Archive for the ‘Topic’ Category

One of the worst things you can do in this business


One of the worst things you can do in this business

Courtesy of Joshua M. Brown, The Reformed Broker

Investing is hard. This is partly because there is no bedrock to stand upon. Historical relationships between valuation and prices are not firm. Nor are the correlations between Thing A and Thing B.

The ground below our feet is constantly shifting and only the open-minded can make the mental leaps from one regime to the next. Those who choose their one or twoMost Important Things to follow religiously and base their views upon (CAPE Ratio, Fed Model, Seasonality, Economic Outlook) are going to find themselves consistently run over in The Street.

One of the worst things you can do in this business is take a given correlation and then extrapolate it out to infinity. Correlations – especially between markets and asset classes – are ephemeral. Sometimes they exist and sometimes they don’t. Sometimes perfectly correlated markets become perfectly inversely correlated.

Think about the stocks / crude oil relationship from earlier this year. Now you see it (and it dominates every day’s discussions), now you don’t (…..and it’s gone).

And no one waves a flag when these relationships are about to shift.

This spring, I posted the below chart – a ratio between emerging market stocks and the S&P 500 vs the US dollar index. You can see how powerful the inverse relationship had been – strong dollar meant weak EM relative to US large caps:


Right after I wrote that, as if on cue, the dollar peaked and then sold off, and EM stocks went crazy to the upside. The relationship held and traders were rewarded for recognizing its power.

Now that’s a trend that seems pretty indefatigable, right?

Except here’s the problem – as too many people become aware of it or start to place their bets on it, the relationship between one thing and the other begins to price all of this “certainty” in. This “common knowledge” then serves to change the relationship or even completely invert it until the prior correlations become unrecognizable.

My friend Jon Krinsky at MKM Partners takes a look at the emerging markets rally – now up almost 20% from the May…
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News You Can Use From Phil’s Stock World


Financial Markets and Economy

The Brexit economy: falling pound and rising inflation fuel fears of slowdown (The Guardian)

The British economy’s post-Brexit vote bounce is losing momentum as the weak pound and higher inflation herald a squeeze in living standards, according to a Guardian analysis.

S&P 500 Skew Unwind Shows Complacency Over Clinton Win: Analysis (Bloomberg)

The U.S. election premium is evaporating from S&P 500 options. Even as the shock Brexit result stays fresh in investors’ minds, SPX term structure is turning relatively smoother with skews declining as opinion polls show Clinton may triumph over Trump, Bloomberg strategist Tanvir Sandhu writes.

Oil is slipping (Business Insider)

Oil is dipping on Monday morning after Iraq signaled it does not want to take part in an OPEC production cut deal.

Bitcoin Jumps to Three-Month High as Yuan Weakness Fuels Buying (Bloomberg)

Bitcoin rose to an almost three-month high amid a surge in volume as the yuan extended a six-year low, bolstering Chinese demand for alternative assets.

Idea Profit Misses Estimates as Data Tariff Cut Amid Competition (Bloomberg)

Idea Cellular Ltd. posted profit that missed analyst estimates as India’s third-largest carrier cut data tariff amid intensifying competition from a rival backed by the country’s richest person.

Brazil's Real Rises as Temer Seeks Support for Spending-Cap Bill (Bloomberg)

Brazil’s real rose to a 10-week high as President Michel Temer canvassed support for a bill to cap spending while a rise in raw-material prices boosted currencies of commodity-producing nations.

Germany is driving the European economy again (Business Insider)

Germany is once again the driving force of the European economy, helping boost composite growth across the continent to a 10-month high, according to the latest PMI data released by Markit on Monday morning.

Why Wall Street doesn't like the AT&T – Time Warner deal (CNN Money)

Now comes the tough part — convincing skeptical investors that the deal won't be the second coming of AOL Time Warner.

This October still has a chance
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Flash Manufacturing Report Shows Strongest Upturn Year, Input Cost Acceleration

Courtesy of Mish.

The Markit US Flash Manufacturing Report shows U.S. manufacturers record strongest upturn in business conditions for 12 months.

The report also shows input cost inflation is the strongest in nearly two years, hiring is subdued, and export growth is weak.


