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Posts Tagged ‘TBT’

Thank GOOG It’s Friday!

SPY DAILYCan we end the week with a bang for a change?

Google had tremendous earnings last night (10% beat) and that has the Futures flying (along with AAPL’s IPhone 4S release, which has, as usual, lines around the block to buy their product on the first day).  We already made some quick futures money in Member Chat, shorting the Nas (/NQ), Dow (/YM) and Oil (/CL) at 6am in Member Chat.  Why go short – just because we had a silly pre-market run-up and we wanted to lock in gains – now it’s 7:30 and we’re done – waiting and seeing how things go into the open

Futures trading is very useful for locking in pre-market gains but you have to be very careful or it’s just as easy to blow them and, as we demonstrate in Las Vegas Sunday Night – the futures markets are clearly a load of manipulated BS – especially in thin after-hours and pre-market trading.  Fortunately though, that’s fine with us as one of the main lessons at PSW is "We don’t care IF the market is rigged, as long as we can figure out HOW the market is rigged and place our bets accordingly."  

The news we didn’t want to risk the futures on comes up at 8:30, as we get the Retail Sales Report for September and not much is expected after a very weak August, where Auto Sales really dragged us down with a 0.2% drop and there was nothing sexy about the other items either.  Still, one thing people fail to grasp when looking at these charts is that the numbers are in MILLIONS, not thousands – so August 2011 was $389,502,000,000 in total sales and up $26Bn from last August.  That’s a pretty healthy pace of $4.6Tn in just Retail and Food Services – what recession?    

NYMOAs you can see from David Fry’s chart, we probably need to work off some overbought conditions before we can have a proper rally.  Also, in an early Alert to Members this morning, we looked over our updated Big Chart and determined it was very unlikely that we will hit the levels we need to go bullish into the weekend so we are already planning to short the Nasdaq into the morning pop to put us neutral into the weekend with a 15/15 allocation (short-term positions, of course).  …
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Thrill-Ride Thursday

SPY 5 MINUTEWheeeee, what a ride!  

I hate to say I told you so but I did tell you so in yesterday’s morning post when I said: "Not to be cynical but, if you are going to have some Slovakian Government officials torpedo a vote that will tank the markets – isn’t it a good idea to run them up first and bring in a bunch of suckers to sell to? We remain a bit skeptical until we get back over our "Must Hold" levels and hold them for more than a day."  As you can see from David Fry’s chart, a little cynicism is a good thing in these markets as the Slovakian vote was delayed again and the FT rumor popped the day’s bubble.  

We discussed shorting oil at $86 (now $84) and gold at $1,695 (now $1,670) as good plays off the morning pump and, as usual, shorting TLT was a winner but now we’re near their theoretical support by the Fed so we’d rather see a run-up to $120 before we play them again.  At 1pm, we have a 30-year note auction of just $13Bn but, as I pointed out to Members in Chat, this makes $52.5Bn of 30-year borrowing since August 15th – that’s not even two months!  

Who can keep funding this kind of debt load?  And it’s not just the US that’s borrowing at an ever-increasing pace – the EU is borrowing as much as we are and Japan is borrowing and Russia is borrowing and Brazil and India are borrowing – Africa would borrow if anyone would lend it to them and our NAFTA buddies, Canada and Mexico, who also borrow about $50Bn a year to fund their own deficits. 

How is it possible, a logical person may ask, for almost every single country in the World to run a deficit at the same time?  Either A) China has so much of a surplus that they are funding everyone else or B) Everyone is printing money 24/7 to pay bills they don’t have the income for and, if B is the case – where’s the inflation?   Is it really possible that, on a planet with a $60Tn GDP and a $4Tn annual deficit (and yes, half of it is ours!) that prices go up less than the 6.66% (why does that number come up so often) printing of
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Bullish Bias To Options On UltraShort 20+ Year Treasury ETF

