Archive for the ‘Crypto Corner – Bitcoin, ETC’ Category

I bought my first Bitcoin

 

I bought my first Bitcoin

Courtesy of 

So you are now free to dump all of your crypto-currencies because this surely marks an all-time top.

But I thought I’d mention it anyway.

For those who are curious about why and how, I’ll just say the following…

I’m old enough to realize that just because I don’t see a use for something, that doesn’t mean I won’t be proven wrong by others who do. At the current moment, I don’t see the financial industry use for Bitcoin other than some marginal activities like settling commodity trades that are very far divorced from my day to day existence. I understand the benefits of these things – the blockchain acting as verification that the counterparty has made payment instantly, etc. I’ve probably read all the stuff that you have. I’m skeptical.

I also think it’s hard to imagine the IRS, Treasury etc allowing anonymous transactions without any reporting becoming a global standard for US persons.

But I’m willing to look beyond that because the goddamn thing won’t go away. I was talking with Justin Paterno (StockTwits) the other day and his attitude toward it is pretty much where I am – “Anytime something just refuses to die, you probably have to pay attention to it.” Bitcoin, if it were complete and utter nonsense, probably should have died already. But 7 years since it burst into the public consciousness – with all of the attendant volatility and criminal activity you’d expect to come along with something so new and unproven – and it’s still here. Despite the hacking and stealing and malfunctions and crashes, it’s still a thing. It’s the f***ing rooster. Ain’t found a way to kill me yet…

Anyway, I’m not a disruption hippie or an early adopter or a visionary or an evangelist. But I’m too curious to not experience Bitcoin ownership for myself. Oh, by the way, I don’t see myself trading it on price swings, more on that in a second.

So I used Coinbase, which from what I gather is the “safe” way to buy, sell and store. We’ll see. I began with a…
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Bill Miller Says He’s Invested 1% Of His Net Worth In Bitcoin

Courtesy of ZeroHedge. View original post here.

Former Legg Mason investing guru Bill Miller’s Opportunity Trust is back on top this year thanks to bets on a hodgepodge of stocks including Apple Inc., J.P Morgan Chase & Co. and Restoration Hardware. Just weeks after his Opportunity Trust was named No. 1 among diversified funds with at least $1 billion in assets, Forbes is out with a glowing profile of the 67-year-old value investor. In it, Miller makes a surprising claim – one that, if accurate, could very well help restore his legacy after a spotty string of years. Back in 2014, Miller said he invested 1% of his net worth in bitcoin. Forbes neglected to reveal Miller’s net worth, though it claimed that Miller is looking at a 1,000% return.

Indeed, it looks like Miller is once again having an investing “moment,” finding relief after a decade of returns ranging from lukewarm to disastrous. His winning streak began after Miller last year ended a 35-year relationship with Baltimore’s Legg Mason, buying out the company’s stake in three funds.

Here's Forbes:

“Indeed, Miller still has a keen eye for change. In 2014, he put 1% of his net worth into Bitcoin, judging that the digital currency's potential for large-scale economic disruption (see Forbes' cover story on the coin revolution) outweighed the risk of a total loss. He's up nearly tenfold, and Bitcoin is now a top holding of his hedge fund.”

Miller’s Opportunity fund, a mutual fund that doesn't hold any bitcoin, is also having a stellar year thanks in large part to Miller’s purchase of Apple call options with a strike price of $100. Miller also has a large stake in Amazon that has performed well this year. Miller told Forbes he expects the e-commerce giant's market cap to rise five- or sixfold within a decade. A handful of the fund's top-performing picks are detailed in this chart:

Of course, there’s a reason why Miller can take risks like betting on bitcoin: He’s the largest investor in each of his funs, leaving him free to think “big thoughts,” according to Forbes.

