GLD I took out my callers and rolled down my longs this morning, woo hoo!
You called all the trends and market movements with perfection this week. I enjoyed it! Thanks for keeping us sane!
Wishing Phil and all fellow PSW members a Happy, Healthy and Prosperous New Year 2017! Thanks to all of you for your insights and comments which help make me a better investor every day. Wishing everybody the best of luck for 2017
Phil: I have 263 positions - 70% in options ( balance stocks) in three portfolios with a value of 3 mil. YTD profit is about $750,000. Thanks!
Phil, I was so impressed with the personal note in the comments that I went ahead and paid for a months trial of premium that I have been on the fence for awhile about. Just reading the comments makes me already glad for the purchase.
Thanks for you guidance – Your "student" will be passing on the McMuffins and having Lobster dinners tonight!
I think that Phil is super, I am up 39.3% YTD. Thank you for your kindness and the opportunity to observe Phil from February.
Phil Thank you very much, I appreciate your help and wisdom.
Phil- I want to let you know that you really helped me make some money this morning when I probably would have lost on my own. I was stuck in doctors waiting rooms most of the morning starting at 8AM. By following the game plan you laid out and using my smartphone, I went short on oil whenever we got to 61.50 and long at 61 waiting for the spikes ahead of inventory. When 10:30 rolled around I was out after selling longs at 61.60 a few minutes earlier. I went short at 61.75-61.80 and voila, rode it down to 60.60 or so. Thank you.
Phil: I cleaned up today. A rather stark contrast to my untutored performance April/May 2009, after I had written to you to explain how wrong-headed your bearishness was. Many thanks.
I ran into someone once who played on the Bulls with Jordan for quite a few years. He was asked what he had learned from playing with MJ for so long. He smiled and said "Give him the ball."
Phil - I followed your great pick re F and sold short the 1011 2.50 puts (200 contracts) and paid for the next 10 years of membership fees…. Thanks!
Phil: Once again thanks for those inciteful comments, and the old links to Sage's portfolio management (I hadn't read before). I'm an experienced stock trader, but over the last 3 or 4 months have come to appreciate options trading here at PSW, and the consistency of your many premium-selling strategies. It is liberating to have to worry less about getting direction right and being able to generate 5% MONTHLY returns with close to delta-neutral positioning. Much appreciated!
Phil...The hundred grand portfolio updates are helpful...Fun ..and have been profitable...really like em... made some nice entries into USB, KEY today... and I better add those FAZ calls tomorrow... Really glad you put that up this morning...
Phil fantastic call on the markets… I owe you BIG…thanks and have a great weekend!
As a retired stockbroker from a major Canadian brokerage firm, I can tell you I would never had access to these type of trade ideas, especially the hedges.
Just closed out a July TZA 40/45 call spread today for a 271% gain in less than a month. I would have normally let that run but yesterday Phil commented to another member something to the effect that "you put down a $1 for a $5 upside, now that you are up 250% you have $2.5 in and you are hoping for a double."
Just closed out a USO July $38 put that Phil suggested yesterday for a 49% one day gain.
I want to thank you for sharing your wisdom with us. I've learned a lot (and still am) about your trading strategy, but also I see a man who truly cares about our country, America. Thank you.
I have definitely learned to take smaller wins early and be happy with that. Lately, I've aimed for $250 profit per day. Doing that daily/weekly x 48 weeks (assuming I take some time off) works out to 60k per year. That's a lot of money!! $250 moves happen all the time if you just wait for them.
Phil, i wanted to thank you again for helping me protect future stock allocations at work - finally, i feel like i am owning my own destiny with stocks vs. letting the market dictate what you get – thanks again.
Phil – Not that you dont usually, but you have DEFINITELY earned your money this week. THe recommendations have been PERFECT. Selling into the initial excitement (MULTIPLE TIMES), hedges, everything. Im reading this when I get home from work and want to cry b/c I cant trade at work! I might have to start getting up at 3 AM though to catch those trades bc youre killing it then too! May you and yours have a blessed weekend!
You guys gotta give it to phil–the voice of reason yesterday, last nite and this morning.
Best day ever trading the futures, thanks to Phil's excellent call this am, and his "play the laggard" instruction. Well done Phil!
Phil, You were on the $ today with your calls almost exactly on the turns – Krap kuhn krup (Thai for thank you very much).