www.interactivebrokers.com

Today’s tickers: TBT, RIMM & CE

TBT - ProShares UltraShort 20+ Year Treasury ETF – The huge run-up in bonds with greater than 20 years remaining to maturity may pull back by the end of the year, by the looks of a massive bullish options position on the TBT today. The TBT, an exchange-traded fund that corresponds to twice the inverse of the daily performance of the Barclays Capital 20+ Year U.S. Treasury Bond Index, rose 1.7% in early-afternoon trade to $19.12 perhaps on the release of some much-needed scraps of positive economic data out today. A number of large blocks of call options changed hands on the TBT this morning across multiple expiries. The traders responsible for the prints mostly purchased the contracts to position for shares in the TBT to rise, and bonds to fall. The largest transaction on the fund today was the purchase of a massive call butterfly spread in the December contract. The call ‘fly involved the purchase of 15,500 calls at the Dec. $22 and $28 strikes, combined with the sale of 31,000 calls at the Dec. $25 strike, all for a net premium of $0.26 per contract. The spread positions the investor to pocket maximum potential profits of $2.74 per contract in the event that shares in the TBT surge 30.75% over the current price of $19.12 to settle at $25.00 at expiration in December. The investor starts making money if the price of the underlying tops the effective breakeven price of $22.26 by expiration day. The rise in the TBT to $25.00 would roughly correspond to an 11.0% move lower in the TLT, which mirrors the daily performance of the same underlying Index of 20+ Year U.S. Treasury Bonds, to $108.00. Shares in the TBT last traded around $25.00 on August 31.…
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Just Another Manic Monday – Value Investing

Up, up and away!  

As I mentioned in Friday’s morning’s post, we did a lot of bottom-fishing on Thursday as we began to develop Disaster fatigue with long plays on XLF at $11.50, shorting TLT at $123, shorting VXX at $49.50, TNA at $34.50, BRK.B at $65, AA at $10.20, VLO at $19, IMAX at $15.75, BA at $58.32, AGQ at $170, CHK at $27.50, DIS at $30.14 and ABX at $47.50.   They were hedged, of course and, for the most part, you still had a nice chance to make those entries on Friday – but not so much this morning as the futures are up about 1.5% already (7:30).  

Friday morning, in my Alert to Members, I reminded them that BCS looked like an excellent VALUE to me, no matter what the PRICE was ($8.75 after hitting $8.40 the day before) and this morning, that PRICE is up well over 10% in EU trading.  Did the VALUE of BCS change materially over the weekend?  Of course not, certainly not by the $4Bn their market cap gained – like the song, the VALUE remains the same – only the highly variable price of a share of BCS is undergoing ch-ch-changes…  

I pointed out similar hedged, long-term plays could be made on GS ($94), MS ($13), BAC ($6) and C ($24).  Of course we hedged them per our discussion in the morning post (TZA was our morning choice but we’re out over 650 on the RUT) but then we went long on EWG (Germany) again with the very aggressive Oct $16,18 bull call spread at $1.30, offset by the sale of the $17 puts for .90 for net .40 on the $2 spread.  10 of those in our virtual $25,000 Portfolio cost $400 and can return $2,000 in less than 30 days if EWG is over $18 and, guess what – they’re over $18 this morning!

Another bullish bet we placed was USO Nov $28/30 bull call spread at $1.30, selling the $27 puts for $1.10 for net .20 on the $2 spread with a 900% upside if USO simply doesn’t drop from where it is now.  That’s what’s nice about options – you don’t need the market to go up to make money good money.  On this trade idea, your worst-case scenario is owning USO at net $27.20, about 10% lower than it…
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TGIF – Stop the Week, We Want to get Off!

What a disaster!  

Of course, that’s why we have Disaster Hedges, right?  August 11th was the last time we did a "Hedging for Disaster" post which included a LONG trade idea on gold that’s done now (we’re short) after gaining over 300%.  We’re a little mixed in our results on the other hedges but that means we can SWITCH HORSES – from the trades that have already worked to the ones that haven’t yet.  That’s how we cash out our winners on a regular basis – it’s the pony express of investing.   Our other Disaster Hedges from that post were:  

