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Oh Yeah, About That Con Con Con

Oh Yeah, About That Con Con Con

Courtesy of Lee Adler 

As usual, the Conference Board and all the major media press release repeaters put a positive spin on the highest reading of Consumer Confidence (aka the Con Con Con) since October 2007. None of the media echo chamber reports pointed out that October 2007 was the beginning of the worst bear market in US stocks since 1973-74. So I thought it important that the issue be given a little perspective (as I did recently with the Thompson Rhoiders Michigan Con Index).

First things first, the Con Con Con is an amalgamation of the results of two survey questions presented to “consumers” (aka real people). One question asks people how they view the current status of the economy, which is useful because most people are capable of seeing the present reasonably accurately. The other question is what they think conditions will be in 6 months, as if anybody knows the answer to that. While real people may be far better at answering that question than Wall Street and academic economists and media echo chamber pundits… I mean really… Ask a stupid question get a stupid answer. So then the Con Con Con takes the useful index of Present Conditions and combines it with a completely stupid index of what people think the future holds, and thereby creates a stupid and useless composite index.

Given that, let’s just focus on the one measure that might be meaningful, the Present Conditions index. The chart created by Briefing.com, with a little technical analysis and annotations added by yours truly, gives us that which is missing in the media echo chamber reporting… perspective. The graph speaks for itself. The long term trend is down. Note that the index is based on the average reading in 1985 being 100. The peak reading of around 185 was reached at the end of the tech bubble. Another peak around 140 was reached at the top of the housing bubble, when virtually everybody had a home equity ATM. The current reading remains below the 1985 average at about half the peak level.

Perspective on the Con Con Com – Click to enlarge

The trend reflects the decline in standard of living that an increasing number…
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Whopping 35% Have Debt in Collection! Delinquent Debt in America: By Region and Metro Area, Where Is?

Courtesy of Mish.

The Urban Institute has an interesting 14-page synopsis on Delinquent Debt in America.

By percentage, the number of people in collections is largely concentrated in the South, while amount owed shows no geographic pattern. The Urban Institute uses 2013 credit bureau data from TransUnion to measure how many Americans are reported as at least 30 days late, not including late payment of mortgages. The institute also examines how many Americans have debt in collections and the amount of this debt.

In order to have credit card debt, one first must have credit. However, some without traditional credit show up as delinquent on account of late utility, medical, or other bills.

The key general finding is: Of those with credit files, an astonishing 35% have debt in collections.

Study Synopsis

  • 5.3% (Roughly 1 out of 20) of people with a credit file are at least 30 days late on a credit card or other non-mortgage account (e.g., automobile loan, student loan). In other words, they have debt that has been reported as past due to the credit bureau.
  • The share of people with debt past due ranges from 4.6% in the West, North Central, and Middle Atlantic divisions to 7.5% in the West South Central division.
  • Three states have less than 4% of the population with debt past due: Utah, Washington, and New Jersey. 
  • Three states have more than 7% of the population with debt past due: Louisiana, Texas, and Mississippi.
  • Nearly 40% of the high-concentration census tracts in the country are in Louisiana or Texas.
  • Areas with lower household incomes have more people with debt past due, but the correlation is only -0.3. So, while income matters, the concentration of delinquent debt is not simply an income story.
  • Of those with credit files, an alarming 35% have debt in collections.
  • Debt in collection ranges less than $25 to more than $125,000. The average amount owed in collections is $5,178.
  • Nevada, which was hard hit by the housing crisis, tops the list of past-due states: 47% of people with a credit file in Nevada have reported debt in collections. The District of Columbia and an additional 12 states (11 in the South) are over the 40 percent mark: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, New Mexico, North Carolina, South Carolina, Texas,


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Whopping 35% Have Debt in Collection! Delinquent Debt in America: By Region and Metro Area, Where Is It?

Courtesy of Mish.

The Urban Institute has an interesting 14-page synopsis on Delinquent Debt in America.

