View Single Comment


  1. Phil

    Good morning! 

    Futures up about 0.3% but off the highs since Europe opened.  

    Still, we're doing quite well with the Dollar at 82.90 and the Yen topped out at 99.88 and the Euro bottomed out at $1.304 and the Pound hit $1.52.  Our own S&P, in a long-term perspective, is doing just fine:

    Dow 16,000 was the cover of Barron's this weekend.  

    expand

    The U.S. economy will become 3% larger in July as the government becomes one of the first to use a new international standard for GDP accounting. Among other things, statisticians will now take into account R&D investment, which will add just over 2%, and creative works, which will add another 0.5%. The government will backdate the changes to 1929, so there are unlikely to be changes in trends or cycles. - But it will magically lower our debt to GDP ratio – clever!

    Oil laying about at 88.27, gold $1,422, silver $23.34, copper even worse at $3.10, Nat gas came down a ton (I knew that was a good short) to $4.32 and gasoline still low(ish) at $2.76.  

    Not much going on.  Europe is up about half a point, led by Spain, up 1.8%.  National Bank of Greece up 8% – interesting.  

    On the other hand, Philips is down 4% and Commerzbank is also down 4% so I don't know what people are so excited about – must read more…

    Govt watchdog is calculating size of implicit subsidy of TBTF banks (Barron’s)

    Shiller: Before Housing Bubbles, There Was Land Fever (NYT)

    A Heretical, Rational Perspective on Gold (Cognitive Concord)

    The Nikkei topped out at 13,700 on the button and fell back to 13,600 but now 13,630.  Always makes a good short below 100 lines if our markets turn down or the Dollar starts falling relative to the Yen – especially as there aren't too many people in Europe or China buying Japanese goods at the moment.  

    China had an earthquake but their markets ended the day flat.  

    China earthquake shears off mountainsides, kills 186 people. A strong earthquake that struck the southwestern Chinese province of Sichuan this weekend has killed 186 people, sent nearly 8,200 to hospitals and created a dire dearth of drinking water, Chinese state-run Xinhua reported Sunday. Earlier reports had said as many as 11,200 people were injured.

    Copper Drops for Second Day as China Quake Raises Demand Concern. Copper declined for a second day in London amid speculation that an earthquake in China’s Sichuan province will hurt demand for the metal in the near-term before it boosts consumption in the reconstruction. Metal for delivery in three months fell as much as 1.5 percent to $6,888.75 a metric ton on the London Metal Exchange, before trading at $6,935.50 at 9:44 a.m. Shanghai time, headed for the lowest close since October 2011. Copper declined for a fifth consecutive week and dropped into a bear market. The August futures contract on the Shanghai Futures Exchange dropped 1.1 percent to 50,110 yuan ($8,107) a ton. 

    China Rebar Falls as Iron Ore Price Decline, Steel Supply Rises. Steel reinforcement-bar futures fell, extending the biggest weekly decline in two months, amid rising output from domestic mills and a decline in the price of iron ore. The contract for October delivery on the Shanghai Futures Exchange fell as much as 0.6 percent to 3,665 yuan ($593) before trading at 3,678 at 10:12 a.m. local time. Futures lost 4 percent last week, the biggest weekly decline since Feb. 22. Spot iron ore at Tianjin port fell for the fifth day to $138 a dry ton on April 19, the Steel Index Ltd. data show. China’s daily crude steel output nationwide in early April was estimated to have risen 2.5 percent from late-March, Custeel.com analyst Hu Yanping said on April 18. “Supply still exceeds demand in the rebar market,” Jiang Yuying, an analyst at Chengdu Brilliant Futures Co., said by phone from Shanghai today. 

    Oil prices have been weakened by oversupply of 1.5 million barrels a day, citing Mohammad Ali Khatibi, Iran's governor to OPEC.

    Barron's Money Poll:

    image

    Lot's of earnings this week along with housing data – should be an exciting week, especially with AAPL tomorrow.  

    Chicago Fed should be a bummer at 8:30 but Existing Home Sales at 10 ought to be nice.  

    Jeremy Grantham on population growth, China and climate sceptics (The Guardian)

    The Remarkable Decline in the Wall Street Journal’s Long-Form Journalism (Atlantic)



To see many more insightful comments, along with Phil's live intra-day comments, live trading ideas, Phil's market calls, and other members-only features - Subscribe to Phil's Stock World by clicking here.

See our disclaimer here.

