Archive for 2007

Don’t Step on The Landmine!

Options Sage submits:

“Know everything you can about what you’re doing”  Fred Trump 

The quote above reminds me of the philosophy behind Phil’s Stock World.  While I have come across myriad traders who want the simple solution, the up-or-down arrows that don’t require any thought before committing to a trade, a select few of us want to know even more, we want to know everything we can about our subject and that approach usually produces the most success. 

 

In years of trading I haven’t come across anybody quite as dedicated as Phil to knowing everything about his subject; from the impact of energy on other commodities to the impact of commodities on the market, the influence of the dollar fluctuations, the impact of earnings and forward looking guidance on stock prices, the effect of implied volatility on strategy selection, the integration of strategy risk with virtual portfolio risk, the ability to distill the shifts in sentiment, fundamentals or technical charts into an informed opinion and a collection of winning trades and so forth.  For those of you that wonder what it takes, here is a snippet Phil wrote in response to a question from Kustomz in the “Strategery” section on March 6 as to what kind of market research he does in a typical day:

“I read the Times (paper cover to cover, not just business), the WSJ (electronic). watch Bloomberg and CNBC pretty much all the time (always with my post-its handy to follow up), I read a ton of magazines which I only read by the computer because I’m never satisfied with just what they tell you, I read IBD (paper), Trader Mike and Barry Ritholz, Briefing.com, Forbes.com, SeekingAlpha and Zacks.com”

I haven’t asked Phil but I’d hazard a guess that one time long, long ago, some market event surprised him and cost him money.  For that matter, it probably happened to Warren Buffett too or as Phil mentioned he wouldn’t have adopted Rule #1 as “Don’t lose money!”   I’ve got my fair of "I survived the market" t-shirts as well!  The key is to learn from the landmines that we sometimes step on and try to…
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Weekly Wrap-Up

 

That was sure better than last week.

We started last weekend off talking about hedging but we had little need for it as the markets made steady gains for most of the week.  Unfortunately, I'm still viewing it as a weak bounce, especially if we're not clearly over 12,300 by Monday.

 

We didn't need to trigger our mattress plays this week but PLEASE don't go into next week without at least one or two ready to trigger.  I always hate to be a chicken little (it's bad for ratings!) but a big chunk of the market definitely did fall just 10 days ago and it's just a little early to be going out without a helmet.  Impressive as a 2% gain in one week may be, it would have been a lot more impressive if it hadn't followed a 6% drop!

I particularly love Tom2oc's take on Google, which I was watching closely yesterday as well: "I wanted to see GOOG moving above the mid BB band today. Needless to say that this didn't happen today. Why it didn't happen I don't want to know, it just didn't happen. I believe this is bearish. Look at that chart and see how the price trends in the half parts of the bollinger bands in waves. Seems like we might be starting another wave down the bottom band now." 

I love TA guys!  I must have read 200 pages of information on GOOG this week, analyzed the potential threat from Wikipedia, the spillover effect from Yahoo's AT&T deal, Microsoft speaking out against them in a copyright dispute… but it didn't once occur to me that I could just choose not to know!   What a timesaver!    And I say this in all sincerity as Tom is on the money as often as I am, that's the beauty of good charting, many times news is just an excuse to make or break technical inflection points that were long in forming.

Tom is concerned we may be in a "falling rally" and so am I.  As I've been saying all week, I need more convincing than a 20% bounce and pure Fibonacci retracement is 38.2% – I would have been happy with 33% but we
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Friday Virtual Portfolio Moves

Posted March 9, 2007 at 9:46 am | Permalink (Edit)

I’m trying to buy out my DIA $120 putter for .20 and no one will sell it to me… Interesting.

Posted March 9, 2007 at 9:54 am | Permalink (Edit)

Oops, oils getting away from us to the downside!