I have been here a year, and made most of my money back from the 14K fall. The people here are more than willing to help whe Phil cannot get to it. FWIW - This site is my brokerage firm, I was with Wells Fargo Portfolio and it was costing a fortune to trade, the costs here are more than offset with the data, trade ideas and profits you should make.. and I get a chuckle out of Cap and Phil's rantings on healtcare, guns, oh, yeah, and government….
It is hard to learn the process that Phil teaches, but it is worth the effort. I think it is finally sinking in & so I say Thanks teacher for your patience & expertise! I've had a very good week so far & I know it is because of persisting in this learning process that you teach.
Joined last year and and started profitably trading options thanks to everything I have learned here. THANK YOU!!
Oil – thanks Phil,
got in late at 0.53 on the 38p today, set a sell for 0.75 and took the dog for a walk – 70% gain and more than enough $$ to buy dog food. TZA Aug 35/40 BCS – closed out for a 100% gain in under a month – thanks again for introducing me to these trades.
Have not done my 10,000 hours, but a couple of years at PSW, and moved from fishing with a single line to owner of a commercial trawler (metaphorically speaking). Now I fish with many lines. It is amazing when you go over the same information time and time again, eventually it clicks. Like planting trees; being the house, 20% sale items, selling into the excitement. and patience. I just sold an AAPL Jan 12 340/390 BCS financed by the sales of Jan 12 275 Put. The trade was put on one year ago for a net credit and exited five minutes ago for a 49 dollar per contract profit. No point in waiting till opex to see what happens, and I will just sell 10 of those VLO puts to make myself net the round 50.
I no longer worry about opex coming as I have adjusted well in time for most positions that go against me. I still make some howlers (RIMM, TBT, TRGT) but I play the percentages and my winners outdistance my losers by many miles.
I would never be in this position if it were not for Phil. He is a treasure, pure and simple. The goose that lays the golden egg if we care to listen and practice. Phil, a mighty big thank you.
I must add yet another paen to Phil's "cash and short" call, as my TZA shorts are past paying for Similac and Pampers and have now covered all doctors and Mt. Sinai hospital bills for young Charlotte, as TZA took the portfolio up 10%.
Thanks for the free disaster hedge ideas. I implemented variations of two of them on SDS bull call spreads and EEM bear put spreads (haven't done the TZA yet) and they really hedged my short term longs nicely today. Makes it seem a lot less like gambling.
You are the man (of the people)!
3 for 3! Sold on initial excitement and made a double on USO, 70% on AMZN and 70% on SPY options from Friday.
Thanks and much appreciated for the suggestions.
T – AT&T Inc. – Heavy trading traffic in AT&T put options today indicates at least one strategist is bracing for the price of the underlying stock to potentially slump to fresh 52-week lows during the next couple of months. Shares in AT&T, down more than 13% since late April, are off 0.80% on the session at $33.61 as of 12:15 p.m. in New York trading. The wireless carrier popped up on our ‘most active by options volume’ market scanner this morning after one strategist purchased roughly 20,000 of the Oct $31 puts for a premium of $0.25 apiece. The trade may be an outright bearish bet that shares in AT&T continue to fall in the near term, or could be a hedge to protect a long position in the underlying stock. The puts make money at expiration if shares in the telecommunications company drop 8.5% from the current price of $33.61 to breach the effective breakeven point on the downside at $30.75. The stock last traded below $30.75 in April of 2012.
HCP – HCP, Inc. – Options changing hands on healthcare REIT, HCP, Inc., on Wednesday morning look for shares in the name to rally during the next couple of months. The stock, down more than 20% from an all-time high of $53.06 reached in May, trades 0.80% higher on the session at $40.30 as of 11:40 a.m. ET. Trading traffic in HCP call options indicates some traders are positioning for the price of the underlying to rebound. The most actively traded contracts by volume today are the Oct $45 strike calls, with more than 5,000 call options in play against open interest of 1,902 contracts. It looks like much of the volume was purchased for an average premium of $0.22 apiece, thus positioning buyers to profit…
ABC - AmerisourceBergen Corp – Shares in AmerisourceBergen are up 2.4% today and nearly 30% year to date, but options in play on the stock suggest one or more traders are bracing for the price of the underlying to potentially pull back during the next couple of months. Shares are currently hovering around $55.00 as of 12:45 p.m. ET, helped higher by an upgrade to ‘Outperform’ from ‘Market Perform’ at Leerink Swann yesterday. The most actively traded options on ABC are the Aug $50 puts, with upwards of 18,000 contracts traded thus far in the session against open interest of just 160 contracts. Time and sales data suggests much of the volume was purchased for an average premium of $0.88 each, thus positioning buyers to profit should shares in ABC drop more than 10% from the current level to breach the average breakeven point on the downside at $49.12 by August expiration. Shares in AmerisourceBergen last traded below $49.12 in March.