By percentage, the number of people in collections is largely concentrated in the South, while amount owed shows no geographic pattern. The Urban Institute uses 2013 credit bureau data from TransUnion to measure how many Americans are reported as at least 30 days late, not including late payment of mortgages. The institute also examines how many Americans have debt in collections and the amount of this debt.

In order to have credit card debt, one first must have credit. However, some without traditional credit show up as delinquent on account of late utility, medical, or other bills.

The key general finding is: Of those with credit files, an astonishing 35% have debt in collections.

Study Synopsis

  • 5.3% (Roughly 1 out of 20) of people with a credit file are at least 30 days late on a credit card or other non-mortgage account (e.g., automobile loan, student loan). In other words, they have debt that has been reported as past due to the credit bureau.
  • The share of people with debt past due ranges from 4.6% in the West, North Central, and Middle Atlantic divisions to 7.5% in the West South Central division.
  • Three states have less than 4% of the population with debt past due: Utah, Washington, and New Jersey. 
  • Three states have more than 7% of the population with debt past due: Louisiana, Texas, and Mississippi.
  • Nearly 40% of the high-concentration census tracts in the country are in Louisiana or Texas.
  • Areas with lower household incomes have more people with debt past due, but the correlation is only -0.3. So, while income matters, the concentration of delinquent debt is not simply an income story.
  • Of those with credit files, an alarming 35% have debt in collections.
  • Debt in collection ranges less than $25 to more than $125,000. The average amount owed in collections is $5,178.
  • Nevada, which was hard hit by the housing crisis, tops the list of past-due states: 47% of people with a credit file in Nevada have reported debt in collections. The District of Columbia and an additional 12 states (11 in the South) are over the 40 percent mark: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, New Mexico, North Carolina, South Carolina, Texas,


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Zillow + Trulia and the Big Coverup

Stocklemon of Citron discusses the potential merger of the internet real estate companies Zillow and Trulia and the problems they face. ~ Ilene 

Zuliagate – The Big Secret: Citron Exposes What the Press Has Ignored

Courtesy of Citron Reports 

The stock market and the real estate industry are all abuzz about the possible merger of Zillow (NASDAQ:Z) and Trulia (NASDAQ:TRLA). The media is now filled with stories proclaiming that the combined company will instantly become an internet advertising juggernaut that wields pricing power over the entire internet real estate industry.  

You cannot read a single article or analyst commentary that doesn’t invoke the magic phrase “Pricing Power”. Without the slightest thought whatsoever, the combination of Zillow and Trulia is supposed to give the combined entity the power to triple ad revenue from real estate agents. Nothing could be further from the truth – and we have the proof. 

Click for the Full Story You Won't Read Anywhere Else

 





Deadbeat Nation: A Shocking 77 Million Americans Face Debt Collectors

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

We have been warning for years that as a result of the Fed's disastrous policies, America's middle class is being disintegrated and US adults are surviving only thanks to insurmountable debtloads. But not even we had an appreciation of how serious the problem truly was. We now know, and it is a shocker: according to new research by the Urban Institute, about 77 million Americans have a debt in collections.

The breakdown by region:

As the Washington Post reports, that amounts to 35 percent of consumers with credit files or data reported to a major credit bureau, according to the study released Tuesday by the Urban Institute and Encore Capital Group's Consumer Credit Research Institute. "It’s a stunning number," said Caroline Ratcliffe, senior fellow at the Urban Institute and author of the report. "And it threads through nearly all communities."

More:

The report analyzed 2013 credit data from TransUnion to calculate how many Americans were falling behind on their bills. It looked at how many people had non-mortgage bills, such as credit card bills, child support payments and medical bills, that are so past due that the account has since been closed and placed in collections.

Researchers relied on a random sample of 7 million people with data reported to the credit bureaus in 2013 to estimate what share of the 220 million Americans with credit files have debts in collection. About 22 million low-income adults who did not have credit files were not represented in the study.

