10/15/2014: Phil…..been travelling more than not but reading and watching you guys every night. This is to say a big thank you. Even though I don't have the time to trade every day now I set up hedges and base long term strategy on PSW. I now it may sound like BS to some readers but my 401k is down a mere 3%. It hardly gets my attention when I open my brokerage portfolio accounts. And that is by using your longer term hedges and strategies. I don't need to be a day trader to take advantage of PSW. At this time in my life when I cant trade every day……. not losing what we've gained moves front and center. It's just a great feeling to watch your brokerage account hold steady in a sea of red. Thanks Teacher.
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...
The wonderful resource that Phil has created for us and nourished by its members is so powerful in what it can teach us going forward, but also what we can learn from the past. I never say it often enough, but Phil – thanks for all the work you do for us.
Phil/ Thanks to your obsessive bearish anxiety over the last few weeks, I made money on the long side this month, phased gradually to bearish, came in net short today and managed to make money both long and short all week, ending today [and each day this week] in the green. I don't know how you do it, but thank you.
I love it when a trade really comes together. After 4 DD's and a roll, I cashed out 16 times my initial position in TLT today for a 140% gain. Thank you Phil for the lessons in scaling in, and paying for position.
I discovered PSW while reading up on the US economy and how it applies to all the poor folk of the world and to myself as a humble UK desk slave.
This year I put time into learning options trading. I upgraded (with great administrative difficulty!) my stock dealing account to deal options. Now I am an avid reader of PSW and subscribed for voyeur membership. Initially feeling out of my depth struggling to keep up with the peculiar language of options traders, I unsubscribed feeling a little under confident and uncertain if the small stake I have to invest in options could generate enough to justify my PSW subscription. Nevertheless, I've benefited considerably from the member's material. From a small number of initial trades, I've exceeded profit targets enough to consider re-subscribing in some capacity. Thanks for the knowledge and more than anything I appreciate the human angle, the humour and the ecologically sympathetic approach rarely seen in other financial media. Best wishes all - Jon
Phil: UNH, hedged stock position, doing great, up over 50 %,
/NKD- Kownichiwa Cowboy!! One week of patience and scaling in and out pays off. This is a testament to Phil's fundamental analysis with the PSW technique. Thanks Phil.
It is amazing how much confidence you engender, Phil………..I knew the 1% a day trades and repeated often were possible as I had done in stretches, and I knew kill zone trades were also possible and 5% to 10% returns per month were very possible with practice, experience and smart risk management all without having to take a lot of risk, but I guess I was talking to the disbelievers and since I have dropped them into my 'why bother to try to explain it' file and come over to the dark side at PSW I feel soooo much more content not only with the returns, but with the company and a comments and the obvious opportunity to learn and learn and learn some more.
It all helps the mental and emotional discipline of the trading too. So thanks again.
WOW!!!!!!!!!!!! How will I ever do anything else in my life that will compare to the wild ride you get trading an ultra etf in the most volatile sector in the stock market the day before option expiration?
The best play I made this year was PSW. Will renew my membership tonight. Looking for the same trading profit percentages next year, but will have an advantage from the compounding, and much better skills acquired from you and the many skilled PSW co-pilots. 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.
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.
Thanks super helpful re: UGN example…..other inflation/market-correction-defensive-related play you threw out that has jammed UP in less than a month is TITN 6/14 $15 puts, up 40%. Excuse my enthusiasm but haven't had those types of gains in multiple plays in years let alone days doing it on my own…….maybe I should host the PSW infomercial!!!!
I am struck by several things over the last few days. First is how level-headed we all are as Greece and China develop. Second is how very helpful it is to see the different trading styles we have, partly because of personal preference and partly because of different stages of development and education. It's very helpful. Well-done, Phil, to have developed this community.
Hey I just did a nice options trade on LL for $800 (50%) gain thanks to this site, so… not bad for my first day! An hour of reading you guys and I already paid for two months subscription! Thank you!
