Archive for 2007

Index Round-Up ’07

"We have problems on the North, South, East and West,
New York City, Saint Louis, Philadelphia, Los Angeles,
Detroit, Chicago,
Everybody has problems,
And personally, I don't care."
Alice Cooper

I wish I could say I was happy to put this year behind us but it's been a fantastic year and I doubt we can expect the same from 2008.  We have many burstable bubbles that may join the housing bubble in decline including oil and metals as well as Asian markets if we get a stall over there.

I continue to believe that US equities are the least sucky place for global investors to put their money in '08 for the same reasons I outlined in August, when we were still below 13,100 and we had just made our bottom call the week before.  Although the Dow, Nasdaq and the NYSE are well up since then, we've lost ground on the Transports, S&P and SOX so our mission for January is clear – will the top three come down or will the bottom three come up (the Russell is our tiebreaker).

There you go, that's everything you need to predict the markets in Q1.  Now let's take a closer look at our indices:

Dow – Weak dollar means strong International sales plus lots of dividends make for a fun "flight to quality play" (if you can call GM quality that is).  We are sitting exactly on the 200 dma at 13,350 with the 50 dma about to form a "Death Cross" and it will only take the smallest bit of bad news to push us to retest the 2007 lows around 12,500 whch is how I agree, yet disagree with Stuart Freeman (BusinessWeek's market forecast winner of '07) as he sees the Dow bottoming in the summer in the low 12,000's but I see it going lower now and topping in the summer, perhaps close to 15,000 but we both see the year ending around 14,500.

Transports – This is the Achilles heel of the Dow as the energy sector must fall for the transports to prosper.  $100 oil is now required for oil companies to grow into their values but it's already murdering the consumers and driving up costs for the transports – their own private little…
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(Option Spread) Cost Averaging

When I typed ‘dollar cost averaging’ into Google, the search engine returned 493,000 results which ranged from “Dollar Cost Averaging Pays’ to ‘Dollar Cost Averaging’s not all it’s cracked up to be’. So which is it?
By purchasing a fixed dollar amount of stock at regular intervals, the expectation is that a trader will never suffer from buying all at once at peaks, at the expense of never gaining from buying all at once at the absolute bottom either. The approach can be successful when trading retirement accounts or indeed contributing to Employee Stock Purchase Plans. Both are implicitly designed for non-sophisticated investors who have little interest in actively monitoring their virtual portfolios. Dollar cost averaging can also be commission intensive and capital intensive. That’s where options offer a much more attractive solution to dollar cost averaging.
Rather than spend money at regular intervals to purchase stocks, options afford us the opportunity to get paid at regular intervals to agree to purchase a stock. Let’s take a look at how to implement this strategy first and then look at some of its benefits.
We’ll assume that I find a company that I believe has reasonable fundamentals but I am not particularly comfortable about buying it at its current price level. We will use Manitowac (MTW) as an example. The stock is trading at $49.09 which is perilously close to its recent 52-wk high of $51.49 and still a few dollars above its 20-day EMA at $46.84. So technically it’s not screaming a buy but fundamentally I might be attracted to its 32% return on equity, its Price/Sales figure of 0.64 and its PEG ratio of 0.84 and its projected earnings growth of 29% next year. Rather than start to buy at its current level I can agree to get paid to buy the stock near its 20-day EMA level, where it has bounced numerous times over the past 6 weeks. The way to do this is via a bull put spread.
A January bull put spread strike 47.50/42.50 offers $0.95 of premium for a period of 19 days, equating to a reasonable 23% return on risk for the timeframe. If the stock stays above the $47.50 level, the short puts will expire worthless, but if it drops below that level the trader is required to purchase the stock for $47.50 per share minus

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2007 Wrap-Up

That was a nice, short week and, with one day left, I'll take a chance that we can wrap up 2007 a day early.  This is smart as we're hosting a party on Monday so the chance of me doing an overview Tuesday is very slim!.

