TGIF – Stop the Week – We Want to Get Off!

Well, you can't say we didn't see this coming.  

On the right is where we closed last Friday, just shy of 26,000 on the Dow, just shy of 2,800 on the S&P, 7,039 on the Nasdaq, 12,573 on the NYSe and 1,550 on the Russell.  It may have seemed like we were recovering but this is why we have to ignore our instincts (bullish or bearish) and just watch the bounce lines according to our 5% Rule™ before making drastic changes to our portfolios.

I had warned about being fooled by the bounces in Friday's Morning Report and on Monday we laid out our game plan for the week and I don't go over them to show how right we were but it's good to reveiw what we said then in retrospect so the next time we tell you what is likely to happen, you have better context for how our predictions play out.  

We went long on Gold (/YG) and Silver (/SI) Futures on Monday and that was BRILLIANT but we were way too early getting bullish on Oil (/CL) and Gasoline (/RB) though, fortunately, we did have a plan to lose "just" $420 at each nickel stop on the way down ($1.65, $1.60 and $1.55) as we played for the eventual turn. 

As it stands now, we're long 4 /RB contracts at $1.55 after losing $420 on the first penny at $1.64 and then $840 (2 contracts) at $1.60 but now 4 contracts at $1.55 seem to be working and we're back to $1.585 with a $1,470 gain and, of course, we are taking 3 off the table, leaving us with just the original one long contract at the much better price of $1.55 while we're up net $210 overall on the closed contracts. 

We were wrong on SLW on earnings, they went $1 lower but we still love them long-term and our warning for the week played out as I said on Monday:

We're still playing the markets very cautiously and very skeptically but we also have PLENTY of (well-hedged) bullish positions and our portfolios seem very well-balanced so we'll just


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  • Phil, 26% on the week for the 20% I day-trade, and since drinking the kool-aid last fall, the whole portfolio has doubled. Have a great weekend !!

    JRW III

  • Phil, I don't know if I told you lately but you da man! I'm doing so much better following your guidelines. It's like you actually know what you are talking about. 8-) I've tried a lot of services and none of them are as comprehensive or honest AND successful. I appreciate all youz other guys/gals input as well…learning tons as a relative newbie to this game.

    Aclend

  • CZR – well that was fun! Opened the play yesterday. As the arb premium was now almost all gone from the box spread today, I just decided to close it. The rundown, after all commissions: my net was $183.51 profit for an overnight trade tying up $2000 margin in an IRA account. That's a 9% overnight return (3200% annualized!) …And all that learning, too! Thanks PSW!

    Scottmi

  • Phil - I caught the interview…. terrific!. Your host recommended that the viewers should " go to your site, as you will be entertained ". That is for sure if you consider entertainment is laughing while you read, learn and make unbelievable leveraged profits that you never thought were possible. That is my kind of entertainment !

    Gel1

  • You guys gotta give it to phil–the voice of reason yesterday, last nite and this morning.

    Corleone

  • I would like to thank Phil and PSW crew for the insight and assistance (even the liberals). In December I initiated long stock positions buying stock, writing calls and puts in AAPL, WFR and CHK (scaling in and out). Over the last week I have been trimming back my positions selling stock and taking out my callers and putters. I am now back to my initial 25% position that I started with in December. However this time, my cost basis on shares AAPL, WFR, and CHK is $0! With money to spare from those positions.

    Texasmotion

  • I have to thank you for excelling yourself during this past week. I have spent a good few hours going over your notes and comments and there are so many gems on repairing and rolling trades that I have been beavering away on paying special attention to my major positions and analysing them using your approach on Tuesday. Being able to look at a group of trades on the same underlying (in this case AAPL) and taking a detached view by assessing the impact of the underlying reaching different price points was extremely reassuring.

    Winston

  • 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.

    CanuckBob

  • 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….

    Pharmboy

  • Phil - I LOVE these futures trades at random hours! I wasnt able to get in on the 612 part but if I had it wouldve been 130$ (2.6%) on a 5k contract in less than 30 minutes. I know you have to sleep, spend time with fam, ect but Im just letting you know that your posts after hours/late at night has made people who followed them a decent chunk of change. Thank you, we appreciate it!

    Jromeha

  • I started with $250,000 in cash as of Oct 1 and have realized gains of $81,000 thru close of business. And that's in an IRA with no margin or naked trades. Whenever you are in Argentina or Chile I owe you a drink. I'm looking forward to it.

