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The insiders are selling heavily

By Mark Hulbert, MarketWatch

CHAPEL HILL, N.C. (MarketWatch) — Corporate insiders are now selling their companies’ stock at a rate not seen since late last July.

That’s a scary parallel indeed, since that late-July spike in selling came just days before one of the more painful two-week periods in the stock market in years.

In early August, as you may recall, the U.S. government lost its triple-A credit rating, and the bottom dropped out of the stock market. Between the last week of July and the second week of August, the Dow Jones Industrial Average DJIA +0.05%   dropped 2,000 points.

Keep reading here: The insiders are selling heavily – Mark Hulbert – MarketWatch.




Wired’s Embarrassing Whitewash of Foxconn

Courtesy of Yves Smith of Naked Capitalism

Wired’s Joel Johnson has written a stunning bit of PR for Foxconn, now-controversial supplier to the consumer electronics industry, duly wrapped in credibility-enhancing guilt over Western materialism.

The article, “1 Million Workers. 90 Million iPhones. 17 Suicides. Who’s to Blame?” pretends to be about Foxconn’s factories. But Johnson admits he’s a tech toy writer who apparently has no knowledge of manufacturing (I know I’ve had only limited contact with manufacturing, yet reading his piece, I’d bet serious money that I’ve seen more manufacturing operations than he has by dint of being a coated paper brat and doing due diligence on some oddball tech deals over the years, as well as visiting a motherboard maker back in the stone ages when motherboards were made in the US). Yet he’s remarkably uninhibited in using his fantasies and abject ignorance as a basis for making sweeping generalizations about the Taiwanese powerhouse. For instance:

In the part of our minds where Americans hold an image of what an Asian factory may be, there are two competing visions: fluorescent fields of chittering machines attended by clean-suited technicians, or barefoot laborers bent over long wooden tables in sweltering rooms hazed by a fog of soldering fumes.

When we buy a new electronic device, we imagine the former factory. Our little glass, metal, and plastic marvel is the height of modern technological progress; it must have been made by worker-robots (with hands like surgeon-robots)—or failing that, extremely competent human beings.

But when we think “Chinese factory,” we often imagine the latter. Some in the US—and here I should probably stop speaking in generalities and simply refer to myself—harbor a guilty suspicion that the products we buy from China, even those made for American companies, come to us at the expense of underpaid and oppressed laborers.

Huh? Is he serious about this? Anyone who has been following China even slightly would imagine Chinese factories aren’t like Japanese car-makers, heavy on robotics, but are mainly labor intensive (with the exception of some sparkling new capital intensive factories where China is trying to go up the value added chain), and if they are in the Pearl River Delta, makers of watches, clothing and toys (hence not much soldering). And if higher tech, the operations HAVE to be pretty to very clean. But no, everyone in the Wired readership is assumed


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Treasury Market Panic Reversal Due To Little Known Forces Called Supply and Demand

Treasury Market Panic Reversal Due To Little Known Forces Called Supply and Demand

Courtesy of Lee Adler of the Wall Street Examiner

The Treasury market panic saw a bit of a reversal this week, partly due to an unexpected, large increase in supply because of a sharp drop in Federal tax revenues over the past couple of weeks, and partly due to the market misunderstanding of Thursday morning’s news. The “better than expected” weekly unemployment claims data was one thing. Some piling on the “risk on” trade as a result of news of a deal for another Greek bailout, was another. But we are more interested in the more esoteric and little known drivers of prices, such as “supply” and “demand.”

The short term knee-jerk reactions of hedge fund traders to news “don’t impress me much.” For one thing, today’s news has a shelf life of about 20 seconds. Likewise, traders are prone to misinterpreting “news” depending on their currently predominant position.

Since the boat is loaded long Treasuries, any “good” economic news triggers a one day selloff. When those selloffs come within the bounds of a trading range, they’re nothing more than noise. To confirm a reversal in Treasuries we need a bona fide breakout. First, the 10 year yield needs to break 2.10, and then it needs to break 2.40. If that were to happen, it would signal a long term reversal. There are some signs that we’re headed there, but we’re not there yet. The jury is still considering the case.

