Archive for the ‘Phil’s Favorites’ Category

Puerto Greek-o

 

Puerto Greek-o

Courtesy of 

A few things…

The twin debt blow-ups in Greece and Puerto Rico have absolutely captivated the market’s attention this week, despite the fact that they’ve been ongoing issues for years and years now.

The Greek crisis is like a barber shop – everyone gets to talk all the sh*t they want but at the end of the day, someone’s getting a haircut.

As for Puerto Rico, it is an island nation with 3 million or so residents and over $70 billion in face-value debt, or 8 times the amount of outstanding debt as Detroit. The White House has already denied that it is considering a bailout (so, does that mean they probably are?). Long story short, they’re publicly admitting they can’t pay it. Hopefully you’re not a UBS wealth management client who’s been shoehorned into Puerto Rican munis because they’re “triple tax free.” No free lunches. And besides, guess who was the biggest underwriter of PR debt? Read this for yourself, you won’t even believe it.

China’s 20% stock market thrashing isn’t helping, but bear in mind that it’s happening after a gain of 120% in about a year’s time. If the statisticians want to classify Shanghai / Shenzhen as being “in bear market territory”, they’re welcome to do so. Just use a mental asterisk when you hear it.

The S&P 500 hasn’t had a 5% correction so far in 2015 and the last time it’s been down close to 10% from a peak was last October, when ISIS was rapidly expanding across the Middle East and a doctor came home from West Africa, rode the subway and went bowling in Brooklyn, then checked himself into Ebola quarantine.

Panicky sellers were forgiven for mashing the sell button then just as they are now.

If we’re going to get our first real correction in a long time and the proximate cause is going to be Greece, then so be it. I’d rather it be that than the onset of a recession. Because panics based on Greece do not threaten to bring recession to America and recessions are behind every bear


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Grantham: “People respond to the incentives they’re given”

 

Grantham: “People respond to the incentives they’re given”

Courtesy of The Reformed Broker,

The Mutual Fund Observer has a wrap-up of the Morningstar Conference in Chicago, including this bit about how Jeremy Grantham looks at the buyback binge:

Grantham argues that capitalism is failing for now. He blames the rise of “stock option culture” and a complicit U.S. fed for the problem. Up to 80% of executive compensation now flows from stock options, which are tied to short-term performance of a company’s stock rather than long-term performance of the company. People respond to the incentives they’re given, so managers tend toward those actions which increase the value of their stock options. Investing in the company is slow, uncertain and risky, and so capital expenditures (“capex”) by publicly-traded firms is falling. Buying back stock (overpriced or not) and issuing dividends is quick, clean and safe, and so that sort of financial engineering expands. Interest rates at or near zero even encourage the issuance of debt to fund buybacks (“Peter, meet Paul”). It would be possible to constrain the exercise of options, but we choose not to. And so firms are not moving capital into new ventures or into improving existing capabilities which, in the short run, continues to underwrite record profit margins.

Head over to MFO for the rest of their recap if, like me, you weren’t able to be in Chicago this time…

Source:

Mutual Fund Observer July Newsletter

 





The U.S. Dollar’s 2014-2015 Rally: Wave 3 in Action

 

The U.S. Dollar's 2014-2015 Rally: Wave 3 in Action 

[Excerpt from a free 14-page report shows you how the Elliott Wave Principle can "Boost Your Forex Success"]

By Elliott Wave International

I always say trading forex markets is like riding a bike — except that said bike has one flat tire and the ground beneath it is covered in ice.

So why are they so popular, you might ask? In fact, forex is the most liquid market on earth, where trillions of dollars change millions of hands every day.

The reason people are so willing to ride that bike — so to speak — is because if you can stay on, the rewards are often unmatched. The trick, of course, is staying on.

There's no such thing as a fool-proof strategy. Slips and scrapes are bound to happen. But as the title of Elliott Wave International's chief currency strategist Jim Martens' go-to guide reveals, there is definitely a way "The Elliott Wave Principle Can Boost Your Forex Success."