  • DXD Oct $23 calls at $2, selling Oct $27 calls for $1.15 and the Oct $19 puts for .70 for net .10.  That spread is currently -.05 so down 150% so far and a nice horse to switch to, offering a .05 credit on the $4 spread.  
  • FAZ Oct $65 calls at $22, selling Oct $72 calls for $20 and selling JPM 2013 $20 puts for $2.05 was a net .05 credit as a backstop to our long financial plays.  FAZ is now at $71.34 and the October FAZ spread is now $3.70 but the JPM puts are now $3 so net .70 is only up 1,500% so far.  Should the financials stay low, we get the full $7 from the spread and we’re obligated to buy JPM for $20 (now $29.27) in 2013.  
  • SDS Sept $26 calls at $3.20, selling Sept $32 calls for $1.65 and selling VLO Jan $15 puts for $1.20 for net .35.  SDS is only at $25.73 so far (not a disaster yet) and the spread is now net $1.25 and the short VLO puts are .17 so net $1.08 on this one is up 208% and we’re not even at goal – that’s pretty good!  Note the spread is LOWER than when we started so this can also be used as a fresh horse with a different offset, like X Jan $15 puts for $1.20 for a net .05 trade.  
  • TBT was stopped out with a small loss at $24 (fortunately).  My comment at the time, with TBT at $24.88  was:  "Keep in mind though, that the Fed has said rates will stay low through 2013 so it would be wise to uses stops on the puts, at least, if TBT fails to hold $24!"  
  • EDZ


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Monday Market Momentum – Down is the New Up

FXY WEEKLY Thank goodness the US is closed! 

Europe is down a whopping 3.5% (so far) this morning, opening in free fall after Asia opened down about 2% on the average (but finishing at the day’s lows).  Gold flew up to $1,906 before calming down but oil is down to $84.82 at 6:45 am as the Dollar tests it’s highs of 75.15 on the Euro’s fall to $1.41 and the Pound testing $1.61.  Any thoughts that the BOJ was done manipulating the Yen are now officially out the window as the Dollar/Yen is STILL 76.80 (around 128.50 on FXY), the same place it’s been since August 8th! 

When the World’s 3rd largest economy is manipulating it’s currency on a daily basis, of course the Global markets are going to be thrown into chaos.  Every day the BOJ tries to debase their currency they must buy other currencies or foreign stocks or gold or silver or oil – ANYTHING BUT YEN to make the Yen less valuable as compared to another relative basis.  

Even so, it’s not working and Japan’s new finance minister said this morning that he will try to forge a consensus among the Group of Seven leading industrialized countries that "excessive yen rises" won’t benefit the world economy when finance officials meet in France later this week.  "I am hoping to see us develop a common view that excessive yen rises, as shown by facts and processes in the past, do not necessarily have a positive impact on the global economy," Mr. Azumi told reporters, referring to Friday’s planned meeting of G-7 finance ministers and central bank chiefs in Marseille, France.  "At this exchange rate, it is becoming impossible for crucial parts of Japan’s export industry to make profits," he said.

BCS WEEKLY Asian shares were already following US financials downhill on overblown fears of the FHFA lawsuit (see FHFA Friday).  I say overblown because the first bank sued, ING, already settled for .20 on the Dollar so banks are reacting as if they already lost $30Bn when it’s much more likely this will all get washed away for $6Bn, or about 2 day’s worth of profits (4%).  We’ve already seen the banking community write down over $1Tn in losses and survive to screw us over another day – do we really think this little wrist-slap will end them or is this just another example of retail suckers
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FHFA Friday – Potential Lawsuit Tanks Banks

Sue The Banks$30 Billion – that’s bound to get their attention!  

According to the WSJ, the Federal Housing Finance Agency is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble. The suits, which are expected to be filed in the coming days in federal court, are aimed at Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among others, according to three individuals briefed on the matter.

The suits stem from subpoenas the finance agency issued to banks a year ago. If the case is not filed Friday, they said, it will come Tuesday, shortly before a deadline expires for the housing agency to file claims arguing the banks, which assembled the mortgages and marketed them as securities to investors, failed to perform the due diligence required under securities law and missed evidence that borrowers’ incomes were inflated or falsified. When many borrowers were unable to pay their mortgages, the securities backed by the mortgages quickly lost value.