It wasn't a very good Santa Clause rally to end the year - we're right back where we started from, just over the top of my 13,300 level but Wednesday's move gave us the perfect chance to exit our positions as planned and we're ready to face the new year with a leaner and meaner set of virtual portfolios.

The Short-Term and Long-Term Virtual Portfolios have both been reset to $1M, the Stocks Virtual Portfolio is down to just MRB at $250,000 to start the new year and, Complex Spreads have been dropped to $500K (pretty much all Google) and the Happy 100 has $100,440 in cash plus just 40 AMGN $52.50s so at least we're going to get our money back!  On the 18th I'll be using that slot to start a new Free Picks Virtual Portfolio for our new newsletter subscribers – the last Free Picks Virtual Portfolio we ran was one of our best performers of the year.

Our $10KP held flat for the week at $12,838 (up $200) but we raised a little cash and that was our main goal.  The $25,000 Virtual Portfolio rocked on with a $5,400 gain to $158,582.  More importantly, we raised our cash level to $87,822 (55%) which is a level I can live with over the holiday weekend.

So that's it, we're ready to start a brand new year and I want to thank everyone who's been here for our first one.  As a thanks to our members, we're initiating a discount program for everyone who's been with us for a year as well as a referral program outlined in this post.

We've had a fantastic year, making really great gains but there was luck AND timing that made our gains truly epic:


January was uneventful and we had just broken over 12,500 in February but, in my 2/25 Weekly Wrap-Up, I noted: "We started the week with Super Market and ended the week with Clark Kent."  That Tuesday the WSJ…
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Thursday Virtual Portfolio Moves

November 29th, 2007 at 9:41 am | Permalink   edit   copy

SU – I’m going to DD at $2.50 for a $2.95 basis and get 1/2 back out there and then be patient. XXX

November 29th, 2007 at 9:42 am | Permalink   edit   copy

Still plenty of buyers out there, this is nothing I want to short into right now but BIDU is looking like a fantastic short up here if GOOG breaks down.

November 29th, 2007 at 9:46 am | Permalink   edit   copy

SPWR, FSLR going vertical! Also going to be good shorts when oil calms down but for now they are rallying the sector.

SHLD broke below $100, I’ll be buying more when it settles down but this is now a long-term play.

November 29th, 2007 at 9:51 am | Permalink   edit   copy

Weak stocks that worry me: DELL, YRCW, NYX, LEH, AXP (very nasty turn), TGT, BSC, MER, NKE, HD (how can it keep going down?)…

I like shorting MA off AXP’s move MA $190 puts at $6.25, stop at $5.50, going for $9+ XXX

November 29th, 2007 at 10:05 am | Permalink   edit   copy

AAPL – any opportunity to do a double roll of your call and your caller up $5 for $1 out of pocket is worth taking. For example, I have the $175 calls, now $10.22 and I sold the $165 calls, now $17.57 and I’m going to roll my caller to the $175s for $7.35 out of my pocket and I will roll myself to the $185s at $4.78 collecting $5.44. This costs me $2 but moves my max collection all the way up to $175 (of course this also means I don’t expect Apple to hold $180). XXX all virtual portfolios!

New home sales much better than expected but not a real number but it should goose the markets until people look at the internals. Supply is still up and sale prices are down but expect a very nice buider rally off the headline and let’s keep an eye on the financials to see if anyone is buying this.

November 29th, 2007 at 10:18 am | Permalink   edit   copy

Oh sorry, I forgot to mention take the money and run on the GOOG $710s in the $25KP, we still have the $730s but I don’t want to leave them both up.