Here below, you can read an exclusive excerpt from Chapter 1:

Chapter 1: A Useful Trading Methodology

Of the many ways the Wave Principle can improve trading success, for me, points 1, 2, and 6 are the most important. I like to trade with the trend, and the Wave Principle allows me to identify that trend…

The setup waves — the waves we're trying to identify in order to prepare for the trading opportunities — are wave (2), wave (4), and wave (B)…

Let's concentrate on trading wave (3), since it is usually the strongest and longest wave, and its trend is clear. That means that we want to identify the wave (2) that will lead into a strong third wave.

Now, let's jump off the page and into the real world where you can see exactly how Jim used this one simple lesson to identify a major turning point in euro/dollar (EURUSD).

The time was mid-2014. The euro was orbiting a 2-and-1/2 year high against the U.S. dollar. But, as early as mid-May, Elliott wave patterns already showed…
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China’s Stock Market Rollercoaster Ride Continues

 

China's Stock Market Rollercoaster Ride Continues 

By Elliott Wave International

"Chao gu" is the Chinese term for speculating in stocks. Roughly translated, it means "stir-frying" shares. Lately, though, for millions of Chinese investors, it means getting fried.

Enter the "nerve-shredding," "whiplash-inducing," rollercoaster "tantrum" of China's stock market. After soaring to 7-year highs on June 12, both the Shanghai Composite and Shenzhen stock indexes collapsed in a respective 21% and 25% sell-off (as of June 30), frequently marked by wrenching intraday swings the likes of which haven't been seen in 20 years.

In the words of one June 28 news source (bold added):

"You have to have a very strong stomach to trade in China. You have to be prepared for days when you are up or down more than 5% and there is no clear fundamental explanation." (FinanceAsia)

In fact, not only isn't there a bearish fundamental explanation for the market rout, but those fundamentals widely seen as bullish for stocks have also failed to stem the slide. Take, for instance, these recent stock-boosting initiatives on the part of the People's Bank of China:

  • A .25% cut to both its 1-year lending and deposit rates
  • A decrease in banks' reserve requirements to loosen the lending spigot
  • The first-ever approval of local government pensions to buy stocks 

That China's stock market shrugged off these (and other) supposedly bullish catalysts hasn't gone unnoticed. In the words of one Chinese investor, these moves imply "the stock market is kidnapping the government." (The Globe & Mail, June 30)

Well, he's sort of right. The moves imply the government is not in control of the market. Actually, on June 5, our own Asian-Pacific Financial Forecast expressed this exact sentiment and wrote:

"China's current bull market is not a product of government stimulus or of investor ignorance or — as a prominent short-seller told CNBC this week — 'the largest pump-and-dump in history.' "(Bloomberg, 6/1/15).

So, what is it a product of? Well, our Asian-Pacific Financial Forecast provides this Elliott wave explanation:

"Actually, it's the initial wave within China's wave V up, which followed the end of


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The Wizard of Oz and the Case for a Later Liftoff

Connecting the Dots: The Wizard of Oz and the Case for a Later Liftoff

By Tony Sagami

2006.

The last time the Federal Reserve raised interest rates was way back in June of 2006. Moreover, the Fed has kept interest rates near 0% since 2008.

But after the June 17 FOMC meeting, just about everybody—and I mean everybody—is assuming that the Federal Reserve will raise interest rates later this year.

The Fed has been so convincing that the market sees a 34% probability for a rate hike by September and an overwhelming 88% probability for a rate hike before or in December.

Heck, even Fed Chairperson Janet Yellen has said that she expects the Fed to raise rates in 2015.

Frankly, I don’t trust the Fed to do anything right, so my prediction is that Janet Yellen and her Fed buddies should not and will not raise interest rates this year.

Hey, I’m not the only person who thinks so.

The International Monetary Fund (IMF) says the FOMC better not raise interest rates this year. The IMF urged the Federal Reserve to delay a rate increase because of a still-struggling US economy and warned of “significant uncertainties as to the future resilience of economic growth.”