VNDA - Vanda Pharmaceuticals, Inc. – Far out of the money call buying on Vanda Pharmaceuticals today indicates some traders are positioning for shares in the name to extend gains in the near term, with the stock up more than 18% on the session at a new three-year high of $11.94 as of 12:30 p.m. ET. The stock moved up sharply today after hedge fund, Baker Bros. Advisors, LLC, disclosed in a 13G filing a 13.99% stake in the company, roughly double the number of shares held by the fund as of the end of March 2013. Shares in VNDA have rallied approximately 120% since mid-May. Options players betting the price of the underlying has more room to run ahead of June expiration snapped up several hundred calls at the Jun $13 and $14 strikes on Tuesday morning. It looks like traders picked up around 500 calls at the $13 strike for an average premium of $0.65 each, and purchased some 300 lots at the higher $14 strike at an average premium…
DMND - Diamond Foods, Inc. – Bullish options in play on the maker of Pop Secret® popcorn and other packaged consumer food products look for shares in Diamond Foods to rally in the near term. Shares in DMND are up 2.8% at $16.70 as of 12:45 p.m. ET, moving higher ahead of the company’s third-quarter earnings report after the closing bell. The stock is off its 2013 high of $17.99 reached back in March, but is still at a more than 20% premium to where the shares closed on December 31st of last year. Despite the recent rally in the stock, shares in the name are still down more than 80% since September of 2011. Traders positioning for shares to rally snapped up Jun $17 strike calls straight out of the gate this morning, picking up around 3,000 contracts for an average premium of $0.65 apiece. Call buyers may profit at expiration should the price of the underlying rise 5.6% over the current price of $16.70 to top the average breakeven point at $17.65.
XLB - Materials Select Sector SPDR ETF – Shares in the XLB are up 0.55% at $40.38 on Monday afternoon, rebounding somewhat after last week touching down to the lowest level since May 2nd. Options changing hands on the Materials Select Sector SPDR ETF early in the session suggest some traders are positioning for the price of the underlying to decline during the next few months. Upwards of 10,000 puts traded at the Sep $40 strike versus open interest of 3,942 contracts this morning, with much of the volume purchased for an average premium of $1.67 each. The largest print was the purchase of a block of 6,000 of the $40 puts at a premium of $1.68 per contract. Put buyers stand ready to profit at September expiration should the price of the underlying fund decline 5.0% from the current level to trade…
DMND - Diamond Foods, Inc. – Call options on Diamond Foods, Inc., are changing hands at a clip this morning, amid a strong rally in the price of the underlying on above-average volume in the stock. Shares in the nut producer increased as much as 12.8% on Monday morning to $16.25, the highest level since mid-November. The stock currently trades up 10% on the session at $15.85 as of 11:55 a.m. ET. Traders positioning for shares in the name to extend gains this week snapped up bullish options on the stock. The Feb. $16 strike calls attracted the heaviest volume, with upwards of 4,100 calls in play versus open interest of 1,063 contracts. Time and sales data suggests the bulk of the $16 calls were purchased for an average premium of $0.23 apiece. Call buyer stand ready to profit at expiration in the event that Diamond’s shares rally another 2.4% over the current price of $15.85 to exceed the average breakeven point at $16.23. The higher Feb. $17 strike calls are also active today, with nearly 700 lots in play against open interest of 15 contracts. Traders paying an average premium of $0.15 apiece for the $17 strike calls profit at expiration this week as long as DMND shares rise 8.2% from the current level to top $17.15.