“…[This] past February, Miller completed the buyout of a partnership he had formed with


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The blockchain could have better security than the banks

 

The blockchain could have better security than the banks

Courtesy of Timothy McCallumUniversity of Southern Queensland and Luke van der LaanUniversity of Southern Queensland

File 20170714 14242 1tcyehh

Voice authentication technology could be used to increase blockchain security. Merrill College of Journalism/flickr, CC BY-NC-SA

There are ways to improve the online ledger blockchain by taking some security notes from banks. If people could use both two-step verification and spending limits on the blockchain, this would reduce any economic loss from cyber attacks and in turn encourage more users.

The blockchain is a global network of computers that run the same blockchain software. Transactions on the blockchain are currently limitless and there is no one governing body. Introducing security measures could demonstrate a level of predictability in the blockchain that could build more trust.

At the moment there are third-party sites that perform transactions with the blockchain on your behalf. They are owned and managed separately from the blockchain itself, and this presents a single point of failure.

These sites, like Kraken, Changelly and Shapeshift, allow people to purchase, as well as exchange, blockchain assets. Activity on these sites includes purchasing Bitcoin with US dollars or exchanging Bitcoin for Ethereum assets.

Current flaws in the system

The blockchain ecosystem is by no means perfect. Many people shy away from using it due to its perceived volatility. There is no “code of conduct” protocol for the blockchain at the moment and it’s likely there never will be.

In addition, creating and maintaining blockchain software is arduous and managed by only a few people globally. These software developers, who are the trailblazers of this technology, are being disadvantaged by constantly being forced to respond to malicious attacks.

There have been many malicious attacks on the blockchain including the very recent attack on a third-party online wallet. In this attack, an unknown user was able to hijack the third-party site and redirect all transactions to their account.

These and other malicious attacks have made blockchain assets either temporarily unavailable or permanently unrecoverable. It’s for these reasons that the solution to secure the blockchain can’t be owned and managed by third-parties,…
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Bitcoin Battered Below $2000, Ether Tumbles As August 1st Scaling Deadline Looms

Courtesy of ZeroHedge. View original post here.

It's another ugly day in cryptocurrency land. As anxiety over the looming 'civil war' deadline of August 1st grows, so it appears the entire virtual currency space is being derisked, with Bitcoin down over 10% today (below $2000) and Ether down 6% (at around $175).

As Bloomberg reports, it’s time for bitcoin traders to batten down the hatches.

The notoriously volatile cryptocurrency, whose 160 percent surge this year has captivated everyone from Wall Street bankers to Chinese grandmothers, could be headed for one of its most turbulent stretches yet.

Blame the bitcoin civil war. After two years of largely behind-the-scenes bickering, rival factions of computer whizzes who play key roles in bitcoin’s upkeep are poised to adopt two competing software updates at the end of the month. That has raised the possibility that bitcoin will split in two, an unprecedented event that would send shockwaves through the $41 billion market.

While both sides have big incentives to reach a consensus, bitcoin’s lack of a central authority has made compromise difficult. Even professional traders who’ve followed the dispute’s twists and turns aren’t sure how it will all pan out. Their advice: brace for volatility and be ready to act fast once a clear outcome emerges.

“It’s a high-stakes game of chicken,” said Arthur Hayes, a former market maker at Citigroup Inc. who now runs BitMEX, a bitcoin derivatives venue in Hong Kong. “If you’re a trader, there’s a lot of uncertainty as to what happens. Once there’s a definitive signal about what will be done, the price could move very quickly.”

Once again it is the so-called 'civil war' that is weighing on the entire virtual currency space as we noted previously, behind the conflict is an ideological split about bitcoin's rightful identity…

Bitcoin is back below $2000 – two month lows…

As CoinTelegraph reports, the knock-on effects for altcoins in the top 10 were as palpable as ever, with Ethereum, Litecoin and others following Bitcoin downhill.

Ethereum has fared particularly badly over the past week, with monthly losses to its market cap now nearly $18 bln.


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Switzerland Opens Door To Bitcoin Asset-Management Business

Courtesy of ZeroHedge. View original post here.