 
 
 

Phil's Favorites

World hunger is increasing thanks to wars and climate change

 

World hunger is increasing thanks to wars and climate change

Courtesy of Leah SambergUniversity of Minnesota

Smallholder agriculture in southern Ethiopia. Smallholder farmers are particularly vulnerable to food insecurity. Leah Samberg

Around the globe, about 815 million people – 11 percent of the world’s population – went hungry in 2016, according to the latest data from the United Nations. This was the first increase in more than 15 years.

Between 1990 and 2015, due largely to a set of sweeping initiatives by the global community, the proportion of undernourished people in the world was cut in half. In 2015, U.N. member countries adopted t...



more from Ilene

Zero Hedge

Amazon Strikes Deal With Landlords To Install Lockers In Apartment Buildings

Courtesy of ZeroHedge. View original post here.

Since the dawn of the e-commerce era, the largest US landlords have loudly complained about the crush of packages flooding mailrooms at apartment properties across the country.

One apartment owner went so far as to stop accepting packages altogether, while others have experimented with increasingly novel ways to process residents’ mail.

Now, Amazon is stepping in with a solution to a problem that it’s largely responsible for creating. ...



more from Tyler

ValueWalk

Marc Faber's America in Black and White

By Steve Slavin. Originally published at ValueWalk.

It is truly amazing that even in our era of supposed political correctness, a respected financial advisor like Marc Faber, aka Dr. Doom, could publicly make the claim that the United States is much better off than it would have been if it had been colonized by blacks rather than whites. Even in the age of Trump, it seems that only the extreme rightwing hate groups have openly expressed such racist views.

In fairness, Faber did get one thing right: If America had been colonized by blacks instead of whites, our nation would certainly have been a very different place from what it is today.

...



more from ValueWalk

Chart School

More of the Same

Courtesy of Declan.

There was little change on the day-to-day machinations of the market. The S&P is riding along upper channel resistance with technicals still bullish.


The Nasdaq is caught in a halfway house with bullish technicals and a relative advantage of the index against the S&P.


The Russell 2000 is...

more from Chart School

Digital Currencies

BDC's Crypto Corner

 

BDC’s Crypto Corner

By Biodieselchris

Hello fellow PSW-ers. I've been interested in cryptocurrencies (informally, "cryptos" or "coins") since 2011 when I first heard about Bitcoin, Since that time I've become somewhat of a subject matter expert and personal investor in Bitcoin and other alternative cryptocurrencies ("altcoins"). I have even started one of my own!

I've been posting comments about cryptos in Phil's daily post from time to time. Recently, Phil and I got on a call and he asked if I would like to run a blog on his site specifically about cryptos, which I thought was a great idea. My goal would be to educate members on what I know about how coins work, how I research coins (what I find interesting), how exactly one can...



more from Bitcoin

Insider Scoop

Subscriber Growth Strength Bolsters Netflix Q3

Courtesy of Benzinga.

Related NFLX The Market In 5 Minutes: Netflix, Goldman Sachs, And Morgan Stanley Keep The Earnings Beats Going ...

http://www.insidercow.com/ more from Insider

Mapping The Market

Puts things in perspective

Courtesy of Jean-Luc

Puts things in perspective:

The circles don't look to be to scale much!

...

more from M.T.M.

Biotech

Circadian rhythm Nobel: what they discovered and why it matters

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

 

Circadian rhythm Nobel: what they discovered and why it matters

Courtesy of Sally Ferguson, CQUniversity Australia

Today, the “beautiful mechanism” of the body clock, and the group of cells in our brain where it all happens, have shot to prominence. The 2017 Nobel Prize in Physiology or Medicine has been awarded to Jeffrey C. Hall, Michael Rosbash and Michael W. Young for their work on describing the molecular cogs and wheels inside our biological clock.

In the 18th century an astronomer by the name of Jean Jacques d'Ortuous de Ma...



more from Biotech

Members' Corner

Day of Last Dances

News today has been relentlessly terrible. A horrific mass murder happened last night in Las Vegas. (Our politician's abject failure to address gun control is beyond sickening.) And today, reports that Tom Petty died of a heart attack, followed by reports that Tom Petty is not dead, and now reports confirming that Tom Petty has passed away. 

...

more from Our Members

OpTrader

Swing trading portfolio - week of September 11th, 2017

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 ...



more from OpTrader

Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



more from Promotions

Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



more from Kimble C.S.

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...

more from David



FeedTheBull - Top Stock market and Finance Sites



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...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>