NVO - Novo Nordisk A/S – Shares in Danish drug maker, Novo Nordisk, are down 13.9% to stand at $165.58 as of 11:30 a.m. ET on Monday morning on concerns the U.S. Food and Drug Administration’s request for more data on two of Novo’s products will significantly delay the release of those drugs in U.S. markets. Options on the largest maker of insulin are more active than usual today, with volume topping 1,430 contracts during the first half of the trading session versus average daily options volume of around 225 contracts. Put selling on the stock suggests some traders expect the selling pressure to subside, at least in the near term. Upwards of 230…
DMND - Diamond Foods, Inc. – Shares in Diamond Foods fell more than 11% on Monday morning to an intraday low of $13.12 following the company’s fourth-quarter earnings release after the closing bell on Friday. The stock last month slipped to $12.85, the lowest level since the company revealed it must restate two years of earnings, lost its bid to purchase the Pringles brand, and replaced top executives. Options on the maker of Emerald nuts and other consumer food products are far more active than usual today, with some positions looking for shares in the name to slump to fresh lows and others preparing for a near-term rebound in the price of the underlying. The put-to-call volume is hovering around 2-to-1 just after midday in New York, and the bulk of trading traffic is in the weekly contracts. Traders exchanged more than 3,350 of the Dec. 14 ’12 $13.5 strike puts this morning, buying most of the contracts for an average premium of $0.58 apiece. The $13 strike weekly put options attracted heavy volume as well, with some 1,700 lots in play versus zero open positions. Traders buying the $13 strike contracts paid an average premium of $0.34 per contract in the early going, and stand ready to profit at expiration in the event that Diamond’s shares decline 6% from the current price of $13.48, to trade below the breakeven point at $12.66. Meanwhile, fresh interest in the Dec. 14 ’12 $13.5 strike calls today indicates some traders may profit from a near-term pop in the share price. Upwards of 3,900 of the $13.5 strike calls have changed hands as of 12:30 p.m. ET, and it appears much of the volume was purchased for an average premium of $0.40 apiece. Call buyers make money if shares in Diamond Foods settle above the average breakeven price of $13.40 at expiration.
IR - Ingersoll-Rand PLC – Options volume on industrial machinery maker, Ingersoll-Rand, rose well above the stock’s daily average this morning due to heavy trading…
The former Vice-Chairman of Goldman Sachs (Draghi) says everything is fixed and the global markets go flying – what's not to trust? Would anyone form GS ever lie to us? Would GS be involved in manipulating the Global Markets – of course not!
Now that I've fulfilled my obligation to get my mother back unharmed – let's get real. Draghi said the violent spike in bond yields in recent days was hampering "the functioning of the monetary policy transmission channels" – the EXACT expression used to justify each of the ECB's previous market interventions.
Yields on Spanish two-year debt plunged 72 basis points to 5.47% in barely an hour, with comparable moves on Italian debt – easing the pressure before a string of debt auctions in Rome over coming days. The MIB index of stocks in Milan surged by 5.6%. Madrid's IBEX rose 6%, the biggest jump in two years, led by an explosive rise in bank shares. Mr Draghi's comments came as Spain claimed backing from France and Germany for activation of the eurozone's rescue fund (EFSF) to buy Spanish bonds, though this would require calling the Bundestag's finance committee back from holiday for a vote. Action by the EFSF would provide "political cover" for the ECB to join the fray in a two-pronged attack. "We're firing on all cylinders: that is what has ignited the markets," said Hans Redeker, currency chief at Morgan Stanley.
Joint statements from Madrid, Paris and Berlin said market turbulence "does not reflect the fundamentals of the Spanish economy, or the sustainability of its…
It might be a little early because we did get another $267Bn from the Fed yesterday but that plus $125Bn given to Spain and $100Bn to the IMF this month is "just" $492Bn and that, according to our calculations, should be good for 1,350 on the S&P, tops. If they want to get to 1,400 – they'll need another $500Bn from Europe and, while it is widely expected to come – the Fed came up short and if the EU comes up short as well, we could be talking flash crash so we took advantage of the pre-Fed run-up (as planned in yesterday's post) to get back to cash.
I don't know if you guys usually click on my little links but this one was the most important of the day – Don't be white people – GET OUT!!!!
This one was so important that I tweeted it (you can follow me here) and Facebooked it (you can follow us here) and I even put it out on Seeking Alpha's Stock Talks (you can follow me here) so don't say I didn't warn you. Sure the market may go up as funds dress windows into the end of the Quarter/Half next week but we caught the run off the bottom this month so why push it when the upside looks limited and the downside does not?
Other than 2014 spreads in our new Income Portfolio – all of our virtual portfolios went to cash rather than risking very nice first half gains. As of yesterday morning they were:
Much thanks to StJ for keeping these tracking portfolios – all back to cash now and hopefully we can match that performance in the second half of the year although I think we're going to ditch the very boring $5,000 Portfolio in favor of a $25,000 Portfolio…
As you can see from the Big Chart, we are testing the 50 day moving averages on the Dow (12,746), S&P (1,347), Nasdaq (2,920), NYSE (7,756) and the Russell (781) IF all goes well and we move up from here. The Dow is already over and the S&P and Russell are close so we'll be watching them closely this morning to see if we should stay bullish or cash out our winners while we wait for some actual bullish news – because the rumors that are driving us higher so far are running out of steam.
