Archive for the ‘Phil’s Favorites’ Category

First Quarter GDP Second Estimate 1.2 Percent: Mish vs. Consensus

Courtesy of Mish.

This morning, the BEA revised its estimate of first-quarter GDP to 1.2% from 0.7%. The Econoday consensus estimate was 0.8%, in a range of 0.7% to 1.0%.

I posted this tweet ahead of the report.

The Econoday consensus estimate for 2nd GDP estimate is 0.8%. For a change, I am higher at 1.1% due to construction. I see no 2nd Q bounce.

— Mike Mish Shedlock (@MishGEA) May 26, 2017

I was higher than any Econoday economist’s estimate, yet they call me a pessimist.

Econoday Comments

First-quarter GDP gets a small but much-needed upgrade, now at a 1.2 percent rate of annualized growth which is nearly double the advance estimate. The gain is centered where it is best, in consumer spending where the rate did double to 0.6 percent. This is still slow but is an improvement with durable goods, at minus 1.4 percent, showing less contraction and services showing greater growth, at 0.8 percent.

Boosted by strong and sudden acceleration in both structures and equipment, nonresidential fixed investment is also upgraded, to 11.4 percent for a 2 percentage point gain. Government purchases are also upgraded, down 1.1 percent for a 6 tenths improvement that pulls less on GDP. Other readings are stable with a slowing build in inventories still a major negative (a negative for GDP but not for the second-quarter outlook).

But the second-quarter outlook, which was once very positive, is mostly in question following a run of weak data for April including this morning’s durable goods report. And the first-quarter is a little less of an easy comparison now for the second quarter where early estimates, once as high as 3 and 4 percent, have been coming down to the 2 percent area.

GDP 2013-2107

GDP Second Estimate Revisions

Gross Domestic Income


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Trump-Russia Inquiry Looks at Potential for Wall Street Bank Money Laundering

Courtesy of Pam Martens

Senator Sherrod Brown Demands Answers from Treasury Secretary Steven Mnuchin at Senate Hearing, May 18, 2017

Senator Sherrod Brown Demands Answers from Treasury Secretary Steven Mnuchin at Senate Hearing, May 18, 2017

The majority of American citizens have never heard of the U.S. Treasury agency known as FinCEN – short for Financial Crimes Enforcement Network. But for those who work for Wall Street brokerage firms or the mega Wall Street banks like JPMorgan Chase, Citigroup or German banking giant Deutsche Bank, just the mere mention of FinCEN can quickly produce beads of sweat dripping onto those expensive Canali suits. That’s because FinCEN is the Federal agency where suspicious financial activity that might turn out to be money laundering gets reported. All three banks, and numerous others, have had their share of scandalous run ins with money laundering.

In recent weeks, the U.S. Senate Banking Committee, Senate Intelligence Committee and the House of Representatives Financial Services Committee have all shown an interest in what FinCEN might have in its database that would shed sunshine on involvement of the Trump business empire or Trump campaign and Russian money inflows.

Senator Sherrod Brown, the Ranking Member of the Senate Banking Committee, sent a letter on March 2 to U.S. Treasury Secretary Steven Mnuchin, asking for documents and explaining his rationale as follows:

“…Russia has been subjected to a number of international and US sanctions, as have many prominent Russian leaders and business people. Investors from Russia have, in the past, played a significant role in the Trump organization. example, President Trump’s son Donald Trump Jr. stated at a conference in 2008 that President Trump’s businesses involved substantial Russian investments. He reportedly said: ‘And in terms of high-end product influx into the US, Russians make up a pretty disproportionate cross-section of a lot of our assets; say in Dubai, and certainly with our project in SoHo and anywhere in New York. We see a lot of money pouring in from Russia.’

“Such statements raise important questions about whether any Trump firms, including those now controlled by his children, retain ownership interests in Russian entities, or have business ties or projects elsewhere that include Russian investors. If so, what is the nature of those ownership or investment arrangements?  Might they provide opportunities for…
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News You Can Use From Phil’s Stock World

 

Financial Markets and Economy

GOLDMAN SACHS: Hedge funds are betting billions that these 18 stocks are doomed (Business Insider)

Hedge funds have had a great year picking stocks. But there's a dark underbelly to their investment activity that involves betting on companies to falter.