    Denlundy

  • I've recently done exactly what Phil described. I upgraded my ability to trade the IRA acct. by transferring acct. from TDA to TOS. TDA would not allow spreads; TOS does. Neither will allow naked options. With spreads I am able to buy calls or puts several months out then sell front month calls or puts over and over. This allows me to collect premium, which is, of course, the goal. This wasn't an original idea. Phil put me onto it. Since the transfer I've substantially increased my performance in the IRA!

    Iflantheman

  • 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

    Jon

  • Phil - Wow…wow. The vision and inate grasp of the options world you posess is rather staggering. It's this type of experience that I really hope to develop. I'm afraid I still can't see the moves, but I WILL learn. I cannot thank you enough for the patience, knowledge and effort you put into this place. Please keep it going!

    Where

  • Aapl/Phil Thanks for your advice, always appreciated. So, not so much a tax issue, but more to protect against a 5% or greater drop. Here is what I did before their earnings…sold 25% of my stock at 147.50 Against the rest, I sold the June $140 calls for $8.25, protecting down to $140 if needed. And just for fun, I bought the weekly $145 puts for $1.50( small price to pay if they bombed on earnings) So, overall, I am happy with the insurance I was able to 'generate' for 1% of the price of stock. Now, depending on what happens, I have the luxury of deciding and being in the driver's seat with respect to whether to sell and buy your spreads or not. Having done all that meandering, I must say it was fun! More important, I could not have done something like that 2 or 3 years ago and reading and thinking about your teachings has been a tremendous asset. Thanks!

    Maya1

  • Phil is a fundamentalist to his fingertips. His ability to value a stock goes well beyond p/e, as he understands the essence of many businesses, what gives them value and how they make their money. As such, his recommendations are invaluable to a investor who takes a value-oriented approach.

    Zeroxzero

  • Phil/Eric/Cwan/Matt/Cap/etc.. - I've learned so much from all of you and want to thank you. I'm up 23% this month thanks to all of your advice - Thanks, guys!

    Josiah

  • Phil thanks. You never cease to amaze me with your thoughtful perspective on a myriad of different issues and challenges. It's kind of an embarrassment of riches since I joined this board a few years back. The ride from Dow 9,000 or was it 8,000? up to Dow 15,000 seems hard to believe. I wish I could have it all over again, except with the capital I have now.

    Winston

  • I took $2 (up 133%) and ran on those USO puts, quite a bit more than the 20 you played in the $25KP. Thank you once again for turning a bad market week into a great personal week. You will be happy to know I am back to cashy and cautious with a few of your favorite longs into the weekend. Thanks to Phil, JRW and all the members who share their knowledge here.

    Dennis

  • You are doing a fantastic job. I think most of us our very well balanced and consequently have learned how to manage through these ever so short declines in the market without panic.

    Dclark41

  • HOTT / Got great trades with it: Enter 6.75 at open, out at 7.18 (avg) at 10:13 Reentered at 7.00 and out all 7.11 few minutes ago- Was a small play but I collected enoght for next month PSW subscription.

    Spider

  • 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.

    Winston

  • GOOG, NFLX and AAPL all bought last hour Friday. Sold into the excitement the first hour today for an average of 15% on the options. And lots of them. Thanks again Phil for teaching me so well.

    lflantheman

  • Happy Thanksgiving Phil and to your family and associates. Also to all of the other fellow citizens of Phil's Stock World. I am particularly happy and thankful that I clicked on your article in Seeking Alpha a number of years ago. That opened the gate to Phil's Stock World and "being the house". My wallet thanks you as does my peace of mind in trading options, stocks and rarely futures. Your liberal views opened up my views—being a boot strapper (pulled myself out of a poor background) I was a CONSERVATIVE—cynical of others who weren't as driven. Now, I am much less so; you have taught me more than how to make money and manage risk. So, again I give thanks to you and the others of PSW!!

    Newthugger

  • Phil.... I remember back in March of '09, you stated " Unless you think the country is going to hell in a hand-basket, NOW is the time to do your buying". Do you remember ? I took your advice, and bought leap $2.00 calls on F, approximately 200,000 shares using the options, for just pennies. Now that was the best Ford I ever owned.... made over $1 mil - thanks go to you Phil. I now drive a Mercedes but still "love" the Ford.

    1234Gel

  • Why were the analysts wrong? If I were a Japanese investor who purchased US stocks prior to November at Y80 yen to the dollar, with the US market up an average of 15% or more and upon selling the asset I covert dollars to Yen, also realizing an additional 25% gain (one dollar now converts to 100+ Yen rather than the 80 I used at time of purchase), I think I would be unloading US assets also. But analysts never do the math in their articles nor very rarely bring up or discuss the ramifications of currency fluctuations. I don't include Phil in this group as this is a valuable lesson I am learning from him.