The G20 meeting drags on in day 2 and we await their announcement. China dropped $43Bn into the IMF last night and India, Russia, Brazil and Mexico will also commit $10Bn EACH for another $40Bn and that brings the IMF's war chest up to $456Bn. Even Turkey put up $5Bn – we're talking about an all-out Global effort here so we expect A LOT more from the big guns.
Let's not dwell on what it means that Turkey has to bail out Europe and instead focus on Christine Lagarde's statement that the commitments demonstrate "the broad commitment of the membership to ensure the IMF has access to adequate resources to carry out its mandate in the interests of global financial stability." So now it's up to the G20 and that means it's up to Merkel today and Bernanke tomorrow.
Merkel faces mounting pressure to make even greater concessions, by putting Germany's financial muscle behind an integrated banking and borrowing system to keep the euro intact. The question is whether, after two years of muddling through, Europe's pre- eminent power can act quickly and decisively. "I think she will remain an incrementalist: we have not yet reached the point where it is obvious that we are hanging over the precipice," said Paul de Grauwe, a professor at the London School of Economics. "It looks again that what is going to come out is going to temporarily pacify markets until it is clear that it is not going to be sufficient."
For those of you who don't speak Economics – "not going to be sufficient" = DOOM!!!
All of our global indexes are on quite a tear in anticipation of more bailouts/QE from the G20 this week. If we don't get it – prepare for…
Until the end of day, the volume was low and, as you can see from Dave Fry's SPY chart, the morning pump was mostly erased by the end of the day. In fact, on the Russell and Nasdaq – it was entirely erased. What a friggin' joke, yet no one will investigate it and few will even question it.
As we often say at PSW – We don't care IF the game is rigged, as long as we know HOW the game is rigged and get to place our bets accordingly. In my Morning Alert to Members at 10:05, my comment on the move up was:
Not too many markets are open so super low-volume means we can pretty much ignore whatever's happening. Some wild gyrations at the open already with AAPL popping $10 to goose the Nas and they are spiking us up and down at will on this low volume.
At 12:02 we made our planned adjustments to our 4 active virtual portfolios, taking advantage of the big, bad spike to move to cheap June bear positions and cash out our long plays and just get generally more aggressively bearish at what we thought was going to be the top for the day. The most aggressive move was made in our most aggressive, $25,000 Portfolio (pictured here from its 10am status BEFORE many changes were made), where we flipped our protective TNA hedge from bullish to very bearish – shifting the balance of the portfolio much more bearish with a single move:
TNA – $60s are now $4 so let's take that and run on 5 (1/2), as that's more than we paid for the spread and we'll ride the $63s half-covered with a stop on 5 at $3 (now $2.25). Also, a stop on the 5 remaining $60s at $3, at which point we would reset the stop on the $63s, of course.
Needless to say, that trade worked out huge already as the $60s all stopped out at a $3.50 average ($3,500), which is $500 more than our max potential gain on the spread and the $63 calls already finished the day at $1.10 ($1,100) for a net of $2,400 (so far) off our $1,450 entry on 4/26 – so up 65% in less than a week on the trade we used to…
Why do we scream at each other
This is what it sounds like When doves cry – Prince
It's no coincidence that this week we will be hearing from Fed Governors Kocherllakota (1pm Tues), Hoenig (12:30 Weds), Plosser (1:30 Weds), and Bullard (9:15 Thurs) ahead of our 2-Year Note Auction (1pm Tues), 5-Year Note Auction (1pm Weds) and 7-Year Note Auction (1pm Thursday) as the Fed needs to bring out 4 of it's 5 most hawkish members to talk up the Dollar (by talking down QE3) to keep those rates paid as low as possible for Treasury.
Once the Hawks drive the rates down and the notes are sold, the Doves will once again be released to talk them back up by extolling the glories of QE3 – completely reversing whatever was said before just as the Hawks will once again be called upon to reverse what the Doves say at a later date – when they need rates to come back down. The joke of it all is that traders will react to each statement, every time, as if it's a "game changer" and adjust their positions to reflect the new reality of the moment. It reminds me of a quote from Orwell's 1984:
As soon as all the corrections which happened to be necessary in any particular number of The Times had been assembled and collated, that number would be reprinted, the original copy destroyed, and the corrected copy placed on the files in its stead. This process of continuous alteration was applied not only to newspapers, but to books, periodicals, pamphlets, posters, leaflets, films, sound-tracks, cartoons, photographs – to every kind of literature or documentation which might conceivably hold any political or ideological significance.