Moody's downgrades Hong Kong credit rating after China cut (Fox News World)

Moody's decision to cut its credit rating for Hong Kong soon after downgrading its China rating on worries about rising debt levels drew an objection Thursday from the business hub's financial chief.

Fracking, Now The Dominant Technology, Will Keep Oil Price Around $55: Goldman Sachs (Forbes)

Oil prices may rise or fall in the short-term, but they will return to a range of $55 to $65 in the long term because that's the price of oil from fracking shale wells, the Goldman Sachs head of research said in Chicago Wednesday.

Oil Prices Drop After OPEC Meeting Concludes (Forbes)

The OPEC and non-OPEC oil ministers concluded their meeting, as expected, with an agreement to extend current production cuts for an additional 9 months. Khalid al-Falih explained that the ministers considered extending the cuts for 6, 9 or 12 months and concluded that 9 months was the most appropriate at this time.

Inflation Isn't Evenly Distributed: The Protected Are Fine, the Unprotected Are Impoverished Debt-Serfs (Of Two Minds)

The Consumer Price Index (CPI) measure of inflation is bogus on a number of fronts, a reality I've covered a number of times: though the heavily gamed official CPI is under 2% for the past four years, the real rate is 7% to 12%, depending on whether you happen to live in locales with soaring rents/housing and healthcare costs.

Tourism in the US has drastically declined since Trump was elected (Business Insider)

The US tourism business is in trouble — and President Trump may be to blame. 

America's share of international tourism has dropped 16% in March, compared to the same month in 2016, according to Foursquare data released Wednesday. 

Dividend payouts more than double as firms find little use of cash (Daily News and Analysis)

Dividend payouts in India Inc more than


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PPT and the “God of the Gaps”

Joshua does not believe in the PPT God.  

PPT and the “God of the Gaps”

Courtesy of Joshua Brown, The Reformed Broker

Writing in centuries past, many scientists felt compelled to wax poetic about cosmic mysteries and God’s handiwork. Perhaps one should not be surprised at this: most scientists back then, as well as many scientists today, identify themselves as spiritually devout.

But a careful reading of older texts, particularly those concerned with the universe itself, shows that the authors invoke divinity only when they reach the boundaries of their understanding. They appeal to a higher power only when staring into the ocean of their own ignorance… (The Perimeter of Ignorance)

Earlier this week, CNBC Fast Money hosted a former trader who came on to discuss the Plunge Protection Team urban legend as a bonafide explanation for why the market has been acting the way it has.

Leaving aside the fact that, three years ago, I had already explained this phenomenon of short and sharp corrections followed by new highs as a function of the business model shift within the wealth management industry, the former trader was very short on specifics or data or logic of any kind.

The video is below, but you can watch it later, it’s just a rehash of the old story about how a “Working Committee on Markets” had been established under President Reagan to prevent the stock market from going down ever again, and the “team” is made up of various people at the SEC, the NYSE etc.

 

Now obviously, the existence of a Plunge Protection Team (or PPT), is demonstrably ridiculous. Especially when you consider the fact that we’ve seen the market cut in half twice during the last 17 years, with dozens of instances of 10 and 15 percent corrections all along the way over the last 29 years since the end of Reagan’s term. The idea that there could be some clandestine, bipartisan shadow organization, with enough money…
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International Inflation Cycles Sync Up

 

International Inflation Cycles Sync Up

Courtesy of John Mauldin, Mauldin Economics

My friend Lakshman Achuthan, Co-Founder & Chief Operations Officer of the Economic Cycle Research Institute (ECRI), has done some really interesting work on international inflation cycles, and in today’s Outside the Box he shares it with us. This is a special treat – ECRI does not normally make its material available outside of its client base. I am truly grateful that he allows me to share this. Lakshman will be joining us at SIC this week in Orlando, to the great benefit of the attendees.

