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Goldman Warns Midterm Elections Raise Risk Around Fiscal Deadlines

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

The US midterm elections taking place on November 4 may very well lead to a shift in Senate control to Republicans from Democrats, according to Goldman Sachs. They argue that a Republican-controlled Congress could renew legislative activity – at least on small issues – but also increase (unwanted) uncertainty on some larger ones creating risk around fiscal deadlines.

 

 

Goldman notes,

The US midterm elections taking place on November 4 may very well lead to a shift in Senate control to Republicans from Democrats. We ask four experts, one question each about the largest potential impacts of the election and of the possible Senate turnover in particular. They argue that a Republican-controlled Congress could renew legislative activity – at least on small issues – but also increase (unwanted) uncertainty on some larger ones. And they conclude that a shift to a Republican-controlled Senate would – intuitively – affect the healthcare sector, but – not-so-intuitively – may not directly impact defense. But with Democrats well positioned for material gains in 2016, Larry Sabato, a political expert at the University of Virginia, cautions that Republicans would need to use any newfound power wisely.

 

Q. Would a Republican takeover of the Senate in 2014 benefit Republicans in 2016?

A. Larry Sabato, Professor and Director of the Center for Politics, University of Virginia: Two years is four eternities in politics. After the GOP sweep in 2010, the Republican mantra was, “Even my dog could beat President Obama in 2012.” For every action, there can be an equal or opposite reaction in politics as well as physics. The same thing could happen this time if the Republicans do not use their newfound total control of Congress (assuming that happens) judiciously and strategically.

Q. What are the biggest potential policy implications of a possible Republican takeover of the Senate?

A. Alec Phillips: A Republican Senate majority would likely lead to an incremental uptick in legislative activity – potentially even on a couple of big issues, including tax reform – and increased risk around fiscal deadlines.

On some smaller issues, congressional Republicans would be more likely to advance legislation to the President that congressional Democrats have previously managed to hold back. This might include “fast track” authority to negotiate trade agreements,


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Hillary Clinton: “Businesses Don’t Create Jobs” – Why She’s Never Been More Wrong

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Via Future Money Trends,

Narcissism in politics is nothing new, but it is absolutely disgusting and scary that this person is a hero in the minds of millions of Americans.

“Businesses don’t create jobs,” according to Hillary Clinton. Apparently she missed the entire 1990s when private businesses created over 20 million jobs during her husband’s two terms in office.

In her mind, she clearly credits herself, her husband and the government for those years, when in reality, they walked into the greatest communications revolution since the telephone. And even then, they couldn’t balance the federal budget as tax dollars flooded in from all the new jobs that businesses were creating.

I know that the media claims President Clinton balanced the budget, but the truth is it never happened. The Boskin Commission changed the inflation calculation for the BLS, ripping off our senior citizens and turning their annual cost of living increase into an annual cost of survival rate. The Clinton Administration also made budget projections using short-term interest rates instead of long-term.

Hillary’s wrong on the idea that government creates jobs – the government destroys jobs.

1. Government Borrowing

All government borrowing hurts the real economy. Like a drug, it can have some short-term effects that are perceived as positive, but in the long run, this misallocation of capital hurts our chances of having a sustainable economy based on real supply and demand.

Every dollar loaned to the government is not invested in business, not loaned to the private industry, and is taken out of the economy and redirected by a central planner.

2. Taxes

The government raises its capital by putting a gun to its citizens’ heads; pay taxes or go to jail. This means taking money from our wallets, meaning we buy less, reducing the capital citizens have to spend, invest and save.

3. Central Banks Print

This is inflationary. In a real economy, prices go down; however, since the politicians use inflation as a stealth tax, our central planners are hell-bent on pushing the inflation rate up. Inflation is how the government is able to raise your taxes without getting any real backlash from voters. If prices go up and the tax rate stays the same, the government is making more money.

This hurts the everyday Americans; especially those on fixed income,…
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Jim Grant On Complexity: The Hidden Cost Of Central Bank Actions

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Authored by Jim Grant of Grant’s Interest Rate Observer,

Central banks are printing rules almost as fast as they’re printing money. The consequences of these fast-multiplying directives — complicated, long-winded, and sometimes self-contradictory — is one topic at hand. Manipulated interest rates is a second. Distortion and mispricing of stocks, bonds, and currencies is a third. Skipping to the conclusion of this essay, Grant’s is worried.