VLO $60 puts still a good play at .80, XOM Apr $67.50s at .50 are a great play (half off at .75, tight stops)

TSO $95 puts as mo play or Apr $90 puts…

Posted March 9, 2007 at 10:07 am | Permalink (Edit)

Bought the XOM puts for .55

10853428 .DAWOP DIA MAR 120 Put 0.2 0.25 BTC 100 Limit 0.25 GTC $0.25 03/09/2007 9:59:49AM FILLED

10853722 .BACR BA MAR 90 Call 0.75 0.85 STO 20 Limit 0.80 GTC 03/09/2007  10:07:41AM

Posted March 9, 2007 at 10:22 am | Permalink (Edit)

COP still in la la land – Apr $65 puts just $1.10

10854200 .COPPM COP APR 65 Put 1.05 1.1 BTO 100 Limit 1.10 GTC $1.10 03/09/2007
10:20:49AM

PBR refuses to accept reality

10854253 .PBRPQ PBR APR 85 Put 1.5 1.7 BTO 50 Limit 1.65 GTC $1.70 03/09/2007 10:21:47AM

Posted March 9, 2007 at 10:43 am | Permalink (Edit)

10854937 .IHHDK ICE APR 155 Call 2.25 2.5 BTO 40 Limit 2.50 GTC $2.35

Posted March 9, 2007 at 10:51 am | Permalink (Edit)

10855126 .DAWPM DIA APR 117 Put 0.6 0.7 BTO 100 Limit 0.65 GTC 03/09/200710:50:00AM

THIS IS A DD MOVE AND ONLY BECAUSE I HAVE ENOUGH MONEY TO SELL PUTS AGAINST IT IF THE MARKET MOVES THE OTHER WAY, I DO NOT BELEIVE THESE ARE GOOD MONEY MAKERS WITHOUT SELLING VERY MARGIN EXPENSIVE HIGHER PUTS

Posted March 9, 2007 at 11:06 am | Permalink (Edit)

10855562 .VPRAF SBUX JAN 2009 30 Call 5.9 6.1 BTO 20 Limit 6.00 GTC 03/09/2007 11:05:39AM THIS IS THE BEGGINNING OF AN ACCUMULATE IN CHALLENG AND LTP!

 

Posted March 9, 2007 at 11:22 am |


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TGIF

Wow, what a week!

 

We couldn't have gotten the week off to a worse start  (well, we could, last week was actually worse) but we really pulled it out the last few days.  All we have to do today is hold the 12,200 line today and we can call it – well, not a success but NOT a failure!

David Fry maintains that this "rally" we're experiencing is a function of the Fed's arm of the fabled "Plunge Protection Team" as they injected tens of Billions of dollar in "repos" or short-term loans to the primary dealer network.  "Sometimes repos aren't even repaid, and when that happens money is created out of thin air. [Think money supply growth.]" Fry says "The primary dealers will use the money as they see fit, but may route much of it to their trading desks to play trade with."

So our government, which has no money, is giving your money to MS to bail out NEW using loans that may never be repaid (don't worry, they'll print more – that's the beauty of fiat monetary policy).  Surely the government can't just manufacture money and throw it at the markets – there must be some sort of law against it, right?

"The abandonment of the gold standard made it possible for the welfare statists (government bureaucrats) to use the banking system as an unlimited expansion of credit. In the absence of the gold standard, there is no way to protect savings from confiscation through inflation… Deficit spending is simply a scheme for the "hidden" confiscation of wealth." – Alan Greenspan

D Fry Market Outlook 09 03 2007_007

Asia finished up mixed with the Nikkei gaining half a point, bolstered (I am sure coincidentally) by C's massive offer for Nikko that we discussed yesterday as well as some good durable goods numbers out of Japan.  Super Banker Paulson left the Shanghai stock exchange in good shape, which was easy for him as they only lost $130Bn in value during that drop (Paulson probably had that much in just walking around money for the trip).

US markets, on the othe hand, lost a cool Trillion last week, pretty much the entire value of the China's stock market, which
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Thursday Wrap-Up

Not going down is good!

 

Going up more would have been better, there was nothing in today's action that made me sell my puts or even take out my DIA $122 caller (he paid me $1.31, now $1.50).