While we understand why someone owing tens if not hundreds of thousands can just do what the US government does so well, and simply decide to stop paying their debt (if unlike the government, without the option to roll it), what is scary is that there are people who are in collection on amount as tiny as $25.

The debts sent to collections ranged from $25 on the low end and to more than $125,000 on the high end. Many consumers were burned for relatively small amounts — about 10 percent of the debts were smaller than $125,


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Housing Prices Did NOT Decline In May as Case Shiller Reported and Are Still Running Hot

Housing Prices Did NOT Decline In May as Case Shiller Reported and Are Still Running Hot

Courtesy of Lee Adler 

I won’t go into the specifics of the worst housing indicator in the world, released today and dutifully spewed by the world’s mainstream financial infomercial outlets. If you want to pick through that type of garbage, go read the Wall Street Journal or Bloomberg or watch CNBC. You can get the irrelevant and misleading data on US housing prices there.

Presented as a public service, here’s a review of a several housing price indicators which are timely and are not smoothed and lagged to the point of silliness as the Case Shiller Index is. They show that as of right now, the US housing price bubble continues to inflate, in spite of weak demand.

First let’s look at a couple of real time or near real time indicators of the housing trend, DepartmentofNumbers.com’s real time listing prices for late July, and Redfin’s real time contract prices from June. Before you complain that listing prices aren’t sale prices, the fact is that since this data has been published in 2006, the subsequently released lagging data on actual sale prices has shown that the trend of listing prices has been absolutely accurate in showing the direction of US housing prices in real time. Naturally, they are higher than sale prices, but they trend in the same direction and turn at the same points in time. The lagged data reported by various organizations differ in only one material respect. They’re lagged. Listings data is real time. It accurately shows what the market is doing right now, which is starting the usual seasonal second half pullback that begins every year in late summer, while continuing the powerful uptrend track it has been on.

US Home Sale Prices - Click to enlarge

US Home Sale Prices

The DepartmentofNumbers.com’s data represents real time listing prices collected from 54 of the largest markets in the US. Redfin collects all contract prices in real time in the 19 large markets it serves. Their sample is skewed by the fact that Redfin serves only large, active, desirable markets, and therefore it overstates price increases relative to the nation as a whole, but again, its direction has proven to be accurate. If the prices of 19 large,…
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Debt Rattle Jul 29 2014: There’s A War Going On Already In Europe

Courtesy of The Automatic Earth.


Arthur Rothstein Elm Street, Theater Row, Dallas Jan 1942

I don’t think it’s ever a good sign, no matter how funny it may look, when the US state Department makes one think of Monty Python. But it does. With a Silly Claims instead of Silly Walks department. Would these people really sit around a big table in the evening and brainstorm about what anti-Russia statement to feed to the press the next morning? What else could possibly be going on here? I mean, just look at this bit from the New York Times:

US Says Russia Tested Cruise Missile, Violating Treaty

The United States has concluded that Russia violated a landmark arms control treaty by testing a prohibited ground-launched cruise missile, according to senior American officials, a finding that was conveyed by President Obama to President Vladimir V. Putin of Russia in a letter on Monday. It is the most serious allegation of an arms control treaty violation that the Obama administration has leveled against Russia [..]

At the heart of the issue is the 1987 treaty that bans American and Russian ground-launched ballistic or cruise missiles capable of flying 300 to 3,400 miles. That accord, which was signed by President Ronald Reagan and Mikhail S. Gorbachev, the Soviet leader, helped seal the end of the Cold War and has been regarded as a cornerstone of American-Russian arms control efforts.

Russia first began testing the cruise missiles as early as 2008, according to American officials, and the Obama administration concluded by the end of 2011 that they were a compliance concern. In May 2013, Rose Gottemoeller, the State Department’s senior arms control official, first raised the possibility of a violation with Russian officials. The New York Times reported in January that American officials had informed the NATO allies that Russia had tested a ground-launched cruise missile [..]