In recent weeks the Treasury buying panic was helped by reduced supply triggered by a massive bulge in withholding taxes from late December to late January. That bulge has now subsided, and the Treasury suddenly appears to be running short of cash. It made a surprise announcement today that it would need to raise a quick $20 billion in a 64 day CMB to be auctioned next week. What had been the beneficial impact of reduced supply could reverse into greater than expected supply in the weeks ahead if tax revenues fall short of the government’s optimistic estimates. The daily withholding data shows those revenues dropping but then pausing over the last few days, so it’s not completely clear yet where that trend is headed. The data for the coming week should give us a better handle.

We’ll also keep an eye on the…
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Economists Surprised Again By Unemployment Claims, Should Not Have Been

Economists Surprised Again By Unemployment Claims, Should Not Have Been

Courtesy of Lee Adler of the Wall Street Examiner

The mainstream media proclaimed an unexpected "beat" of the first time unemployment claims number today. The fake, seasonally fudged number dropped to 358,000 in the week ended February 4. According to Bloomberg, the consensus of economists' expectations was for 370,000. Aside from the fact that whether economists get a forecast right or not seems to be completely random, two facts stand out. First, the number that they are looking at is made up and fictional. Second the trend of the actual weekly number has been unflinchingly within a couple of points of an annual rate of decline of 9-10% for the past 18 months.

As long as that trend is intact, there will be no reason to ever expect the weekly number to mean anything other than steady as she goes at the current rate. In fact, there's really little point to forecasting the number on a weekly basis, because typically a big change one way one week is reversed the following week. What counts is the trend, which is another reason why all the old guys on Wall Street are so fond of repeating, "The trend is your friend."

It's nice that the claims number is a weekly number, and that it is virtually real time with a lag of less than a week, therefore the first sign of a change in the trend of the economy may well come from this series. It is worth watching from that respect.

At this point there's no sign of a change in the trend. There's no sign of deterioration, and certainly no sign of improvement over what's been going on, so the fact that the number was a surprise to economists is neither here nor there. The number was completely consistent with the trend.

The actual number of first time claims last week was 397,810. This is based on the data  on actual applications that each of the 50 states feed into the Federal Department of Labor's computers. It's not a survey or an estimate, unlike many government series. It's a real number, which the government reports, but which it also then manipulates into a smooth line for economists to wet their pants over. This number will be revised next week, but the week to week revisions are typically small and usually


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Japan Machine Orders Drop 7.1%, Exports Down 3 Consecutive Months; Predicted Growth or Predicted Mirage?

Courtesy of Mish 

Bloomberg reports Japan Machine Orders Fall More-Than-Estimated 7.1% as Yen Climbs

Japan’s machinery orders fell at the fastest pace in three months in December as a faltering global economy and gains by the yen dimmed the outlook for exporters.

Bookings, an indicator of capital spending, decreased 7.1 percent from the previous month, the Cabinet Office said in Tokyo today, after surging 15 percent in November. The median estimate of 29 economists surveyed by Bloomberg News was for a 5 percent decline.

Japan’s exports fell for three straight months through December as European leaders grappled with the debt crisis that is driving the euro region into a recession. Spending may rebound as earthquake reconstruction work kicks in and today’s report showed companies forecasting a 2.3 percent increase in orders this quarter.

Japan’s lower house of parliament on Feb. 3 approved Prime Minister Yoshihiko Noda’s 2.5 trillion yen ($32 billion) recovery package from the earthquake and tsunami, the fourth supplementary budget since the disaster. The government forecast in December that Japan’s economy will grow 2.2 percent in the year starting April after a projected 0.1 percent contraction this fiscal year.

The International Monetary Fund estimates that Japan’s economy will grow 1.7 percent this year, compared with a likely 1.8 percent expansion for the U.S. and an estimated 0.5 percent contraction for the euro area.

Predicted Growth or Predicted Mirage?

Spend enough money and you can get GDP to rise. But what about that deficit to the tune of 230% of GDP?

To solve the deficit problem, Japan proposes massive tax hikes. What would tax hikes do for consumer spending? If Japan does pass tax hikes, it could strengthen the Yen. What would a strengthening the Yen do to exports?