IMF Chairperson Christine Lagarde didn’t pull any punches:

“Higher US policy rates could still result in a significant and abrupt rebalancing of international portfolios with market volatility and financial stability consequences that go well beyond US borders.”

“Asset price volatility could last more than just a few days and have larger-than-anticipated negative effects on financial conditions, growth, labor markets, and inflation outcomes.”

“We think that there is a case for waiting to raise rates until there are more tangible signs of wage or price inflation than are currently evident. So, in other words, we believe that a rate hike would be better off in early 2016.”

The IMF sees a very different world than the Federal Reserve, though.

Fed-Speak: The Fed reiterated in its most recent policy statement that it needs to be “reasonably confident” that inflation will move back up to…
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News You Can Use From Phil’s Stock World

 

Financial Markets and Economy

Labor Market Runs in Place; More Jobs, Participation Lowest Since 1977 (Business Insider)

The U.S. labor market took one step forward and one back in June as job creation advanced while wages stagnated and the size of the labor force receded.

The addition of 223,000 jobs followed a 254,000 increase in the prior month that was less than previously estimated, a Labor Department report showed Thursday in Washington. The jobless rate fell to a seven-year low of 5.3 percent as people left the workforce.

Goldman: "Greece Will Remain In Euro Even If It Votes No", And How Markets Will React (Zero Hedge)

The time to negotiate the Greek referendum this Sunday has come and gone and at this point, one can only sit and wait as the vote results start trickling in on Sunday evening. And, as Goldman's Huw Pill prudently observes, the outcome of Sunday's Greek referendum is uncertain. "Regardless of the outcome, Greece will continue to face substantial economic dislocation in the shorter term." What is interesting is that Goldman says "Greece will ultimately remain in the Euro area even in the event of a ‘No’ vote."

Truthiness Meter Chart O’ Da Month- Wage and Hour Division (Lee Adler, Wall Street Examiner)

What else is there to do with the insane people spewing Wall Street conventional wisdom on CNBC and the pages of the Wall Street Journal but to ridicule them as the fools and shills they are?

Average Weekly Earnings Growth Downtrend- Click to enlarge

Average Weekly Earnings Growth Downtrend

British house price growth is at a two-year low (Business Insider)

British property price growth is now at a two-year low.

Nationwide revealed in its latest House Price Index that property prices in June fell by 0.2% from the previous month to reach £195,055 ($304,315). In June 2014, house prices stood at £188,903 ($294,751). This means annual house price growth moderated to 3.3% in June, from 4.6% in May.

nationwide

Athens on the Potomac (Ricochet)

Financial experts in New York,


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Pilot Pulls Wrong Throttle, Kills 43; Tennessee Train Crash Releases Toxic Fumes, 5,000 Evacuated; Robot-Preventable Accidents

Courtesy of Mish.

Improper training of a Taiwan pilot took the lives of 43 people in February. In a report just released, the pilot’s last recorded words were “wow, pulled back the wrong side throttle“.

Please consider TransAsia Crash Pilot Pulled Wrong Throttle, Shut Down Sole Working Engine.

The captain of a TransAsia Airways ATR mistakenly switched off the plane’s only working engine seconds before it crashed in February, killing 43 people, Taiwan’s Aviation Safety Council (ASC) said in its latest report on Thursday.

The ASC’s report also showed that Captain Liao Jian-zong, who was at the controls, had failed simulator training in May 2014, in part because he had insufficient knowledge of how to deal with an engine flame-out on take-off.

“Wow, pulled back the wrong side throttle,” Liao, 41, was heard to say on voice recordings seconds before the crash.

There appeared to be confusion in the cockpit as the two captains tried to regain control of the plane after the other engine lost power about three minutes into the doomed flight.

