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Apple SIM Card For iPad Air Announced

Apple SIM Card For iPad Air Announced

By  at Business Insider

Apple didn't just unveil its new iPads on Thursday — it announced a separate, less advertised product that could mean trouble for wireless carriers. 

With its new iPad Air 2, Apple customers will have the option of buying a cellular version loaded with the company's new "Apple SIM" card, as Dan Frommer at Quartz points out.

A SIM card is that tiny piece of plastic in your phone that allows you to connect to a carrier's wireless network.

Typically, a SIM card is programmed to work with one specific carrier. So, if you buy a phone on a two-year contract from AT&T, it'll come with an AT&T SIM card inside. If you wanted to use that same phone on Verizon, you would have to buy a SIM card from Verizon and put it in that phone.

But Apple wants to change how that model works. Apple's SIM card works with multiple carriers, so you wouldn't have to purchase an iPad or SIM card from a carrier. To be clear, this isn't like simply buying an AT&T SIM card directly from Apple instead of AT&T. With Apple's SIM card, you can switch carriers whenever you please without having to commit to a two-year contract or make any purchases directly through the carrier. 

Here's how Apple explains it on its website:

"The new Apple SIM is preinstalled on iPad Air 2 with Wi-Fi + Cellular models. The Apple SIM gives you the flexibility to choose from a variety of short-term plans from select carriers in the U.S. and UK right on your iPad. So whenever you need it, you can choose the plan that works best for you — with no long-term commitments. And when you travel, you may also be able to choose a data plan from a local carrier for the duration of your trip."

Keep reading Apple SIM Card For iPad Air Announced – Business Insider.





Flip Floppin’ Friday – Futures Fly as Fear Fades

obama hugs nurseNothing came of yesterday's Ebola hearings

Here's a picture of President Obama hugging it out with one of the nurses that treated one of the Ebola patients – a strong image for the people as calmer voices begin to prevail – on that front at least.

Markets were also boosted by dovish talk from the usually hawkish Jimmy Bullard, of the St. Louis Fed, who said the Fed should consider delaying plans to end its bond-buying program at the end of this month to halt a decline in expected inflation.  This is what it sounds like when Doves cry at the Fed and, like Prince's mother, the markets are never satisfied but, for this morning at least – we're taking back those weak bounce levels that we told you we'd take back by Friday.  

“The recovery from the lows after Bullard spoke yesterday is another reminder how addicted markets still are to liquidity,” said Deutsche Bank strategist Jim Reid.  “The Fed can certainly help markets but perhaps we really need the ECB to step up a gear for a true recovery,” he added.

SPY DAILYStill, manipulated or not, this gives us two nice reversal days on strong volume and we couldn't be happier as we flipped very bullish in our Short-Term Portfolio and should be able to take full advantage of this rapid recovery.  

Whether or not we maintain that bullish stance into the weekend depends on how our bounce levels hold up today (see Tuesday morning's post for our amazingly accurate predictions of the week's action).  

Keep that in mind when I tell you there is nothing particularly bullish about hitting the weak bounce on the Friday of a drop week – it's merely better than the alternative of FAILING to make those weak bounce lines.  That would have been BAD!!!  Meanwhile, those of you who took our FREE Trade Idea from yesterday's morning post to go long the Russell at 1,050 (the same line we were watching on Tuesday) are now sitting on $4,000 PER CONTRACT gains and I do so hope you are not greedy and set your stops at the 1,090 line.  


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Comment by Phil

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  1. Phil

    SPY  5  MINUTEGood morning!  

    Big upside Wheeeeeeeee! this morning with the futures popping 1%+ as Europe ripped 2% higher right out of gate.  Yellen is speaking at 8:30 but not much hard news driving things, just speculation on more stimulus and, of course, we knew we'd have to make those weak bounce lines by Friday.  I would have rather made slow gains on good volume but we had great volume yesterday, so it was a nice reverse signal.

    This will, of course, be fantastic for all those longs we repositioned to in the STP and, of course, will renergize the LTP and Income Portfolios as well.  