Key Findings

  • Headline PMI rises from 51.5 to 53.2 in October
  • Output and new order growth hit one-year peaks
  • Manufacturers report fastest expansion of input buying since June 2015
  • Input cost inflation accelerates to its strongest for almost two years

Manufacturing production has now increased for five months running, following a slight dip in May. The rate of expansion in October was the fastest for exactly one year. Survey respondents cited an accelerated pace of new business growth and, in some cases, efforts to boost production in anticipation of stronger client demand in the months ahead.

In line with the trend for output volumes, latest data highlighted that incoming new orders picked up at the fastest pace for 12 months. Anecdotal evidence suggested that new product launches and stronger domestic demand had resulted in greater sales volumes. Nonetheless, some firms continued to report delayed decision making among clients, linked to uncertainty ahead of the presidential election.

Meanwhile, new export orders increased only slightly in October, but this was an improvement on the fractional decline seen during the previous survey period. Manufacturers mainly cited strong competition and relatively subdued demand patterns across key global markets.

Higher levels of incoming new work resulted in a greater degree of backlog accumulation across the manufacturing sector during October. The latest rise in unfinished work was the largest for 12 months. Some firms commented on increased capacity pressures at their plants, in part reflecting subdued job hiring in recent months.

Latest data signalled only a moderate rise in payroll numbers, and the rate of expansion was weaker than in September. The latest survey indicated a robust upturn in input buying among manufacturing firms, which was linked to projections of rising demand and associated efforts to boost inventories. Moreover, the increase in purchasing activity was the fastest since June 2015. This contributed to a rise in preproduction stocks for the first time in 11 months. At the same time, finished goods inventories stabilized in October, which ended a four-month period of decline.

Comments From Chris Williamson,

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‘Impossible’ & ‘Inevitable’ – The Only 2 Solutions As The Status Quo Crumbles

Courtesy of Charles Hugh Smith, Of Two Minds

Two charts illustrate Why Our Status Quo Failed and Is Beyond Reform: this chart of the S-Curve of financialization, leverage, debt, central planning, regulatory capture and globalization--that is, the engines of modern "growth"--depicts the inevitable stagnation and decline of these dynamics as overcapacity, debt saturation and diminishing returns take hold.

This chart illustrates the status quo's insistence on doing more of what has failed spectacularly: since all this worked in the boost phase, the central planning Cargo Cult's "leadership" is convinced it will all work magically again, if only we do more of it.

Alas, this is magical thinking. One might as well paint radio dials on rocks and expect the rock to magically turn into a functioning radio.

The chart of the Seneca Cliff illustrates how the S-curve of "growth" can continue expanding even as the foundation weakens. As the foundations of real growth weaken-- productivity, collateral, social mobility, etc.--the system become increasingly fragile and brittle. But this fragility is masked by the appearance of stability until a crisis cracks it wide open.

Normalcy crumbles into instability, and people and systems accustomed to stable supply chains and political stability struggle to maintain their grip on income streams and resources as abundance slips into scarcity and dependence on central planning becomes a liability of learned helplessness.

The S-curve:

Seneca Cliff:

There are two sets of solutions as stability and financialized "growth" slide into instability and DeGrowth.

1. Acquire skills that will be increasingly scarce and a network of collaborators, customers and suppliers who value/make use of these skills.

2. Create a new mode of production that doesn't rely on central banks, states and global finance to function: in effect, a decentralized, localized networked system that exists in parallel with the centralized hierarchies of the current mode of production which is centralized, industrialized, globalized, financialized, neofeudal, neoliberal, neocolonial, and dependent on ever-expanding leverage, debt, central planning, regulatory capture and fossil fuel consumption.

I describe the first set of solutions in my book Get a Job, Build a Real Career and Defy a Bewildering Economy.

The second set of solutions are the subject

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Benzinga’s Top Downgrades

Courtesy of Benzinga.