    Denlundy

  • Phil — gotta thank you for your advice this week, and especially today. I took many aspects of your advice this morning, with all of my shorts -- being prepared on the short side, selling into intial excitement, taking the money and running, not being greedy. I also made money on the your /QM and /YM calls. It used to be I would be terrified of weeks like this one. Now, it feels somewhat comfortable, for want of a better word.

    Escohen5

  • I'd like to wish Phil and everyone else that contributes to this board a very Merry Christmas and happy New Year. The wealth of knowledge on here is incredible, and it has greatly contributed to my understanding of markets, politics, and the world in general. This year was when Phil's teachings all seemed to click in place, and my portfolio's performance shot up, and for that I am very grateful. Thank you!

    Palotay

  • Newer member here, but just wanted to say thank you too. I've learned so much and I hope you'll be around for a long time helping us learn along the way.

    Where

  • hil, I hit my targets for the year in my 401K (thanks in no small part to your site), so I cashed out of all positions a couple of weeks ago. Feels good... I'm conservative with this money –looking for 2% per month, which i've been able to do… thx.

    Lunar

Global Auto Industry Collapse Continues As October EU Data Shows No Relief

Courtesy of Zero Hedge

The outlook for the global automobile market has been increasingly dire lately, especially after a third quarter that saw sales drop in many major markets across the globe, including China. Now, the latest data from Europe suggests that the difficulties may be nowhere close to over despite optimistic fourth quarter guidance by companies like Volkswagen and Daimler AG. 

Deliveries of new passenger cars were down 7.4% in the EU and the European Free Trade Association in October from the year prior. This adds to a 23% drop that occurred during September according to data from the European Automobile Manufacturers Association, and which was so acute it led to the first negative GDP print for Germany since 2015.  

Despite the ongoing sales weakness, which many attribute to one-time events, some analysts – like those at EY Consultancy - still expect the market to turn around in the fourth quarter. They argue that new emissions testing cited by many companies as the reason for disappointing sales, will only have a temporary effect.

At the same time, Citigroup analyst Angus Tweedie thinks the downside is not over for companies like BMW and Daimler AG, according to Bloomberg. In a note titled "The Golden Age Ends With a Crash", Tweedie wrote that "Heading into 2019 we see few remaining avenues of maneuver, and with volume growth slowing in most markets believe the scale of pressures will become obvious." 

Meanwhile, ongoing challenges like the slowdown in China have been exacerbated by trade wars, casting a cloud over the industry. However, one of the main potential threats, tariffs on imports from the EU, has been alleviated for now, as we wrote yesterday. Following the data release, European automakers like Daimler, VM, and BMW were all trading lower between 1% and 2%. 

The new emissions standards (dubbed "WLTP"), a remnant of German automakers' emissions test cheating days, continue to be a cause for profit warnings for companies like Daimler and BMW. The rush to get cars ready for new regulations has put pressure on auto sales this quarter. And while BMW made the deadline, it reportedly couldn't escape pricing pressure from competitors entering the market at the same time.

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Thursday Failure – Warning Lights Flashing on our Market Dashboard

chartWe're still painting the bounce lines red 

As I warned you on Tuesday, there's blood on the streets and we have now picked up 4 red boxes as each index has been taken down a notch this week and, with the Nasdaq (/NQ) failing it's 10% correction AGAIN at 6,870 and the Russell (/RTY) right on the -10% line at 1,495 – will the Dow (/YM) and S&P (/ES) be far behind?  For the Dow, that's a 700-point drop to 24,300 and the Dow (/YM) futures pay $5 per point per contract so I love shorting /YM below the 25,000 line with tight stops above.  

  • Dow 24,300 with a weak bounce at 24,800 and a strong bounce at 25,300
  • S&P 2,640 with a weak bounce at 2,710 and a strong bounce at 2,780
  • Nasdaq 6,870 with a weak bounce at 7,080 and a strong bounce at 7,230
  • Russell 1,485 with a weak bounce at 1,530 and a strong bounce at 1,575

For the S&P (/ES) we're at 2,696 this morning so another 56 point-drop and we're all red on that index too.  On the other hand, if /ES can get…
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Animal Spirits: How to Create the Perfect Fund

 

Picture via Pixabay

Animal Spirits: How to Create the Perfect Fund

Courtesy of 

On this week’s Animal Spirits, we discuss:

$1,000 a month, no strings attached

Universal basic income is ahead of its time

Are quants facing a crisis of confidence?

