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Friday – NYMEX Terrorists Stop Delivery of 144M Barrels of Oil to US!

Help, we're being attacked!  

Not by foreign terrorists, but by the market manipulators who trade at the NYMEX and FAKE Billions of barrels of orders each month in order to drive the price of petroleum higher for US Consumers.  Not only do the FAKE demand during the month, but they also then CANCEL the FAKE orders in order to create ARTIFICIAL supply shortages – just ahead of the summer driving season.  

This is Financial Terrorism of the highest order yet our Government sends no troops out to the trading floor and orders no drone strikes on the ivory towers where the Banksters mastermind these attacks on the US economy every month, costing American Citizens hundred for Billions of Dollars every year in excess energy costs.  

Last Friday, I told you that the 172,551 open contracts that guaranteed delivery of 172,551,000 barrels of crude to the US in July were FAKE and that all but 20,000 of them would be canceled by today.  This morning, there are only 28,550 open contracts remaining.  That means that 144 MILLION barrels of oil that were scheduled for delivery to supply the US in July have been CANCELED, in order to create an artificial shortage of 36M barrels per week next month.  

Click for
Chart
Current Session Prior Day Opt's
Open High Low Last Time Set Chg Vol Set Op Int
Jul'14 106.60 106.75 106.33 106.49 07:38
Jun 20

 


-
0.06 1537 106.43 28550 Call Put
Aug'14 106.10 106.25 105.81 105.99 07:38
Jun 20

 


-
-0.06 17587 106.05 314447 Call Put
Sep'14 105.27 105.41 105.05 105.20 07:38
Jun 20

 


-
-0.10 4119 105.30 187262 Call Put
Oct'14 104.35 104.40 104.09 104.21 07:38
Jun 20

 


-
-0.14 1811 104.35 126731 Call Put

As we've noted over the past week, since we KNOW how they manipulate the oil markets, we have a very easy time profiting from the manipulation – so you think we shouldn't complain and just take the money, but it's WRONG!!! It's wrong and it's hurting our country, it's depriving our citizens of money they could be spending elsewhere and it's damaging our competitiveness.  IT NEEDS TO STOP!!!

But it won't stop.  Now there are 314M barrels worth of FAKE orders for August delivery and I can tell you right now that MORE than 90% of those barrels will never be delivered.  For one thing, Cushing, OK (where the contracts deliver to) can only hold 50M barrels total – so the whole idea of over 300M barrels being delivered there in a single month is ridiculous.  For another thing – THEY ARE FAKE!!!  These "orders" are nothing more than a blatant attempt to create a false demand for crude oil in the US in order to drive up prices

While the difference between $80 oil (a price even XOM's CEO says is unrealistically high) and $106 oil is only $0.62 per 42-gallon barrel, your gas tank, for example holds about 15 of those gallons, so that's $9.30 that is being stolen from you every time you fill up the tank.  But, of course, the shippers and the refiners and the friendly guys at your local gas station all need their mark-ups so, by the time you fill up your tank – it's more like $20 per tank you end up paying due to price manipulation.

Filling up once a week means you are spending an extra $1,040 per year on gas alone and another $1,000 a year to heat your home or as pass-through costs from shippers and airlines and whatever products you use that use oil (most of them) in their process.  If you are married, call it $3,000 a year you are being ripped off and, if you have kids, add another $1,000.  Now do you care?  

Should America care that it's costing us close to $800Bn a year (5% of our GDP) to pay for this scam?  Congress cares – they care so much that they accepted $871M in lobbying money from the Oil and Coal Industries in 2012 to kill Obama's energy bill and THAT is how they are able to screw each and every American Citizen out of $1,000 per year.

HALF of our national trade deficit is oil, HALF of all the lobbyists in Washington are energy lobbyists.  Almost ALL of our $1Tn annual military budget is there to protect the oil industry, that's another $3,000 per citizen spent to protect that $4,000 per family they are stealing from us!  

With over $1M being spent in campaign donations and lobbying money on each and every Congressperson, what power do we have to change things?  There was a poll yesterday showing that only 7% of our citizens have confidence in Congress and I pointed out that 16% of the population is functionally illiterate (IQ below 85 – you can check your score here), which means that any broad-based poll will get a completely random answer from 16% of the people it surveys – that is the explanation for the 7% that "approve" of Congress – they simply didn't understand the question!  

Confidence in Congress since 1973NONETHELESS – in a typical election year, 95% of the incumbents get re-elected.  The same random 8% of the people believe Congress is "honest and ethical."  So keep them if you want to but, even as I'm writing this, oil is flying back over $107 into the 9am NYMEX open to pump up the prices as they prepare to cancel those last few orders – to insure a "draw" in oil supplies over the July 4th weekend that will then justify rasing your gas prices another 10% this summer due to "demand".

Whatever you do, don't write to your Congressmen – just follow the sage advice of Republican Governor (Texas, of course) Clayton Williams, regarding a similar situation: "If it's inevitable, just relax and enjoy it."  


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  1. Oil Lines

    R3 – 107.94
    R2 – 107.16
    R1 – 106.65
    PP – 105.88
    S1 – 105.37
    S2 – 104.60
    S3 – 104.10


  2. Phil – I posted the Big Chart earlier on yesterday's page.


  3. Good morning!

    New oil (/CLQ4) just hit $106.50 and I like that line for a short but keep in mind this is the usual 9am pump job, so we could go higher for now.  


  4. Big Chart/StJ – No reason not to post it again, thanks.  We finally have NYSE 11,000 – really we can't be bearish as long as that index is over the line. 

    We'll see the Dow back over 17,000 to confirm now but if the RUT's 50 dma bounces off the 200 dma – that's a super-bullish sign going forward.  

    /YM 16,860 (over 16,850 is bullish), /ES (1,953.50), /NQ 3,793 (needs to get 3,800 back) and /TF 1,181.50 and the other indexes over their lines forced me out of the RUT shorts and I flipped to oil for now, though I still like /TF short below 1,180 and /ES below 1,950. 

    Dollar 80.52 SHOULD be putting downward pressure on us.  /NKD very happy with Dollar strength, now 15,500 and getting tempting for a short BUT – with the NYSE over 11,000 – no shorts are a good idea, really.  


  5. Good Morning!


  6. We've been watching this one for a while, no way they will get the $2Bn they are looking for:

    (Reuters) – Atlantic City's troubled Revel Casino Hotel on Thursday filed its second bankruptcy in just over a year and said it is hunting for a buyer.

    The casino, which had gone through Chapter 11 bankruptcy in March 2013, warned employees on Thursday that it would lay them all off beginning on Aug. 18 if it could not find a buyer, according to a letter sent to staff, a copy of which was obtained by Reuters.It is the latest bit of bad news for the New Jersey seaside city, which has lost gambling customers as venues in nearby states expand and as the city has had to pay out millions to casino that successfully appealed property taxes as their values slumped.