Phil - It is nice being more discipline with my trading. Generally, I am out earlier than most, but my results, overall, are much better than they were when I was trying to squeeze 80 cups of lemonade out of one lemon! On the other side, I am learning the value of rolling and turning losses into non-losses or small gains. I so appreciate the time you have spent with me and others who have benefited greatly from your knowledge. Thank you!
I have been a member for over six years and I still learn something new every day. This site gives you the skills to trade without having to be spoon fed. More importantly it teaches you about risk which is WAY more important than profit. Honestly, it is not a get rich quick scheme!
Thanks for the heads up on the comming sell off on friday, and the bs job yesterday. your our guiding light!
Phil I must say that it was really nice to have a portfolio that was looking very stable in the face of a rough day for the markets. I ended the day up 0.3% which includes another successful day of futures trading. So with a portfolio of mostly cash, a few of our faves like Apple and LL, JO, TOL, DIS, etc., along with a couple of hedges that paid off nicely today, and my futures trades, I never had to break a sweat during that madhouse today. Yes, by George (or Phil), I may be learning this system!
Thank God for Phil.
A few months ago (April) I didn´t even know what hedging was, and someone recommended I should check out some of Phil´s plays, especially on the retirement portfolio. When I first started to read it, none of it made a blind bit of sense to me, but I stuck with it and gradually began to work through some of the trades to see how it worked. Now I am putting on 5:1 SPY backspreads combined with bear put spreads, entering and leaving positions after consulting the VIX, and engaging in other esoteric maneuvers that are keeping my portfolio above water.
Its been a "perfect" month. Every stock I wrote calls against looks like it will be called away next week, every put I wrote will expire worthless. Thanks Phil, now I need some new buy/write candidates, or the new 100K portfolio….
You called all the trends and market movements with perfection this week. I enjoyed it! Thanks for keeping us sane!
Phil has some great insight into the market. He's given me a different perspective on the market and I know I'm a better trader/investor because of it.
I've been trading options since the late 80's and Phil is right. Unless you know what is going to happen (how can you, unless you have insider information), then do what the smart money does - be the house. Remember guys, we're allowed to sell options. If you're afraid to be short, then do a spread to limit your liability. When I think about the money I've made and lost on options, a good approximation is that I win 30% of the time when I do a straight buy; I win about 70% of the time when I do a spread; I win nearly 90% of the time when I sell naked.
Hey Phil – I ignored your call to sell those AAPL $580s for $1 so not sure whether to thank you or not (just kidding) for my $5 winner. Actually I want to thank you from the bottom of my heart, that was an uncanny call.
Phil: That NFLX call was awesome. The speed at which NFLX options decayed was precipitous. The blow out spike that allowed me to double and roll my callers to 190(!) and the ridiculous 170 weeklies @3.50 a day away from Op-Ex. The gains I realized in that trade floored me when I took a long at my portfolio value on Friday. What a great way to start the 3rd Quarter.
Phil - Thanks for the welcoming gift of the POT at a buck
Just paid for this month and my membership is not even 24 hours old!
looking forward to many more - bk
I'm just starting my second year as a member, and I'd like to thank all of you for sharing your trading ideas and insight, and especially Phil of course for great all-around investing advice as well as trades! In addition to learning patience and profit-taking, I think one of the most important things I'm learning here is to stick to stocks and trades that suit my temperament. And wow, I had NO idea how hard it was to learn patience. I should say "practice" instead of "learn", because it seems to be a constant struggle. Phil, please keep reminding us how nice CASH is!
Well that was a fun day. Cashed out my GS 140 calls for about 35% profit and my AAPL calls for 38% gain. Not bad for 40 minutes of work. Back to 85% cash.
Phil I have been applying your arsenal (matresses, Edz plays, Ugl verticals etc.) to my gold holdings . So a big thank you for "teaching me how to fish" rather than just giving me the fish...
Shares in Ford Motor Co. (Ticker: F) are in negative territory on Tuesday afternoon, though off the lowest level of the session, following the release of June sales data. The stock is roughly unchanged on the day at $17.20 as of 1:40 pm ET, recovering from an earlier intraday low of $17.07. Trading in weekly options contracts expiring 11Jul’14 on the automaker this morning suggests one or more traders are bracing for shares to potentially extend losses during the next seven sessions.