“One would not think at first sight that government had much to do with the trade of banking,” Walter Bagehot, the famed Victorian writer on finance, mused a century and a half ago. As time rolls on and regulation gives way to regimentation, the question presents itself: Do bankers have much to do with the trade of banking anymore?

One sees a certain measure of justice in the humbling of the regulated financial titans who put themselves in this position of vulnerability; many of them were going broke. Then, again, there’s irony in the regulatees ceding power to the regulators. The latter seemed to know even less about the corrupted structure of money and credit than the former.

The US Fed keeps talking about raising interest rates, and maybe the time has come, or will come in this lifetime, for the Federal Open Market Committee (FOMC) to act. Even the talk, though, places the Fed many cyclical furlongs ahead of its foreign counterparts. The central banks of Japan and Europe haven’t begun to acknowledge the eventual need for tighter money. Besides quantitative easing (QE) of one kind or another, Haruhiko Kuroda and Mario Draghi are dropping broad hints about the desirability of cheapening their respective currencies. Concerning the Swissie, the Swiss National Bank is reiterating its determination to print them up by the boxcar-full to protect the domestic Swiss economy against an export-thwarting Swiss/euro exchange rate.

What the mandarins share — ours and theirs — is faith in radical nostrums. Few would have contemplated these measures, let alone espoused them, much less implemented them, before 2008. The conventional monetary belief system changed in the blink of an eye. In 2002, in a speech in Washington, DC, then Fed Governor Ben S. Bernanke invoked Milton Friedman’s idea for emergency monetary stimulus. When banks are impaired and the price level sags, the stewards of a fiat currency could hire pilots and…
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Thank You US Taxpayers: Russia-Ukraine Agree Terms On Gas-Supply Through March

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Good news for the cold-showering, snow-covered Ukrainians… Russia has reached an interim agreement to supply natural gas to Ukraine through March according to Bloomberg. Of course, this will be paid for by more IMF loans (thank you US Taxpayer), pushing Ukraine further into debt and more dependent upon the West.

  • *RUSSIA CONFIRMS GAS SUPPLY RESUMPTION TERMS AGREED WITH UKRAINE
  • *GAZPROM, NAFTOGAZ CEOS SIGN AMENDMENT TO CONTRACT
  • *RUSSIA, UKRAINE, EU AGREEMENT TO COVER DELIVERY THROUGH MARCH

Terms…

  • *OETTINGER: RUSSIA TO CHARGE UKRAINE $385/KCM THROUGH MARCH
  • *UKRAINE READY TO IMMEDIATELY PAY $1.45B OF GAS DEBT: OETTINGER
  • *NAFTOGAZ TO PAY $1.6B AS 2ND GAS DEBT INSTALLMENT BY YEAR-END

Paid for by US taxpayers…

  • *UKRAINE TO USE EU, IMF AID TO PAY FOR RUSSIAN GAS: OETTINGER

As Bloomberg reports,

Ukraine and Russia reached an interim natural-gas supply deal in talks brokered by the European Union to secure flows before the heating season, a Russian Energy Ministry spokeswoman said.

 

The accord agreed by Russian Energy Minister Alexander Novak, his Ukrainian counterpart, Yuri Prodan, and EU Energy Commissioner Guenther Oettinger will enable resumption of deliveries of gas from Russia to Ukraine after they were halted in June in a pricing and debt conflict.

 

Russian Energy Ministry spokeswoman Olga Golant, speaking by phone, confirmed the agreement.

 

The 28-nation EU was seeking to avoid a repeat of 2006 and 2009, when disputes between the former Soviet republics over gas debts and prices led to fuel transit disruptions and shortages across Europe amid freezing temperatures.

AP reports,

Moscow and Kiev have clinched a deal that will guarantee that Russian gas exports flows into Ukraine throughout the winter despite their intense rivalry over the fighting in eastern Ukraine.

In Thursday’s signing ceremony following protracted negotiations, the two sides promised to get the gas flowing into Ukraine again after a long and bitter dispute over payments.