Benzinga's Top Downgrades

  • Credit Suisse downgraded Time Warner Inc (NYSE: TWX) from Outperform to Neutral. Time Warner shares fell 0.98 percent to $88.60 in pre-market trading.
  • Barclays downgraded Actuant Corporation (NYSE: ATU) from Equal-Weight to Underweight. Actuant shares fell 1.56 percent to $22.15 in pre-market trading.
  • Investec downgraded Royal Bank of Scotland Group PLC (NYSE: RBS) from Hold to Sell. Royal Bank of Scotland shares dropped 0.21 percent to $4.67 in pre-market trading.
  • Mizuho downgraded Teva Pharmaceutical Industries Ltd (ADR) (NYSE: TEVA) from Buy to Neutral. Teva shares fell 0.80 percent to $43.65 in pre-market trading.
  • Analysts at Morgan Stanley downgraded United Rentals, Inc. (NYSE: URI) from Overweight to Equal-Weight. The price target for United Rentals has been lowered from $85 to $81. United Rentals shares rose 0.06 percent to close at $79.18 on Friday.
  • Analysts at Wolfe Research downgraded Entergy Corporation (NYSE: ETR) from Peer Perform to Underperform. Entergy shares fell 0.46 percent to close at $74.17 on Friday.
  • Deutsche Bank downgraded Brown & Brown, Inc. (NYSE: BRO) from Buy to Hold. Brown & Brown shares rose 1.37 percent to close at $37.62 on Friday.
  • Cowen & Co. downgraded AT&T Inc. (NYSE: T) from Outperform to Market Perform. AT&T shares dropped 2.69 percent to $36.48 in pre-market trading.
  • Analysts at H.C. Wainwright downgraded Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) from Buy to Neutral. Vertex Pharmaceuticals shares fell 2.60 percent to close at $80.76 on Friday.
  • Analysts at Bank of America downgraded Electronic Arts Inc. (NASDAQ: EA) from Buy to Neutral. Electronic Arts shares fell 1.77 percent to $81.40 in pre-market trading.

Latest Ratings for TWX

Date Firm Action From To
Oct 2016 Evercore ISI Group Downgrades Buy Neutral
Oct 2016 Atlantic Equities Downgrades Overweight Neutral
Oct 2016 Moffett Nathanson Downgrades Buy Neutral

View More Analyst Ratings for TWX

View the Latest Analyst Ratings

Posted-In: Top DowngradesDowngrades Analyst Ratings

Un-Carrier Is Delivering: T-Mobile Investors Cheer Q3 Results, Outlook

Courtesy of Benzinga.

Un-Carrier Is Delivering: T-Mobile Investors Cheer Q3 Results, Outlook

  • EPS $0.42 vs $0.23 est, up $0.27 year-over-year.
  • Sales $9.2 billion vs $9.42 billion est, up 17.8 percent year-over-year.
  • 2.0 million total net adds in the quarter.
  • Industry leading net adds of 851,000 branded postpaid phone net adds.
  • Company raises and narrows fiscal 2016 guidance.

What Does That Mean For The Company?

T-Mobile US Inc (NASDAQ: TMUS) claimed in its earnings report that it’s the the fastest growing wireless company in America with industry-leading financial growth.

Given the ongoing momentum seen in the company’s third quarter report, management boosted its fiscal 2016 adjusted EBITDA guidance to a range of $10.2-$10.4 billion from a prior range of $9.8-$10.1 billion.

What Does That Mean For The Investor?

T-Mobile’s stock rose more than 4 percent in the pre-market session as the company’s “Un-carrier” strategy continues to disrupt the market and take market share away from its larger competitors.

By comparison, investors were large sellers of Verizon Communications Inc. (NYSE: VZ)’s stock after its mixed third quarter results failed to impress the Street.

“That’s 14 quarters in a row that T-Mobile has won share from the competition,” John Legere, President and CEO of T-Mobile, said in the earnings report. “The Un-carrier is delivering. We took share and grew our customer base while producing both financial growth and shareholder value. Most importantly, we are delivering results for both customers and shareholders alike.”

Posted-In: John Legere T-Mobile T-Mobile EarningsEarnings Long Ideas News Movers Trading Ideas Best of Benzinga

Number of Startup Businesses Continues Lengthy Decline: Is this a Problem?

Courtesy of Mish.