    Christie had provided a $261 million tax package to help build Revel after Morgan Stanley, which had begun building the casino, pulled out of the project two years ago and took a $932 million loss.

    Casino revenue from Atlantic City has roughly halved since 2007, while total U.S. casino revenue in 2012 was still shy of a 10-year peak of $37.5 billion in 2007, according to the American Gaming Association.

    Sadly, the hotel is gorgeous and has nice clubs and good restaurants – such a shame…


  7. phil i saw the lousy news you posted this morning for coh .. what are your thoughts on a bullish setup for them, or might it be too early?


  8. probably get a good deal on staying at the Revel right now. 


  9. Revel / Phil – Hard to believe Christie sunk $260M in that project and would not spend a dime for the tunnel that is needed. But I guess if they had built the tunnel he could not have blocked the bridge to punish his political opponent. The more we know about that guy, the less likable he becomes… Not a good warden of our tax dollars.


  10. Don't forget, guys, we're into the end of Q2 next week so we can expect stops to be pulled out to hold these record highs in time for brochures to be printed.  

    Then, after we close the month, it's the holiday weekend so CASH!!! is nice between now and July 7th – have a great vacation – see you later….  cheeky

    • S&P +0.19%.
    • 10-yr -0.16%.
    • Euro -0.25% vs. dollar.
    • Crude +0.39% to $106.46.
    • Gold -0.02% to $1,313.90.

    After 6 Years Of Unprecedented Central Planning, The Economy Is More Fragile Than Ever

     It’s a New American Dream and it’s only for the Super Rich (MarketWatch)

    The Capitalist’s Dilemma (Harvard Business Review)

    Ukraine Truce Lasts "Several Seconds" Before Latest Fighting Involving "4000 Troops, Tanks, APC" Breaks Out

    US "Ready To Act" As Russia Looks To Ban US Consultants & Block EU Gas Transit

    • Euronext shares started trading at €19.40 this morning, 3% below its IPO price. Concerns of the exchange's potential growth also caused stock trading volume to remain low.
    • As reported yesterday, parent company Intercontinental Exchange (ICE) priced the stock at €20, and had sold all 42M shares in the spinoff company.
    • Heavy competition has caused the market operator's revenue to decline in 2012 and 2013, although Euronext says it plans to return to revenue growth over the next three years.

    Currency Probe Widens as U.S. Said to Target MarkupsU.S. prosecutors are broadening their investigation of the foreign-exchange industry as they question salespeople at the world’s biggest banks on their practices, according to two people with knowledge of the matter. The Department of Justice has been asking bankers and clients how much sales teams charge customers to exchange currency, the people said, asking not to be identified because the interviews are private. The move is the first indication prosecutors are probing sales practices.

    • San Francisco's office market continues to lure investors, the latest being JPMorgan's (JPM) asset-management unit with the purchase of 22 Fourth Street, near Union Square. The package includes offices, a hotel, and a development site, reports Bloomberg.
    • The buildings are known as Pacific Place and include 202K square feet of offices fully rented to Intuit's DemandForce unit, and the 198-room Hotel Palomar, along with 200 feet of retail frontage.
    • "We expect Schlumberger's (SLB) upcoming analyst day (June 24-25) to be a catalyst," says Jefferies analyst Brad Handler, reiterating his Buy rating and $119 price target.
    • "We suspect the company to offer confidence in non-NAM growth drivers, greater visibility on efficiency initiatives and some cash return commitments. If progress in “converting” the U.S. to a 'smarter' development approach may feel limited, there are at least signs of E&Ps considering it and anyway the U.S. offers some upside as well."
    • Among the negative items is the Hercules 260 being stacked in Gabon and the termination of the drilling contract for the Hercules 267 with Angola.
    • Fleet status report
    • SEC Form 8-K
    • Iberia Capital throws in the towel on its Outperform rating, and Cowan cuts its price target by $0.50 to $6.50.
    • HERO -7% premarket

    Gold Hits $1300, Silver Surges To 3-Month Highs As China Rehypothecation Ponzi Unwinds

    EU STEEL MARKET PRICES UNDER NEGATIVE PRESSURE IN JUNE – MEPS

    • With the growing demand of chocolate across Asia, and new processing facilities in India and China, cocoa prices have shot through the roof. In the last five years, demand for the beans rose in Asia by 29%, although European demand fell by 1% for the same period.
    • ICE September cocoa rose 3.2% to $3,128 a tonne yesterday, its highest level since 2011. The price on cocoa beans has soared by over 40% over the past year, with cocoa butter rising more than 70%.
    • ETFs: NIBCHOC

    Caterpillar(CAT) Asia Sales Crater By 30% – Company Reports Weakest Stretch Of Global Demand Since Lehman Collapse

    • Goldman Sachs upgrades AutoNation (AN) to a Buy rating.
    • The investment firm thinks the company stand to benefit more than peers if U.S. auto sales forecasts are revised higher.
    • Goldman lifts its price target on the stock to $65 from $56 and gives it a bit of a M&A premium.
    • CarMax (KMX) reports total vehicles sales rose 9.8% in FQ1.
    • Used vehicle sales +13.3% to $3.06B on prices on average 3.2% higher.
    • New vehicle sales +33.1% to $69.8M on prices on average 0.1% lower.
    • The company's gross profit rate fell 10 bps to 13.4%.
    • KMX +10.3% premarket
    • Guidance from Darden Restaurants (DRI) is conspicuously missing from the company's FQ4 earnings press release.
    • Management says the "significant adjustments" related to the sale of Red Lobster and the outlook for FY15 will be discussed during the firm's earnings call this morning,
    • Darden Restaurants (DRI) falls short of analysts estimates with its FQ4 report as weak traffic trends persists.
    • Same-restaurant growth: Longhorn Steakhouse +2.4%, Specialty Restaurant Group +2.0%, Olive Garden -3.5%, Red Lobster -5.6%.
    • All three restaurant concepts showed higher pricing during the quarter.
    • Total restaurant labor costs +2.6% to $525.6M.
    • DRI -3.1% premarket
    • Darden earnings call webcast
    • Carl Icahn sees massive synergies if a buyer steps up for Family Dollar (FDO) with the discounter sector quite crowded.
    • The quick analyst take on Icahn's full-court press for a sale is that a buyout by Dollar General (DG) or Wal-Mart (WMT) is unlikely.
    • A bid for Family Dollar from a consortium of P-E firms is viewed as a more likely scenario. In general, the go-private route provides an easier path to brutal cost-slashing.
    • Icahn letter to Family Dollar
    • FDO +2.1% premarket
    • Shares of Coach (COH) are still under pressure as investors weigh the company's plan to transition into a lifestyle apparel seller.
    • Analysts see a hit to the brand as outlet sales and promotions become a bigger part of the equation.
    • Execution with new men's and women's lines needs to be spot-on to turn Coach into a turnaround story, according to retail insiders.
    • COH -1.2% premarket after a 8.9% swoon yesterday.