Bitcoin and other cryptos have fallen sharply over the past month in a shakeout that saw some of the early longs decide to take their winnings and walk away. But a 20% drop from the all-time highs hasn’t done much to temper wealthy investors interest in bitcoin and other cryptocurrencies as alternative investments potentially worthy of diversification. And with the Greyscale Bitcoin Investment Trust still trading at a ridiculous premium, and the chances of the SEC approving a bitcoin ETF in the US looking increasingly remote, it’s unsurprising that “private wealth managers” and trying to scoop up wealthy customes who have expressed an interest in bitcoin.

But while regulators in the US and in many other part of the developed world have been hesitant to embrace bitcoin, Switzerland may have just given the world's private-wealth specialists the opening they needed.

According to Reuters, private bank Falcon announced Wednesday that it would immediately begin storing and trading bitcoins on behalf of its wealthy customers via the bank's cash holdings, a move that signals the traction the virtual currency is gaining even in slow-changing asset management.

The decision follows the CFTC's approval last week of the first bitcoin Swap Execution Facility in the US, which opened the door to centrally-cleared bitcoin options and other derivatives that would make it easier for CTAs and hedge funds to speculate on the cryptocurrency.

Falcon made headlines during the investigation into 1MDB, the Malaysian sovereign wealth fund that was exposed as a private piggy bank by Malaysian Prime Minister Najib Razak. Investigators in Singapore shut down the local units of Switzerland's BSI Bank and Falcon Bank due to failures of money laundering controls and improper conduct by senior management. They also froze millions of dollars in customer assets and charged several private bankers, according to Reuters.

But now the bank, which is partnering with cryptocurrency broker Bitcoin Suisse on the bitcoin asset management project, views its it as a way to change the narrative and help burnish the bank’s suffering brand.

"We are proud to be the first-mover in the Swiss private banking area to provide blockchain asset management for our clients," Arthur Vayloyan,


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CFTC Approves Options Trading In Bitcoin

Courtesy of ZeroHedge. View original post here.

US regulators aren’t yet comfortable with bitcoin ETFs (although a quad-levered S&P ETF is just fine for mom and pop), but apparently options and swaps are another story.

This week, the CFTC took a bold step forward in terms of granting institutional investors access to the bitcoin market, approving the creation of the first SEF or Swap Execution Facility. Previously, traders who wished to place bets in bitcoin derivatives markets were forced to operate in markets that were strictly OTC. But now the agency has issued a registration order to LedgerX, granting it status with the CFTC as a Swap Execution Facility, in the process approving bitcoin options trading.

SEFs are platforms for swap trading that were created under Dodd-Frank to bring tighter regulatory scrutiny to derivatives markets. By authorizing the first SEF for bitcoin options, the CFTC is effectively clearing the way for institutional traders like hedge funds and CTAs to participate in those markets.

“LedgerX is an institutional trading and clearing platform which has been patiently waiting for full regulatory approval from the CFTC to trade and clear options on bitcoin.

It is now the first federally regulated bitcoin options exchange and clearing house which will list and clear fully-collateralized, physically-settled bitcoin options for the institutional market.

On December 16, 2016, Ledger Holdings and Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Options Exchange, jointly announced that MIH had completed an investment in Ledger Holdings. Early investors in Ledger Holdings include Google Ventures and Lightspeed Venture Partners.”

Back in May, LedgerX closed an $11.4 million series B financing round led by Miami International Holdings Inc. (MIH) and Huiyin Blockchain Venture Investments. In return, MIH received 10-year, exclusive global rights to license equity or fixed income products related to digital currencies developed by LedgerX and to develop its own equity or fixed income derivatives based on such LedgerX products to be listed on MIAX Options and MIAX PEARL, MIH’s second options exchange.

The CFTC's approval is hardly a surprise.

According to CryptocoinsNews reports, the CFTC previously appointed Paul Chou, CEO and founder of


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Wall Street’s Migration To Crypto Continues: Former Bain Manager Opens LatAm Bitcoin Fund

Courtesy of ZeroHedge. View original post here.

It appears a trend is taking shape. Following a former Goldman HFT trader's massive initial coin offering, another Wall Street-er has come to the dark side of virtual currencies. A former senior manager at consulting firm Bain & Company, is launching a Bitcoin fund, providing access to the cryptocurrency to some of the wealthiest families in Latin America.