It turns out that inflation volatility has been greatly dampened in the 11 OECD (advanced) economies in the 21st century, as compared to the late 20th century: It’s now only about a quarter of what it was then. Additionally, the domestic inflation cycles of these countries have increasingly come into sync. These two trends have made it possible for ECRI to devise a leading index of global inflation cycles that offers earlier and more accurate forecasts of cyclical turning points in international inflation.

In concluding this short but groundbreaking piece, Lakshman adds,

The synchronization of international inflation cycles highlights the importance of global factors in assessing domestic inflation prospects. Our analysis underscores the 21st-century reality that the timing of inflation cycles may be beyond the control of any individual central bank. Yet this very development makes it possible for ECRI to provide even earlier signals of peaks and troughs in the inflation cycle.

Lakshman’s piece runs with an argument that my friend John Vogel wrote about this morning, highlighting another piece of research. I’ve been arguing for years that the world is basically in a long-term deflationary trend, despite all the monetary intervention and money printing. It’s a bit difficult to measure, but the cost of producing goods is dropping. Which means that the cost of living will continue to fall – at least as far as purchasing goods is concerned (as opposed to buying services like healthcare and education). As John writes (somewhat controversially):

What I think is more interesting is the productivity created by CHEAP oil and natural gas. We don’t measure this, no fault of men like Prof. Gordon who think in


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Beyond the CBO score: How Trump Budget and the AHCA are dismantling America’s safety net

 

Beyond the CBO score: How Trump Budget and the AHCA are dismantling America's safety net

Courtesy of Simon HaederWest Virginia University

File 20170525 23224 nbrwvx

President Trump and House Speaker Paul Ryan, to his left, celebrating the House passage of the AHCA on May 4. Evan Vucci/AP

The Congressional Budget Office (CBO) on May 24 released its long-awaited analysis of the American Health Care Act (AHCA) passed by the House of Representatives three weeks ago. The Conversation

While the score was not dramatically different from an earlier one, it nonetheless drew a significant amount of news coverage. Countless articles talk about the AHCA’s dramatic effects on insurance coverage and premiums.

However, this focus is decidedly too narrow and missed the larger endeavor by President Trump and Speaker Paul Ryan to initiate a dramatic disinvestment from the nation’s disadvantaged, particularly in terms of health care.

Working in one of the nation’s poorest states, West Virginia, I encounter the challenges of poverty firsthand. It complements my academic work on the historic development of the American safety net and the historic role of public hospitals. The combination of the AHCA and the Trump administration’s budget would hollow out America’s safety net that has evolved since the New Deal and the Great Society.

The Congressional Budget Office and the American Health Care Act

The Congressional Budget Office (CBO) is a nonpartisan congressional agency created in the early 1970s during the Nixon administration. It was envisioned as a counterweight to the dominance of the executive branch and the president in policymaking, particularly when it comes to budgeting. It was also supposed to infuse policy decisions with nonpartisan, analytical information. The assumption is that policymaking is better when it is informed by facts and when we are aware of the effects of the legislation before passing it.

By and large, the CBO has lived up to its expectations. While far from perfect in its projections, it is generally held in high regard by politicians and scholars alike. As such, it has held a dominant role in some of the nation’s major legislative…
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JPMorgan Sounds Alarm On Size Of US Debt, Warns Of Financial Crisis

Courtesy of Zero Hedge

After yesterday Goldman mocked Trump's budget (ironic as it was Trump's ex-Goldman Chief Economic Advisor who conceived it) and said it had zero chance of being implemented, today it was JPM's turn to share some purely philosophical thoughts on the shape of future US income and spending, which as we learned yesterday could balance only if the US grows for 10 years at a 3% growth rate, something it has never done, while slashing nearly $4 trillion in in spending, something else it has never done.

What caught our attention in the note by JPM's Jesse Edgerton was his discussion on the thorniest issue surrounding the US: its unprecedented debt addition, what America's debt/GDP will look like over the next 30 years, and whether there is any chance it could decline as conservatives in government hope will happen.