November 29th, 2007 at 10:40 am | Permalink   edit   copy
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Call volume spikes in Wendy’s…as Cree’s Cinderella run may have short legs

Today’s tickers: CVTX, WEN, EEM, CREE, AAPL, GE, C, PSUN & VIX

CVTX – It’s been a tempestuous year for CV Therapeutics, the maker of drugs in the subfield of molecular cardiology. Having commenced the year in rude good health at $14.67, CV Therapeutics shares took an ignominious turn for the worse to $6.43 by March, trudging slowly back to the $13 level in late July, and then suffering another downturn in the latter half of the year. The current $9.46 share price reflects a 5% decline on yesterday’s close as the company puts the wrap on a year of negative 32% returns – gapping below the Russell 2000 Health Care Index by some 45%. Last week the company was in the news after confirming that FDA officials had put their rubber stamp on the product labeling for Ranexa, its cardiac angina drug. But it’s today that our interests were raised in the ticker, owing to a surge in option volume to nearly 19 times the normal level. This appeared tied up in fresh bear call spread activity involving 5,000 lots at each strike in the April contract. It looks as though a trader sold calls freshly in the at-the-money 10.0 calls for $1.25 to open the transaction with a credit against the purchase of out-of-the-money calls at the 15 strike for $0.30 apiece. In this case, the trader is content to limit the maximum profit to the $0.95 net premium received at the outset, confident that CV Therapeutics shares will remain below the $10 threshold into April, rendering both calls worthless.

WEN – We hate to mingle fast food metaphors, but a whopper of a trade in Wendy’s January 40 calls early this afternoon contributed to the single-largest call volume day for its options since the height of speculation over a possible Nelson Peltz bid for the burger chain back in mid-November. Overall volume in Wendy’s options spiked to nearly 9 times the normal level on the trade. It’s interesting to note the degree to which option implied volatility has remained consistently high in the interim, and the current reading of 48.4% is a near juicy-double of the 25.8% historic reading. Directionally, we’re interested in this transaction, as existing open interest at the strike built up over the fall, prior to Peltz’ first bid, when the prevalent mood was still one of hyperbolic enthusiasm as regards the kind…
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Friday Already?

Whee, that was fun yesterday wasn't it?

I didn't do a wrap-up as we reviewed the $25K Virtual Portfolio and, as I said to members, I didn't think too much of yesterday's sell-off while it was in progress.  Sad though Bhutto's assassination was, it was a fait accompli from the moment she entered the country – something we've been discussing since the first attempt on 10/19, which was that week's excuse to drop the markets 300 points.  We recovered most of the loss the following week and we can expect the same here providing, of course, nothing else happens.

Now that the opposition has been eliminated, Musharraf has said he'll be happy to go ahead with the elections – let's hope this doesn't give the Republicans any ideas! 

The markets were looking for an excuse to vent a little and at 12:37 on Wednesday as  we were rallying into the close I had already warned: "My Jan puts stopped out – all Jans should be leaning towards cash if they are yours."  I don't like the Jan positions anyway as there is just not enough time to adjust them in a big market move and Wednesday's action seemed very toppy to me.  That coupled with my predisposition towards cash going into the holiday weekend kept us out of trouble yesterday.

As we can already see from pre-market action, it was a little early to hit the panic button but I sure am glad I'm mainly in spectator mode as we whittle down our virtual portfolios, getting ready for a brand new year.  While it's somewhat arbitrary to close out positions based on the calendar, it's as good a reason as any to take profits off the table and refine our strategies for investing over the next 4 quarters

Our Long-Term Virtual Portfolio is immune to the annual rollover but the Short-Term Virtual Portfolio is looking comparatively sparse, with just 38 remaining positions and 90% cash.  I'll be taking some of the larger plays off the talbe (FSLR spreads, FXI puts, Jan DIA and SPY puts, RTP puts) in order to make the new plays more accessible next month when we reset the virtual portfolio at $1M.

My secret plan for next year is to run the new $25KP up to $50K, then make a $50KP that we run up to…
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The Untouchables

We were having a discussion yesterday about the Dalit, the "untouchable" caste of India so I thought it was a good time to discuss the value of not touching your virtual portfolio.