I was less than thrilled and ended the day in a bearish posture but nervous enough about it to have bets ready to break either way.  I think this rally is tentative at best but let's see how many of our indices made that critical 33% retracement we've been looking for:

  10 Day 3/5 Low     Goal
Index High Low Finish % Bounce 33%
Dow 12,786 12,111 12,260 22% 12,334
Transports 2,983 2,736 2,795 24% 2,818
S&P 1,460 1,374 1,401 31% 1,402
NYSE


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Thursday Virtual Portfolio Moves

Posted March 8, 2007 at 9:59 am | Permalink (Edit)

selling ptr $115s for $1.15 for $1.65

Posted March 8, 2007 at 10:01 am | Permalink (Edit)

10839899 .PBRPQ PBR APR 85 Put 1.65 1.9 BTO 20 Limit 1.90 GTC $1.90 03/08/2007 10:00:46AM FILLED

Posted March 8, 2007 at 11:05 am | Permalink (Edit)

10842245 .RQQCJ SPY MAR 140 Call 2.15 2.3 STC 20 Limit 2.15 GTC $2.15 03/08/2007  11:04:40AM

Posted March 8, 2007 at 11:06 am | Permalink (Edit)

10842296 .ATIDT ATI APR 100 Call 7.4 7.5 STC 20 Limit 7.50 GTC 03/08/2007
11:05:58AM I CAN ALWAYS ROLL UP – TOO MUCH PROFIT TOO SOON.

Posted March 8, 2007 at 11:55 am | Permalink (Edit)

10843711 IMAX IMAX CORPORATION 4.5 4.52 BUY 2000 Limit 4.55 GTC $4.52 03/08/2007  11:55:21AM FILLED

Posted March 8, 2007 at 12:03 pm | Permalink (Edit)

10843907 .BPPL BP APR 60 Put 1 1.1 BTO 100 Limit 1.10 GTC $1.10 03/08/2007
12:02:39PM FILLED

Nas 2,400 – only for a second… 8-(

Posted March 8, 2007 at 2:05 pm | Permalink (Edit)

GOOG flying down, I just took a chance and sold $560s against 1/2 of the $570s I bought today.

Also in Challenge virtual portfolio dumped June $470s (will buy back later)

10846346 .GOPFG GOOG JUN 470 Call 22.4 22.8 STC 20 Limit 22.40 GTC $22.40 3/8/2007 2:03:31 PM 3/8/2007 2:03:31 PM

Posted March 8, 2007 at 2:16 pm | Permalink (Edit)

10846597 .PBRPQ PBR APR 85 Put 1.7 1.8 BTO 20 Limit 1.80 GTC $1.80 03/08/2007  2:15:52PM DD’d

Posted March 8, 2007 at 2:24 pm | Permalink (Edit)

10846750 NEW NEW CENTURY FINANCIAL CORP 3.99 3.99 BUY 1000 Limit 4.00 GTC $4.00 03/08/2007 2:24:09PM FILLED

Posted March 8, 2007 at 2:32 pm | Permalink (Edit)

10846876 .MSOO MS MAR 75 Put 0.9 1 BTO 100 Limit 1.00 GTC $1.00 03/08/2007
2:32:12PM MO PLAY!

Posted March 8, 2007 at 3:06 pm | Permalink (Edit)

10847421 .IHHDK ICE APR 155 Call 2.65 2.8 BTO 20 Limit 2.85 GTC $2.85 03/08/2007 3:01:36PM FILLED

Ice was up 2% today, if the markets come back, they will come back so I dd and half out even to reduce my basis.

10847501 .DLQEX DELL MAY 22.5 Call 0.9 1 BTO 100 Limit 0.95 GTC 03/08/2007 3:05:07PM

 





Thrill a Minute Thursday

Fasten your seatbelts, we're in for a wild one!

[Combo]

Asia saw something they liked this morning (perhaps it was DHI's CEO's statement that 2007 was going to suck) and exploded out of the gate.  With all due respect to the elloquent Mr. Tomintz, I think that our own Super Banker, Paulson, made all the right moves on his China trip as he turned around market after market on his world tour.