Fannie and Freddie lost more than $30 billion, in part as a result of the deals, losses that were borne mostly by taxpayers. In July, the agency filed suit against UBS, another major mortgage securitizer, seeking to recover at least $900 million, and the individuals with knowledge of the case said the new litigation would be similar in scope.  

Tim Rood, who worked at Fannie Mae until 2006 and is now a partner at the Collingwood Group, which advises banks and servicers on housing-related issues, agrees with what I told Members in last night’s chat:  

"While I believe that F.H.F.A. is acting responsibly in its role as conservator, I am afraid that we risk pushing these guys off of a cliff and we’re going to have to bail out the banks again.”

In other words – MADNESS!  What was the point of spending Trillions of Dollars bailing out the Banks if you are going to turn around and sue them for $30Bn and drop their stock price another Trillion, causing them to need another bailout?  

Perhaps this is the denouement of a week of scary market rumors that seem to have been designed to stop the markets from breaking too high.  We were speculating on this last night in Member Chat before this…
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Thrill-Ride Thursday – Will Dudley Do Right Save the Day?

Wheeeeeeeeeee!

Now THIS is an exciting ride.  We had a great sell-off in the Futures this morning – the same Futures that I mentioned, in yesterday’s Morning Post, that we had shorted at S&P 1,200 and Russell 710 in a post I had titled "1,200 or Bust!"  Of course we also called for our usual monthly oil short with the (/CL) Futures hitting $99 on yesterday’s inventory and now down to $86 (up $3,000 per contract).

Of course, for the Futures Impaired – we still have our straight USO Sept $32 puts at .90, which we whittled down to a .75 in yesterday’s Member Chat as well as the very lovely idea of the SQQQ Sept $25/28 bull call spread at $1 (spread with short RIMM Sept $22.50 puts to make it FREE) that I mentioned right in the 2nd paragraph of Tuesday’s post.  Those were just the ideas we gave away for free!  In Member Chat, yesterday’s morning Alert to Members was this:  

As I said earlier, we like the Futures short at RUT (/TF) 710 and S&P (/ES) 1,200 but the big play today will be shorting oil (/CL) below the $88.50 line or, hopefully, below the $90 mark if they get that high.  Expect the Dollar to re-test 73.50 and, if they hold it, then it’s a great time to hit the shorts but, with oil, we’re waiting on that inventory report at 10:30.  

As an overall short on oil, the Sept $32 puts are down to .65 and .60 is a good spot to DD in the $25KP (10 more).  AFTER that, with an average of .75 per contract, we want to consider rolling up to the Sept $33 puts, now .90 for .30 or less.

Another fun way to play an oil sell-off is the SCO Aug $53/54 bull call spread


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Income Portfolio – Month Four – Stormy Weather!

Riders on the storm 

Into this house we’re born 

Into this world we’re thrown 

Like a dog without a bone 

An actor out alone 

Riders on the storm 

 

What a crazy couple of week’s we’ve been having!  Very fortunately, in last month’s update of our virtual income portfolio, we had already cashed out $33,084 – more than enough to take us through our first 8 months (our planned $4,000 a month to live on).  We did that using just $200,000 of our $1M in buying power ($500,000 portfolio), staying very conservative and waiting for a bigger dip than the one we had had in June.  

Well, here we are!  We are now 10% below June’s bottom and we did do a little bottom fishing, adding positions in WFR, SONC, IMAX, VLO, OIH, TBT and HOLI – positions we’ll be reviewing below.  To a large extent, we followed the strategy I called "Don’t Just Do Something, Stand There" during this sell-off although it was (and still is) a nail-biter as we tested my August 2nd prediction of the "worst-case" scenario of a 20% drop from the top.  

We stuck to our guns this week and had a lot of fun playing the wild gyrations with our short-term betting but the Income Portfolio is an exercise in managing a "low-touch" portfolio – one that does not require us to make daily adjustments.  I am aware that can be frustrating for people who stare at the markets every day but that is what our short-term trade ideas are for in Member Chat.  That goes for people who are retired or semi-retired too.  You don’t HAVE to play every day – or any day for that matter but you do need to work one week a month and that would be this week – the week of…
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Hedging For Disaster – 5 Plays that Make 500% if the Market Falls (Members Only)

We took our last round of disaster protection back in early July and almost all of those trades are well in the money.  