EU Commission President Jose Manuel Barroso announced the “very important agreement” between the two sides.

Talks to guarantee that Russian gas imports flow into Ukraine throughout the winter appeared to be at an impasse Thursday because of doubts over payments from Kiev.

A European Union official says the negotiations, which were supposed to produce an agreement Wednesday, broke up inconclusively early…
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Why I Don’t Really Care About Your Product

Courtesy of ZeroHedge. View original post here.

Submitted by Capitalist Exploits.

By: Chris at www.CapitalistExploits.at

I’ve just gotten off the phone with a gentleman who runs a radio show dedicated to entrepreneurs. He reached out to us as he thought it’d be interesting speaking with me, as an entrepreneur, and as an Angel investing in entrepreneurs.

He wanted to know what we look for in a company that is pitching to us. He wanted to know what type of product or service we’d be interested in. These seem like reasonable questions and while we do have certain industries that we like more than others, the answer I gave was that at the end of the day I don’t really care about the product half as much as I care about the people.

If you’re an entrepreneur pitching your deal to me know this: I care about how and why YOU will make your product/service work, and how it is going to make you and I a lot of money.

Last time I checked, products don’t make companies succeed and thus enrich early investors..it’s PEOPLE who do so.

I was also asked about the most important element or characteristic an entrepreneur needs to have for me to get interested. My answer was plain and simple: passion.

In a recent post about passion I said the following:

Passion is the single fastest way to spur yourself to massive success. This is what makes it is possible to get up early, stay up late, remain inspired and engaged and to forgo other pleasures. It’s what keeps you going when from the outside looking in, the decision appears foolish.

So, I’m looking for PEOPLE to invest in. People with PASSION.

I’d like to clarify this answer somewhat. Passion needn’t be centered around a product or service. Is Richard Branson a passionate guy? Hell yeah. But hang on, you might say, Virgin is involved in multiple business sectors. That’s exactly my point! This is a businessman who is passionate about business. Heck, I’m passionate about business. I’m passionate about multiple businesses, about doing the deals, about negotiating, structuring and so forth. I love business… Period. I’m not necessarily passionate about that latest product launch. However, I AM passionate about the business case for the product launch!


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Russia Weaponizes The Arctic: Will Build 13 Airfields And 10 Radar Stations To Meet “Unwelcome Guests”

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Two weeks ago, Sweden was gripped by a ludicrous panic when it dispatched virtually its entire army, navy and airforce to hunt down what according to eyewitness reports (subsequently proven to be false) was a Russian sub that had broken down somewhere close to Stockholm. There was no sub. However, one angle that made the story plausible were rumors of a recent surge to Russian military transports and support units to the Artcic, in a scramble to defend its vast natural resource deposits located close to the North Pole. And not surprisingly, this weaponization of the Artic was confirmed two days ago when a senior military commander said that Russia will build at least 13 airfields and 10 radar stations in the Arctic to safeguard the nation’s military security in the region.

As cited by RIA, Lt. Gen. Mikhail Mizintsev, head of the National Defense Management Center said: “We are planning to build 13 airfields, an air-ground firing range, as well as ten radar and vectoring posts.”

The NS 50 Let Pobedy Arktika-class nuclear-powered icebreaker
sails in the Arctic Ocean

Why the sudden rush to defend its national interests in this odd, cold place? Simple: this is Moscow’s in-kind response to a comparable scramble by the Qatar-Saudi Arabia-US triangle as they do all they can to promote the “Syrian passage”, allowing transit of Qatari nat gas into Europe, a gambit which for now has failed.

A number of political, economic and military measures have been taken over the past few years to protect Russia’s interests in the Arctic amid NATO’s increased focus on the region.

 

In April, President Vladimir Putin said that Russia would build a unified network of military facilities on its Arctic territories to host troops, advanced warships and aircraft as part of a plan to boost protection of the country’s interests and borders in the region.

 

Over the past few years, Russia has been pressing ahead with efforts aimed at the development of its Arctic territories, including hydrocarbon production and development of the Northern Sea Route, which is gaining importance as an alternative to traditional routes from Europe to Asia.

Russia is no longer even hiding why it is pushing with the weaponization of the Arctic: “By next
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How Long Can The Shale Revolution Last?