Robots the Solution

  • There is no way a robot would have pulled the wrong throttle.
  • There is no way a robot would have flown planes into the twin towers on 911.
  • There is no way a robot would have Purposely Crashed Germanwings Flight 9525 killing all 150 people.

Don’t email me with security issues because I am 100% confident that any security issues related to software hijacking etc. can easily be solved  

Gratefully, there are not that many plane crashes, but every time they do happen, I keep asking “Why?”

The same question applies to trains, even more so. There have been several major train crashes in recent years. 

An autopilot never would have crashed any of the above planes and would have surely prevented many spectacular train crashes as well. Yet there is no discussion of how to use technology to prevent disasters like these.

While looking up train crashes (preceding link), I noticed this report from just eight hours ago: 5,000 Evacuated in Tennessee After Train Crash Releases Toxic Fumes.



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The Coming Era Of Pension Poverty

Courtesy of Charles Hugh-Smith Of Two Minds

Assuming "growth" will fund all promised pensions and entitlements is magical thinking.

The core problem with pension plans is that the promises were issued without regard for the revenues needed to pay the promises. Lulled by 60 years of global growth since 1945, those in charge of entitlements and publicly funded pensions assumed that "growth"--of GDP, tax revenues, employment and everything else--would always rise faster than the costs of the promised pensions and entitlements.

But due to demographics and a structurally stagnant economy, entitlements and pension costs are rising at a much faster rate than the revenues needed to pay the promised benefits. Two charts (courtesy of Market Daily Briefing) tell the demographic story:

As the 60+ million baby Boom began qualifying for Social Security and Medicare entitlements, the percentage of beneficiaries rose quickly from a decades-long level of about 16% of the total population to 18.5%. This might seem like much, but what's troubling is the steep rise in the number of beneficiaries while the number of full-time workers who pay the vast majority of the income taxes has remained stagnant:

Federal social spending (entitlements) has almost tripled from 5% of GDP to 14% while federal tax revenues/spending have remained range-bound as a percentage of GDP. In other words, social spending is soaring as a percentage of the economy (GDP) while revenues to support that spending are limited by the slow-growing economy and the correlation between high tax rates and recessions.

The other structural headwind is low investment returns in a zero-interest rate global economy. The only way to increase yields is to take on more risk, a strategy that has potentially catastrophic consequences: Pension Funds Are "Compromising Their Solvency" OECD Warns.

Any criticism of rapidly rising public pension costs quickly draws accusations of union-bashing, a favored propaganda technique to divert investigation of blatant abuse of the system. Since I have cousins who have retired from California police and firefighter jobs, I know all the insider games and tricks that many public employees can use to boost their pensions and benefits.

The issue isn't unions, it's the systemic abuse of public trust and public…
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Establishment Survey +233K Jobs, Household Employment Survey -56K, Part-Time Employment +372K, Labor Force -432K

Courtesy of Mish.

Initial Reaction

Today’s job report (for June) once again showed a huge divergence between the household survey and the establishment survey.

Household survey employment fell by 56,000 while the establishment survey shows a gain of 233,000 jobs. The labor force declined by 432,000 and that explains the drop in the unemployment rate to 5.3% from 5.5%.

The report was weaker than it looks due to significant downward revisions in April and May totaling 60,000. May was revised to 254,000 from 280,000 and April to 187,000 from 221,000.

Part-Time Employment +372,000

Of note in the Household Survey, voluntary part-time employment rose by 519,000 while part-time for economic reasons declined by 147,000. That means there is a net increase in part-time employment of 372,000.

BLS Jobs Statistics at a Glance

  • Nonfarm Payroll: +233,000 – Establishment Survey
  • Employment: -56,000 – Household Survey
  • Unemployment: -375,000 – Household Survey
  • Involuntary Part-Time Work: -147,000 – Household Survey
  • Voluntary Part-Time Work: 519,000 – Household Survey
  • Baseline Unemployment Rate: -0.2 to 5.3% – Household Survey
  • U-6 unemployment: -0.3 to 10.5% – Household Survey
  • Civilian Non-institutional Population: +208,000
  • Civilian Labor Force: -432,000 – Household Survey
  • Not in Labor Force: +640,000 – Household Survey
  • Participation Rate: -0.3 to 62.6 – Household Survey

June 2015 Employment Report

Please consider the Bureau of Labor Statistics (BLS) Current Employment Report.