Since you know I am a big fan of taking cash off the table in either direction, let’s not be greedy and look at ways to "roll" our downside protection into new downside plays so we can set SENSIBLE stops on our now deep in the money short plays (very similar to our Mattress Strategy).  Keep in mind that this is the biggest market decline we’ve had since last Summer, so adding a layer of protection here doubles our returns if this is the first leg of a major sell-off, or it gives us a smaller hedge that we can roll up later while we take our bigger hedges off the table.  As I have to say WAY too often to members – It’s not a profit until you cash it in! 

Hedging for disaster is a concept I advocated during another "recovery," in October of 2008, where we made our cover plays to carry us through a worrisome holiday season and into Q1 earnings – "just in case."  That "just in case" saved a lot of virtual portfolios!  The idea of disaster hedges high return ETFs that will give you 3-5x returns in a major downturn.  That way, 10% allocated of your virtual portfolio to protection can turn into 30-50% on a dip, giving you some much-needed cash right when there is a good buying opportunity.  At the time, I advocated SKF Jan $100s at $19.  SKF hit $300 around Thanksgiving and those calls made a profit of over $280 (1,400%), so putting even just 5% of your virtual portfolio into that financial hedge would give you back 75% of your virtual portfolio when you cash out. 

Keep in mind these are INSURANCE plays – you expect to LOSE, not win but, if you need to ride out a lot of bullish positions through an uncertain period, this is a pretty good way to go.  We cashed out our bullish $25KP positions by July 28th, (our active virtual portfolio) with the S&P at 1,340 and, since then, I’ve had a very hard time making long-term bullish picks.  I want top put up a Buy List but it’s still too risky – this will be step 1 though – protect first, then buy!  Once we cash
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Market Shadows

Riding in Toyota Today

Riding in Toyota Today

By Paul Price of Market Shadows

Market Shadows Virtual Value Portfolio put most of our remaining cash reserves to work this morning in buying 38 ADRs (American Depository Receipts) of Toyota Motor Company (TM) the world’s largest seller of automobiles and trucks.  We like and already own shares of Honda (HMC) as well.

The stock was down overnight due to negative action in the Japanese marketplace so we got a great entry price of just $106.57 per ADR today.

Toyota’s 52-week range has b...



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Chart School

How Long to the Next Recession? iM's Weekly Update

Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

The BCI at 169.3 is down from last week's upward revised level of 169.5. BCIg, the smoothed annualized growth of BCI, at 16.9 is down from last week's upward revised 17.5. This week's BCI shows no recessionary trends.

Figure 1 plots BCIp, BCI, BCIg and the S&P500 together with the thresholds (red lines) that need to be crossed to be able to call a recession.



Click for a larger image

The off-peak indicato...



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Zero Hedge

Desperate Ukraine Pleads: "Red Line Has Already Been Crossed"

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Ukraine's Deputy Foreign Minister Danylo Lubkivsky exhorted to US State department officials, "let's not look for further time frames," demanding "all necessary pressure" be applied now. The red line has already been crossed and, as Bloomberg reports,  Lubkivsky says he hopes U.S., EU don’t prioritize political concerns over moral ones and that the West will help with economic, diplomatic and military assistance.

 

As Bloomberg reports,

“Let’s not look for further time frames” and instead exert “all necessary pressure,” Ukrainian deputy foreign minister Danylo Lubkivsky tells State Dept officials, jo...



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Phil's Favorites

Initial Jobless Claims Jump Most In 4 Months, Continuing Claims At Best Since 2007

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Initial jobless claims surged from 304k to 329k this week, the biggest weekly rise since mid-December. From exuberance at new cycle lows, we swing to the average of the last 8 months. This is the biggest miss to expectations in over 2 months. Continuing Claims dropped further to new cycle lows at 2.68 million (beating expectations) - its lowest since Dec 2007. So this is as good as it gets for continuing claims - America is back at its best!

Initial claims surges back up to its average of the last 8 months...

...