The number of startup businesses continues to slide. In 1977, the share of US firms that were less than a year old was at 16%. In 2014, the latest data, the percentage was 8%.

The Wall Street Journal says Sputtering Startups Weigh on U.S. Economic Growth.

Is that the case?


The U.S. economy is inching along, productivity is flagging and millions of Americans appear locked out of the labor market.

One key factor intertwined with this loss of dynamism: The U.S. is creating startup businesses at historically low rates.

The American economy has long relied on fast-growing young companies to fuel job growth and spread the latest innovations. As recently as the 1980s and 1990s, a small number of young firms disproportionately contributed to U.S. employment growth, helping allocate workers and resources to burgeoning segments of the economy.

But government data shows a decadeslong slowdown in entrepreneurship. The share of private firms less than a year old has dropped from more than 12% during much of the 1980s to only about 8% since 2010. In 2014, the most recent year of data, the startup rate was the second-lowest on record, after 2010, according to Census Bureau figures released last month, so there’s little sign of a postrecession rebound.

The share of employment at such firms, meanwhile, has slipped from nearly 4% to about 2% of private-sector jobs.

While only a few percentage points, the drop translates into hundreds of thousands of companies and jobs. If the U.S. were creating new firms at the same rate as in the 1980s, that would be the equivalent of more than 200,000 companies and 1.8 million jobs a year.

Researchers at the Massachusetts Institute of Technology delved into state business licensing information and found somewhat different but also discouraging results. That is, tech entrepreneurs are generating good ideas and founding companies at a healthy pace, but those ventures aren’t breaking out into successful big companies.

“The system for translating good, high-quality foundings into a growth firm, that system seems to have broken,” said Scott Stern, an MIT professor and co-author of the study on startups.

CB Insights tracked 1,027 tech companies that received seed funding in 2009 and 2010. By the end of 2015, nine—fewer than 1%—reached a value of at least $1 billion, a common measure

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Banker Deaths and WikiLeaks Deaths Have a Common Thread

Courtesy of Pam Martens.

John Jones

John Jones

Julian Assange, founder and Editor-in-Chief of WikiLeaks, is the man responsible for the daily release of emails showing the Hillary Clinton presidential campaign to be an unprecedented machine whose tentacles and snitches reach into Wall Street, big corporations and big media. Earlier this year, WikiLeaks released emails showing that the Democratic National Committee had maliciously conspired to undermine the presidential campaign of Clinton challenger, Senator Bernie Sanders, in order to elevate Hillary Clinton to the top of the ticket.

Now it has emerged that two of the top lawyers representing Assange, John Jones in London and Michael Ratner in New York, died within less than a month of each other this year. And, Assange’s closest confidant in London and a Director of WikiLeaks, Gavin Macfadyen, died just yesterday.

Wall Street On Parade has carefully investigated the similarly unprecedented banker deaths over the past two and one half years. What is noteworthy about the banker deaths is that at the time of the deaths, Wall Street banks and their global brethren were under the largest investigations for criminal rigging of markets to occur in the past century. Even during the Senate investigations of the early 1930s when crooked business journalists touting fraudulent Wall Street stocks and crooked Wall Street bank execs manipulating stock prices were regularly revealed through subpoenaed documents, there was no similar rash of deaths or series of alleged suicides. (See related articles below.)

Now there is WikiLeaks leaking emails and documents that show that the same kind of cartel-like behavior that has corrupted Wall Street to its core has also infested the top of the Democratic Party. And, amazingly, three key members of the Assange/WikiLeaks support network have died within six months of each other this year. The statistical probability of this being a natural occurrence is slim.

The first WikiLeaks lawyer death to occur was on April 18, 2016. John Jones, a 48-year old father of two with a loving wife, was said to have thrown himself in front of a train at West Hampstead Thameslink station in a borough of London. The coroner who conducted the inquest was Mary Hassell, the same coroner who conducted…
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Courtesy of The Automatic Earth.

Inge Morath Street Corner at World’s End London 1954

Over the summer I introduced a two-fold assertion: 1) global economic growth is over (and has been for years and won’t come back for many more years) and 2) the end of growth marks the end of all centralization, including globalization. You can read all about these themes in “Globalization Is Dead, But The Idea Is Not” and “Why There is Trump” There are also extensive quotes of the second essay in wicked former UK MI6 spymaster Alastair Crooke’s “‘End of Growth’ Sparks Wide Discontent”.