Announced today, the newly formed Crypto Assets Fund, co-founded by former senior manager at Bain, Roberto Ponce Romay, is helping to raise $50m with the purpose of buying cryptocurrencies for family offices. Revealed exclusively to CoinDesk, Crypto Assets Fund (CAF) will invest directly in bitcoin, ether, zcash, ripple, litecoin and dash. As CoinDesk reports,

The first tranche of the fund, estimated to be valued about $10m, is in the final stages of closing, and is expected to be announced by the end of this month.

In interview, Romay explained that the purpose of the fund was two-fold.

  • First, it was designed to give investors in some of Latin America’s more unstable economies a new way to hedge their investments, and…
  • Second, it was meant to provide the opportunity to safely learn about these new stores of value for possible future investments.

According to Romay, as the fund's investors are becoming increasingly familiar with the crypto-asset class, the CAF could eventually raise new funds that also include tokens sold as part of initial coin offerings, or ICOs.

"This fund is investor driven," said Romay, who is now the director of investment banking boutique, Invermaster. "It is a simple strategy to give access."

"The [investors] wanted to be exposed…"

Investment documents provided to CoinDesk further reveal details about how the British Virgin Islands fund intends to invest capital provided by its limited partners.

Based on previous growth trajectories of CAF’s crypto-assets, the fund lists a minimum target return of 26% per year for three years with an "expected" target return of 71%.

With volatility at record lows across so many asset-classes, is this the beginning of an exodus from Wall Street to Cyber street to take advantage of information-edges and noise?





Standpoint Analyst Sees Bitcoin Hitting $5,000 Next Year, $50,000 Over Next Decade

Courtesy of ZeroHedge. View original post here.

Ecclectic analyst Ronnie Moas, better perhaps known as the one-man show behind Standpoint Research, ventured into the field of cryptocurrencies this morning when, in a note to clients he predicted that Bitcoin will double to $5,000 in 2018 – roughly in line with Goldman's recent bullish outlook which sees Bitcoin rising just shy of $4,000 in a best case scenario - then hit $25,000 to $50,000 in the next decade.

Moas' bullish view – he said he bought “a little bit” of litecoin, bitcoin and ethereum in a Coinbase.com account – is predicated on the assumption that while the broader market could undergo a correction in the near term, over the next decade it has only one way to go:

The cryptocurrency market, if you play it wisely, is actually appreciating at a rapid rate, and even though you missed out on the big move in the last few years, it was a big move off of a very low base and this industry is still in its infancy relative to where it could go in the next 5-10 years.

Moas said he’s “only a bit concerned that there may be a near-term bubble,” but long term, there’s potential to make triple-digit returns.

His logic is simple, and is based on comparative market share:

Bitcoin market cap is now $40 bln and Ethereum is at $20 bln. Looks as though there is legitimacy there. They have run up a lot already, but crypto-currencies are still just 1.00% of Gold ($8 trillion) and 0.10% compared to stocks and cash.

If this is legitimate and crypto-currencies capture 1.0%-1.5% of the stocks and cash market share, then you are looking at a situation where a $100,000 investment today could be worth more than $1,000,000 a few years (or more) down the line.  

Another reason why he is bullish: "I am looking at what the size of this crypto-currency market (~$80 bln) is relative to the ~$8 trillion gold market (1.00%) and the (~$80 trillion) stocks/cash market (0.10%). Many people have gold in their portfolios, and watching what their gold is doing for them is like watching paint dry on the wall. If


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Ex-Goldman HFT Trader Makes Blockchain History Raising $200 Million In Tezos ICO In 4 Days

Courtesy of ZeroHedge. View original post here.

Who needs IPOs when you have blockchain, and a lot of people willing to throw good money, or rather cryptocurrency, after bad something totally unknown.

Presenting the Initial Coin Offering (ICO) for Tezos, a blockchain startup which has tapped a virtually unlimited source of funding, and has raised over $200 million in just four days. Tezos is already the biggest ICO in history and with the sale scheduled to continue for another 8 days, may end up raising over half a billion dollars.