    Bullard Challenges Fed to Respond to Weakening Inflation

    European Stocks Rise Amid Growing Pressure for Stimulus

    European Car Sales Growth Revives on Price Cuts

    Renzi Plan to Shake Up Labor Market Seen Helping Italy Recovery

    Putin Threatens EU Gas Squeeze Raising Stakes for Ukraine

    Google Profit Misses Estimates on Slower Advertising Growth

    SPY DAILYSo certainly not new-driven, just a technical bounce and we'll just watch our 5% Rule targets to see if they end up being strong or weak but, per the Big Chart above, we already hit our weak bounce target on the RUT (1,080) and the Dow was nearly strong (16,117) and NYSE made it's weak bounce so all good signs into yesterday's close.  

    • Dow – 15,480 should hold.  Weak bounce 15,824, strong bounce 16,168.
    • S&P – 1,800 should hold.  1,840 (weak) and 1,880 (strong).  
    • Nasdaq – 4,140 should hold.  4,232 (weak) and 4,324 (strong).
    • NYSE – 9,900 should hold.  10,120 (weak) and 10,340 (strong)
    • Russell – 1,050 MUST HOLD.  1,080 (weak) and 1,110 (strong) 

    Today we'll need all those weak bounce lines to hold and at least a strong on the Dow or we'll have to take the quick profits on the short ultra-short calls we have naked.  







Facing Down The Narrative Fallacy

Facing Down The Narrative Fallacy

Courtesy of Tim Richards of PsyFi Blog

Frenzy Time

Markets are tumbling. It's because the Fed is about to push up interest rates. Or maybe because the German economy is weak. Or perhaps it's Ebola, about to decimate global populations. Or it's geopolitical conflict – Ukraine, Syria, Iraq … take your pick. It's a perfect storm. Head for the hills and don't spare the horses. And remember the shotgun.

Of course, it's none of these. Markets are falling because they were a bit overpriced and investors were ignoring the fact because they'd got themselves into a typical feeding frenzy, ignoring the risk and ambiguity that are always present. Now that they have recognized the issue they're fighting each other to get out the door. Which is why all of the explanations for market weakness are entirely plausible and entirely wrong – they're an example of what Nassim Taleb calls "the narrative fallacy."

Excess Volatility

Investors find it really hard to believe that stock prices can move for no real reason at all – and we have an entire industry of pundits whose job it is to produce those explanations and feed those beliefs. Yet the reality is that shares often do have a life of their own, and if they randomly start to move in a certain direction then that can cause a cascade effect. 

In fact, as we saw in Volatility, The Last Anomaly, Robert Shiller has found that there's up to thirteen times the expected volatility in markets – stock prices move around far, far more than can be explained by fundamentals. Yet we can't just accept this – we need some story that explains why each and every market fluctuation happens – it's the modern equivalent of the volcano god, spewing lava everywhere because it's had a bad day at the office.

Heterogeneity

Eli Ofek and Matthew Richardson have argued, in The Valuation and Market Rationality of Internet Stock Prices that it's heterogeneity of beliefs among investors that causes this cascade effect and, with it, the excess volatility in the system. In essence, if everyone is operating on the same set of values and expectations then everyone will tend to react in the same the way to the…
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Wal-Mart Guidance

Wal-Mart Bores Analysts For 6 Hours At Analyst Day — And Then Suddenly Cuts Its Outlook

Courtesy of 

Wal-Mart management sees 'somewhat slower growth' in the years to come.

This is how CFO Charles Holley characterized his outlook for the retail giant during the company's Annual Meeting for the Investment Community on Wednesday.

Holley forecasted fiscal 2015 sales would reflect 2% to 3% year-over-year growth. This is down from previous guidance of 3% to 5% growth.

This follows an announcement earlier today that the company would open just 60-70 supercenters in fiscal 2016, down from 120 in fiscal 2015.

"It's important for us to really think about these big boxes," Wal-Mart US CEO Greg Foran said.