When I say ‘the end of growth’, I don’t mean that in a Limits to Growth kind of way, or peak oil or things like that. Not because I seek to invalidate such things, but because I mean economics, finance only. Our economies simply ceased growing, and quite a few years ago. The only reason that is not, and very widely, recognized is the $21 trillion and change that central banks have conjured up ostensibly to kickstart a recovery that always remains just around the corner.

That those $21 trillion will have massive negative effects on all of us is not my point either right now. Just that growth is gone. And that’s hard enough to swallow for a system that’s based uniquely on that growth. That is what this ‘essay’ is about: what consequences that will have.

All that said, I don’t have the idea that too many people are willing to accept the notion of the end of eternal economic growth (let alone right this minute), nor of globalization’s demise. Which may be partially understandable, but not more than that. Instead, quite a few people may honestly feel that the end of growth will make ‘leaders’ try for more, not less, centralization/globalization, but that, if it happens, is temporary. Unless, as I wrote earlier, we see dictators in the west.

Because, as I said in those articles, the overbearing principle is, and must be, that when centralized power ceases to deliver benefits to people, they will no longer accept that decisions about their – ever poorer- lives are taken by people hundreds or thousands of miles away from where they live. People allow that only when they reap sufficient benefits from it. With growth…
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The Boredom Before The Storm

Courtesy of John Rubino.

With all the surprising and/or disturbing things going on – Brexit, China’s soaring debt, US/Russia/China saber rattling, the, um, unique US presidential race, the cyber attack that shut down big parts of the US Internet – you’d think that an unsettled world would be reflected in skittish financial markets.

Instead we’re getting the opposite, with stock price movements becoming more and more placid as the year goes on. The following chart shows the volatility index (VIX) for the S&P 500 which, after some notable action in 2008 and 2011, has become ever-calmer, with recent readings comparable to the (in retrospect delusional) levels of 2006, just before the biggest financial crisis since the Great Depression.


What’s going on?

First, during credit bubbles volatility normally contracts because enough new money is being created to provide pretty much everything with a bid. In other words, all the new liquidity being created by desperate governments has to go somewhere, so dips get bought before they can become dramatic and traders accept the placid present as the new normal.

Second, we’re in an election year and the people currently in charge badly want their chosen candidates to win. So government spending is rising dramatically. The federal deficit is up 17% so far this year, but jumped 67% in August. This burst of new borrowing has given the economy its current “all is well, stay the course” gloss. A bit more on this from MarketWatch:

U.S. runs $107 billion budget deficit in August, Treasury says

The federal government ran a budget deficit of $107 billion in August, the Treasury Department said Tuesday, $43 billion more than in August 2015.

The government spent $338 billion last month, up 23% from the same month a year ago. Spending rose notably for veterans’ programs and Medicare, Treasury said.

For the fiscal year so far, the budget deficit is up 17%. The government’s fiscal year runs from October through September. The Congressional Budget Office estimates the shortfall for fiscal 2016 will be $590 billion, or about $152 billion more than last year.

And what does it mean?

The current financial market insouciance is no more sustainable than that of 2006 because it’s caused by temporary factors that can’t continue without themselves causing turmoil. Debt, for instance, can’t grow relative to GDP forever…

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Phil's Favorites

One of the worst things you can do in this business


One of the worst things you can do in this business

Courtesy of Joshua M. Brown, The Reformed Broker

Investing is hard. This is partly because there is no bedrock to stand upon. Historical relationships between valuation and prices are not firm. Nor are the correlations between Thing A and Thing B.

The ground below our feet is constantly shifting and only the open-minded can make the mental leaps from one regime to the next. Those who choose their one or twoMost Important Things to follow religiously and base their views upon (CAPE Ratio, Fed Model, Seasonality, Economic Outlook) are going to find themselves consistently run over in The Street.

One of the wors...

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Regulators Are Going After Short-Term Loans

By The Foundation for Economic Education. Originally published at ValueWalk.