Total nonfarm payroll employment increased by 223,000 in June, and the unemployment rate declined to 5.3 percent. Job gains occurred in professional and business services, health care, retail trade, financial activities, and transportation and warehousing.

Unemployment Rate – Seasonally Adjusted



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The Perfect Storm: Greece and the Euro in Crisis and Chinese Stocks Crumbling

Courtesy of Pam Martens.

European Central Bank President, Mario Draghi

European Central Bank President, Mario Draghi

When Mario Draghi, President of the European Central Bank, famously said on July 26, 2012 that he would do “whatever it takes” to save the Euro, apparently providing a life line to Greece wasn’t part of the “whatever.” That has a lot of investors and heads of state worried: what else might not be part of his pledge? Would a financial crisis in Portugal, Spain or Italy also not be part of doing whatever it takes? It’s beginning to sound like there’s a monetary cap on doing whatever it takes.

This is the exact quote from Draghi’s speech on July 26, 2012:

“And so we view this, and I do not think we are unbiased observers, we think the euro is irreversible. And it’s not an empty word now, because I preceded saying exactly what actions have been made, are being made to make it irreversible. But there is another message I want to tell you. Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.”

There’s no question about the critical need for financial help in Greece. It’s GDP has fallen by 25 percent over the past five years; its unemployment is over 25 percent with youth unemployment near 50 percent. And to onlookers around the world watching the cash rationing scenes at the banks in Greece unfold on television, it looks like Draghi’s promise is an empty one.

The situation is so dire that even Pope Francis has asked Catholics worldwide to pray for the Greek people.  A man in Britain has raised over 1.4 million Euros to help Greece from more than 82,000 people on the crowd funding web site, Indiegogo.

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Zero Hedge

How Greece Has Fallen Victim To "Economic Hit Men"

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

"Greece is being 'hit', there's no doubt about it," exclaims John Perkins, author of Confessions of an Economic Hit Man, noting that "[Indebted countries] become servants to what I call the corporatocracy ... today we have a global empire, and it's not an American empire. It's not a national empire... It's a corporate empire, and the big corporations rule."

Via Truth-Out.org,

John Perkins, author of Confessions of an Economic Hit Man, discusses how Greece and o...



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Phil's Favorites

Puerto Greek-o

 

Puerto Greek-o

Courtesy of 

A few things…

The twin debt blow-ups in Greece and Puerto Rico have absolutely captivated the market’s attention this week, despite the fact that they’ve been ongoing issues for years and years now.

The Greek crisis is like a barber shop – everyone gets to talk all the sh*t they want but at the end of the day, someone’s getting a haircut.

As for Puerto Rico, it is an island nation with 3 million or so residents and over $70 billion in face-value debt, or 8 times the amount of outstanding debt as Detroit. The White House has already denied that it is considering a bailout (so, does...



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Chart School

Neutral Day

Courtesy of Declan.

After yesterday's gains there was no more gas in the tank to squeeze any more out of the market. Worryingly, the Russell 2000 finished near Monday's lows in a relative loss to S&P and Nasdaq, suggesting bearish leadership will come from speculative Small Caps, and that further losses are likely. The S&P recovered afternoon losses, but the Spinning Top candlestick of today suggests the advance is slowing, and what may be emerging is a 'bear flag'. In the meantime, the index is caught in a no-mans land between resistance and support. ...

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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Labor Market Runs in Place; More Jobs, Participation Lowest Since 1977 (Business Insider)

The U.S. labor market took one step forward and one back in June as job creation advanced while wages stagnated and the size of the labor force receded.