If we are to believe the NYT, Russia started testing the system 6 years ago, it then took the US at least 3 years to ‘conclude’ it was ‘a compliance concern’, another 18 months or so to ‘raise the possibility of a violation with Russian officials’, 8 more months after that to inform NATO – and have the NYT write it up – and another half year…
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Wall Street Journal Reporter: “The Entire United States Market Has Become One Vast Dark Pool”

Courtesy of Pam Martens.

Citigroup, the Bank the U.S. Taxpayer Saved From Insolvency in 2008, Is Operating a Dizzying Array of Dark Trading Pools Today

Citigroup, the Bank the U.S. Taxpayer Saved From Insolvency in 2008, Is Operating a Dizzying Array of Dark Trading Pools Today

In 2012, Wall Street Journal reporter, Scott Patterson, released his 354-page prescient overview of U.S. market structure titled, Dark Pools: High Speed Traders, A.I. Bandits, and the Threat to the Global Financial System. (For those whose computer prowess is limited to turning on a laptop, like millions of fellow Americans, “A.I.” means artificial intelligence – machines teaching themselves to think like humans, but faster.)

Patterson comes to an epiphany on page 339 of his book, writing in the notes section: “The title of this book doesn’t entirely refer to what is technically known in the financial industry as a ‘dark pool.’ Narrowly defined, dark pool refers to a trading venue that masks buy and sell orders from the public market. Rather, I argue in this book that the entire United States stock market has become one vast dark pool. Orders are hidden in every part of the market. And the complex algorithm AI-based trading systems that control the ebb and flow of the market are cloaked in secrecy. Investors – and our esteemed regulators – are entirely in the dark because the market is dark.” (The italics in this excerpt are as they appear in the hardcover book.)

We totally agree with Patterson that U.S. markets are the darkest they have ever been in history – from their early origins in the bright sunlight under the Buttonwood tree at 68 Wall to today’s secretive, unregulated stock exchanges known as dark pools that trade in private across America – the lights have gone out. And as each light has flickered and dimmed, public confidence has drained from the system, leaving it today as the unsafe battlefield of hedge funds, high frequency traders and dark pool operators.

Wall Street and its sycophants began this journey into darkness with their push to run their own private justice system on Wall Street in the 1980s. Called mandatory arbitration, Wall Street was given a green light by the U.S. Supreme Court in its 1987 decision, Shearson/American Express v. McMahon. Since then, cases filed by both customers and employees against Wall Street firms, which could shed critical light and serve as an early warning system on patterns of fraud and…
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Alan “Ace” Greenberg, Rest In Peace

Courtesy of Larry Doyle.

In early 1990 after 7 fabulous years learning the ins and outs of Wall Street while working at The First Boston Corporation, I departed that venerable firm for the rough around the edges ways of Wall Street that defined Bear Stearns. I had been cautioned by some not to make that move. I am glad that I disregarded that advice.

The relationships and business acumen I gained during my 7 years (1990-1997) at “the Bear” made all the difference in the world during my days in those large Wall Street banks.

As with most organizations, the tone and culture that emanates throughout the company is set at the top. In 1990, Bear Stearns was led by Wall Street legend Alan “Ace” Greenberg. Last Friday I felt a real sadness when I learned of his passing. While I have little regard let alone respect for most of the senior level management on Wall Street, Ace Greenberg was different. I held him in the highest regard and had untold respect for him. Why so? Let me count the ways.

Ace was a winner. He cared. He was ultra-competitive but knew that rules were not meant to be broken.

He was a bridge back to the days of Wall Street partnerships when one’s word actually meant something. While many of Wall Street’s most senior executives would stroll or saunter into their offices that were typically larger than most Manhattan apartments, Ace would spend the bulk of his day firmly entrenched at his desk and meaningfully accessible right there on the trading floor.