In June, the Consumer Financial Protection Bureau (CFPB) put forward a proposal to heavily regulate the short-term loans industry. The Small Dollar Lending Rule seeks to “alleviate and solve” for the “apparent weaknesses” of the current rates and short-term lenders by requiring “lenders to assess and verify a borrower’s income, housing costs, and credit and legal obligations.”

Photo by 401(K) 2013 ...

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Zero Hedge

Geert Wilders And The End Of Justice In The Netherlands

Courtesy of ZeroHedge. View original post here.

Submitted by Judith Bergmann via The Gatestone Institute,

  • It is deeply troubling that the court already before the criminal trial has even begun, so obviously compromises its own impartiality and objectivity. Are other European courts also quietly submitting to jihadist values of curtailing free speech and "inconvenient" political views?
  • If you are a politician and concerned about the future welfare of your country, you should be able to discuss the pertinent issues of the day, including problems with im...

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Market News

News You Can Use From Phil's Stock World


Financial Markets and Economy

The Brexit economy: falling pound and rising inflation fuel fears of slowdown (The Guardian)

The British economy’s post-Brexit vote bounce is losing momentum as the weak pound and higher inflation herald a squeeze in living standards, according to a Guardian analysis.

S&P 500 Skew Unwind Shows Complacency Over Clinton Win: Analysis (Bloomberg)


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Swing trading portfolio - week of October 24th,2016

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


This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...

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Kimble Charting Solutions

Banks- This is putting a smile on this sector

Courtesy of Chris Kimble.

Historically, when strong bull markets have taken place, Banks go along for the ride. Since the summer of 2014, banks have under performed the broad market by around 12%, as the S&P is just a couple of percent from all-time highs. Are banks about to act healthier and put a smile on this sector, which could help the S&P breakout above the 2,150 level?

Below looks at the Bank Index (BKX)



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Chart School

Weekly Market Recap Oct 23, 2016

Courtesy of Blain.

The week that was…

A sleepy week indeed as almost all the “action” came out of a gap up Tuesday morning and a gap down Friday morning (which was met with buyers).  Outside of those events, the indexes stuck closely to unchanged most of the week.  Earnings began in earnest but outside of some individual high profile stories it was a lot of beating lowered expectations.

“Despite a couple of good reports, we’re in the midst of another earnings season that is hardly painting a bright picture,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott. “Having another quarter where profits contract is not an underpinning for stocks to advance, and the market is searching for, if not demanding, a catalyst to move higher. At the moment, one is lackin...

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Members' Corner

The Orlando Massacre Part 3

Courtesy of Nattering Naybob.

A continuation of a Naybob of IT's Natterings from Part 1 and Part 2...

While many Christian churches expressed grief and offered free funeral services for the victims of the Orlando shooting, the fundamentalist Westboro Baptist Church held an anti-gay protest during the funeral of the victims.

But the Westboro Baptist Church's protest rally was blocked by about 200 people who formed a human barricade on the main street in downtown Orlando, ...

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Mapping The Market

The Most Overlooked Trait of Investing Success

Via Jean-Luc

Good article on investing success:

The Most Overlooked Trait of Investing Success

By Morgan Housel

There is a reason no Berkshire Hathaway investor chides Buffett when the company has a bad quarter. It’s because Buffett has so thoroughly convinced his investors that it’s pointless to try to navigate around 90-day intervals. He’s done that by writing incredibly lucid letters to investors for the last 50 years, communicating in easy-to-understand language at annual meetings, and speaking on TV in ways that someone with no investing experience can grasp.

Yes, Buffett runs an amazing investment company. But he also runs an amazing investor company. One of the most underappreciated part of his s...

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Digital Currencies

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

Courtesy of ZeroHedge. View original post here.

By Jan Skoyles

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


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Epizyme - A Waiting Game

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

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

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

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

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All About Trends

Mid-Day Update

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

Click here for the full report.

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

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PSW is more than just stock talk!


We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more! features the most important and most interesting news items from around the web, all day, every day!

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

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

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FeedTheBull - Top Stock market and Finance Sites

About Phil:

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

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About Ilene:

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

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