I like to use the $25KP because it’s a good blend of our two strategies; a modified version of our LTP strategy (but with mid-term long legs) and the targeted plays of the STP.  Combining our two disciplines in one virtual portfolio has been successful all three times we’ve run the $25KP this year and it’s been a lot of fun to play but, much more importantly, a well-balanced virtual portfolio like this can be lots of fun NOT to play - as we recognize that small virtual portfolio players may have a life outside the markets, so we balance our trades to make sure they stand up to the daily swings in the market.

Today we had quite a swing – a nice 198-point drop in the Dow, presumably over an assassination but that’s just market shorthand for one of those things that can happen at any time.  I myself was called away on an emergency today (mission accomplished, by the way!) and was unable to do more than take a quick peek at the action between meetings.  For people who have to earn an actual living, this (I hear) happens a lot and, if you want to do well at your job, you need to have a virtual portfolio that can be left alone for a day without costing you a week’s pay.

We just did a $25K Virtual Portfolio review on Wednesday morning but, as I like to do once in a while and as I will continue doing until every single member learns to stress-test their virtual portfolios and find the right mixes in order to make what Charles Dow called "a reasonable return" without an abundance of "speculation."

Without being touched, our $25K virtual portfolio would have gone from $153,997 on Wednesday to $154,967 as of today’s close.  While not a spectacular gain, this is what a stress test is all about – how do we survive a 150+ point drop in th Dow?  Had we lost more than $4K (2.5%), I would have said: "Gee, I guess we need some more puts" and done something about it.  There is no magic formula for balance, we build up to is as we build our virtual portfolio
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Thursday Morning

Before_an_afterI'm not going to be around most of today as I have a meeting but I'm urging caution and here's why

We took a look at the international markets and gave an overview of sector strengths and weaknesses last night.  Despite some decent looking data, something was still bothering me and I reread my post from Monday, the 17th and remembered what it was – the consumer!  Last Monday we reviewed the CNBC poll and, at the time, I noted that a very delusional 87% of the people surveyed do not expect home prices to decrease next year.  On this basis they have gone out and run up record credit card bills this season.

What if they all just made a huge mistake?  This Monday (what is it about Mondays?) I noted that credit card defaults and late payments in general were zooming into uncharted record territory.  I was going to discuss the flaws in the retail shopping data but Barry Ritholtz did an excellent job of it yesterday.  This gist of it is that there were more shopping days this year and, even with that significant boost, spending did not keep up with even the "core" CPI increase of 2.2%.  That indicates retailers lost ground for the year and that the consumer may be deader than the MSM would have you believe.

I thought I was going crazy because I'm a professional business consultant and I mentioned in the Monday post that the Mall looked tragic to me, particularly the jewelry stores, but CNBC et al made me think I was wrong with their celebratory coverage yesterday.  Now the actual data reflects my initial impression, right down to the total disaster in the jewelry biz - so I feel better (about my analytical skills, not the economy!).  When exactly did the media become the enemy of the truth in this country?  Another truth we got yesterday was the Case-Shiller Home Price Index, which showed  a 6.1% decline in home prices over last year – the worst EVER!


According to Robert Shiller himself: "No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim. Not only did the 10-City Composite post a record low in its annual growth rate, but 11 of
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Wednesday Wrap-Up

That was a nice, dull day!

We weren't expecting much action and we didn't get it except from some of our momentum players like AAPL, who hit a new high and GOOG, who went back through $700 with some authority.  BA is still grounded at $90 but AIR, who services planes, took off to record highs on big volume.

On the whole, 238 stocks made 52-week highs yesterday BUT 268 less well-known stocks snuck down to 52-week lows.  On the high side, of stocks we follow, we had AAPL, ACI, ADM (as usual), AIR, ATVI (on fire), BTU (used to make fire), CBI, CMG, CNX, CPST, DE, DECK, DO, ESLR, ESRX, FSLR, GPS (a retailer!), HES (up and up for a month), HET, HRL (spam, spam, spam), ICE, JASO (pretty much anything solar), JOYG, MON (pretty much all Ag), MUR, OXPS, OXY, PEET (interestingly the opposite of SBUX), POT, RICK (never stops), RIG, SI, SOLF, SWIM, TIVO, TRAD, TSCM (Merry Christmas Cramer!), UL, VIP, WFT, WU and XLE.