Holley expects online sales growth to remain robust, surging a healthy 25% in fiscal 2016.

Thanks to Yahoo's Jeff Macke for the headline.





How Can There Not Be a Currency Crisis?

How Can There Not Be a Currency Crisis?

By Casey Research

The Fed claims that signs of economic stress are very low, but savvy investors feel otherwise. With geopolitical unrest expanding and central banks doing the opposite of the right things, is a currency crisis barreling toward us? See what Mish Shedlock had to say about the state of world finance at the 2014 Casey Research Summit:

 

Even though the Summit is long over, you can still benefit from every presenter… every panel discussion… every investment recommendation. Order the 2014 Summit Audio Collection and you’ll receive all of that, plus all slides used in the presentations and a bonus highlight reel. Choose between instantly available MP3 files or CDs… or get both for maximum convenience. Order now so that you’re well positioned to thrive in the coming crisis economy.

The article How Can There Not Be a Currency Crisis? was originally published at caseyresearch.com.

 





Comment by Phil

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  1. Phil

    EGLE/Rperi – I imagine they'll split the options into pre and post contracts.  At the moment, the 2016 $2.50 puts are still showing $2.10, it will take a while before they settle into new pricings (like SHLD and CZR did).  

    We're just not getting over the hump of yesterday's close – that's not good.  Europe finished at FTSE -0.25%, DAX +0.13%, CAC -1.26%, Italy -2.24% and Spain -3% so better but not great by any stretch.  

    Still, we can't use them for an excuse for our weakness now so let's see what they really have.  VIX still nervous at 26.79.  

    DXD April $28/33 bull call spread is 0.60 and I think we should grab 50 of them ($3,000) in the STP to cover our short 50 Jan $27 calls – just until we feel more comfortable that the Dow will hold 16,000.







Calling Into Question

Outside the Box: Calling Into Question

By John Mauldin

A note has been circulating among economists, calling into question the wisdom of another group of economists who wrote an open letter to the Federal Reserve a few years ago suggesting that one of the risks of their quantitative easing program was increased inflation. Since we have not seen CPI inflation, this latter group is calling upon the former to admit they were wrong, that quantitative easing does not in fact cause inflation. To no one’s surprise, Paul Krugman has written rather nastily and arrogantly about the lack of CPI inflation.

Cliff Asness has responded with a thoughtful letter, with his usual tinge of humor, pointing out that there has been inflation, it just hasn’t been in the CPI. We’ve seen it in assets instead. That money did go someplace, and it has disrupted markets. So why is Cliff’s letter a candidate for Outside the Box, when the markets seem to be bouncing all over heck and gone?

Because, come the next crisis, there is going to be another move for yet another round of massive quantitative easing. And the justification will be that increases in the money supply clearly don’t have much to do with inflation.

I should note that while I did not agree with the original letter. I thought we were in an overall deflationary environment, and I wrote that the central banks of the world would be able to print more money than any of us could possibly imagine and still not trigger inflation – views came in for considerable pushback. My reasons for believing QE2 and QE3 were problematic dealt with other unintended consequences. And ultimately, as global debt gets restructured (which will take many years) inflation will become a problem. Did you notice how Greek debt spreads blew out yesterday? It’s not just about oil. And trust me, France is going to be the new Greece before we know it. The people who think they can control markets and direct investors like sheep are going to be in for a huge surprise, but the nightmare is going to be visited upon the participants in the market.

We then move to a few thoughts from Peter Boockvar, in a letter he writes to savers,…
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Thursday Thump – Europe Takes a Dive, US Futures Follow

SPX WEEKLYIt's going to be another wild one! 

As you can see from Dave Fry's S&P chart, we dropped all the way to 1,820 on the S&P yesterday, before recovering just after 1pm on an report from Bloomberg that indicated:

Federal Reserve Chair Janet Yellen voiced confidence in the durability of the U.S. economic expansion in the face of slowing global growth and turbulent financial markets at a closed-door meeting in Washington last weekend, according to two people familiar with her comments. 