The answer to the final point according to JPMorgan, is a very resounding no, or as the bank politely puts it, "Despite this week’s budget proposal, legislative changes that would reverse debt growth look unlikely to us." Translated: US debt is never going down again.

Here's why:

As the US population ages in the coming decades, federal government spending on Social Security and Medicare are set to grow as a fraction of US GDP. Meanwhile, our current tax system is expected to collect a roughly constant fraction of GDP in revenues. Thus, deficits and debt will likely grow over time. The Congressional Budget Office (CBO) currently projects that the ratio of debt to GDP would reach an  unprecedented 150% within 30 years under current law (Figure 1).

Figure 1 shows the CBO's central projection for the ratio of federal debt held by the public to GDP under current law. (Debt “held by the public” excludes government trust fund holdings, includes foreign and Federal Reserve holdings, and is currently about $14.4 trillion.) The 2016 level of 77% is the highest in history outside of the World War II era. This debt ratio is projected to reach a new all-time high of 107% by 2035 and 150% by the end of the 30-year forecast horizon in 2047.

An interesting aside from Edgerton: is it worth even worrying about debt:

It is debatable


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What is the Shia-Sunni divide?

 

What is the Shia-Sunni divide?

Courtesy of Ken ChitwoodUniversity of Florida

File 20170523 5782 1o7pzq7

The Hajj pilgrimage in Mecca, when both Shia and Sunni Muslims come together to pray. Al Jazeera English, CC BY-SA

In his address in Saudi Arabia on Sunday, May 21, while calling on Muslim leaders to lead the fight against terrorism, President Donald Trump identified Iran as a despotic state giving safe harbor and financing terror in the Middle East. As Iran is a Shia state and Saudi Arabia a Sunni-led country, some media outlets criticized Trump for taking sides in the Shia-Sunni sectarian divide. The Conversation

As a scholar of Islam and a public educator, I often field questions about Sunnis, Shias and the sects of Islam. What exactly is the Shia-Sunni divide? And what is its history?

History of divide

Both Sunnis and Shias – drawing their faith and practice from the Qur’an and the life of the Prophet Muhammad – agree on most of the fundamentals of Islam. The differences are related more to historical events, ideological heritage and issues of leadership.

The first and central difference emerged after the death of Prophet Muhammad in A.D. 632. The issue was who would be the caliph – the “deputy of God” – in the absence of the prophet. While the majority sided with Abu Bakr, one of the prophet’s closest companions, a minority opted for his son-in-law and cousin – Ali. This group held that Ali was appointed by the prophet to be the political and spiritual leader of the fledgling Muslim community.

Subsequently, those Muslims who put their faith in Abu Bakr came to be called Sunni (“those who follow the Sunna,” the sayings, deeds and traditions of the Prophet Muhammad) and those who trusted in Ali came to be known as Shia (a contraction of “Shiat Ali,” meaning “partisans of Ali”).

Abu Bakr became the first caliph and Ali became the fourth caliph. However, Ali’s leadership was challenged by Aisha, the prophet’s wife and daughter of Abu Bakr. Aisha and Ali went to battle against each other…
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America’s worsening global reputation could put billions in US exports at risk

 

America's worsening global reputation could put billions in US exports at risk

Courtesy of Daniel KorschunDrexel UniversityBoryana V DimitrovaDrexel University, and Yoto V. YotovDrexel University

File 20170524 31366 1lxvg6w

Surveys suggest Trump’s election is hurting America’s reputation. AP Photo/Kamil Zihnioglu

U.S. News and World Report recently published its annual “Best Countries” ranking, based on how thousands of people around the world perceive other nations. Switzerland topped the 80-country ranking, followed by Canada and the United Kingdom. The Conversation

One big surprise was that the United States fell three spots, from fourth to seventh. The U.S. received poor marks for business friendliness, respect for human rights and democracy, and educational quality. These results align with another ranking from Forbes showing the U.S. in decline.

