Hide?

Earlier today, Obama Issued a Stern Warning to Russia coupled with a statement "What exactly are they trying to hide?"

That's a good question. But let me turn the tables by asking: "What exactly is the US and Kiev attempting to hide?"

C...



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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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Sabrient

Sector Detector: Bulls remain unfazed by borderline Black Swans

Courtesy of Sabrient Systems and Gradient Analytics

Despite a highly eventful week in the news, not much has changed from a stock market perspective. No doubt, investors have grown immune to the daily reports of geopolitical turmoil, including Ukraine vs. Russia for control of the eastern regions, Japan’s dispute with China over territorial waters, Sunni vs. Shiite for control of Iraq, Christians being driven out by Islamists, and other religious conflicts in places like Nigeria and Central African Republic. But last Thursday’s news of the Malaysian airliner tragically getting shot down over Ukraine, coupled with Israel’s ground incursion into Gaza, had the makings of a potential Black Swan event, which in my view is the only thing that could derail the relentless bull march higher in stocks.

Nevertheless, when it became clear that the airline...



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OpTrader

Swing trading portfolio - week of July 21st, 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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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's the latest Stock World Weekly. Please use your PSW user name and password to log in. (You may take a free trial here.)

#452331232 / gettyimages.com ...

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Option Review

Dunkin' Put Options Change Hands Ahead Of Earnings

Dunkin’ Brands Group, Inc. (Ticker: DNKN) put options are active on Friday as shares slip on a downgrade to “Neutral” from “Buy” (with a 12-month target price of $45.00) at Janney Montgomery, and perhaps ahead of the company’s second-quarter earnings report next Thursday. Shares in the name are down 1.2% just before midday to stand at $43.36 and off the lows of the session. The stock has dropped nearly 20% since reaching a 52-week high of $53.05 in March.

The most traded contracts on DNKN today are the Aug 40.0 strike put options, with nearly 5,700 contracts in play against open interest of just 452 contracts. Mos...



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Market Shadows

Danger: Falling Prices

Danger: Falling Prices

By Dr. Paul Price of Market Shadows

 

We tried holding up stock prices but couldn’t get the job done. Market Shadows’ Virtual Value Portfolio dipped by 2% during the week but still holds on to a market-beating 8.45% gain YTD. There was no escaping the downdraft after a major Portuguese bank failed. Of all the triggers for a large selloff, I’d guess the Portuguese bank failure was pretty far down most people's list of "things to worry about." 

All three major indices gave up some ground with the Nasdaq composite taking the hardest hi...



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Digital Currencies

Bitcoin Vs Gold - The Infographic

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

While Marc Faber has said "I will never sell my gold," he also noted "I like the idea of Bitcoin," and the battle between the 'alternative currencies' continues. The following infographic provides a succinct illustration of the similarities and differences between gold and bitcoin.

Please include attribution to www.jmbullion.com with this graphic.

...

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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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Promotions

See Live Demo Of This Google-Like Trade Algorithm

I just wanted to be sure you saw this.  There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.

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

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

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

And get this…had you done nothing b...



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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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