"Efficient, developed capital markets will allocate resources more effectively and efficiently, allowing China to continue growing at a healthy pace, while spreading prosperity throughout the economy and giving Chinese citizens a better return on their savings and investments," Mr. Paulson said in prepared remarks for a speech today at the Shanghai Futures Exchange.

Way to read them the riot act Hank! (he was supposed to be there to push for currency reform but turning around global markets is so much more fun).

The Hang Seng gained 256 points (24% retracement of drop), Nikkei up 325 (28%) and India up 435 (28%).

Speaking of Paulson, GS boosted Toshiba's stock 4% with a buy, citing "a likely bottoming in the price cycle for NAND flash memory in the January-to-March quarter."  Nippon Steel gained ANOTHER 3.5% and, like I said yesterday when Daewoo and Posco rallied, "people over there aren’t all that worried about a major slowdown."

 

Not much of note is going on in Europe (as usual) other than the fact that Russia is trying to give Iran a nuclear reactor but Iran can't keep up with the payments ($25M per month).  Atomstroiexport Vice President Yevgeniya Neimerovets said Iran hasn't made any payments since Jan. 17, which "has put our partners and subcontractors in a very difficult position."  Do I even have to mention how frightening it is that, not only are the Russians building reactors for other countries but the do it often enough to have a company called "Atomic Exports."

The DAX is on a 30% rebound (6 am), the CAC 40 has retraced 40% and the FTSE has come back 37% in the last 3 sessions.

Pure Fibonacci retracement
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Wednesday Wrap-Up

We did not take out our levels!

We didn’t like the way the market was looking in the afternoon, especially after DHI’s CEO Tomintz said ""I don’t want to be too sophisticated here,but 2007 is going to suck, all 12 months of the calendar year."  I can’t wait to see how they write that up in the 10-Q!  He said excess inventory, built up during a five-year boom cycle that saw land purchases and housing construction reach all-time highs, is the biggest problem facing the sector.

Still there was tremendous improvement in the LTP (which we didn’t touch), up to a 115% gain now and our now very bullish ST Virtual Portfolio held firm, as did our new challenge virtual portfolio so, rather than panic and dump positions, we took a cover on April DIA $120 puts for $1.40 as insurance.

As they say in the commercial, buying and selling stocks constantly doesn’t make any sense but taking insurance to protect your positions often does.  No matter what the market does tomorrow, we’ve bought insurance that will protect us until April (and we can still sell closer puts against it).

The markets ended mostly flat and we are still looking for the same levels so we’ll just go over those in the morning.

Oil was a bit depressing, finishing just shy of $62 while gold punched back over $650 by $2.  As I said on Tuesday morning: " The NYMEX barrel count is now more under control, which means there is room for major league shenanigans."

The oil inventory was a huge drawdown (4.8Mb crude, 3.8Mb gasoline and 1.3Mb distillate) due, in large part to imports being down 650Kbd from last week (4.5Mb) which was due, in another large part, to the Houston Ship Channel being shut down for part of the week.  Refiners were down to 85.8% of capacity, which is about 25Mb per day so that’s 26Mb per week they’re not producing. 

Even if they just put out one or two fires and started making product, say 90% utilization, that would add 1Mbd and we would have a weekly surplus (not that we really need it with 1.673Bn barrels in US storage).  Of course, to say there’s no incentive to increase utilization is a major understatement – both VLO and BP had significant outages this week and and VLO is
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Wednesday Virtual Portfolio Moves

Posted March 7, 2007 at 10:04 am | Permalink (Edit)

STP 03/07/2007 Buy Open 50 XOMPU Limit Day 0.8000 0.80 – Trying to DD XOM Apr $67.50 puts for .80

Posted March 7, 2007 at 10:35 am | Permalink (Edit)

10827029 .VLOCL VLO MAR 60 Call 0.65 0.7 BTO 100 Limit 0.75 GTC $0.70 03/07/2007
10:33:33AM FILLED – COVER PLAY

Posted March 7, 2007 at 10:54 am | Permalink (Edit)

VLO – tough one to set a stop, they flush a lot – more important to set a tight stop (.10) as soon as they hit .90 on 1/2, then you’re in for .60 on the remainder and you can set a .75 stop on the rest.