Reputational rankings and similar “best of” lists surely make for interesting dinner conversation, but they do beg an important question: Does a country’s reputation really matter?

The three of us, an economist and two marketers, decided to examine how a change in a country’s reputation might affect its trade relationships. The results were astounding.

 

How a country earns its rep

A country’s reputation is, in essence, the perceptions that people elsewhere hold about its standing in the world.

There is no uniformly correct way to measure reputation. The U.S. News survey asks respondents to rate countries on categories from “adventure” and “power” to “quality of life” and “citizenship,” while Forbes focuses on business. And a country’s reputation can vary in different parts of the world.

People form those opinions based on the totality of their experiences involving the country, from the products they’ve bought to the people they’ve met while traveling to the images they’ve seen in movies.

Another major factor in a country’s reputation is politics and diplomacy. And in that department, the election of Donald Trump may be contributing to the problem.

Pew surveyed citizens of 10 European Union countries last year and found that 85 percent of respondents had no confidence that…
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Fed Eyes Second Quarter Recovery, Expects Trump Fiscal Policy Will Expand Economy

Courtesy of Mish.

Data supporting the second quarter recovery thesis is nonexistent. Four out of four of the recent hard data economic reports have been negative.

Soft data diffusion indexes do not look so hot either.

Earlier today the Census Bureau reported the trade deficit widened. The same report shows retail and wholesale inventories declined by 0.3% each.

Advance Wholesale Inventories

Wholesale inventories for April, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $592.0 billion, down 0.3 percent (±0.4 percent)* from March 2017, and were up 1.8 percent (±1.1 percent) from April 2016. The February 2017 to March 2017 percentage change was revised from up 0.2 percent (±0.4 percent)* to up 0.1 percent (±0.4 percent)*.

Advance Retail Inventories

Retail inventories for April, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $613.5 billion, down 0.3 percent (±0.2 percent) from March 2017, and were up 3.0 percent (±0.5 percent) from April 2016. The February 2017 to March 2017 percentage change was revised from up 0.5 percent (±0.2 percent) to up 0.3 percent (±0.2 percent).

Fed Economic Outlook

Let’s compare what’s actually happening to Fed expectations as noted in Minutes of the Federal Open Market Committee Meeting on May 2-3.

Staff Economic Outlook

In the U.S. economic forecast prepared by the staff for the May FOMC meeting, real GDP growth was projected to bounce back in the second quarter from its weak first-quarter reading. The staff judged that the weakness in first-quarter real GDP was probably not attributable to residual seasonality and that it instead reflected transitorily soft consumer expenditures and inventory investment. Importantly, PCE growth was expected to pick up to a stronger pace in the spring, which would be more consistent with ongoing gains in employment, real disposable personal income, and households’ net worth. In addition, the sharp decrease in the contribution to GDP growth from the change in inventory investment in the first quarter was not expected to be repeated. Beyond the near term, the forecast for real GDP growth was a little stronger, on net, than in the previous projection, mostly due to the effect of a somewhat lower assumed path for the exchange value of the dollar. The staff continued to project that real GDP would expand


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Zero Hedge

Bitcoin 'Crashes' To 1-Week Lows - The Difference Between Fear And Concern

Courtesy of ZeroHedge. View original post here.

Bitcoin dropped over $900 from its record high at $2760 on Thursday in the last 48 hours, but has bounced back to remain up 17% week-over-week.

A 30% drop from Thursday's highs...

But Bitcoin is still up around 140% year-to-date...

While the volatility is unprecedented, ...



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ValueWalk

Pakistan Is The Key To Better Iran And Saudi Arabia Relations

By Polina Tikhonova. Originally published at ValueWalk.

The Pakistani Chief of Army Staff is reportedly making an urgent trip to Iran as tensions are rising. After Iran fired five mortar shells into Pakistan last Sunday in response to Islamabad’s participation in a summit led by U.S. President Donald Trump and hosted by Iran’s rival Saudi Arabia, cracks in their decades-long friendship deepened.