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Nick Cunningham via OilPrice.com,

A new study has cast serious doubt on whether the much-ballyhooed U.S. shale oil and gas revolution has long-term staying power.

The U.S. produced 8.5 million barrels of oil per day in July of this year — 60 percent more than just three years earlier. That is also the highest rate of production in three decades.

Put another way, since 2011, the U.S. has added 3 million barrels per day in additional capacity to global supplies. Had that volume not come online, oil prices would surely be much higher than they currently are.

That has “revolutionized” the energy industry and geopolitics, as scores of energy analysts have claimed. The Energy Information Administration (EIA) forecasts that U.S. oil production will hit 9.6 million barrels per day (bpd) in 2019, and gradually decline to 7.5 million bpd by 2040.

This would allow the U.S. to be one of the world’s top oil producers for an extended period of time. With such an achievement now at hand, many analysts are predicting an era of American dominance in geopolitics. For example, in an op-ed on Oct. 20, columnist Joe Nocera considered a “world without OPEC,” in which U.S. oil production soon kills off the oil cartel.

Or consider this rather triumphalist piece in Foreign Affairs from earlier this year, where two former National Security Council members who worked under President George W. Bush boasted that the recent surge in oil production “should help put to rest declinist thinking” and “sharpen the instruments of U.S. statecraft.” In the following issue, Ed Morse of Citibank went further. “Despite its doubters and haters, the shale revolution in oil and gas production is here to stay,” he declared.

But a new report throws cold water on the thinking that U.S. shale production will be around for the long haul. The Post Carbon Institute conducted an analysis of the top seven oil and top seven natural gas plays, which together account for 89 percent of current shale oil production and 88 percent of shale gas production.

 

The report found that both shale oil and shale gas production will peak before 2020. More importantly, the report’s author, David Hughes, says oil production will decline much more quickly than the EIA…
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Algos Please Ignore: Citi Slashes Previously Reported Net Income Due To “Legal Investigations” Over FX Rigging Probe

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

UPDATE:

  • *CITIGROUP SAYS DOJ, CFTC, OTHERS PROBING CITI’S FOREX BUSINESS
  • *CITIGROUP SAYS IT’S FULLY COOPERATING WITH PROBES, INQUIRIES

From 10-Q: Foreign Exchange Matters

Regulatory Actions: Government and regulatory agencies in the U.S., including the Antitrust Division and the Criminal Division of the Department of Justice and the Commodity Futures Trading Commission, as well as agencies in other jurisdictions, including the U.K. Financial Conduct Authority and the Swiss Competition Commission, are conducting investigations or making inquiries regarding Citigroup’s foreign exchange business.

 

Citigroup is fully cooperating with these and related investigations and inquiries.

Nothing to see here move along:

  • *CITIGROUP ADJUSTS 3Q DOWN ON $600M INCREASE IN LEGAL ACCRUAL
  • *CITIGROUP FINL IMPACT LOWERS CITI’S 3Q ’14 NET  TO $2.8B FROM $3.45B
  • *CITIGROUP CITES REGULATORY INQUIRIES & INVESTIGATIONS

When did company earnings become like GDP: first release is highest, second is lower, third lowest? Aren’t you glad you bailed this trustful people out?

Citi Statement:

Citi announced today that it is adjusting downward its third quarter 2014 financial results, from those reported on October 14, 2014, due to a $600 million increase in legal accruals.

 

The increase resulted from rapidly-evolving regulatory inquiries and investigations, including very recent communications with certain regulatory agencies related to previously-disclosed matters.

 

The financial impact lowers Citi’s third quarter 2014 net income from $3.4 billion to $2.8 billion.

 

 

And this happened…

 

As a gentle reminder…






Broken Stocks, Battered Bullion, & Bruised Crude

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

If a broken window is good for the Keynesian economy, then today's broken market (worse than the 2013 Nasdaq blackout) was certainly good for stocks as exchanges broke left and right, futures volume exploded and S&P almost hit 2,000 all on the back of a 2-week old headline from Japan. Today's market was volatile… everywhere. Silver and gold were smashed lower (-2.2% & -4.1% on week); US Dollar was pumped higher (+0.5% on the week) but weakened after GDP; Treasury yields unch today, notably flatter on week (30Y unch – almost broke 3.00% today, 5Y +9bps); HY Credit wider in whippy range (+10bps on week). VIX tested to 14 but closed near 15. Stocks end mixed: Trannies -1.2% (worst in a week), Nasdaq unch, Dow +1.1% (V +145 of Dow's 220pts). Post-FOMC – Energy is down 1%, Utes/Healthcare +1.6%.