Day by day and almost minute by minute the past was brought up to date. In this way every prediction made by the Party could be shown by documentary evidence to have been correct, nor was any item of news,
In the first round of voting Sunday night, Hamon was first with 35.2 percent with Valls on 31.6 percent, with about one-third of voting stations reporting, the primary authority said. Former Industry Minist...
Markets "bought" the election. Now the question is whether they will sell the inauguration. That is the take from the latest weekly letter by Goldman's chief strategist David Kostin, who says that "investor angst is high." Kostin then explains the one-word reason behind such confusion and angst - take a wild guess what it is. Which is ironic, because while on one hand investors and strategist are losing sleep over Trump policy uncertainty, on the other hand, every single one of them is convinced that Trump will unleash massive stimulatory tax cuts and hundreds of billions in fiscal stimulus with effectively no risk.
FInally, the Goldman strategist reveals what Goldman believes is the best investing strategy for a Trump presidency...
By PeakProsperity. Originally published at ValueWalk.
James Howard Kunstler returns to the podcast this week, observing that despite the baton being handed to a new American president, the massive predicaments we face as a society remain the same. And it seems the incoming administration is just as in denial of them as the old.
Kunstler adds fresh critique to his now decades-old warning that we are sleepwalking our way deep into the Long Emergency. The longer we delude ourselves and waste our energies in...
US stocks up, gold and silver near multi-week high. Protesters and police face off at Trump inauguration. Brexit process begins. Earnings season starting well for banks and miners. Global debt continues to soar, especially in China. Fake news debate rages. Trump and Merkel trade insults.
When it comes to the future of bitcoin, the "holy grail" has emerged as becoming the first to have a bitcoin ETF approved by the SEC.
Over three years ago, in 2013, the company of the Winklevoss twins, Cameron and Tyler, Winklevoss Capital Management LLC, launched the first proposed bitcoin ETF, the Winklevoss Investment Trust, looking to trade on the HFT-dominated BATS exchange. The SEC is expected to make a decision on it by March. A second group, SolidX Partners followed last July seeking SEC approval for its bitcoin ETF, SolidX Bitcoin Trust, which also would be listed on the NYSE....
Consumer Confidence of late has continued to move higher, now reaching above the highs hit back in 2007. Long-Term S&P 500 returns are far below historical norms, when confidence is this high. We are not saying that high consumer confidence means the market is at a top!
Below is a look at the Advance/Decline line on a short-term basis.
CLICK ON CHART TO ENLARGE
Joe Friday Just The Facts; It could be important for support to hold, of this bearish rising wedge above.
Once again it's "in the Toilet Thursday" or "Thursday's in the Loo".
In our last episode, How to Poop On A Date? we were graced with a delicate shituation: what ever to do when your finally back at her place, snuggling in for a little "brown chicken brown cow" and you get hit with "Love Potion #2".
This week in How to Poop At Work? ,what to do when your at a big fancy pants meeting, when out of nowhere, you need to download a brown load?
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.
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Sam Brownback, the Kansas governor whose tax cuts brought him political turmoil, recurring budget holes and sparse evidence of economic success, has a message for President-elect Donald Trump: Do what I did.
In 2013, Mr. Brownback set out to create a lean, business-friendly government in his state that other Republicans could replicate. He now faces a $350 million deficit when the Kansas legislature convenes in January and projections of a larger one in 2018. The state’s economy is flat and his party is fractured...
Come join us for the Phil's Stock World's Conference in Las Vegas!
Date: Sunday, Feb 12, 2017 and Monday Feb 13, 2017.
Beginning Time: 8:00 am Sunday morning
Location: Caesar's Palace in Las Vegas
Caesar's has tentatively offered us rooms for $189 on Saturday night and $129 for Sunday night. However, we have to sign the contract ASAP. We need at least 10 people to pay me via Paypal or we may lose the best rate for the rooms. (Once we are guaranteed ten attendees, I will put up instructions to call the hotel for individual rooms.)
Note: The material presented in this commentary is provided for
informational purposes only and is based upon information that is
considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW)
nor its affiliates
warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
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