Photo by Uzairmaqbool (Pixabay)

Pakistani Chief of Army Staff (COAS) General Qamar Javed Bajwa is ...



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Phil's Favorites

Ben Carlson on Market Breadth

 

Ben Carlson on Market Breadth (Video)

Courtesy of Joshua Brown, The Reformed Broker

Ben had a hit on Bloomberg TV last night talking about his recent piece on market breadth and why it’s perfectly normal to see the market being led higher by some very big winning stocks. His research shows that this is always the case during bull markets and that broader measures of the internals are healthy, not sick.

Check this out:

…and you can read his expanded thoughts on ...



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Digital Currencies

Bitcoin Is Crashing (Again)

Courtesy of Zero Hedge

While Bitcoin is still up 13% on the week (its 8th weekly ruse of the last 9), the dollar price of the virtual currency is collapsing again in US trading (after a big rebound during the Asian session)...

Just as with yesterday, there is no immediate news catalyst for the flush.

Meanwhile, the huge arb with South Korea bitcoin pricing remains, and as of this moment is still nearly $1000.

Today's drop ...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

U.S. stocks scale new peaks on retailer results; oil falls (Reuters)

Two top U.S. equity indexes scaled record peaks on Thursday after strong earnings reports from retailers, outpacing European shares which were little changed, while oil prices plunged after top crude producers extended output cuts for a shorter period than expected.

Hedge Funds Squeezed by World's Highest Rents Are Moving Out (Bloomberg)

Benjamin Fuchs raised eyebrows five years ago when he opened his hedge fund next to a place selling live chickens in Hong Kong’s hustling, bustl...



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Chart School

S&P Breakout on Higher Volume Accumulation

Courtesy of Declan.

While I expected the Dow Jones to be the breakout flyer, instead it was the S&P which led the charge on higher volume accumulation.  Technicals are all in the green with a return of the MACD trigger 'buy'.



The Dow did manage to break past 21,000 with a MACD trigger 'buy' but it's still contained by all-time high resistance at 21,200. The index is still well positioned for a larger breakout, but this is the sixth day of consecutive gains for the index so some pullback can be expe...

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Members' Corner

Robert Sapolsky: The biology of our best and worst selves

Interesting discussion of what affects our behavior. 

Description: "How can humans be so compassionate and altruistic — and also so brutal and violent? To understand why we do what we do, neuroscientist Robert Sapolsky looks at extreme context, examining actions on timescales from seconds to millions of years before they occurred. In this fascinating talk, he shares his cutting edge research into the biology that drives our worst and best behaviors."

Robert Sapolsky: The biology of our best and worst selves

Filmed April 2017 at TED 2017

 

p.s. Roger (on Facebook) saw this talk and recommends the book ...



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OpTrader

Swing trading portfolio - week of May 22nd, 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

Beyond just promise, CRISPR is delivering in the lab today

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

Beyond just promise, CRISPR is delivering in the lab today

Courtesy of Ian HaydonUniversity of Washington

Precision editing DNA allows for some amazing applications. Ian Haydon, CC BY-ND

There’s a revolution happening in biology, and its name is CRISPR.

CRISPR (pronounced “crisper”) is a powerful technique for editing DNA. It has received an enormous amount of attention in the scientific and popular press, largely based on the promise of what this powerful gene e...



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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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Mapping The Market

Bombing - Right or Wrong?

Courtesy of Jean-Luc

I am telling you Angel – makes no sense… BTW:

Republicans Love Bombing, But Only When a Republican Does It

By Kevin Drum, Mother Jones

A few days ago I noted that Republican views of the economy changed dramatically when Donald Trump was elected, but Democratic views stayed pretty stable. Apparently Republicans view the economy through a partisan lens but Democrats don't.

Are there other examples of this? Yes indeed. Jeff Stein points to polling data about air strikes against Syria:

Democr...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

...

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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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FeedTheBull - Top Stock market and Finance Sites



About Phil:

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

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About Ilene:

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

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