The most traded contracts expiring 11Jul’14 are the 17.0 strike puts, with volume exceeding 11,000 contracts versus open interest of around 1,400 contracts. It looks like most of the volume was purchased within 15 minutes of the opening bell today at a premium of $0.11 each. The put options may be profitable at expiration next week if shares in Ford drop 1.8% from the current price of $17.20 to trade below the effective breakeven point at $16.89.
F – Ford Motor Corp – Shares in the automaker rallied to a new 52-week high on Thursday, trading up as much as 2.8% to $18.01 in the early going after the company reported third-quarter earnings that beat analyst estimates and raised its guidance for the full year.
Some options traders appear to be positioning for shares in Ford Motor Co. to extend gains in the near term, snapping up cheap out of the money call options expiring one week from tomorrow. Upwards of 2,900 of the Nov 01 ’13 $18.5 strike calls changed hands during the first hour of the trading session against open interest of 966 contracts. Time and sales data suggests most of the volume was purchased at a premium of $0.05 each. Call buyers stand ready to profit at expiration next week in the event that Ford’s shares rally 3.0% over the morning’s fresh 52-week high of $18.01 to exceed the effective breakeven point at $18.55.
Overall options volume on Ford is running above average today, with roughly 104,000 contracts traded so far today as compared to the stock’s average daily options volume of around 71,500 contracts as of 11:10 a.m. ET.
ASTX – Astex Pharmaceuticals Inc. – Options volume on Astex Pharmaceuticals is soaring on Wednesday afternoon following a story in the Nikkei newspaper that said Otsuka Holdings Co., Ltd. has agreed to acquire Astex for JPY 90 billion. Shares in ASTX rallied as much as 40% this afternoon to a multi-year high of $9.39 and sent options volume on the name up above 23,000 contracts by 3:10 p.m. ET versus the stock’s average daily volume of around 3,600 contracts. Options volume is most heavily concentrated in the September expiry contracts. Buyers appear to be stepping in to buy both the Sep $8.0 strike call and put options, which have traded roughly 2,300 and 4,000 times each, respectively, as of the time of this writing. Substantial volume is also building in the $9.0 strike calls expiring in September and October, with volumes topping 3,400 and 2,400 contracts in each case. Shares in ASTX are currently off the highest levels of the day, up 24% at $8.29.
TPX – Tempur Sealy International Inc. – Trading traffic in options on mattress maker Tempur Sealy International suggests options players are looking for the price of the underlying to edge higher during the next couple of weeks. Shares in the name are up 4.6% right now to stand at $41.58, and earlier traded up to $42.57, the highest level since July 25th. The most traded contracts on TPX today are the Sep $43 strike calls, with more than 2,900 contracts exchanged versus open interest of 375 contracts. Time and sales data suggests most of the call options were purchased for an average premium of $0.97 each, though the bulk of the volume – close to 2,000 lots – were picked up by one market participant at a premium of $1.00 apiece. Sep $43 strike calls purchased at $1.00 per contract may be profitable at expiration if shares in Tempur Sealy rally 5.8% over the current price of $41.58 to top the breakeven point at $44.00.
GNW - Genworth Financial, Inc. – Shares in Genworth Financial increased as much as 11.2% in the early going on Monday, touching a fresh 52-week high of $10.94 on the back of an upgrade to ‘sector outperform’ at Scotia Capital. The insurer’s shares have increased more than 30% since the beginning of March as investors position for the provider of mortgage guaranties to benefit from strengthening in the U.S. housing market. One options combination strategy initiated on Genworth this morning looks for shares in the name to potentially rise another 35% by September expiration. The trader appears to have sold roughly 5,400 put options at the Sep. $9.0 strike in order to offset the cost of purchasing a 5,400-lot Sep. $12/$15 strike call spread. Net premium required to initiate the bullish play netted out to zero, thus positioning the strategist to profit in the event of a near 10% upside move off today’s high of $10.94 to exceed $12.00. Maximum potential profits of $3.00 per contract are available on the position should GNW shares surge 37% to $15.00 by September expiration.