    Coach(COH) closing 70 stores as sales suffer

    Your genes affect your betting behavior (Berkeley News Center)

    All-You-Can-Eat Sushi Restaurants Should Not Exist. Why Do They? (Worthwhile Canadian Initiative)

    This kicks ass (note the ratio on-line – keep that in mind when the MSM hypes on-line spending numbers):

    Click to watch the data in real time.

    Source: Retale


  11. COH/Toe – Let the downgrade police have at them and, on the whole, they tried some new stuff and it didn't work so a long retrenchment is in the cards, I think.   They thought they could gain a broader appeal but they miscalculated how damaged the top 10-1% is – they just don't have the kind of money the top 1% does so there simply are too many COH stores now for the 1M women in the US who can actually afford to shop there.  

    Revel/Rustle – I tried to stay there last month and they didn't have a single room available.  The problem is they simply can't make as much off the casino floor ($1M per day) as they planned.  The execution of the rest of the place is spectacular but the high-end gamblers just aren't there and I think the hotel is so nice, young and hip that they intimidate the Granny crowd away from playing the slots.  

    Christie/StJ – He puts money into things that enrich him and his friends.  Actually, that money was looted from the tunnel fund (the one we spent 10 years building and he has now squandered).  

    Interesting open, we took a quick dip on the bell but quickly stopped.  

    I'm hoping for one more blow-off sell on oil today so I'm sticking with /CLQ4 short at $106.50 but a dangerous play on a Friday!  


  12. I can't believe the Audi news didn't hurt TSLA. Why does everyone take it for granted that TSLA will dominate EV sales when they will have other competition by then?


  13. COH comments:

    COH/Jophil – I think they missed the product mix and the China luxury market topped out hard and fast.  I wouldn't jump in unless they get much cheaper.

    So it took the analysts 2 months to see the same thing we saw back in April.  

    Getting a nice dip on the RUT at least, back below 1,177.50 and we take those $250 gains when we get them so quick - GREED KILLS!!!  

    TSLA/Jabob – To some extent it's proof of concept.  If electric cars become the norm then TSLA moves from a niche player in the electric market to part of the mainstream 16M car US market, where even a 1% market share would be 160,000 cars a year.  What holds TSLA back at the moment?  Mostly the fact that people are comfortable with gas stations.  If charging stations become the norm, then TSLA becomes a normal car.  That's always been the dream – they could never have succeeded without competition.  Still, they are already priced at $29Bn, which is 1/2 of GM or F and that, in itself, is completely ridiculous.  


  14. Is TOS having problems?  I show SPY down on one area of my input, and up on the other…almost a 90c disparity  b'w the two sides of my screen…..


  15. No problems with TOS here. Has your computer been rebooted recently?


  16. TSLA/Phil

    As ridiculous as the valuation is, there is always an analyst (MS 320) who will put a more ridiculous valuation on them.  And there are no strings attached to that PT at all because large financial institutions are very ethical.



  17. Pharm, I think its the spy dividend


  18. TSLA – someone remind me.. how long does it take to recharge your TSLA with a supercharger station?


  19. Of the 13 fatalities repeatedly cited as indictments of GM's badly designed, self stalling cars, nine of them also involved alcohol, drugs, or lack of seatbelt use. Aaron Robertson Car and Driver 

    and one possible seizure. The cars can break at least one time with boost no engine, without boost more effort, and steering power goes from 3.3 to 8 lbs. max with to 15.1 to 29.2 max without. The computer  algorithms determine airbag deployment with or without the ignition on and seat belted is a major factor to not deploy.

    They still ignored a bad switch for over a decade but drivers had a lot of blame.


  20. 300 Advisors – isn't this just about what Kennedy did in Viet Nam? Then, when some of the advisors were killed, he had to send some combat troops to protect the advisors.  A couple of ratchet escalations later we'd lost 58,000 men…


  21. Between the dip today and yesterday, this has been the most NFLX has been down since late April.  It only had 4 minor down days in May.  About time.


  22. scott 20 minutes gets 40% charged 80% about 1an hour.


  23. Pharmboy/TOS – me too


  24. TOS/Pharm – Mine's OK and I have 3 different sessions running. 

    Good point by Eric, sometimes it doesn't update the feed if it hasn't been rebooted. 

    TSLA/Rustle – Of course, that's why I gave up betting against them (until they get super-silly again or premiums come back). 

    Quick .15 on oil and now back to $106.50 – just a nickels and dimes day it seems so far:

    TSLA/Scott – I think it's 20 mins for 1/2 charge, 40 for full.  Way back in 1999, I was consulting on an electric car project and I said at the time that the whole thing would not catch on without swappable batteries.  TSLA demo'd something like it but we need an industry standard design and a system (and this is the hard part), where people can just pull up to gas stations, give them $10 and get a charged battery in 5 mins or less.  

    The $10 would pay for the lack of gas sales and make it worth allocating space for electric cars at existing fuel stops and the batteries would be paid for as part of the overall cost of the cars people buy – they just have to be trained not to think of it as "their" battery, the same way we don't think of the gas in the tank as "our gas".  

    Still, the manufacturers would have to supply twice as many batteries as they sell (for refills) and there was no way to wrap that up economically 10 years ago and there's really no way today – so far.  One more generation of improvements and we'll have double the power coming from 1/2 the weight at 1/2 the cost ($20K per car ish) and THEN this thing will really work.

    To some extent, Musk sees that but his time-frame is completely unrealistic.

    GM/Shadow – How about the other 290 deaths?  I guess if GM puts as many lawyers and private detectives on those 290 deaths as they have on the other 13, they'll find "evidence" of all sorts of contributory negligence there too!  

    Ms. Chansuthus had been at a party at her boyfriend’s house and had been drinking, both her brother and Mr. Gritton said. The accident report said that her blood alcohol level was 0.19 — more than twice the legal limit. Nonetheless, the company settled the case.

    “Air bags are supposed to deploy whether people have been drinking or not,” Mr. Gritton said. He added: “I don’t bring meritless lawsuits.”

    The Center for Auto Safety’s letter said that the 303 victims were in the front seat, where air bags are situated, and had died in nonrear-impact crashes of Cobalts and Ions, in which the air bags did not deploy. That is about 26 percent of a total 1,148 fatalities — including those of back-seat occupants — that involved the same models.