New lows of note were ABN, APAB, BIG, BOFL (many small banks), BSC, CACH, CC, CHS, CMRG, DHOM, DUG, F, HOT, IHG, IPSU (interesting commodity story), M, MBTF, OCR, OMX, PMTI, RT, WM (still going down), WMW and ZLC.  Of the lows, the only ones that are surprising to us are BSC, WM (who we thought were done going down), DUG and ZLC. 

On the whole, this is good for our virtual portfolios as we're seeing gains where we expected them with few downside surprises but I'm hesitant to draw any major conclusions on a low-volume week.  We did get the Nasdaq leadership we like to see but oil and gold were romping as the dollar seems to have been firmly rejected at $78 after a nice, month-long run.  End of year money went into the IBD 100 stocks, agriculture, internet services, metals and semis.  Home builders, home retailers, home insurance, retail and publishing/broadcast (ad sellers) were hit hard.  I found this to be an interesting mix because it shows a recessionary sentiment but NOT for the high flyers – as if they operate on some different planet than "regular" stocks.

My concern is we're just looking at year-end window dressing, aided by a slosh of cheap money flowing in from Europe.  We probably won't know for sure until after next week, when the big boys…
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Optimists still exist at Dillards

Today’s tickers: PDE, AOB, DTV, EWH & DDS

PDEPride International Inc. This oil drilling specialist services company appears as one of our hottest options families by volume today as it appears that an investor continues to build a substantial position in deeply embedded call options. Share are higher by 2.1% at $33.40, but on further examination we note a build on 50,000 lots of open interest in the January 2009 calls at the 20 strike from last week. Those calls were bought at 13.40 one week ago and today’s action involves a similar amount of calls at 14.15. Although this could be profit taking following the company’s recent monthly report on its 2008 capital budgeting, we’re going to stick our necks out and make the bold assertion that some investor is banking on a run up in the stock and finds deep-in-the-money calls as a convenient way to do so.

AOBAmerican Oriental Bioengineering shows unusual but significant option volume Wednesday. With shares trading up 1.3% at $11.33 we have observed option volume of 53,000 contracts trading representing 40% of current open interest. The activity involves the January 2009 series where the 10 calls were sold 13,900 times, while the 10 puts were bought in roughly the same amount. That strategy would result in a net credit of 1.50 per contract. However, we also observe open interest at both of these strikes, which could indicate that an investor is closing a long call and short put combination. Such a position appears to have been build in early November at a net cost of 2.70. It could be that judging by the almost identical volume at the 12.50 strike, the investor is rolling the position to a higher strike. We can’t tell in which direction this combination trade was placed since both call and put were dealt at mid-market prices. What we can say is that the net cost if this was a replacement strategy was at 1.10 with calls costing 2.5 and puts perhaps sold at 3.60.

DTVDirectTV Inc. Despite a 1.1% decline in its share price today to $23.94, a bullish option play is flashing red on our screening devices today. Given the current existing open interest of just 5,161 contracts in the January 2008 22.5 puts, today’s 9,686 lots transacted to the sell side at 0.30 premium indicates some investor confidence that…
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Zero Hedge

11 Dead After 2 Ships Catch Fire In Kerch Strait, One "Struck By A Blast"

Courtesy of ZeroHedge. View original post here.

At least 11 sailors have died after two ships caught fire while moving through the Kerch Strait separating Crimea from mainland Russia  - the location of the latest escalation in tensions between Russia and Ukraine in November - after one of them was apparently rocked by an explosion the Russian Maritime Agency said. One vessel was "allegedly struck by a blast" ...