Simply put, the estimated growth is a mirage, if it happens at all, and increased government spending is going to cause other problems.

For further discussion, please see Japan Faces Moment of Truth: First Annual Trade Deficit Since 1980; New Trend or Simply the Tsunami Effect?

Mike "Mish" Shedlock

http://globaleconomicanalysis.blogspot.com




Merkel’s Official Denial “I will have no part in forcing Greece out of the euro”

Merkel's Official Denial "I will have no part in forcing Greece out of the euro"; Schäuble Starts Salami Tactics on German Participation, Calls for Vote

Courtesy of Mish

Germany's "Official Denial"

If you seek confirmation that Germany is actively trying to force Greece out of the Eurozone, strong evidence appears in the form of an "Official Denial"

Please consider Merkel Says Won't Force Greece Out of Euro

German Chancellor Angela Merkel said on Tuesday she did not want to see Greece being forced out of the euro, warning that this would have "unforeseeable consequences."

"I will have no part in forcing Greece out of the euro," she said in response to a question from a Greek student at a meeting with young people in a Berlin museum.

"We don't do it to make things difficult for people, what would be our interest in doing that? But we want to reach a point where Greece can, with European help, live off its resources," said Merkel.

"Nobody wants to force reforms on them from outside," she said.

"Official Denial" Theory

For a discussion of the "official denial" theory, please see Eurozone Breakup Logistics (Never Believe Anything Until It's Officially Denied)

Cede Budget Sovereignty Roadblock

Right in line with "official denial" theory, Germany started placing as many roadblocks as possible on Greece.

On January 27, Merkel demanded Greece to Cede Sovereignty to Eurozone "Budget Commissioner".

Unfortunately for Germany, French president Nicolas Sarkozy shot down the idea. However, Germany would not let it drop and two days ago Merkel floated a similar idea disguised as a Spaghetti-O.

Spaghetti-O Roadblock

For details of the Spaghetti-O loop proposal, please see New Merkozy Proposal "I will Give You Money If You Give It Right Back"; Mathematical Scam to Prevent CDS Triggers

Schäuble Starts Salami Tactics

In addition to the Spaghetti-O loop, Eurointelligence discusses the "Salami Roadblock".

According to Financial Times Deutschland, Wolfgang Schäuble now wants the Bundestag to vote only on a fraction of €30bn out of the total cost of the second Greek rescue package of €130bn. He is supported by the finance ministers of the Netherlands and Finland who met as part of the secret meeting AAA-rated ministers. The reason for this unexpected move is that the coalition has reason to fear that the general exasperation about


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On Banknotes

Bruce KrastingOn Banknotes

 

There is a curious story in the Swiss press today. On the surface it appears innocuous. 

Paper money has been in transition for the last ten years. Most of the big issuers of paper have updated their bills to minimize forgery. The US has spent a bundle on this effort, and it too has had problems and delays with issuing the new, more complicated money. So my first thought about the Swiss delay was that this is more of the same. Technical printing problems are to blame.

My second thought is that this is not a benign delay; something more than meets the eye is happening. There have been press reports in Switzerland that commercial banks are no longer able to meet client demand for safe deposit boxes. All of the boxes are apparently taken. As a result, people are renting safe deposit boxes in hotels. (Link)
 

From Le Temps 2/6/2012:

A distinguished lady had hidden 65,000 euros in the heels of her shoes and her bra.

A Labrador is trained to sniff out banknotes in Chiasso.

A motorist was caught in early February with more than 200,000 euros hidden at the bottom of his suitcase. 

In a survey of "the great capital flight", the daily La Repubblica suggests a rise of 50% of receivers of property along the border with Switzerland in late 2011 over the summer.

Interesting. What in hell is going on here? Why are safe boxes so much in demand? What is in these boxes? Is it gold? Probably. Cut and uncut diamonds? Probably. I don’t think that all these boxes are being filled with deeds, wills and other important papers. The vault boxes are being used as a store of wealth.

So I ask, “Is there paper money in these boxes?” The answer is,“Of course there is”.  Bigger questions are, “How much paper money is going to boxes? And who’s putting it in there?”