    Advisors/Scott – That's called "mission creep" – it always starts with the best intentions but then someone kills one of the Advisors and we get outraged and send in troops and then someone shoots at our troops and we decide we need more troops and then some general says he can't protect 2,000 men without a base and then we build a base for 5,000 men and then that base gets attacked and the general says that having only one base makes us a huge target so we build 3 more bases but then we have to ship in supplies to all those bases and our supply trucks get attacked so we authorize another 10,000 troops to protect the supply lines but they need somewhere to sleep so 2 more bases…  That's why the "pacifists" freak out about sending ANY troops in – they have a sense of history. 

    NFLX/Rustle – Too little too late for our shorts. 


  25. TOS says SPY is up 27c on the dash, in my position statement is says it is down 58c.  oh well…not doing anything anyway.


  26. Pharm – the 95 cent difference is nearly equal to the quarterly dividend that went ex today. The dash is pricing after the ex-div, while the position statement is comparing to the yesterday's closing price.


  27. Daily Show had very funny observation on Benghazi/Hillary coverage:


  28. 1,180 again but momentum is against the shorts for the moment.  Watch /YM at 16,900.  /ES 1,955, /NQ 3,794.  

    We're completely ignoring ORCL's report that shows no indication whatsoever of improving business climate.  


  29. Phil deaths

    Only reporting what I read. My opinion for a very long time is GM cars and trucks hurt or kill way too many people. Suburban, the kid hauler rolls too easy and way too many in the back set suffer, they and Pick-ups hit from the side, and not to let Ford off easy how many police were burnt by their most popular cruiser exploding in flames. when hit from behind. Chances of survival in those big SUVs and pickups is below a small car but the buyers won't believe that. GM is avoiding the airbag problem with an ignition smoke screen. I think airbags would BK GM.


  30. here's a revelation — dick cheney is a complete pos!


  31. Nflx ? Double top?

    also, time to roll fas again?


  32. Statistically the bigger & heavier the car or truck, he better chance of survival & less injuries. Our insurance rates are predicated on these stats & consumer reports have reported the same after crash tests. The smaller & light weight the vehicle, the more deaths. I just read that 3 out of 10 deaths are truck related, meaning your chances against an 18 wheeler are not good regardless of vehicle involved. And not buckling the seatbelts is also another statistical variant. No one ever gets in or rides in my vehicle without buckling up-its just insurance.


  33. UNP/pwright – lust leaving it be for now.. let the premium evaporate. Stop is a close below 98.69


  34. Phil

    I must be truthful about 94 Dodge Pick ups, have no idea when it was modified or not. It was know before the new design release that the driver's airbag brakes necks and it broke mine. Insurance companies are responsible for looking the other way and then fight every claim. The bag in my old truck will never deploy again, Dodge won't sell it or the control igniter, for reason, airbag deployment is controlled by the manufacturer, only mandate is to have one. All about profit first, safety way below. Easy to see who the government side with.


  35. Anybody else take the IQ test?  145 for me.  Fun little test.  Doesn't seem to make me any better of an investor though :( .


  36. /TF
    Up early – nice little 4K run this morning. Thanks Phil.


  37. Damn, lost my web connection.  I'll head to SBUX if it's not back soon. 

    138 for me, JPH – thats about my usual range.  I have never considered myself smart because my father was in an entirely different league than me.  I'm the dumb jock from that side of the family!

    You're welcome Wombat, very nice!


  38. On the hour

    12:00 PM ET

    • Dow +0.24%.
    • 10-yr -0.02%.
    • Euro -0.17% vs. dollar.
    • Crude +0.45% to $106.53.
    • Gold +0.11% to $1,315.60.


  39. BlackBerry pops; Citron ups PT to $20

    11:21 AM ET · BBRY

    • Citron Research, which set a $15 target for BlackBerry (BBRY +4.3%) in January, has hiked its PT to $20.
    • In a new report (.pdf), Citron gushes (somewhat ironically, given its reputation for throwing cold water on hyped tech trends) over BlackBerry’s potential to provide software and services to help enable the proverbial Internet of Things (IoT).
    • Citron notes BlackBerry’s Project Ion aims to provide an analytics infrastructure for businesses trying to leverage the data produced by millions of embedded devices, and that its QNX OS already makes it a player in the embedded device market. It also sees BlackBerry’s security reputation helping its cause.
    • The firm calls John Chen “one of the strongest and most credible leaders on Wall Street,” and thinks a tech giant could be interested in making a bid.
    • Shares now +14% since yesterday’s FQ1 beat.
    • Yesterday’s coverage


  40. Spectrum talk lifts Dish Network

    11:11 AM ET · DISH

    • Dish Network (DISH +3.5%) trades higher on reports indicating Verizon Wireless has interest in buying the company’s spectrum.
    • Analysts think a sale for the spectrum could bring in billions.
    • Dish’s spectrum assets are believed to be complimentary to what Verizon already owns.


  41. Oracle near $40 as investors fret over growth; acquisition announced

    11:00 AM ET · ORCL

    • The license growth worries that plagued Oracle (ORCL -5.7%) much of last year are back with a vengeance following yesterday’s FQ4 miss, in spite of the in-line guidance that followed it.
    • Citi has cut shares to Neutral, arguing SaaS (cloud app) strength isn’t reflected in earnings. Before the downgrade, the firm noted estimated total license revenue of $4.09B missed the firm’s $4.3B estimate.
    • But Oracle also has its defenders. BMO (Outperform) asserts Oracle’s cloud transition efforts are still going well, and that “new product releases across the board should be a tailwind to growth.”
    • The firm attributes the FQ4 miss to an apparent “thousand cuts” that include deal slippage, Asia-Pac weakness (an ongoing issue), a shift from up-front license payments to cloud subscriptions, and potential order delays ahead of Oracle’s 12c database launch (previous).
    • Separately, Oracle has announced it’s buying LiveLOOK, a developer of co-browsing/screen sharing tech for Web customer support apps. Terms are undisclosed.
    • Oracle, which bought cloud customer support firm RightNow in 2011, plans to integrate LiveLOOK’s offerings with its Service Cloud platform. Rival LivePerson (LPSN -0.9%) recently announced a deal to buy co-browsing tech developer Synchronite.
    • Prior coverage. CC transcript.