EZCH - EZchip Semiconductor Ltd. – Put options on the maker of Ethernet network processors are active this morning after Kerrisdale Capital announced a short position in the stock, sending shares in EZchip Semiconductor down more than 8.0% in the early going to an intraday low of $21.80. The shares have since rebounded sharply to trade up 0.50% on the session at $23.90 as of 12:35 p.m. ET. The most actively traded contracts on EZchip today are the Mar. $22 strike puts, with upwards of 6,200 lots in play versus open interest of 211 contracts. Time and sales data suggests most of the volume was purchased at an average premium of $0.38 apiece. The intraday recovery in shares of EZchip has not been kind to buyers of the $22 strike puts, with premium on the contracts roughly halving to $0.20 each by 12:45 p.m. ET. Traders long the $22 strike put…
F - Ford Motor Co. – What appears to be a large one-by-three ratio call spread on Ford suggests one options market participant is looking for sizable, albeit limited, gains in the price of the automaker’s shares during the next five weeks. Ford Motor Co. shares are currently up 0.45% at $11.54 as of 12:55 p.m. ET. It looks like the options player purchased 25,000 calls at the Jan. 2013 $12.5 strike for a premium of $0.12 apiece, and sold 75,000 calls up at the $14 strike at a premium of $0.02 each. Net premium paid to establish the position amounts to $0.06 per contract and may be profitable in the event that Ford’s shares rally 9% off the current price to exceed the effective breakeven point at $12.56. Maximum potential profits of $1.44 per contract are available on the spread should shares in Ford jump more than 20% to settle at $14.00 at expiration next year. Shares in Ford last traded above $14.00 back in July 2011.
YMI - YM Biosciences, Inc. – Shares in the drug development company are up nearly 80% today at $2.89 after Gilead Sciences, Inc. agreed to purchase the Canadian biotechnology company in an all-cash deal valued at $510 million or $2.95 a share. Traders who purchased upside calls on YM Biosciences ahead of the deal saw the value of their contracts rise sharply along with the price of the underlying shares this morning. YMI call selling in the early going may be the work of traders taking substantial profits off the table. Time and sales data for transactions in the Dec. $2.5 strike calls back in November suggests traders purchased most of the 2,043 open contracts for an average premium of $0.05 apiece last month. The sale of at least 1,600 now in-the-money Dec. $2.5 strike calls this morning for an average premium of $0.40 each may mean traders are banking hefty gains that amount to eight times the original investment. Open interest in YMI options is largest in the Jan. 2013 $2.5…
LVS - Las Vegas Sands Corp. – Casino stocks are popping today in sympathy with Wynn Resorts Ltd. after that company posted better-than-expected third-quarter earnings, announced plans to double its regular quarterly dividend and declared a $7.50 a-share special cash dividend. Las Vegas Sands Corp., which is scheduled to release third-quarter results tomorrow, rallied as much as 4.5% on Thursday morning to hit $46.30 in the early going. One options player appears to be positioning for further near-term upside with the purchase of a bull call spread in the newly issued weekly options that expire one week from tomorrow. It looks like the trader purchased a 400-lot Nov. 02 ’12 $47.5/$50 call spread for a net premium of $0.54 per contract. The strategy makes money if shares in LVS increase 5% from the current level of $45.70 to top the effective breakeven point at $48.04, with maximum potential profits of $1.96 per contract available on the position should shares surge 9.4% to hit $50.00 by expiration next week.