Sadly, I don’t have an answer – only an opinion and some thoughts. I think that these boxes are filled with: 

A) Hot money from Swiss banks with customers whose names and accounts that are in the process of being revealed to host country taxing authorities and,

B) New money from Italian, French and German citizens who fear that…
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Panic On Wall Street As Anti-Insider Trading Bill Spreads Wider Net Over Information Peddling

Courtesy of Jesse's Cafe Americain

jump-you-fuckers

Senator Chuck Grassley put a clause back into the Senate's anti-insider trader law that requires financial analysts who meet with Congressmen and their staffs to register their meetings.

The purpose of this clause is to bring transparency to the information peddling that represents a lucrative business for hedge funds and banks that trade on insider information from the Congressmen themselves.

There is also the selling of information obtained in private meetings with the Congress to hedge funds. And rumour has it that quite a bit of that information spreads its way through the halls of the august Wall Street banks as well who help to gather it as well.

Wall Street apparently went into full court lobbying mode when they found out that Grassley had resubmitted this clause after they had successfully had it removed.

The clause only requires analysts to register their contacts and to disclose how they might be using the information provided by the Congress.

Information is power, and private access to public power is one of the great strengths of the Wall Street monied interests.

This bill might curtail the ability of JP Morgan and Goldman Sachs to obtain private information from the Finance Committees.  And they are upset about the loss of that privilege.

I am sure Mr. Obama, the great reformer who promised transparency, is solidly behind this move by the Republican Senator Grassley, right? Hard to tell right now.

Panic on Wall Street. 

Bloomberg
Wall Street Sees Analysts Snagged by Political Intelligence Bill
By Phil Mattingly and Robert Schmidt
Feb 7, 2012 12:01 AM ET 

A U.S. Senate measure that would place restrictions on people who gather and sell government information to hedge funds may entangle bank research analysts and others on Wall Street, according to lawyers and lobbyists. (The others are the conduits to the trading desks of the TBTF banks – Jesse)

The Securities Industry and Financial Markets Association, which represents firms including Goldman Sachs Group Inc. and JPMorgan Chase & Co., held a rare weekend call for members on Feb. 4 to discuss the measure, according to two people with direct knowledge of the


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Appetite For Diamond Foods Options Rises As Shares Tumble

www.interactivebrokers.com

 

Today’s tickers: DMND, MHS & TRIP

DMND - Diamond Foods, Inc. – Investors sent shares in the maker of Pop Secret and Emerald snack nuts sharply lower on Thursday after the Company said it will replace its top two executives and restate earnings for the past two years. The already hard-hit stock opened down more than 40.0% this morning to touch an intraday- and multi-year low of $21.44. Options on Diamond Foods attracted all kinds today, with some strategists nibbling at calls and selling puts, while others position for further downside in the name. Investors expecting shares to somewhat recover in the next six trading sessions picked up call options in the front month. Approximately 1,400 calls were purchased at the Feb. $25 strike for an average premium of $0.86 each. Call buyers may profit at expiration next Friday in the event that DMND’s shares rally 11.2% off the current price of $23.25 to top the average breakeven price of $25.86. Meanwhile, out-of-the-money put selling in the front month may mean some traders expect the stock is unlikely to tumble much further from here within the next week. Put sellers looked to the Feb. $20 strike, selling around 1,500 of the contracts to receive an average premium of $0.64 per contract. Traders keep the full amount of premium as long as shares in Diamond Foods exceed $20.00 through expiration. Options volume on the food products company today currently exceeds 95,000 contracts, an active day for the stock, which has 158,981 contracts comprising overall open interest.

MHS - Medco Health Solutions, Inc. – Shares in the pharmacy-benefits-manager (PBM) are off slightly this morning, down 0.20% at $60.70 as of 11:30 a.m. in New York, but options activity in the name suggests the stock…



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BOEasy Money Thursday – Greasing the Wheels

More free money!

That's the way we like to start the day as the BOE pumps another $75Bn into the mix and, best of all, their currency went UP on the news because "whisper numbers were for $100Bn."  Now that we know the magic formula, we can start a rumor that the Fed will print $3Tn and then, when they ONLY print $2.5Tn – the Dollar will become much more valuable.  See, I'm starting to think like a Central Banker!  