That's TWO people who were familiar with her comments from LAST WEEKEND – that's certainly worth 40 points (2%) on the S&P isn't it?  The people, who asked not to be named because the meeting was private, said Yellen told the Group of 30 that the economy looked to be on track to achieve growth of around 3 percent going forward. She also saw inflation eventually rising back up to the Fed’s 2 percent target as unemployment falls further, according to the people.

SPY  5  MINUTEWell, as long as the people say so, that's good enough for us, right?  It seemed good enough that we began to cash out out short positions in our aggressively bearish Short-Term Portfolio but this morning it seems we may have gotten a bit ahead of ourselves as the Futures are right back to yesterday's lows, dragged down by another massive sell-off in Europe.

As we caught a great bounce from 1,040 on /TF (Russell Futures) back to 1,070 (+$3,000 per contract) on yesterday's rally we've been going back to that well at 1,050 this morning but, so far, only picking up $200-400 as /TF bounces between 1,050 and 1,054.  Still, as long as that line holds – I like it for bounces and, if that fails, we tightly stop out and go back to 1,040 BUT, if that fails – RUN AWAY!!!

VIX WEEKLYThere are no bonus points for bravery in the stock market.  If you are losing money in your portfolio and you are not sure how to
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Comment by Phil

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  1. Phil

    SPY  5  MINUTEGood morning!

    Asia diving into the close – Nikkei down 2.2%, Hang Seng -1%, Shanghai -0.7%, India down 0.5% and Singapore down 1.16%.  

    Asian Stocks Head to Six-Month Low; Bonds Rise, Oil Drops. Asian stocks slid toward a six-month low and average bond yields for the biggest developed economies fell to a record on concerns that global growth is at risk. Crude oil extended declines as South Korea’s won led emerging-market currencies higher. The MSCI Asia Pacific Index sank 1.1 percent by 10:47 a.m. in Tokyo, as every major Asian benchmark gauge retreated.

    Commodities Sink to Five-Year Low Led by Metals Declines. Commodities dropped to a five-year low on growing concern that slower economic growth will cool demand in China, the world’s top consumer of metals, grains and energy. The Bloomberg Commodity Index (BCOM) of 22 raw materials fell as much as much as 1.3 percent yesterday to the lowest since July 2009. Copper futures dropped by the most since March on the Comex, while hog prices posted the biggest loss in 25 months. Raw materials slumped 7 percent this year, headed for a fourth annual decline and the longest slump since at least 1991, amid concern that economic growth is weakening as global equity markets lost $1.5 trillion last week. A stronger dollar has curbed demand for commodities as alternative assets.

    Sands China Fall as Macau Competition Hit High-end Margin. Sands China Ltd. (1928) led declines among casinos in Hong Kong trading as intense competition between the resorts hit margins for higher-stakes mass-market gamblers.

    IEV WEEKLYIt's Europe again, they started heading down as soon as they opened and have dragged our Futures back from about 0.5% gains back to flat.  

    At the moment, our Futures are at 16,042, 1,849, 3,748 and 1,068.  Oil still weak at $80.55, Dollar 85.13, gold $1,239, silver $17.43, copper BAD! at $2.995, nat gas $3.80 and gasoline


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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!

 
 

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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Zero Hedge

NYSE Gives Up Trying To Fix Itself

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

The NYSE has given up on re-opening the following 150 symbols in cash equities trading today... (including AAPL, XIV, and TVIX)

 

 

and here are the affected symbols...

 

That's great news...

...

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Chart School

Anticipating the 2015 Cost of Living Adjustment for Social Security

Courtesy of Doug Short.

Summary: Tomorrow the Social Security Administration will announce the 2015 COLA. A forecast based on data so far is 1.7%. But Q3 decline in energy prices strengthens the odds of a lower 1.6% adjustment.

Tomorrow the government will release the Social Security cost-of-living adjustment (COLA) for 2015. The adjustment will become effective with benefits payable for December but received by beneficiaries in January.

