Posts Tagged ‘Leigh Drogen’

Wanted: One Cool Customer

Wanted: One Cool Customer

Courtesy of Joshua M Brown, The Reformed Broker 

Different market environments call for different temperaments, and this tape calls for One Cool Customer.  The cross-currents lately are absolutely cartoonish – back-to-back-to-back triple digit rallies while each morning we are treated to fresh evidence of Slouching Housing, Hidden Consumer.

A lot of pros were washed out at the bottom this month when the 8 or 10 month moving averages that they use as stops were violated.  Right on cue, the S&P rallied 6% off those lows during July, almost out of spite.  The frustration is palpable and people are getting heated.

What to make of it all?  I don’t know about you, but I’m looking for cool heads and calm direction – so I’m reading a lot of Leigh Drogen lately on his Surfview Capital blog.

You may know Leigh from the StockTwits stream.  He is in this market, not just discussing it.  And Leigh Drogen is cooler than Lenny Kravitz in February.

Based on his writing, it appears that he’s back to playing his momentum faves and making mental room for the possibility that the tape is, in fact, getting "healthier"…

It’s hard to sit through pullbacks, but as Jesse Livermore said, the real money is made by sitting, not by coming and going.  The last two days have been a tough chop fest where you really don’t want to be trading.  I took off a decent amount of long exposure yesterday morning at the top, but not enough to keep me from looking at my book today and cringing, just a little.  Even when you know what’s about to take place, and that your plan is to let it happen and buy into it, watching your P&L move against you is never fun.  Today my second largest position, and what is a normal position size in $WPRT is down 10%, not fun.  Other than that, everything is acting predictably soft, consolidating nice gains from the past week or so.  We’re not playing for peanuts this time as has been the case the past three months.  It’s time to make some real money as the market has become a bit healthier.  Raise your stops along the way and buy the pullbacks.

Whenever sentiment and the direction of the market diverge so drastically as is the case now, the key is to stay cool.  For smart, emotionless…
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Zero Hedge

Mapping The Top States For Resettling Refugees In 2016

Courtesy of ZeroHedge. View original post here.

The Obama administration admitted nearly 85,000 refugees into the United States in fiscal year 2016, the highest number since 1999.  Moreover, as we noted back in September, Obama's administration has laid the groundwork to increase that number even further in fiscal year 2017 to 110,000 (see "Hillbama Administration Plans To Admit At Least 110,000 Refugees In 2017"). 

Of course, not every state is doing their "fair share" to house the massive influx of immigrants with ...



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ValueWalk

Breaking Free From The Captured Media - Why the mainstream press is freaking out

By PeakProsperity. Originally published at ValueWalk.

In its panicky rush to demonize the independent media via baseless accusations of “fake news,” the mainstream press has sunk to spewing “fake news” of its own.

Here’s The Washington Post’s criminally false “fake news” article in case you missed it: Russian propaganda effort helped spread ‘fake news’ during election, experts say.

So-called “fake news” was perfectly acceptable to the mainstream media when it was the exclusive purview of the central state. The infamous ...



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Phil's Favorites

Dow 20,000: Another Magazine Curse? Amusing Cover Flashbacks From Economist, Newsweek, Others

Courtesy of Mish.

Barron’s is going wild over the Dow. The magazine says Get Ready for Dow 20,000.

Why not 80,000? The Dow is up 13% so far this year, the Dow is outpacing both the S&P 500 and the Nasdaq.

Is this yet another magazine curse?

Economist – March 6, 1999 – Drowning in Oil

The economist predicted $5 oil.

Newsweek – April 10, 2009 – Cheap Oil Forever (Why Prices Will Keep Falling)

I can only find a small image.

...

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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

OPEC, Russia see smooth road to global deal on output cut (Reuters)

Russia and Saudi Arabia said they expect OPEC and non-OPEC producers to reach an agreement on Saturday to curtail oil output and prop up prices in the first such joint move since 2001.

OPEC, Russian Oil Cut Deal Pushes Up Asian Natural Gas Prices (Forbes)

The OPEC agreement reached last week to cut oil output by 1.2 million b/d (removing around 1% ...



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Kimble Charting Solutions

Gold could blast off, if this resistance cluster holds!

Courtesy of Chris Kimble.

Below looks at the US Dollar/Gold Ratio over the past 30-years. When the ratio is heading lower, US$ is weaker than Gold/Gold stronger than US$. When the ratio is heading higher, US$ is stronger than Gold/Gold weaker than the US$

At this time, the ratio in the chart below, has created a Power of the Pattern setup, that is seldom if ever seen.

CLICK ON CHART TO ENLARGE

A rare cluster of resistance is in play for the US$/Gold ratio at (1...



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Biotech

The Medicines Company: Insider Buying

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

I'm seeing huge insider buying in the biotech company The Medicines Company (MDCO). The price has already moved up around 7%, but these buys are significant, in the millions of dollars range. ~ Ilene

 

 

 

Insider transaction table and buying vs. selling graphic above from insidercow.com.

Chart below from Yahoo.com

...

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Members' Corner

How To Poop At A Party?

Courtesy of Nattering Naybob.

Once again, it's "Toilet Thursday" or "Thursday in the Loo", so we follow up on Second Hand Stink with How to Poop At A Party. 

This hilarious video demonstrates how to control the Shituation when needing to Poopulate at a gathering, in no uncertain terms. 

We hope this recurring bathroom humor theme "shits" well with our readers. So please do relax, drop the cursor below, click and enjoy.

...

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Chart School

Dow Jones Gann Angle Update

Courtesy of Read the Ticker.

When the Dow Jones moves the media must have an explanation for it. However the insiders have the nod to what is going on.

The media story so far is that since the TRUMP win, managers have been rotating their portfolios to represent TRUMP trends (lower taxes, go easy on the 'too big to fail' Wall Street banks, more jobs for Americans). Prior the election the stock market was set up for a HILLARY win, due to more of the same, status quo, FED support. But....

Using Richard Ney logic, the short answer is, stocks were always going up and the election results do not matter nor would a higher 10 yr bond or lackluster fundamentals. The real story is the marke...

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Promotions

Phil's Stock World's Las Vegas Conference!

 

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

Notes

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.)

The more people who sign up,...



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OpTrader

Swing trading portfolio - week of December 5th, 2016

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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Digital Currencies

Largest US Bitcoin Exchange Is "Extremely Concerned" With IRS Crackdown Targeting Its Users

Courtesy of ZeroHedge. View original post here.

Last Thursday we reported that in a startling development seeking to breach the privacy veil of users of America's largest bitcoin exchange, the IRS filed court papers seeking a judicial order to serve a so-called “John Doe” summons on the San Francisco-based Bitcoin platform Coinbase.

The government’s request is part of a bitcoin tax-evasion probe, and se...



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Mapping The Market

The Most Overlooked Trait of Investing Success

Via Jean-Luc

Good article on investing success:

The Most Overlooked Trait of Investing Success

By Morgan Housel

There is a reason no Berkshire Hathaway investor chides Buffett when the company has a bad quarter. It’s because Buffett has so thoroughly convinced his investors that it’s pointless to try to navigate around 90-day intervals. He’s done that by writing incredibly lucid letters to investors for the last 50 years, communicating in easy-to-understand language at annual meetings, and speaking on TV in ways that someone with no investing experience can grasp.

Yes, Buffett runs an amazing investment company. But he also runs an amazing investor company. One of the most underappreciated part of his s...



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All About Trends

Mid-Day Update

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

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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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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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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