Hedge fund bloodbath

Survey of the week

Robinhood has to make money somehow

Million dollar neighborhoods

The decline in youth sports

Banks have a lot of data

Listen here:

Recommendations:

Fifty Inventions That Shaped the Modern Economy

Gridiron Genius

Charts mentioned:





Wobbling World Wednesday – Global Indexes Consolidate for the Next Move Down

Reuters GraphicI think we're heading lower.

Probably about 10% lower and yesterday's 8% drop in oil is a good indicator of how fast the "value" can come out of the markets – or any other asset you think is "stable" these days.  There are still MANY signs of Global Economic Weakness, including Japan's negative GDP, which we noted yesterday.  Even worse, Japan's Central Bank owns $5Tn worth of assets – the entire GDP of the country, including 45% of all Government bonds paying near 0% interest that will quickly become worthless if rates rise.

“The Bank of Japan’s policy is clearly not sustainable. The BOJ would suffer losses if it would have to raise interest rates to, say, two percent,” said Hidenori Suezawa, a fiscal analyst at SMBC Nikko Securities. “Also, in case of emergencies, such as a natural disaster or a war, the BOJ won’t be able to finance government bonds any longer.”

The BOJ has also been a very aggressive buyer of Japanese stocks and is now the largest holder of most of the Nikkei 225 stocks – over 10% on average.   This buying spree pushed the Nikkei up from 16,000 when Abe and Koroda unleashed this mad shceme in order to reverse that 20% correction.

Well, what if the 20% correction was correct and Japanese stocks, in an aging population with Government debts that exceed 250% of their GDP, are really only worth Nikke 16,000.  That means that, at 24,000, 33% of the money the BOJ spent to prop up the market was wasted and that's very likely the case as the BOJ shouldn't have to be a buyer and their actions created a false sense of demand for Japanese stocks and artificially raised the prices and those prices, in turn, encouraged other Global markets to move higher and now the whole World is a good 10% (still) too expensive but Japan has barely corrected 10% and easily has another 10% to go (19,500) before anything like real buyers begin to show up.

Image result for japan bubble 2018It's not even possible for the BOJ to
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Wall Street Expects S&P To Peak At 3,056; Will Rotate Into Bonds When Yield Hits 3.7%

Courtesy of Zero Hedge

One day after Bank of America released its latest, and quite bearish Credit Investor Survey, on Tuesday, the bank has published its latest, and far broader, Fund Managers Survey (FMS) which polled a total of 225 panellists with $641bn AUM during the period of November 2-8. According to the survey administrator, BofA CIO Michael Hartnett, there were three key takeaways:

  • Investors forecast the S&P500 to peak at 3056 (give or take) and are waiting for the 10-Year yield to reach 3.7% before rotating from stocks into bonds
  • Cash levels fell in Nov… To BofA this suggests that positioning is not bearish enough for Big Low (which will likely take place in Q2 2019 at the earliest)
  • Perhaps most notable is that the allocation to tech plunged to the lowest since Feb'09 even though investors still see "Long FANG-BAT" as the most crowded trade; Meanwhile, investors are long US$ & not yet long global recession

Some more detailed observations together with charts:

On when the market finally tops, investors think the S&P 500 will peak at 3056 (a weighted average of the responses) suggesting 12% upside from today's level, even though – like the market – this level appears to be rolling over …

…but as BofA notes, 1 in 3 FMS investors (30%) now think US stocks have already peaked, double last month's reading (16%). This likely also means that there are quite a few who see the S&P rising as high as 3500 or more.

Next, when looking at the big risk cited by credit investors, namely rising rates, Wall Street investors said they don't expect a rotation from equities to bonds until 3.7% on the 10-year Treasury (also the averaged weighted response); This is about 20bp higher than the response back in April 18.

Contrary to reports of asset liquidations, survey respondents said that their cash level actually fell to 4.7% from 5.1% (just above the avg of the past 10 years of 4.5%) and hovering just above neutral even as investors reportedly stay bearish. To BofA this means that the Cash Rule has been in…
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Phil's Favorites

Theresa May's deal is almost exactly the Brexit the UK voted for

 

Theresa May’s deal is almost exactly the Brexit the UK voted for

Courtesy of Craig Berry, Manchester Metropolitan University

Forgive me, I may have missed something. There has of course been a lot to take in over the last few days. But, despite what the latest former Brexit secretary believes, it seems to me that the Brexit withdrawal agreement delivers almost exactly what the UK voted for in June 2016.

The reasons 17.4m people voted to leave the EU were mu...



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Kimble Charting Solutions

King Dollar Creating A Topping Pattern This Week?

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

King Dollar has spent the majority of the past 7-years inside of rising channel (1), as it’s created a series of higher lows and higher highs.