  42. Homebuilders hit by glum Owens Corning outlook

    10:38 AM ET · ITB

    • The averages are nudging higher, but not the homebuilder names after Owens Corning cuts 2014 guidance on continued weakness in its roofing business.
    • Soft action in Q1 continued through April and May, says the company, which now sees H1 roofing volumes as much as 20% lower than 2013. Owens still expects H2 to be better, but is less confident of that forecast today than it was a few months ago.
    • ETFs: ITB -1.3%, XHB -1.2%
    • Toll Bros. (TOL -1.6%), TriPointe Homes (TPH -1.3%), Lennar (LEN -1.6%), Ryland (RYL -1.8%), Hovnanian (HOV -0.9%), PulteGroup (PHM -1.2%), D.R. Horton (DHI -0.8%), Standard Pacific (SPF -1.8%)


  43. Longs and short to clash on Lands’ End

    10:11 AM ET · LE

    • Insider buying at Land’s End (LE -0.4%) has picked up this week even with shares trading near their post-spinoff highs.
    • SA Pro author Bishop Research thinks the retailer has enormous sales potential through new growth channels and notes valuation is reasonable.
    • A market mismatch exists due to the excessive short position in Lands’ End inherited from Sears doubters and forced index fund selling. Shares could rip 72% over the next three years, says Bishop.
    • SEC Form 4s


  44. Canada inflation fastest in over two years

    10:11 AM ET · FXC

    • The loonie (FXC) is higher by 0.5% and buying $0.9290 after Canada’s all-items CPI rose 2.3% Y/Y in May vs. expectations for a 2% gain. The core rate of 1.7% was faster than estimates for 1.5%.
    • The print is likely to boost pressure on the Bank of Canada to alter an inflation outlook currently worried more about downside risks. On the other hand, the bank and its Governor Stephen Poloz could – as the Fed seemingly has done – brush the figure off as noise.
    • ETFs: EWC, CNDA, EWCS, FCAN, QCAN


  45. Citi calls Rackspace “a good fit” for CenturyLink

    10:10 AM ET · RAX

    • Acquiring Rackspace (RAX +1%) would double CenturyLink’s (CTL – unchanged) data services revenue, boost top-line growth, increase “customer stickiness,” and “modestly [raise] leverage,” writes Citi’s David Phipps, making the case for a deal.
    • At the same time, Phipps estimates a deal for Rackspace ($5.3B current market cap) would require ~$6B in financing, which in turn would lead to a credit downgrade for CenturyLink.
    • CenturyLink spent $2.5B in 2011 to buy Web hosting and cloud infrastructure (IaaS) firm Savvis. But it also took a $1.1B charge last fall for its data hosting unit. The company has since bought another IaaS firm (Tier 3), and begun moving its managed data services to its cloud.
    • Rackspace, a major Web host and the top provider of IaaS services based on the OpenStack platform, has reportedly hired Morgan Stanley to evaluate “inbound strategic proposals” and other options.
    • Both Rackspace and CenturyLink are facing intense price competition from market leader Amazon, as well as Microsoft and Google.
    • Previous: CenturyLink counting on data centers, network to challenge Amazon


  46. Kona Grill prices stock offering

    09:30 AM ET · KONA

    • Kona Grill (KONA) prices an offering of 2.3M shares at $18.50.
    • The company plans to use the funds for new unit expansion among other purposes.


  47. Hi Phil – I'd appreciate your advice for rolling a position. I have 15 SLV Jan'15 14c on which I've worked the net basis down to $4.90 by writing monthly (and sometimes weekly) calls against part of the position. Currently the only cover I have is 5 short June 19c, which of course exploded due to yesterday's spike. I'd like to learn how to determine what the next move should be when dealing with a spike that could reverse as quickly as it happened, but could also be a breakout to a new trading range.


  48. phil.

    first tks for the lulu..picked up some…

    i have rolled some way back nuan to the following position to break even from 20-25 bcs……with icahn looking for a takeout thought it would make sense to roll the sht 18 to the jan16 20's…any thought on improving the pos…………..tks…….

    nuan jan5 15 call @ 2.15

    sht jan5 18 @ 1.10

    sht jan5 18 put @ 2.36


  49. IQ – problem is, your usual test is designed to test the mid-range accurately. For the smart folks here, it won't fit so well. That's why Mensa uses those special tests for people out on the tail, and besides that, gives you a percentile rather than an IQ number. So take that '138' with a few grains of salt, Phil.


  50. snow IQ

    I took that test 136. In college tests and measurements class I tested 160 2 ways. I wonder if age, injury, or both effect the drop or was this a funky test where everyone on this site tests close to the same. 


  51. UCO…..buying a few Jul $40 Calls.  Oil just looks like it wants to go higher….

    From Chess


  52. private

    Size matters especially when up against smaller. My point concerns injuries in the older frame up before crush zones. Second injuries not deaths to rear passengers especially the way to common rollover, the roof fails from weight. The reason electronic anti-skid was developed was for this exact reason. Lower centered cars rarely roll over and if not ejected usually rollovers are not fatalities.

    Seat belts are why I am alive. 4 horrendous wrecks, none my fault, or avoidable, all belted. 2 by drunks, 2 by inattention, admitted I am extremely unlucky but survived one plane crash and missed the flight overslept, to San Diego that crashed into houses 19707?? Everyone died. So lucky also. Belts are great, crush zones great, airbags? they aren't in race cars!! I want a five way harness and no bags. 


  53. SLV/Jersey – Well, with SLV now at $20.08, your Jan $14s are $6 in the money and the short June $19s are $1.10, so no premium left there.   It's good that you only sold 5 and you have gains to lock in, so why not just roll them to 7 July $19.50s at .80 ($560), which is about the same price and then you are half covered and $5.50 in the money to the short callers.  That leaves you flexible to sell more short calls if it turns down and still able to 2x roll if it goes higher.


  54. phil – i think the site should include some more biographical bits about yourself .. all joking aside you're a pretty compelling guy. 

    i am curious what led you to start trading options/ futures in the first place?  how did you become a guru?


  55. /CLQ4……….It seems that is not going down, all the contray, keep my shorts during weend, opinions?


  56. Phil with oil about to hit 107 again I know you said to leave it alone for now, but when do you think will be a good time to short this? With July 4th coming next Friday, when does the effect of that become a moot point? Is it only after July 4th or is it some time just before? If you have already told us this, I apologize for missing it, but I am very curious when the pressure of the holiday driving weekend lets up.


  57. Phil,  Craig question can also include  /RBQ4 which in some moment must have a good short point  coming from 2.90  in  13 sessions.


  58. Report: Netflix in talks with DT for German partnership • 1:54 PM

    Germany's Magazine Manager reports Netflix (NFLX -0.3%) is in advanced talks with Deutsche Telekom (DTEGY) about a marketing partnership ahead of the streaming giant's planned German launch

    DT, by far Germany's biggest carrier, is said to be comfortable with a tie-up even though it indirectly competes with Netflix through its Entertain IPTV service. Netflix is also reportedly talking with other local carriers.

    Netflix, already operating in several European countries, is also looking to enter France and 4 other EU markets this year. The company was reported in April to be talking with Vodafone(operates in many European markets) about a free streaming promotion.

    Netflix's relationships with U.S. service providers have often been thornier.


  59. Sorry, just getting reconnected using IPad as hot-spot.  Slow but functional.  

    Airbags/Shadow – They still may, the civil suits will be rolling in next.  