Recently, blockchain startup Block.One hit a record funding, raising around $185 million in the first five days of the crowdsale. Prior to that, another startup, called Bancor, netted nearly $150 million in contributions during the first three hours of its ICO.

What makes Tezos different from a recent surge in similar such offerings, is that this ICO is not based on Ethereum and instead operates on an entirely new blockchain, a "self-amending cryptoledger" that rewards developers who upgrade the network's protocols and allows for "seamless," consensual upgrades of those protocols (read the white paper here for more detail). Which, as Mashable points out, makes it a competitor to Ethereum.

Established by a husband and wife team, Tezos is an independent smart contract system built as an alternative to Ethereum. The platform has been under development over the last three years. Arthur Breitman and Kathleen Breitman used their extensive experience to develop the new blockchain solution.  

And here is another striking fact: Arthur Breitman previously worked at the high frequency trading desk at Goldman Sachs and served as an options market maker at Morgan Stanley. Meanwhile, Kathleen Breitman is a former management associate at Bridgewater. The startup is focused on "transparency, security and governance by consensus as fundamental design goals."

The Tezos tokens, Tezzies or XTZs, can be purchased with both Bitcoin and Ethereum, and as of this morning, there is no scarcity of demand: Tezos has already raised 53,575 BTC and 273,838 ETH, for a total of approximately $210 million at current prices. This already makes the Tezos ICO the largest in history (overshadowing the recent Bancor ICO, which raised $153 million). It may also


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Goldman Sees Bitcoin Soaring As High As $3,915 During Next Breakout

Courtesy of ZeroHedge. View original post here.

Last week former Fortress principal Michael Novogratz made headlines in the cryptocurrency world when he told attendees at the CB Insights Future of Fintech conference that he has cut holdings (in Bitcoin and Ethereum) after the cryptocurrencies' latest "spectacular run," warning that "Euthereum had likely hit its highs for the year," and "cryptocurrencies were likely the biggest bubble of his lifetime."

His caution was understandable: after all during a 2013 UBS conference, Novogratz said "put a little money in Bitcoin…Come back in a few years and it’s going to be worth a lot." We doubt even he knew how right he would end up being.

However, while his latest sentiment appears rather downbeat, Novogratz said he remained very "positively constructive" on the space overall, as he should: he still has 10% of his net worth invested in the sector. And, as Bloomberg reported, Novogratz says cryptocurrencies "could be worth north of $5 trillion in five years – if the industry can come out of the shadows."

So fast forward to Sunday evening Goldman's chief technician, Sheba Jafari, issued only his second forecast of where bitcoin is headed next which may accelerate Novogratz' crypto price target.

Recall, that as we first reported three weeks ago, Jafari said that "due to popular demand, it’s worth taking a quick look at Bitcoin here" and warned that "the market has come close (enough?) to reaching its extended (2.618) target for a 3rd of V-waves from the inception low at 3,134." She concluded that she was "wary of a near-term top ahead of 3,134" and urged clients to "consider re-establishing bullish exposure between 2,330 and no lower than 1,915."

She was right: on the very day his note came out, both bitcoin and ethereum hit their all time highs and shortly after suffered their biggest drop in over two years.

So what does Jafari thinks will happen next? According to the Goldman technician, Bitcoin is now "in wave IV of a sequence that started at the late-’10/early-’11 lows. Wave III came close enough to reaching its 2.618 extended target at 3,135. Wave IV has already retraced between 23.6% and 38.2% of


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Zero Hedge

Greece Brain Drain: 33% Of Unemployed Looking For Jobs Abroad Vs 11% In 2015

Courtesy of ZeroHedge. View original post here.

Authored by Mike Shedlock via MishTalk.com,

The  Unemployment Rate in Greece is down to 21.7% in April from a record 27.9% in July of 2013 and a record low of 7.3% in May of 2008.

Despite th...



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Phil's Favorites

It's All Happening

How long will this go on? Actually, go ahead and make your prediction in the comments. 