He was renowned for writing regular memos that went throughout the firm under his pen name of Haimchinkel Malintz Anaynikal. They were absolutely priceless and filled with a simple but precious wisdom that often got lost on Wall Street amidst the sea of egos and sociopaths that ran large parts of the industry.

His writing was collected into a short book entitled Memos from the Chairman.

His direction that paper clips and elastic bands should never be purchased by anybody within the firm because more than enough of these items could be found and saved from the incoming mail went straight to instilling a real discipline around managing expenses.…
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Ukrainians Ordered to War, Women Burn the Military Writs

Courtesy of Mish.

The war in Ukraine is going so well that soldiers are unpaid and men are ordered to serve whether they want to or not.

Hats off to a group of women who confront a Ukrainian soldier and burn military writs right in front of the soldier’s face.

Writ Burning Video

Video link: Ukrainians Burn Writs

Transcript

  • Woman to Ukrainian soldier: Who are you?
  • Soldier: I am the head of the local recruiting center.
  • Woman: Why are you bringing military writs?
  • Soldier: It’s an order from above. I can’t explain all the details but you can read about it on the internet
  • Soldier: When did you get the writs?
  • Very disgruntled woman: Yesterday evening.
  • Another Woman: This one we got recently.
  • Soldier: Yes, we’re sending those to put the potential recruits under control.
  • Yet another woman: We don’t need it. We don’t need any war.
  • Multiple women chime in with the same thing at once about not wanting war.
  • Very disgruntled woman: We’ve been told that the police will handle those who refuse to sign the writs for mobilization. What does that mean?
  • Soldier: It’s an official order for total mobilization.
  • Another woman: We’ve been told those fairy tales many times. They told us those who refuse to go to war will go to jail for 5 years.
  • Soldier: I ask you, did we take anyone to war so far?
  • Woman: When you take someone it will be too late to worry.
  • Another woman: We’ve never been on Maidan. We didn’t touch anyone. We don’t need it.
  • Very angry man gesturing: Take your recruit list and make sure no one will be taken to war.
  • Soldier – finally admitting the truth: They will take your sons anyway.
  • Same angry Man: Who will take them?
  • Soldier: The state
  • Same angry man: We don’t give a damn about your country and your war!
  • Large group gathers writs and sets them on fire.
  • Background conversation: mostly untranslated but also containing We are sickened of the authorities.
  • More background conversation: The authorities flee like rats from a sinking ship, but they come here and take our sons and send them to death. They all made the mess and now they need us to clean it up.
  • Fire takes


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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!

 
 

Insider Scoop

Orbitz Worldwide Annouces Large Stakeholder Will Sell Shares In Public Offering

Courtesy of Benzinga.

Related OWW Morning Market Losers UPDATE: Oppenheimer Initiates Coverage On Orbitz Powerful Proxy Adviser Blasts Target Board Over Breach (Fox Business)

In a press release Wednesday, Orbitz Worldwide (NYSE: OWW) announced its largest stakeholder will sell 20 million shares of the company.

Orbitz released a separate press release stating mostly ...



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Zero Hedge

Former Aide To Bill Clinton Speaks - "My Party Has Lost Its Soul"

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Submitted by Mike Krieger of Liberty Blitzkrieg blog,

One reason we know voters will embrace populism is that they already have. It’s what they thought they were getting with Obama. In 2008 Obama said he’d bail out homeowners, not just banks. He vowed to fight for a public option, raise the minimum wage and clean up Washington. He called whistle-blowers heroes and said he’d bar lobbyists from his staff. He was critical of drones and wary of the use of force to advance American interests. He spoke eloquently of the thr...



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Chart School

The End of QE: Some Common Misunderstandings

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

I have discussed for some time that there are a couple of inherent misunderstandings about the Federal Reserve's ending of the current large-scale asset purchase program (LSAP), or more affectionately known as Quantitative Easing (QE). The first is "tapering is not tightening" and the second is "interest rates will rise." Let me explain.