    Cheney/Toe – Shocking!  

    FAS/JMD – We sold July calls so still waiting for the moment.

    NUAN/Mill – I'd roll the short Jan $18 puts (now $1.40) to the short 2016 $20 puts at $3.25 if your premise is a buy-out.  All the short puts would cancel out the same, so why not get more money?   Otherwise, you  have the $15/18 bull call spread and the logic is fine as you'll make that too but all these adjustments will bite you in the ass if, as with many Icahn deals, nothing comes of it. 

    IQ/Snow – As I said, that's my usual range (low end) so I figure it's a fairly accurate test.  Officially I'm a bit higher but I never put much stock in those tests because I know a lot of very smart people and many of them are idiots.  

    Same/Shadow – Or maybe this type of site attracts smart people?  

    USO/Pharm – Yep, it looks like we got a nice pop  while my web was down.  $106.90 now on /CLQ4.  Now that we're heading into the holiday – it's madness to try short-term short positions on oil or gasoline.  

    Compelling/Toe – I've told that story before but the short version is my Grandpa Max was a trader and my job when I visited him in England from 7+ was to go through the paper every Sunday and circle the stocks that had made new highs and new lows and then we would research them to see if there was an investing premise developing.  As with my Father, Grandpa never once in my life (that I can remember) spoke to me as a child and he would take me with him to visit companies he was thinking of investing in (usually in London) and we'd sit down with the CEO or CFO or VP – whoever he could get, and he would ask them about their business and their plans.  

    He let me pick my own stocks and bought some for me.  Cadbury was the first stock I every bought.  After college (1985) I went into computers because they were hot but I still visited my Grandpa at least once a quarter and we still played the market.  So, by the time I was 25 (1988), I had 18 years experience as a trader but I was more interested in computers so I became a CNE and ended up becoming Director of Network Sales for Intelligent Electronics.  My primary talent there was that, because of my business knowledge, I was able to walk through a company and very quickly give them an accurate estimate of their network needs – something our competitors insisted would take a week of study just to give a quote.  

    Needless to say, that was a huge advantage and I did well but I knew I'd never get rich working for others so I looked to start a company, ended up starting a real estate data firm which I sold in 2004 and semi-retired.  During that time, I worked with my Dad's consulting firm and I was the business link for his Systems Consulting and eventually we began doing M&A consulting too (since it was hot at the time and it fit in with my skill set).

    I began playing with options in college, back when you had to essentially search for another party to take your bet one at a time.  My father began designing systems for IBanks (early trade-bots) and I used to go in and consult so I met everyone who there was to meet on Wall Street back in the 90s but I lost interest in the markets because they were too stupidly priced in the late 90s and, at the same time, I was funding my real estate data business. 

    Once I retired, I began trading again but my Grandfather was dead so everyone in my family (and many friends) would come to me for trading advice.  I got sick of answering people by Email, so I started a blog on MySpace and then moved to WordPress but then there were 4,000 people following me and asking me questions every day – so I started charging (which quickly got rid of 90% of the people)!  

    That's how PSW got started.  After that, it's just been 10,000 hours of practice being a "guru".  

    Oil/Advill – I think something could blow up or we just roll right into the July 4th (a week from Friday) rally – that's why I said TIGHT STOPS!  

    Oil/Craigs – With what I just said to Advill, I will ad that yes, I'm still shorting at each .50 line with TIGHT STOPS over but because it's FUN for me – not because I  have any great conviction.  

    Gasoline/Advill – That's just way too crazy into the holidays.  If it went back to $3.05, I'd go long but so hard to call a direction at $3.11.  It's simply a terrible time of year to make these bets.  


  60. phil thanks so much for sharing – what a great story!  you should write a book so i can hear the long version :)


  61. Phil   thank you fot the comment, great typing for a Ipad!….LOL


  62. Actually, the IPad is doing a very nice job now that I killed a couple of data hogs.  Running all 3 of my main screens with 20+ tabs and TOS with little trouble.  I'd hate to see my usage bill on the data plan though!  

    Book/Toe – I think there are 3 or 4 books worth of material on this site already – just need an editor to go through it all at some point.  


  63. Phil/Cadbury – Fascinating – we Quakers have decided that being in business is somehow embarrassing; that the 'helping professions' are much more appropriate, which to my mind is a fairly sanctimonious attitude. If anyone's got a bit of time and the interest this weekend, the latest issue of Western Friend takes this on – and gets into the history of Quaker businesses: http://westernfriend.org/do-quakers-mean-business/


  64. Quakers/Snow – I don't know, you've got that great Oat business and then, of course, there's Nixon!  What's not to be proud of?  Good article, I'll read the rest later.  

    Who was this guy "helping"?


  65. SLV/Phil – Sounds good – thank you very much, have a great weekend!


  66. Phil

    Do you like ORCL on this pullback? The J 16  $35 Ps can be sold for 2.45. 


  67. Study Asserts Startling Numbers of Insider Trading Rogues

    1/4 of all transactions……25%….ugh!


  68. phil……tks

    only adj im making is rolling the sht call out to the 20's……….agree re icahn thought and have a great weekend……….


  69. Kudos to Winston for his amazing PCLN 1200 pin call on TUESDAY!  Winston, got any predictions for next Friday's closing price, I'm all ears? :)


  70. Great chart:

    Good one by Paul Ryan just now on TV.  He's talking to the IRS, who lose 6-month old Emails and he says: "You expect taxpayers to keep records going back 10 year, in case they get audited and you can't keep Emails that are 6 months old?"  

    Source: Bespoke Investment Group

    Why Stock Markets Keep Shrugging Off Crisis After Crisis (WonkBlog)

    With little upside left in euro zone bonds, how much is there in equities? (MoneyBeat)

     3h

    Pump it up: IMF urges ECB to consider more QE

     

     

    Work is "difficult, dirty, dangerous and unpleasant and should be left to robots," says one roboticist.

    350,000-strong "election" in Hong Kong angers Beijing. By http://www.nytimes.com/2014/06/21/wor

     26m

    When the World Cup Is On, Stock Markets Go Quiet – http://www.streeteye.com/t/1XHJ

     

     

    Shiller’s CAPE: Is There a Better Measure? (Street Talk Live)

     

     

    Americans were more optimistic about starting a business in 2013 than in any year since 2001, a survey shows

     

    Life is short. Feed your passions. Follow your dreams. And work like crazy to fulfill them:

     

    Three things Conservatives wrote this week that everyone should read

     10m

    This billionaire is so secretive, his acquisition targets don't even meet him:

     

     

    The open source revolution is coming and it will conquer the 1% – ex CIA spy

     23m

    The $1.5 Trillion Short And Noisy Inflation Trades

     

     

    How Amazon is holding Hachette hostage

     

    55% of consumers around the world say they'll pay more for products from brands that make a positive social impact:

    Walkable cities are richer, smarter — and better for the environment

     50m

    Virginia Governor bucks GOP, will unilaterally expand Medicaid

     44m

    Italy was just defeated by a country with no army. Yep, that sounds about right.