Although the first monthly Social Security payments were received in 1940, annual COLAs began being paid 35 years later in 1975. During 1975-82, COLAs were payable for June and received by beneficiaries in July. After 1982, COLAs were payable for December and received by beneficiaries in January.

How the Annual COLA is Determined

The adjacent table documents Socia...



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Sabrient

Sector Detector: Sharp selloff in stocks sets up long-awaiting buying opportunity

Courtesy of Sabrient Systems and Gradient Analytics

Last week brought even more stock market weakness and volatility as the selloff became self-perpetuating, with nobody mid-day on Wednesday wanting to be the last guy left holding equities. Hedge funds and other weak holders exacerbated the situation. But the extreme volatility and panic selling finally led some bulls (along with many corporate insiders) to summon a little backbone and buy into weakness, and the market finished the week on a high note, with continued momentum likely into the first part of this week.

Despite concerns about global economic growth and a persistent lack of inflation, especially given all the global quantitative easing, fundamentals for U.S. stocks still look good, and I believe this overdue correction ultimately will shape up to be a great buying opportunity -- i.e., th...



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Phil's Favorites

Goodbye War On Drugs, Hello Libertarian Utopia. Dominic Frisby’s Bitcoin: The Future of Money?

Courtesy of John Rubino.

Now that bitcoin has subsided from speculative bubble to functioning currency (see the price chart below), it’s safe for non-speculators to explore the whole “cryptocurrency” thing. So…is bitcoin or one of its growing list of competitors a useful addition to the average person’s array of bank accounts and credit cards — or is it a replacement for most of those things? And how does one make this transition?

With his usual excellent timing, London-based financial writer/actor/stand-up comic Dominic Frisby has just released Bitcoin: The Future of Money? in which he explains all this in terms most readers will have no trouble following. As ...



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OpTrader

Swing trading portfolio - week of October 20th, 2014

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

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Market Shadows

Falling Energy Prices: Sober Look takes a Sober Look

Falling Energy Prices: Sober Look takes a Sober Look

What do falling energy prices mean for the US consumer? Sober Look writes a brief yet thorough overview of the consequences of the correction in the price of crude oil. There are good aspects, particularly for the consumer, bad aspects, and out-right ugly possibilities. For more on this subject, read James Hamilton's How will Saudi Arabia respond to lower oil prices?  In previous eras, Saudi Arabia would tighten the supply to help increase prices, but in this "game of chicken," the rules m...



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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's this week's Stock World Weekly. Just sign in with your PSW user name and password. (Or take a free trial.)

#457319216 / gettyimages.com

 

...

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Option Review

Release Of Fed Minutes, Icahn Tweet Boost Shares In Apple

Shares in Apple (Ticker: AAPL) are near their highs of the session in the final hour of trading on Wednesday, adding to the muted gains seen earlier in the day, following the release of the September FOMC meeting minutes and after activist investor and Apple shareholder Carl Icahn tweeted, “Tmrw we’ll be sending an open letter to @tim_cook. Believe it will be interesting.” Icahn’s tweet hit the ether at 2:33 pm ET and was met with a spike in volume in Apple shares. The stock is currently up 2.0% on the day at $100.75 as of 3:15 pm ET.

Chart – Apple rally accelerate...



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Digital Currencies

Bitcoin Has Been Getting Obliterated

Joe has found a place for Bitcoins, and if you hold a lot of them, you won't like it.

Bitcoin Has Been Getting Obliterated

Courtesy of 

Remember Bitcoin?

There's not much to say about it, except that it's doing TERRIBLY.

Here's a chart going back to earlier this summer. Charts don't get uglier than this.

Bitcoinwisdom

Interestingly, the Bitcoin industry continues to be quite excited about the prospects for the digital currency, and there continue to be announcements about expand...



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Promotions

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When you register for the webinar, you’ll also get instant access to following trading videos:

  • Instant access to FOUR Quick-Start Expectancy...


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Pharmboy

Biotechs & Bubbles

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

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

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



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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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