================================================

Damn, just realized I posted the VLO twice instead of this!

10827187 .XOMOX XOM MAR 72.5 Put 1.5 1.6 STO 100 Limit 1.30 GTC $1.40 03/07/2007
10:38:20AM FILLED – this is agressive, in my own account I sold half.

Posted March 7, 2007 at 12:29 pm | Permalink (Edit)

10830134 .PTRFD PTR JUN 120 Call 2.55 2.9 BTO 100 Limit 2.75 GTC 03/07/2007
12:28:00PM THIS WILL BE PARED WITH SALE OF PTRCC – MAR $115s FOR $1.10

Posted March 7, 2007 at 12:47 pm | Permalink (Edit)

10830404 .VLOCL VLO MAR 60 Call 1 1.05 STC 50 Limit 0.95 GTC $0.95 3/7/2007 12:46:33 PM 3/7/2007 12:41:09 PM FILLED

The important thing about these mo trades is I bought 100 shares BECAUSE I wanted 50 at a lower price. If you forget what your plan was you get yourself into trouble!

Posted March 7, 2007 at 1:32 pm | Permalink (Edit)

10831398 .AXPDL AXP APR 60 Call 0.3 0.4 BTO 50 Limit 0.35 GTC 03/07/2007
1:31:28PM THIS IS A dd SO 1/2 OUT AT .50 IF IT GETS THERE

Posted March 7, 2007 at 1:48 pm | Permalink (Edit)

10831690 .XOMOX XOM MAR 72.5 Put 0.75 0.8 BTC 40 Limit 0.80 GTC 3/7/2007 1:47:58 PM

Buying back 40 of…
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Wary Wednesday Morning

We need to take out those levels.

We need to take out those levels.  We need to take out those levels.  We need to take out those levels.

Did I mention that we need to take out those levels?  Ah good because we really need to take out those levels….  (if you don’t get "The Shining" reference you really should make some popcorn and rent it)

Anyway, we must take out these levels as yesterday’s action was just not that impressive.  It was good, but not great… 

We face a real test already today as Asia pulled back already with the Hang Seng giving up 139 points, the Nikkei dropping 79 and India dropping 117 yet the WSJ chooses to go with (and I quote): "Asian markets ended mostly higher Wednesday as shares continued to recover from last week’s losses, but Japan finished slightly lower as exporters lost ground in volatile trading."

Come on guys, take off the pom-poms and do some reporting!  Investors count on you to give them unbiased, unvarnished information and I just don’t see how a combined 337-point drop (-.75%) in those 3 MAJOR markets against  438 points worth of gains from Australia (1%), Indonesia (.6%), Pakistan (2%), Philippines (3%), Singapor (.7%), S. Korea (.6%) and Taiwan (.4%) can be called "mostly higher."

The Shanghai composite, which did start this whole mess off, did finish 2% higher and that is our "shining" (see how it all comes around) ray of hope, and it should be good for our FXI leaps as well!  Daewoo and Posco made big gains, indicating people over there aren’t all that worried about a major slowdown.

Super Banker, Paulson, has donned his cape and flown all over Asia this week plugging up all the leaks in the financial markets with many encouraging words but today he’s heading to China to talk about currency controls so let’s watch our interest rates closely this session to see how it’s going.

On 2/20 I told you "C is getting big in Japan, looking to get listed on the Tokyo Stock Exchange, which will make it easier for them to acquire Japanese banks!" and at the time the anonymous Citigroup spokesman said "We have not yet, however, made any decisions at this stage of the study."  Here we are just 3 weeks later and Citigroup is all hot an heavy with a $10.8bn offer for Nikko Cordial,…
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Zero Hedge

Enemy Of The People?

Courtesy of ZeroHedge. View original post here.

Via The Zman blog,

There has never been a time when normal people did not know the media was biased and biased in a predictable direction. For every non-liberal in the media, there were at least ten liberals. The ratio was probably higher, but then, as now, some lefties liked to pretend they were independents or some third option.