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Insider Scoop

Zogenix Announces Sale of SUMAVEL DosePro Migraine Therapy to Endo International for $85M, Up to $20M Milestone Payments

Courtesy of Benzinga.

Related ZGNX Zogenix Responds to Governor's Action Singling Out Zohydro ER in Massachusetts Zogenix Shares Soar on Massachusetts Developments - Analyst Blog

Zogenix, Inc. (Nasdaq: ZGNX), a pharmaceutical company developing and commercializing products for the treatment of pain-related and central nervous system (CNS) disorders, announced today that it has entered a definitive agreement to sell its SUMAVEL® DoseP...



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All About Trends

Mid-Day Update

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

Click here for the full report.




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

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Option Review

Casino Stocks LVS, WYNN On The Run Ahead of Earnings

Shares in Las Vegas Sands Corp. (Ticker: LVS) are up sharply today, gaining as much as 5.7% to touch $80.12 and the highest level since April 4th, mirroring gains in shares of resort casino operator Wynn Resorts Ltd. (Ticker: WYNN). The move in Wynn shares appears, at least in part, to follow a big increase in target price from analysts at CLSA who upped their target on the ‘buy’ rated stock to $350 from $250 a share. CLSA also has a ‘buy’ rating on Las Vegas Sands with a $100 price target according to a note from reporter, Janet Freund, on Bloomberg. Both companies are scheduled to report first-quarter earnings after the closing bell on Thursday.

...

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Sabrient

What the Market Wants: Market Poised to Head Higher: 3 Stocks to Consider

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

Courtesy of David Brown, Sabrient Systems and Gradient Analytics

Yesterday, the market continued its winning ways for the fifth consecutive day.  The S&P 500 closed within 1% of its all-time high, and the DJI was even closer to its all-time high.  Healthcare, Energy and Technology led the sectors while Financials, Telecom, and Utilities finished slightly in the red.  All three sectors in the red are typically flight-to-safety stocks, so despite lower than average volume, the market appears poised to make new highs.

Mid-cap Growth led the style/caps last week, up 2.87%, and Small-cap Growth trailed, up 2.22%. This week will bring well over 100 S&P 500 stocks reporting their March quarter earn...



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OpTrader

Swing trading portfolio - Week of April 21st, 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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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. Click here and sign in with your PSW user name and password, or sign up for a free trial.

...

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Digital Currencies

Facebook Takes Life Seriously and Moves To Create Its Own Virtual Currency, Increases UltraCoin Valuation Significantly

Courtesy of ZeroHedge. View original post here.

Submitted by Reggie Middleton.

The Financial Times reports:

[Facebook] The social network is only weeks away from obtaining regulatory approval in Ireland for a service that would allow its users to store money on Facebook and use it to pay and exchange money with others, according to several people involved in the process. 

The authorisation from Ireland’s central bank to become an “e-money” institution would allow ...



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Promotions

See Live Demo Of This Google-Like Trade Algorithm

I just wanted to be sure you saw this.  There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.

If GOOGLE, the NSA, and Steve Jobs all got together in a room with the task of building a tremendously accurate trading algorithm… it wouldn’t just be any ordinary system… it’d be the greatest trading algorithm in the world.

Well, I hate to break it to you though… they never got around to building it, but my friends at Market Tamer did.

Follow this link to register for their training webinar where they’ll demonstrate the tested and proven Algorithm powered by the same technological principles that have made GOOGLE the #1 search engine on the planet!

And get this…had you done nothing b...



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Pharmboy

Here We Go Again - Pharma & Biotechs 2014

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

Ladies and Gentlemen, hobos and tramps,
Cross-eyed mosquitoes, and Bow-legged ants,
I come before you, To stand behind you,
To tell you something, I know nothing about.

And so the circus begins in Union Square, San Francisco for this weeks JP Morgan Healthcare Conference.  Will the momentum from 2013, which carried the S&P Spider Biotech ETF to all time highs, carry on in 2014?  The Biotech ETF beat the S&P by better than 3 points.

As I noted in my previous post, Biotechs Galore - IPOs and More, biotechs were rushing to IPOs so that venture capitalists could unwind their holdings (funds are usually 5-7 years), as well as take advantage of the opportune moment...



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

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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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