 

Despite broken markets and old headlines, the ramp to 2,000 failed… and stocks roundtripped on the breakage before a late meltup

Post-FOMC, Trannies are red…

 

Post-FOMC, Healthcare and Utilities are th ebig winners, Energy the losers…

 

Trannies weak today, Dow strong on Visa…

 

VIX ended under 15…

 

Credit remains notably less impressed with things this week than stocks…

 

Now where have we seen this decoupling before?

 

Treasury yields closed the day unchanged to very marginally higher – but notably flatter on the week… notable vol intraday around GDP

 

The USD extended its post-FOMC gains led by JPY weakness… not that after GDP data hit, USD sold off

 

Commodities were sold today with gold and silver clubbed like baby seals…

 

With silver down 5% post-FOMC and gold and crude down 2% (WTI around $81)

 

Charts:Bloomberg





3 Things Worth Thinking About

Courtesy of Lance Roberts via STA Wealth Management,

QE Is Dead, But Likely Not Gone

As I wrote on Monday, the end of quantitative easing (QE) has come. While it was announced during Janet Yellen's post FOMC meeting press conference on Wednesday, the last official permanent open market operation (POMO) was this past Monday.

The question that remains to be answered is whether the economy and the financial markets are strong enough to stand on their own this time? The last two times that QE has ended the economy slid towards negative growth and the markets suffered rather severe corrections as shown in the chart below.

 QE-GDP-SP500-103014-2

Asset prices have a coincident effect with the starting and ending of QE programs. As liquidity is extracted from the markets, the propulsion of asset prices has faded. The economy, not surprisingly, lags changes in monetary interventions as the decline in asset prices eroded consumer confidence that weighed on growth.

As I discussed recently, the Fed's ongoing QE programs have had little effect on the real economy. While the liquidity push drove asset prices higher, only the small percentage of the economy with assets to invest received a benefit.

"While the ongoing interventions by the Federal Reserve have certainly boosted asset prices higher, the only real accomplishment has been a widening of the wealth gap between the top 10% of individuals that have dollars invested in the financial markets and everyone else. What monetary interventions have failed to accomplish is an increase in production to foster higher levels of economic activity.

 

With the average American still living well beyond their means, the reality is that economic growth will remain mired at lower levels as savings continue to be diverted from productive investment into debt service. The issue, of course, is not just a central theme to the U.S. but to the global economy as well. After five years of excessive monetary interventions, global debt levels have yet to be resolved."

Alan Greenspan recently reiterated this point in a WSJ Report:

“'Effective demand is dead in the water' and the effort to boost it via bond buying 'has not worked. Boosting asset prices, however, has been


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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

Markets Explodes As Bank Of Japan Goes All-In-er; Increases QQE To JPY 80 Trillion

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

UPDATE: *NIKKEI 225 EXTENDS ADVANCE TO 5%

NKY is up 1000 points from FOMC

 

 

 

and what do u expect to happen to JGBs when Stocks rip 1000 points... yep they're rallying!

  • Yield on 10-yr govt bond declines 3.5 bps to 0.435%, while 20-yr yield also slides 3.5bps to 1.285%, both lowest since April 2013.
  • 5-yr yield f...


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Phil's Favorites

Looking for a Good Education at a Low Price, Perhaps Free? Head to Europe

Courtesy of Mish.

On June 7, 2014 I wrote Looking to Drastically Reduce College Costs? Study Abroad!

Yesterday, a writer for the Washington Post expressed the same opinion.

Please consider 7 countries where Americans can study at universities, in English, for free (or almost free). Since 1985, U.S. college costs have surged by about 500 percent, and tuition fees keep rising. In Germany, they've done the opposite.

The country's universities have been tuition-free since the beginning of October, when Lower Saxony became the last ...