The addition of 223,000 jobs followed a 254,000 increase in the prior month that was less than previously estimated, a Labor Department report showed Thursday in Washington. The jobless rate fell to a seven-year low of 5.3 percent as people left the workforce.

Goldman: "Greece...



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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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Kimble Charting Solutions

Shanghai index creates historic reversal pattern like 2007

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

Much of the attention around the world seems to be revolving around a small country called Greece. What about the most populated country in the world (China), any key messages coming from there of late?

Well another Month, Quarter and Half a year are in the books. With this in mind I wanted to look at Monthly action of the hottest stock market in the world, the Shanghai Index. Above looks at the Shanghai index over the past 25-years. The 100%+ rally over the past year has pushed the Shanghai index up to its 23% Fibonacci ratio and a long-term resistance line, that has been in play for 25-years at (1) above.

As the Shanghai index was hitting this...



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OpTrader

Swing trading portfolio - week of June 29th., 2015

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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Digital Currencies

BitGold Now Available in US! Why BitGold?

Courtesy of Mish.

BitGold USA

Effective today, BitGold Announces Platform Launch in the United States.

BitGold, a platform for savings and payments in gold, is pleased to announce the launch of the BitGold platform for residents of the US and US territories. As of today, US residents can sign up on the BitGold platform and buy, sell, or redeem gold using BitGold’s Aurum payment and settlement technology. US residents will also have access to the BitGold mobile app and a prepaid card when these features launch over the coming weeks. Send and receive gold payment features are not initially available in the US.

About BitGold

...



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Sabrient

Sector Detector: Bulls under the gun to muster troops, while bears lie in wait

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

Courtesy of Sabrient Systems and Gradient Analytics

Two weeks ago, bulls seemed ready to push stocks higher as long-standing support reliably kicked in. But with just one full week to go before the Independence Day holiday week arrives, we will see if bulls can muster some reinforcements and make another run at the May highs. Small caps and NASDAQ are already there, but it is questionable whether those segments can drag along the broader market. To be sure, there is plenty of potential fuel floating around in the form of a friendly Fed and abundant global liquidity seeking the safety and strength of US stocks and bonds. While the technical picture has glimmers of strength, summer bears lie in wait.

In this weekly ...



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Pharmboy

Baxter's Spinoff

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

Baxter Int. (BAX) is splitting off its BioSciences division into a new company called Baxalta. Shares of Baxalta will be given as a tax-free dividend, in the ratio of one to one, to BAX holders on record on June 17, 2015. That means, if you want to receive the Baxalta dividend, you need to buy the stock this week (on or before June 12).

The Baxalta Spinoff

By Ilene with Trevor of Lowenthal Capital Partners and Paul Price

In its recent filing with the SEC, Baxter provides:

“This information statement is being ...



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Mapping The Market

An update on oil proxies

Courtesy of Jean-Luc Saillard

Back in December, I wrote a post on my blog where I compared the performances of various ETFs related to the oil industry. I was looking for the best possible proxy to match the moves of oil prices if you didn't want to play with futures. At the time, I concluded that for medium term trades, USO and the leveraged ETFs UCO and SCO were the most promising. Longer term, broader ETFs like OIH and XLE might make better investment if oil prices do recover to more profitable prices since ETF linked to futures like USO, UCO and SCO do suffer from decay. It also seemed that DIG and DUG could be promising if OIH could recover as it should with the price of oil, but that they don't make a good proxy for the price of oil itself. 

Since...



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Promotions

Watch the Phil Davis Special on Money Talk on BNN TV!

Kim Parlee interviews Phil on Money Talk. Be sure to watch the replays if you missed the show live on Wednesday night (it was recorded on Monday). As usual, Phil provides an excellent program packed with macro analysis, important lessons and trading ideas. ~ Ilene

 

The replay is now available on BNN's website. For the three part series, click on the links below. 

Part 1 is here (discussing the macro outlook for the markets) Part 2 is here. (discussing our main trading strategies) Part 3 is here. (reviewing our pick of th...

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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!




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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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