It’s All Happening

Courtesy of

“There are decades where nothing happens; and there are weeks where decades happen.” -Vladimir Lenin

U.S. stocks made zero progress in the seventeen months from October 2014 to January 2016. And in the seventeen months since the February lows, here’s how the following indexes have performed.

S&P 500 +36%

NASDAQ 100 +52%

Russell 2000 +52%

What’s happened in the last seventeen ...



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Insider Scoop

Earnings Scheduled For July 20, 2017

Courtesy of Benzinga.

Companies Reporting Before The Bell
  • PPG Industries, Inc. (NYSE: PPG) is projected to report quarterly earnings at $1.85 per share on revenue of $3.97 billion.
  • Philip Morris International Inc. (NYSE: PM) is expected to report quarterly earnings at $1.23 per share on revenue of $7.09 billion.
  • Union Pacific Corporatio...


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ValueWalk

UBS MD Supports New TCFD Proposal Supports Deforestation Risk Mitigation

By Gabriel Thoumi, CFA, FRM. Originally published at ValueWalk.

As written by Chain Reaction Research, on June 29, the Financial Stability Board Task Force on Climate-Related Financial Disclosures (TCFD) published their final report including key recommendations for the Agriculture, Food and Forest Products sector. The Financial Stability Board (FSB) monitors and makes recommendations about the global financial system with FSB members including all G20 economies, the Euro...



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Chart School

Small Caps Breakout

Courtesy of Declan.

It has taken a few days for Small Caps to make their move but today was the day the Russell 2000 joined other indices in mounting a breakout. It was a clean breakout supported by positive technical strength - putting to bed the June 'bull trap'. Watch for the second round of stop-whips with an intraday move (and recovery) below 1,430.


Other indices added to their breakouts. The S&P gapped and pushed on, backed by higher volume accumulation. Watch for a tag of upper channel resistance.

...

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Members' Corner

Why we need to act on climate change now

 

Why we need to act on climate change now

Interview with Jan Dash PhD, by Ilene Carrie, Editor at Phil’s Stock World

Jan Dash PhD is a physicist, an expert at quantitative finance and risk management, and a consultant at Bloomberg LP. In his thought-provoking book, Quantitative Finance and Risk Management, A Physicist's Approach, Jan devotes a chapter to climate change and its long-term systemic risk. In this article, Ilene interviews Jan regarding his thoughts on climate change and the way it can affect our futu...



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Digital Currencies

I bought my first Bitcoin

 

I bought my first Bitcoin

Courtesy of 

So you are now free to dump all of your crypto-currencies because this surely marks an all-time top.

But I thought I’d mention it anyway.

For those who are curious about why and how, I’ll just say the following…

I’m old enough to realize that just because I don’t see a use for something, that doesn’t mean I won’t be proven wrong by others who do. At the current moment, I don’t see the financial industry use for Bitcoin other than some marginal activities like settling commodity trades that are very far divorced from my day to day existence. I understand the bene...



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OpTrader

swing trading portfolio - week of July 17th, 2017

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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Biotech

Immunotherapy: Training the body to fight cancer

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

 

Immunotherapy: Training the body to fight cancer

Courtesy of Balveen KaurThe Ohio State University and Pravin KaumayaThe Ohio State University

An oral squamous cancer cell (white) being attacked by two T cells (red), part of a natural immune response. ...



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Mapping The Market

The App Economy Will Be Worth $6 Trillion in Five Years

Courtesy of Jean-Luc

This would be excellent news for AAPL and GOOG to a lesser extent although not inconsequential:

The App Economy Will Be Worth $6 Trillion in Five Years 

In five years, the app economy will be worth $6.3 trillion, up from $1.3 trillion last year, according to a report released today by app measurement company App Annie. What explains the growth? More people are spending more time and -- crucially -- more money in apps. While on average people aren't downloading many more apps, App Annie expects global app usership to nearly double to 6.3 billion people in the next five years while the time spent in apps will more than double. And, it expects the...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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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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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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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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