     1h

    Valar morghulis: Here's every on-screen death from Season 4 of "Game of Thrones"

    Megafauna Size Comparison Mk2 by Harry-the-Fox


  71. Phil

    Thanks for your comment earlier this morning. Just doing my part,  very excited to be a member here and part of this community. I've spent my 10000 hours in medicine and still work every day to learn/do more, so since I'm in no position to give trading/investing suggestions I'm happy to share something that I do have experience with. 

    Shadow has been through a lot and even though I'm new here, his type of problem is far from new to me. So, hopefully he and anyone else can benefit from my comments/experience in medicine much like I am from all of the members here with respect to investing. 


  72. Phil/*gag* You forgot Herbert Hoover. Go ahead, rub it in.


  73. Predator X ! 


  74. Hoover/Snow – I did not know that!  And they say you shouldn't factor religion in.  Had we not voted in Nixon because he was from Hoover's clan, that little bit of intolerance would have saved us a World of hurt!  Although, if we held people responsible for the idiots that shared their heritage – we'd have to elect a robot to be President – until one of them screws up, of course…

    You're welcome Jersey, have a good weekend.  

    ORCL/Tx – I was never a big fan of ORCL and, until the middle of last year, that was wise.  Since the, they're up 50% and only finally pulling back so I think they just got ahead of themselves but IBM much more attractive to me than ORCL – unless they get 10% cheaper.  The 50 dma is $41.50 and the 200 dma is $37.50, at $37.50 I'd be into taking a poke but in between them is a rough call. 

    Insider Trading/Pharm – What I find surprising is that people are surprised by this.  It is as it was and as it ever shall be…

    You're welcome Mill, you tooo.  

    $106.57 again. 

    Community/Jeff – That's what I've always set out to do here, build a community of traders from various walks of life where we can get to know each other and share our expertise.  Actually, it says that right in the New Member's Guide:

    Phil's goal is to teach the members to trade, and build up a community of sharp traders capable of taking on the markets. In Phil's vision, we become a high performance team, working together to spot trends, identify opportunities, and avoid, hedge, or avert failures.

    Phil: There’s a lot of hard work involved in trading normal markets and that’s what I want us to have – a world class team of traders who work like a family because we can learn to trust each other and play off each other’s strengths.

    I'm very glad and proud that we are accomplishing what I set out to do 8 years ago!  

    Predator/Wombat – I love that chart, great perspective.  


  75. Internet is finally back – I CAN SEE!!! 


  76. Phil,

    DIS butterfly – what strike price makes sense if I were to start this now? Jan 16 60 Calls and 100/105 puts?


  77. jeffdoc

    I sincerely hope you understand you are the only one to offer any advice on where to go or the sites that start the search. I have actually researched about all the doctors at both JH and TJ. My BP scare sent me of way early. MB22 has another angle to get more help, PSW has been generous but there aren't 2,500 members. Funding has to come first.

    Phil I got myself in the mayo clinic and this will work also. Don't confuse frustration expressed here with demeanor. I went for a long shot and they just don't do remote. In particular I found that 2 doctors are looking for more patients now with my somewhat rare conditions. The head professor is one. I was never expected to live and or survive the surgeries. Even the bone marrow infection. I lucked out finding a doctor wanting to try what others wouldn't. I will never forget the look on his face when he came in my room and said " I can't believe your sitting up!"


  78. MrM/ PCLN pin; LOL. Your faith is misplaced. As for next Friday, I have no friggin' clue.


  79. We're in the last half hour of sling it all on the wall & see how high we can drive it! We need to find some volatile stocks that hit the low at 10:30 so we can sell at 3:45,  or in my case 2:45.


  80. Pharm / ZLCS – haven't heard you mention this one in a while, it's crept up 25% this month, any current opinion?  I did a DD at $1 so in for the long haul.


  81. Phil / closing positions – I was wondering if you could take some time in helping me out with recognizing at what point I should take profits off the table when it comes to the artificial buy/writes (BCS with a short put) we initiate most times. I read the strategy information but not sure how it applies to the buy/writes. For example, I have the Dec 2014 IRBT 30/45 BCS (bought for $3.46, now $6.20) and the Dec 2014 IRBT 30 put (sold for $3.36, now $2.55). Net, I'm up $3.55 in one month, which I'm happy with, but I'm wondering if I should continue to hold on to it or call it enough and put my money somewhere else.

    Reason I'm asking is because I believe this is where I have made the most mistakes in my trading in the past. Not taking profit when there was profit and then panicking out when I had a loss; succumbing to the greed and fear running the markets. I don't want to make the same mistakes again this time around.

    Thanks.


  82. ZLCS – mrm —--  >>>>>   surprise I am not in them, and have not mentioned them since I sold out many eons ago when their lead failed.  They do have the one last hope O'B1…


  83. ARIA…Options at the $7s are moving in July and Aug….and based upon that video about insider trading…..I will continue to accumulate the Aug $7s.


  84. DIS/RKP – I'd sell the July $82.50 puts and calls for about $3 since earnings aren't until Aug so you can just roll the loser into Aug or Sept puts and calls.   On the 2016 side, it's really not important as they are just there to offset the put and call selling.  You can be out of the money with 2016 $70 puts ($4.50) and $95 calls ($4.70) for $9.20 and that means you're collecting 30% of it in the first month – that's a good track to be on!  

    LOL Shadow – that's good.  If this is a place you are venting and you are playing the game nicely with Doctors, I applaud you.  I know it's a tough process – Tina had to quit her job when my Dad got cancer – just to navigate him through all the medical BS – and we live right in NY and were well-covered!  Going it alone is a complete nightmare, for sure. 

    Navigation/Pirate – I'd steer towards cash and let things be over the weekend.

    Buy-Writes/Pfehl – We look at those as being on or off track with little intention of closing them out early unless they go completely crazy to the upside and we fear a reversal – or, of course, if we see something that makes us no longer like them.  With IRBT, the stock is at $37.90 and your goal is $45 but the spread makes every penny above $30 for up to $15 back on your .20 credit.   

    Your $3.55 net is nice but the whole trade only has 6 months left so, getting to $15 – it's SUPPOSED to make $3 per month.  If it flatlines here, you get $7.91 – 100% more than you have now.  If it drops 10% to $34.60, you STILL get $4.60, which is 33% more than you have now so, unless you feel IRBT is more likely to drop 10% than stay flat or go up – why change it?  If, on the other hand, it was up $6 (almost half) with 6 months to go – I'd be inclined to take 1/2 off at least.  Any time you are more than a month ($3) ahead of schedule, you should look to protect the excess gains.  