The 2018 rally has it kissing the underside of potential resistance this week at (2), where it could be creating a bearish reversal pattern. This one week action has NOT changed the upward trend in King Dollar.

If it breaks rising support at (3), odds favor that some selling pressure takes place in the US$, which metals would lov...



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Zero Hedge

IMF Sounds The Alarm On Leveraged Lending

Courtesy of ZeroHedge. View original post here.

Five months after the IMF sounded the alarm over junk bonds, it has now moved on to the credit market bogeyman du jour and overnight joined others such as the Fed, BIS, Oaktree, JPMorgan, and Guggenheim in "sounding the alarm on leveraged loans."

By Tobias Adrian, ...



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Insider Scoop

Analysts Cautious On Williams-Sonoma After Q3 Print

Courtesy of Benzinga.

Related WSM 48 Stocks Moving In Friday's Mid-Day Session 28 Stocks Moving In Friday's Pre-Market Session ...

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

Members' Corner

NY Times: OPERATION INFEKTION

 

This is a three-part Opinion Video Series from NY Times about Russia’s meddling in the United States’ elections as part of its "decades-long campaign to tear the West apart." This is not fake news. Read more about the series here.

OPERATION INFEKTION

RUSSIAN DISINFORMATION: FROM COLD WAR TO KANYE

By Adam B. Ellick and Adam Westbrook

EPISODE 1

MEE...



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Chart School

Weekly Market Recap Nov 11, 2018

Courtesy of Blain.

This past week was saw another positive move up by bulls – especially in the Dow and S&P 500; the NASDAQ was not quite as enthusiastic.   Wednesday’s rally was on the legs of an election that was seen as market friendly or at least not as bad as it could have been.   Essentially – paying people a lot of money to get nothing done the next 2 years – woo hoo!

The market is interpreting Wedneday’s result as insuring that “no big things will get done,” in Washington between now and 2020, Craig Birk, chief investment officer at Personal Capital told MarketWatch. “The market appreciates the relative certainty of the slow legislative agenda.” he said.

“As President Trump plans his 2020 reelection campaign, a gridlocked Congress is unlik...



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Digital Currencies

Bitcoin's high energy consumption is a concern - but it may be a price worth paying

 

Bitcoin's high energy consumption is a concern – but it may be a price worth paying

Shutterstock

Courtesy of Steven Huckle, University of Sussex

Bitcoin recently turned ten years old. In that time, it has proved revolutionary because it ignores the need for modern money’s institutions to verify payments. Instead, Bitcoin relies on cryptographic techniques to prove identity and authenticity.

However, the price to pay for all of this innovation is a high carbon footprint, created by Bitc...



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ValueWalk

Vilas Fund Up 55% In Q3; 3Q18 Letter: A Bull Market In Bearish Forecasts

By Jacob Wolinsky. Originally published at ValueWalk.

The Vilas Fund, LP letter for the third quarter ended September 30, 2018; titled, “A Bull Market in Bearish Forecasts.”

Ever since the financial crisis, there has been a huge fascination with predictions of the next “big crash” right around the next corner. Whether it is Greece, Italy, Chinese debt, the “overvalued” stock market, the Shiller Ratio, Puerto Rico, underfunded pensions in Illinois and New Jersey, the Fed (both for QE a few years ago and now for removing QE), rising interest rates, Federal budget deficits, peaking profit margins, etc...



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Biotech

Gene-editing technique CRISPR identifies dangerous breast cancer mutations

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

 

Gene-editing technique CRISPR identifies dangerous breast cancer mutations

Breast cancer type 1 (BRCA1) is a human tumor suppressor gene, found in all humans. Its protein, also called by the synonym BRCA1, is responsible for repairing DNA. ibreakstock/Shutterstock.com

By Jay Shendure, University of Washington; Greg Findlay, ...



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Mapping The Market

Mistakes were Made. (And, Yes, by Me.)

Via Jean-Luc:

Famed investor reflecting on his mistakes:

Mistakes were Made. (And, Yes, by Me.)

One that stands out for me:

Instead of focusing on how value factors in general did in identifying attractive stocks, I rushed to proclaim price-to-sales the winner. That was, until it wasn’t. I guess there’s a reason for the proclamation “The king is dead, long live the king” when a monarchy changes hands. As we continued to update the book, price-to-sales was no longer the “best” single value factor, replaced by others, depending upon the time frames examined. I had also become a lot more sophisticated in my analysis—thanks to criticism of my earlier work—and realized that everything, including factors, moves in and out of favor, depending upon the market environment. I also realized...



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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 ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

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.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

...

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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...

Learn more About Phil >>


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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.

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