Also in the "bad news must be good news" pile as Greek Finance Minister Evangelos Venizelos (wouldn't it suck to live in Greece with a name like Bob Smith?) heads to Brussels with NO DEAL.  That's right there is still no deal on the Greek bailout that has boosted the markets by 22% since October.  They do claim that the only remaining issue is pension cuts but all the Florida voters who picked Romney will soon find out how easy that is to accomplish. 

Just last February, I was writing a Thursday post titled "Greece is the Word" where I warned that the 4.23% CDS rate hitting Greek bonds was unsustainable and that turned us bearish right at the top of the rally at S&P 1,344.  Yesterday, the S&P was back to 1,349 and I wonder if Greece never happened – would I have continued to be bullish with the markets at this level?  

On the whole, even WITH the snowballing Greek crisis, we "only" fell to 1,249 in March so, with Greece all fixed – maybe we can afford to be a bit more bullish.  I'll be more comfortable with the upside once we see that Greece is not a "sell on the news" event but, as I noted yesterday, our last 10 bullish picks did quite well and a few of them are still playable and certainly there are still opportunities out there to pick up good stocks fairly cheaply.  

Take DMND, for example.  Last night, the stock fell from $37 to $20.50 as the beleaguered company will have to restate their last two years of earnings and that sent the CEO and two CFO's out the door and does, in fact, constitute a "material adverse change" that will allow PG to, at their discretion, terminate their deal to merge their Pringles division into DMND in exchange for a…
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Zero Hedge

The Cost Of The Combined Greek Bailout Just Rose To €320 Billion In Secured Debt, Or 136% Of Greek GDP

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Some of our German readers may be laboring under the impression that following the €110 billion first Greek bailout agreed upon and executed in May 2010, the second Greek bailout would cost a "mere" €130 billion. Alas we have new for you - as of this morning, the formal cost of rescuing Greece for the adjusted adjusted adjusted second time has just risen to €145 billion, €175 billion, a whopping €210 billion, bringing the total explicit cost of all Greek bailout funds to date (and many more in sto...



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Chart School

Best Stock Market Indicator Ever: Weekend Update

Courtesy of Doug Short.

The $OEXA200R (the percentage of S&P 100 stocks above their 200 DMA) is a technical indicator available on StockCharts.com that can be used to forecast conservative entry and exit points for the stock market.

The OEXA is used to find the "sweet spot" time period in the market when you have the best chance of making money. See Is This the Best Stock Market Indicator Ever? for a discussion of this technical tool.

The chart below is current through the February 3rd close.


After a major S&P correction, the conditions for safe re-entry into the market are when:

   a) $OEXA200R rises above 65%. And two of the following three...

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Phil's Favorites

Violent Protests in Greece; 6 Cabinet Members Resign

Violent Protests in Greece; 6 Cabinet Members Resign; LAOS leader "I Would Rather Starve Than be Under German Jackboot"; Controversy Over Missing Paragraphs

Courtesy of Mish

Imagine you are asked to sign a document but three pages were missing. Further imagine the documents you were asked to sign were written in English but you only speak Greek. Would you sign?

That is exactly the predicament Greek officials were placed in by the Troika. Here is the story sent to me by Demetri Kofinas at Capital Account.

Hello Mish

George Karatzaferis leader of LOAS political party gave a speech today addressing why he refused to sign this latest agreement. In his speech, he said that he a...

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Sabrient

Sabrient Risers - 2/11/2012

Top 5 RisersStockRatingAnalysisICABUYThe projected value for Empresas ICA is still rising quickly even though past earnings have already improved significantly.XBUYThe projected value for US Steel is still rising quickly even though past earnings have already improved significantly.FEICBUYProjected value continues to rise for FEI while long term increases in earnings growth are also becoming more widely expected.ASBCBUYMany analysts are expecting higher than previously expected long term growth from Associated Bancorp, and its near-term earnings outlook is also improving....