CROX - Crocs, Inc. – Shares in plastic-clog maker, Crocs, Inc., are getting slammed today after the company’s fourth-quarter top and bottom line estimates came in lower than analysts expected. The stock is down more than 20% at $12.89 as of 12:05 p.m. in New York. Crocs reported better-than-expected third-quarter profits after the final bell on Wednesday, but missed expectations for revenue in the quarter. Front month put activity on CROX this morning suggests one or more traders are holding out hope for a mild recovery in the shares in the near term. The sale of around 1,800 puts at the Nov. $13 strike provides an average premium of $0.32 per contract to sellers, who keep the full amount of premium as long as shares in the shoe maker exceed $13.00 at expiration next month. The puts were sold within the first couple of minutes of the opening bell this morning…
PG - Procter & Gamble Co. – Consumer products giant, Procter & Gamble, is trading higher today in advance of the company’s first-quarter earnings report ahead of the opening bell on Thursday. Shares in P&G are currently up 1.25% to stand at $68.28 as of midday in New York. A sizable ratio put spread initiated on the stock this morning indicates one strategist is prepared for limited bearish movement in the price of the underlying through year end. It looks like the trader purchased 2,000 puts at the Dec. $67.5 strike for a premium of $1.22 apiece and sold 4,000 puts at the lower Dec. $65 strike at a premium of $0.56 each. Net premium paid to establish the position amounts to $0.10 per contract and provides downside protection – or profits – beneath a breakeven share price of $67.40 through December expiration. Maximum potential profits of $2.40 per contract are available on the ratio spread should P&G’s shares slide 4.8% from the current level to settle at $65.00 at expiration. Shares in Procter & Gamble last traded at $65.00 in the first week of August.
F - Ford Motor Co. – Shares in the automaker tacked on 1% this morning to stand at $10.10 by 10:50 a.m. ET on reports the company plans to close its last remaining vehicle-making plant in the United Kingdom. Near-term bullish positioning in Ford options straight out of the gate this morning suggests some traders anticipate further gains in the price of the underlying during the next couple of trading sessions. The most heavily trafficked of the Oct. 26 ’12 options contracts are the $10 strike calls, which changed hands more than 7,800 times against open interest of 2,843 lots. It looks like most of the in-the-money calls were purchased in the first 10 minutes of the trading session at an average premium of $0.17 apiece, thus preparing buyers to profit at expiration…
Who said investing is hard? 4 of our 5 major indexes fall in synch and stop dead at the 50 day moving average that we've been watching on our Big Chart for over two months now as bullish support. Yawn…
Of course, if you think this can possibly be result of individual decisions made by millions of global investors than it's you that need to wake up. This is a completely machine-driven market and that's a GOOD thing if you follow our charts, as they give you very clear indications of all the major inflection points.
I'm not at all a TA guy – I merely accept the fact that the markets are fixed and the moves are coordinated and we set our points accordingly according to our 5% Rule, which works best in Bot-driven markets. Since we only adjust our Big Chart once a year or less – it lets us dispense with all that TA BS in less than two minutes a day and move on to more important things like – FUNDAMENTALS!
What we can do, however, is combine our view of the Big Chart with some fundamentals to figure out what the market will do at serious inflection points. Note on Dave Fry's SPY chart, we get a good view of the weak 50 dma.
Before we despair, however, look at that upwardly jammin' 200 dma – that sucker is going to pop the index like it was hit with a tennis racket at right about 1,320 in about 2 weeks so we have a jittery sell-off in a choppy early earnings season to look forward to and then something good happening at the end of the month to spark a rally.
Oh sorry, I planned to conclude with that but it's so freakin' obvious – why waste time with exposition?
Going back to the Big Chart, you can see on the S&P (and the others) that we still have a constructively bullish "M" pattern where the lows are lining up in an up-trend that mirrors the rising 200 dma. Obviously, if we fail to hold these 50 dmas – the next stop is that 200 DMA, which is generally intersecting the 2.5% lines on each index but forget those – it's all about the NYSE, which is our broadest index and is already testing its 200 dma AND…
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,
The Yen finally got back to 77 and EUR/CHF back to 1.21 so my theory that the BOJ has given up on the Dollar and moved to boosting the Euro is playing out nicely.
This does not make me more bullish (expecting falling Dollar to boost the markets) because, in the grand scheme of things, this is kind of like now there are two kids building a sand wall on the beach instead of one – sure it will last longer than the wall just one kid was building but, eventually, the tide will get it anyway or, as Jimi Hendrix said more poetically: "Castles made of sand, fall in the sea, eventually."