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Chart School

Moving Averages: Month-End Preview

Courtesy of Doug Short.

Here is a preview of the monthly moving averages I track after the close of the last business day of the month. All three S&P 500 strategies are now signaling "invested" -- unchanged from last month. Two of the five of the Ivy Portfolio ETFs, the PowerShares DB Commodity Index Tracking (DBC and the Vanguard FTSE All-World ex-US ETF (VEU), are signal cash "cash" -- also unchanged from last month.

If a position is less than 2% from a signal, it is highlighted in yellow.


Note: My inclusion of the S&P 500 index updates is intended to illustrate a popular moving moving-average timing strategy. The index signals also give a general sense of how US equities are behaving. Howe...



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All About Trends

Mid-Day Update

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

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Insider Scoop

Jennings Capital Downgrades Ballard Power Systems

Courtesy of Benzinga.

Related BLDP Lake View: Ballard Power Systems 'Making Progress' Morning Market Movers

Jennings Capital downgraded Ballard Power Systems Inc. (NASDAQ: BLDP) in a report issued Thursday from Buy to Hold and lowered its price target from $5 to $3.

Analyst Dev Bhangui noted that the company "reported Q3/14 results that were below our and consensus estimates. EPS were ($0.02) versus JCI and consensus of ($0.01). Revenue and gross margin m...



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Sabrient

Sector Detector: Bullish conviction returns, but market likely to consolidate its V-bottom

Courtesy of Sabrient Systems and Gradient Analytics

Bulls showed renewed backbone last week and drew a line in the sand for the bears, buying with gusto into weakness as I suggested they would. After all, this was the buying opportunity they had been waiting for. As if on cue, the start of the World Series launched the rapid market reversal and recovery. However, there is little chance that the rally will go straight up. Volatility is back, and I would look for prices to consolidate at this level before making an attempt to go higher. I still question whether the S&P 500 will ultimately achieve a new high before year end.

In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based SectorCast rankings of the ten U.S. business sectors, and then o...



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OpTrader

Swing trading portfolio - week of October 27th, 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. Enjoy!

(As usual, use your PSW user name and password to sign in. You may also take a free trial.) 

 

#455292918 / gettyimages.com

 

...

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Market Shadows

Bill Ackman's Big Pharma Trade Is Making Wall Street A Super Awkward Place

 

#452525522 / gettyimages.com

Intro by Ilene

If you're following Valeant's proposed takeover (or merger) of Allergan and the lawsuit by Allergan against Valeant and notorious hedge fund manager William Ackman, for insider trading this is a must-read article. 

Linette Lopez describes the roles played by key Wall Street hedge fund owners--Jim Chanos, John Paulson, and Mason Morfit, a major shareholder in Valeant. Linette goes through the con...



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Option Review

LUV Options Active Ahead Of Earnings

There is lots of action in Southwest Airlines Co. November expiry call options today ahead of the air carrier’s third-quarter earnings report prior to the opening bell on Thursday. Among the large block trades initiated throughout the trading session, there appears to be at least one options market participant establishing a call spread in far out of the money options. It looks like the trader purchased a 4,000-lot Nov 37/39 call spread at a net premium of $0.40 apiece. The trade makes money if shares in Southwest rally 9.0% over the current price of $34.32 to exceed the effective breakeven point at $37.40, with maximum potential profits of $1.60 per contract available in the event that shares jump more than 13% to $39.00 by expiration. In September, the stock tou...



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Digital Currencies

Goodbye War On Drugs, Hello Libertarian Utopia. Dominic Frisby's Bitcoin: The Future of Money?

Courtesy of John Rubino.

Now that bitcoin has subsided from speculative bubble to functioning currency (see the price chart below), it’s safe for non-speculators to explore the whole “cryptocurrency” thing. So…is bitcoin or one of its growing list of competitors a useful addition to the average person’s array of bank accounts and credit cards — or is it a replacement for most of those things? And how does one make this transition?

With his usual excellent timing, London-based financial writer/actor/stand-up comic Dominic Frisby has just released Bitcoin: The Future of Money? in which he explains all this in terms most readers will have no tr...



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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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About Phil:

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

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About Ilene:

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

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