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Insider Scoop

Benzinga's M&A Chatter for Friday February 10, 2012

Courtesy of Benzinga.

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday February 10, 2012:

Actuant Acquires Jeyco Pty

The Deal:
Actuant (NYSE: ATU) announced Friday that it has acquired Jeyco Pty Ltd (“Jeyco”). Headquartered near Perth, Australia, Jeyco designs and provides specialized mooring, rigging and towing systems and services to the offshore oil & gas industry in Australia and other international markets. Additionally, its highly engineered products are used in a variety of applications for other markets including cyclone mooring and marine, defense and mining tow systems. Jeyco generates annual revenues of approximately $20 million.

Actuant shares closed at $27.33 Friday, a loss of 0.18% on average volume.

...

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Market Montage

And Still Not a Single 1% Down Day in 2012

Submitted by Mark Hanna

Courtesy of MarketMontage. View original post here.

A little flurry of buying in the closing 5 minutes tacked on 2 S&P points and took the major indexes off the lows.  Only the Russell 2000 finished with a greater than 1% loss (1.4%) as it has been relatively weak versus the senior indexes for the past few sessions.   While today was the "worst day of the year" – it was quite a low bar as the previous biggest loss on the S&P 500 was -0.57%.

The S&P 500 held well above the 10 day moving average (didn't even really touch it) and did not even attempt to fill the gap from last Friday's employment report.  The teflon market rolls on for now.  Specul...



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ETF Selector

ETFs Skid On Greece (VGK, EWG, FXE, DIA, SPY)

Courtesy of John Nyaradi.

Greece was “saved” for less than 24 hours but now major ETFs around the world skid into the weekend on Greek fears

After wangling for a week or more, Greek took their new deal to the European Ministers meeting, only to have it promptly rejected and so as we go into the weekend, major global markets and ETFs have again hit the skids on Greece.

After two years of wangling, the European zone is demanding yet more and deeper cuts for Greece to qualify for the next round of bailout loans that will keep the country from going bankrupt on March 20th.

Major European and United States ETF responded negatively to the new developments:

SPDR Dow Jones Industrial ETF (NYSEARCA:...



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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

True Religion Falls Apart At The Seams After Earnings

 

Today’s tickers: TRLG, KR & IGT

...



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OpTrader

Swing trading portfolio - week of February 6th, 2012

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

Optrader 

...

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Stock World Weekly

Stock World Weekly: The Relentless Pursuit of Meaningless Metrics

NEW: Elliott and Ilene are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's the latest Stock World Weekly, called "The Relentless Pursuit of Meaningless Metrics."  

...

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IRA Strategy/Income Trader

Weekend Virtual Portfolio Update 1/30/2012

Here is a quick update of past trades and our current position. AA Money No trade this week as we wait for AA to settle. Phil remarked last week that AA seemed overvalued. In the meantime, it looks like we might have to roll our Feb 9 calls. Good thing we sold only 5 of them against our position. Last week P&L - 310.00 We lost ground last week, but we still have 11 months to sell premium! FAS Money Very good week for FAS Money as we benefited from the large amount of premium sold the previous week. We covered most of the shorts in advance of the Fed speech, but sold another set of options on Wednesday after the speech - 2 FAS calls that expired worthless on Friday, 2 FAS put that we are still holding and 2 FAZ put that we bought back for a profit on Friday. A late stick comparable to last week's almost gave us problems at the end of the day though! Last week P&L - $4277.00 IWM Money A decent week in this virtual portfo...

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Pharmboy

Biotech Investing for 2012

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

Finding new and exciting Biotech companies that target novel mechanisms is like trying to find a needle in a haystack.  Sure there are many companies working on cutting edge science, but investing in those companies to reap the rewards of their work is a very dangerous game.  More often than not, companies fail because the mechanism does not pan out, the compound(s) do not have pharmacokinetics (get into the body or last very long in the body), or an adverse event happens that knocks years off a development timeline.  In addition, the stock can be manipulated by market makers so investors don't know which way is up.  I approach investing in biotechs as a long term prospect.  I continue to like our current portfolio of biotech companies (join in chat for many of those plays), and we continually add/subtract shares and sell/buy options on ...



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

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