The Federal Reserve has been running extremely "accommodative" monetary policies since the end 2008. The two primary goals of the Federal Reserve have been to artificially suppress interest rates and boost asset prices in "hopes" that an organic economic recovery would take root. As I quoted in "How E...



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Phil's Favorites

Oh Yeah, About That Con Con Con

Oh Yeah, About That Con Con Con

Courtesy of Lee Adler 

As usual, the Conference Board and all the major media press release repeaters put a positive spin on the highest reading of Consumer Confidence (aka the Con Con Con) since October 2007. None of the media echo chamber reports pointed out that October 2007 was the beginning of the worst bear market in US stocks since 1973-74. So I thought it important that the issue be given a little perspective (as I did recently with the Thompson Rhoiders Michigan Con Index).

First things first, the Con Con Con is an amalgamation of the results of two survey questions presented to “consumers” (aka real people). One question asks...



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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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Option Review

Kellogg Call Options Active Ahead Of Earnings

Shares in packaged foods producer Kellogg Co. (Ticker: K) are in positive territory on Monday afternoon, trading up by roughly 0.20% at $65.48 as of 2:20 p.m. ET. Options volume on the stock is well above average levels today, with around 12,500 contracts traded on the name versus an average daily reading of around 1,700 contracts. Most of the volume is concentrated in September expiry calls, perhaps ahead of the company’s second-quarter earnings report set for release ahead of the opening bell on Thursday. Time and sales data suggests traders are snapping up calls at the Sep 67.5, 70.0 and 72.5 strikes. Volume is heaviest in the Sep 72.5 strike calls, with around 4,600 contracts traded against sizable open interest of approximately 11,800 contracts. It looks like traders paid an average premium of $0.37 per contrac...



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Sabrient

Sector Detector: Bold bulls dare meek bears to take another crack

Courtesy of Sabrient Systems and Gradient Analytics

Once again, stocks have shown some inkling of weakness. But every other time for almost three years running, the bears have failed to pile on and get a real correction in gear. Will this time be different? Bulls are almost daring them to try it, putting forth their best Dirty Harry impression: “Go ahead, make my day.” Despite weak or neutral charts and moderately bullish (at best) sector rankings, the trend is definitely on the side of the bulls, not to mention the bears’ neurotic skittishness about emerging into the sunlight.

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 offer up some actionable trading ideas, incl...



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OpTrader

Swing trading portfolio - week of July 28th, 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 in the comments below each post. 

Our weekly newsletter Stock World Weekly is ready for your enjoyment.

Read about the week ahead, trade ideas from Phil, and more. Please click here and sign in with your PSW user name and password. Or take a free trial.

We appreciate your feedback--please let us know what you think in the comment section below.  

...

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Digital Currencies

BitLicense Part 1 - Can Poorly Thought Out Regulation Drive the US Economy Back into the Dark Ages?

Courtesy of Reggie Middleton.

An Op-Ed piece penned by Veritaseum Chief Contracts Officer, Matt Bogosian

This past weekend (despite American Airlines' best efforts), Reggie and I made it to the Second Annual North American Bitcoin Conference in Chicago. While there were some very creative (and very ambitious) ideas on how to try to realize the disruptive Bitcoin protocol, one of the predominant topics of discussion was New York Superintendent of Financial Services Benjamin Lawsky's proposed Bitcoin regulations (the BitLicense proposal) - percieved by many participants at the event as an apparent ...



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Market Shadows

Danger: Falling Prices

Danger: Falling Prices

By Dr. Paul Price of Market Shadows

 

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

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



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Pharmboy

Biotechs & Bubbles

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

Well PSW Subscribers....I am still here, barely.  From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.

First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices.  Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment.  Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer.  For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...



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Promotions

See Live Demo Of This Google-Like Trade Algorithm

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

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

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

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

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



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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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