Once you start messing around with Forex markets, you are messing with major macro forces that are hard to control. Japanese banks have $7.5Tn of Japanese bonds at 1% – what happens to the value of those bonds if the BOJ does push the Yen down 10%? Who takes that $750Bn hit? What if rates go up to 2% – what's the value of the bonds then? Who will bail out the Japanese Banks when they have a multi-Trillion Dollar (several hundred Trillion Yen) hole in their balance sheets? Do Japanese spreadsheets even have room for Quadrillions? They are going to need it!
Then there's this Bloomberg article on the Central Banks, who have doubled their balance sheets since 2006 to $13.2Tn but, magically, have caused no inflation (according to Ben Bernanke – not according to people who actually buy food and stuff). China is now sitting on $4.5Tn of other people's TBills (mostly ours) and that's up $1.5Tn in a year. The ECB is right behind them with $3.6Tn and another $1Tn supposedly coming in the next EFSF round and the Fed has $2.9Tn plus whatever nonsense they are running off book.
So, how is it that WE are the bad currency here? If the Dollar is a problem, then China, who's GDP is only about $8Tn (optimistically, possibly $5.5Tn depending on who's measuring) is almost as insane as Japanese bankers and maybe more so as they are betting on our country's ability to pay and maintain the value of the Dollar (already a fail, right?). I suppose no one can ever recognize losses and just carry more and more junk…
By Mark Cudmore, a former FX trader who writes for Bloomberg
U.S. Equities Face a Tough Week as the Love Has Gone
It’s going to be a long, tough week for U.S. equities.
While there’s no need to overreact to the Trump administration’s very public failure to reform health care, the evidence suggests that the marginal U.S. stock trader will be selling rather than buying this week.
Even if this wasn’t the key economic policy that equity investors were betting on, the failure is negative in two ways: his percei...
The New York Fed’s most recent household debt report showed ballooning debt and delinquency in student and auto loans. Total household debt has just about reached its previous late-2008 high of over $12.5 trillion.
You’ll notice that housing debt (blue) has not increased much since its 2013 low, meaning that the increases in total debt have mostly come from non-housing debt (red). A closer look at the composition of non-housing debt reveals that the biggest increases in debt have come from student and auto loans (red and green, below).
In fact, the numbers make it look like the housing bubble was almost exactly replaced by new bubbles in education and cars....
Tuesday’s long overdue >1% selloff in the S&P 500 broke a very long and rare streak in the S&P 500. The S&P 500?s streak without a 1% down day was the longest since May 18, 1995! A marginal close lower Monday was followed by a 1.2% drop Tuesday (the NASDAQ fell 1.8% that day).
“I think that investors are kind of starting to discount the likelihood of the immediacy of [President Donald Trump’s] policies and the enthusiasm has come off the boil as a lot of his policies got mired in the legislative process,” said Jack Ablin, chief investment officer at BMO Private Bank. “Investors are not throwing in the towel but they are resetting their expectations.”
According to Bespoke, there have been only 11 instances since 1928 where the S&P 500...
A year ago flows into ETFs were extremely low, actually the lowest in years, as many stock market indices were testing rising support off the 2009 lows. The crowd wasn’t adding money to ETFs as lows were taking place. In hindsight, this was a mistake by the majority. Below I look at ETF flows over the past few years with an inset chart of the S&P 500.
CLICK ON CHART TO ENLARGE
Nearly three months into this year, fund flows have surpassed mone...
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Having rebounded rapidly from the ETF-decision disappointment, Bitcoin suffered another major setback overnight as Chinese regulators are circulating new guidelines that, if enacted, would require exchanges to verify the identity of clients and adhere to banking regulations.
A New York startup called Chainalysis estimated that roughly $2 billion of bitcoin moved out of China in 2016.
As The Wall Street Journal reports, the move to regulate bitcoin exchanges brings assurance that Chinese authorities will tolerate some level of trading, after months of uncertainty. A draft of the guidelines also indicates th...
ISPs will soon be able to sell your most private data without your consent.
As expected, Republicans in Congress have begun the process of rolling back the FCC's broadband privacy rules which prevent excessive surveillance. Arizona Republican Jeff Flake introduced a resolution to scrub the rules, using Congress' powers to invalidate recently-approved federal regulations. Reuters reports that the move has broad support, with 34 other names throwing their weight behind the res...
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.
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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