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Phil's Favorites

Martin Luther King Jr., union man


Martin Luther King Jr., union man

Dr. Martin Luther King Jr. on the picket line at the Scripto plant in Atlanta, Ga., December, 1964. AP

Courtesy of Peter Cole, Western Illinois University

If Martin Luther King Jr. still lived, he’d probably tell people to join unions.

King understood racial equality was inextricably linked to economics. He asked, “What good does it do to be able to eat at a lunch counter if you can’t buy a hamburger?”

Those disadvantages have persisted. Tod...

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Chart School

Weekly Market Recap Jan 20, 2019

Courtesy of Blain.

After entering the week quite overbought, indexes took a small retreat Monday before hurling back upwards.  This is typical of the “V” shaped moves up after any significant selloff, we’ve seen most of the past decade and watching them unfurl is quite amazing actually.  Thought maybe this time would be “different” but not so much.  So two week’s ago we asked “Has the Fed solved all the market’s problem in 1 speech?” – and thus far the market has answered resoundingly yes.  The word of the year thus far in 2019 is “patience” as that simple insert into a speech change the whole complexion of everything.

China has also been busy stimulating; on Tuesday:

An announcement from the People’s Bank of China that ...

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Everyone Else Is Selling Stocks, So Is It Time To Buy?

By Michelle Jones. Originally published at ValueWalk.

After a difficult few trading days in the beginning of the year, U.S. stocks are bouncing back with meaningful gains on Monday following Friday’s strong rally. The S&P 500, Dow Jones Industrial Average and Nasdaq 100 were all up by more than half a percent by midday. It looks like investors could be taking advantage of the end-of-the-year declines, but is this a wise time to be buying?

Trying to time the bottom of the market will almost always be a fool’s errand, but one firm suggests equities could have much farther to fall before they hit bottom in 2019.


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Kimble Charting Solutions

Stock declines did not break 9-year support, says Joe Friday

Courtesy of Chris Kimble.

We often hear “Stocks take an escalator up and an elevator down!” No doubt stocks did experience a swift decline from the September highs to the Christmas eve lows. Looks like the “elevator” part of the phrase came true as 2018 was coming to an end.

The first part of the “stocks take an escalator up” seems to still be in play as well despite the swift decline of late.

Joe Friday Just The Facts Ma’am- All of these indices hit long-term rising support on Christmas Eve at each (1), where support held and rallies have followed.

If you find long-term perspectives helpf...

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Digital Currencies

Transparency and privacy: Empowering people through blockchain


Transparency and privacy: Empowering people through blockchain

Blockchain technologies can empower people by allowing them more control over their user data. Shutterstock

Courtesy of Ajay Kumar Shrestha, University of Saskatchewan

Blockchain has already proven its huge influence on the financial world with its first application in the form of cryptocurrencies such as Bitcoin. It might not be long before its impact is felt everywhere.

Blockchain is a secure chain of digital records that exist on multiple computers simultaneously so no record can be erased or falsified. The...

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Insider Scoop Explores Strategic Alternatives, Analyst Sees Possible Sale Price Around $30 Per Share

Courtesy of Benzinga.

Related 44 Biggest Movers From Yesterday 38 Stocks Moving In Wednesday's Mid-Day Session ... more from Insider

Members' Corner

Why Trump Can't Learn


Bill Eddy (lawyer, therapist, author) predicted Trump's chaotic presidency based on his high-conflict personality, which was evident years ago. This post, written in 2017, references a prescient article Bill wrote before Trump even became president, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...

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Opening Pandora's Box: Gene editing and its consequences

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


Opening Pandora's Box: Gene editing and its consequences

Bacteriophage viruses infecting bacterial cells , Bacterial viruses. from

Courtesy of John Bergeron, McGill University

Today, the scientific community is aghast at the prospect of gene editing to create “designer” humans. Gene editing may be of greater consequence than climate change, or even the consequences of unleashing the energy of the atom.


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Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...

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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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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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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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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 >>