The media used to invest a lot of time denying they had a bias and an agenda, but the only people who believed them were on the Left, which had the odd effect of confirming they had a bias and an agenda.

...



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Phil's Favorites

A 2019 Earnings Recession?

 

A 2019 Earnings Recession?

Courtesy of 

Shout to Leigh!

On the new Talk Your Book – Josh Brown is joined by Leigh Drogen of Estimize, one of the leading providers of crowdsourced financial and economic data to talk about the trend in corporate profits that could potentially lead to an earnings recession later this year.

What is the thing that Leigh is seeing in the data that Wall Street isn’t yet picking up on? What segment of the stock market is most at risk? Why is the crowd smarter than the narrow consensus of Wall Street analysts?

Check out Estimize ...



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ValueWalk

D.E. Shaw Investment Calls For Leadership Change At EQT

By ActivistInsight. Originally published at ValueWalk.

Elliott Management has offered to acquire QEP Resources for approximately $2.1 billion, contending the oil and gas explorer’s turnaround efforts have done little to lift the company’s share price. The company responded and said that a thorough review of the proposition is imperative in order to properly act in the best interests of shareholders, “taking into account the company’s other alternatives and current market conditions.” The news came only a month after Travelport Worldwide agreed to sell itself to Siris Capital Group and Elliott’s private equity arm Evergreen Coast Capital for $4.4 billion in cash and two months after Athenahealth was bought by Veritas and Evergreen for $5.7 bi...



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Kimble Charting Solutions

Gold & Silver Testing Important Breakout Levels!

Courtesy of Chris Kimble.

Gold and Silver from a long-term perspective have created a series of lower highs over the past 8-years. Will 2019 bring a change to this trend? A big test is in play!

Gold since the lows in 2016 has created a series of higher lows, while Silver may have created a double bottom.

Gold & Silver are currently facing break attempts a (1) and (2). These falling resistance lines have disappointed metals bulls for the past few years.

The direction of Gold and Silver weeks and months from now should be highly influenced by what each does as they are attempting to break above important resistance levels.

To become a member of Kimbl...



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Insider Scoop

UBS Says Disney's Streaming Ambition Gives It A 'New Hope'

Courtesy of Benzinga.

Related DIS Despite Some Risks, Analysts Still Expecting Double Digit Growth From Communications Services In Q4 ...

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

Digital Currencies

Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions

Courtesy of Zero Hedge

While the market has been increasingly focused on the rising headwinds in the global economy in general, and China's economic slowdown in particular, while the media is obsessing over daily revelations that Trump may or may not have colluded with Russia to get elected, a far more critical, if underreported, shift has been taking place over the past year.

As we reported in June, whether due to concerns over draconian western sanctions and asset confiscations following the poisoning of former Russian military officer Sergei Skripal, or simply because it wanted to diversify away from the dollar, Russia liquidated virtually all of its Treasury holdings in the late spri...



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Chart School

Weekly Market Recap Jan 13, 2019

Courtesy of Blain.

In last week’s recap we asked:  “Has the Fed solved all the market’s problems in 1 speech?”

Thus far the market says yes!  As Guns n Roses preached – all we need is a little “patience”.  Four up days followed by a nominal down day Friday had the market following it’s normal pattern the past nearly 30 years – jumping whenever the Federal Reserve hints (or essentially says outright) it is here for the markets.   And in case you missed it the prior Friday, Chairman Powell came back out Thursday to reiterate the news – so…so… so… patient!

Fed Chairman Jerome Powell reinforced that message Thursday during a discussion at the Economic Club of Washington where he said that the central bank will be “fle...



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Members' Corner

Why Trump Can't Learn

 

Bill Eddy (lawyer, therapist, author) predicted Trump's failure based on his personality, which was evident years ago. This article, written in 2017, references a prescient article Bill wrote before Trump became president, in July, 2016, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...



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Biotech

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 www.shutterstock.com

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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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:

 

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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.

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