    Doesn't look like we'll get 17,000 on the Dow today.  Nas just below 4,400, RUT 1,188, NYSE 11,018 and S&P 1,963.  That means they can still be impressive next week with just a little more push to close the Q, though officially the last day of the Q is Monday, the 30th.  

    Have a great weekend everyone!  


  85. PSW
    AAPL Jan16 $80 short puts filling at $7


  86. thanks Pharm

    wife is leaving for Brussels tomorrow – I have the kids for 10 days so I'll apologize in advance for any absolutely stupid comments

    everyone have a great weekend.


  87. EMC/Phil – little drop, can's see what for. channel low for new long entry here?


  88. CZ are is closing the Jun14 25/17.5 worthless a new one is call for Dec14 22.5/17.5 @ 3.45


  89. GWPH….that is a move over a few weeks.  The company so reminds me of DNDN or AMRN or so many others ….I could be very wrong, but I sleep better knowing that one bad piece of data could bring the whole thing down in shambles.


  90. YOu too PHil. Hope you have sunny days! Oil must be dropping??


  91. EMC/Scott – Not a space I'm fond of.  I'd wait for a better entry than this if at all.   

    VIX 10.74!

    Brent was down today but WTIC is up – that makes zero sense….


  92. Phil – It's starting to make sense… Have a great weekend!


  93. CHRW – wow..! are they a government contractor moving "goods" for the pentagon? quite the run.


  94. Got e-mails from both hospitals today. They are looking for particular patients, these are teaching hospital, no much interested in a bulging disc. My surgeon said I am the only one he has ever had willing to take the chance. When I was in recovery I had 2 fantastic nurses at my side. The next day the overnight nurse said he is on too much medication. They shut her down saying nobody in the last 25 years has ever had half that done at once, his vitals are fine, the doctor stressed pain must be controlled. You never forget that kind of thing. They were very over the guy next door, totally uncooperative and constant trouble. Those 2 kept me occupied every spare minute they had with talk about anything. Super nice when you have no visitors, they also got me out and in the back of a truck when the administrator wanted medevac. I was freaking out over an 80 mile helicopter ride cost.


  95. Another issue of luck. The first time when I coded in the operation I was in ICU with nurses looking like has-mat. The woman across the hall just died from the spinal infection and my line blew out, blood everywhere. The nurse dealing with the death knocked the computer over getting to me, she even changed all bedding and gown, and continued with her uniform as is. Hard to believe some are that concerned, it is a job. The emergency people kept me alive and I didn't die when the other cervical patient did, all in the same day.


  96. Re: EMC, ORCL, IBM, and even Cisco - “You are going to see a brutal, brutal consolidation of the IT industry where out of the top five players, only two or three of us will be meaningful in as quick as five years,” – John Chambers, CEO, Cisco.


  97. Looking for some bullish plays – Phil, how about DE – they still have a reasonable PE(10), and yield a div of 2.6%. You can buy the '16 80/90 BCS, and sell the 80 put for net .95 on the $10 spread that's 100% in the money. Of course selling a few callers over the next 18 months should make it more fun as well. Thoughts?


  98. The bulls are running…

    Might be time to redraw these lines Phil! Two days over the 10% line for the NYSE was the last straw I think. And 3 of the other indices now over or close to their 20% lines.


  99. STJ /Lyme  You're in San Diego aren't you?  Have you talked to Dr. Yang at Dr. Yang's Family Care?


  100. Lyme / JPH – Nope, New Jersey… My wife is consulting so many people now, it's not even funny. No one seems to have a grip on that disease.



  101. BTW, if we have members from Spain or England, I feel bad for you guys! OK, not that bad. Go France and USA!


  102. And off to Canada next week… 


  103. I train a woman (I'm a personal trainer too) who is one of the few that works with lyme patients.  You can find her website at dyfc.org.  She operates a small non-profit out here in San Diego and is a truly brilliant woman that is also one of the kindest and nicest people I've ever met.  FYI, she does some stuff that is definitely atypical but I have a lot of faith in her and she cares a lot about her patients.  Give it a shot imo.


  104. Thanks – I'll pass that on to my wife!


  105. Winston/PCLN.

    Your call was Great! I followed you with 1190c/-2 1200/1212.5c (broken wing butterfly). But it was very difficult to close this butterfly (1200c had a lot of premiums, and I think it was dangerous to leave for automatic assignment/exercise, even IB (InteractiveBrokers) doesn't charge for assignment/exercise). So I closed the spread by buying all legs separately.

    How did you close it? as one order? two verticals?


  106. ed3524/PCLN: I did mention that I do not trade butterflies. Of course, I would love to say that I bet the house on selling the $1200 straddle. But I went to my file of 'what might have been' and quietly made another entry. If you made a profit good on you, and by the way what was the net cost of the trade? Of course you were right to close a winner.

    I do not generally trade around options expiration – it takes up too much time watching every tick of the tape. But it is another subject matter to be mastered when I have the time. 

    However, I am recognizing that I do not close winners earlier enough and redeploy the cash (something that Tastytrade discussed in a video recently). Phil talks about finding 'fresh horses' and he is absolutely right. It always pained me to close winners early seeing that there was still premium to be exhausted. But I am getting better and forcing myself to buy back short sales and look for new trades to enter. Both steps should go together.


  107. StJ    ;  C´mon , here in Spain we have a beautiful weather right now!, today is the shortest night in the year  and there are festivals and open air  activities everywhere, plus superb wine, topless in beaches and good food!….apart of scooping a bit in the market what else can you desire?…..jajajaja…enjoy your time.


  108. No worries Advill – I'll be retiring in Spain eventually! I love it there…


  109. StJ / Yep
    Sleep until 10, have some breakfast, go to work for an for or two, go home for lunch, nap, return to work, family time, dinner at 10, drink until 2
    rinse and repeat.


  110. Winston/PCLN

    I bought 1190c/-2 1200c/1212.5c for .10c. Theoretically risk/reward was $250/$1,000 (it was a broken wing butterfly).

    But bid /ask spread of options (and shares) are so wide I couldn't close for $800 (what I thought was reasonable). I waited too long, tried to close one leg at a time,made a couple wrong moves, and ended up with profit of $300. Maybe buying cheap 1200 straddle (one leg at a time) would have chance of bigger profit. The deadline to exercise options is 4:30pm (IB, Inteactive brokers), and after hours PCLN  $1,208

    So if 1200 straddle was bought for $ 1.5 (it was doable), and between 4:00, and 4:30pm the shr sold for $1204 (for example), then 1200c could be exercised.

    But it's all "Coulda, Woulda, Shoullda".

    I like your posts very much (and this was not the first time I followed your idea). You are much better trader than I am. Keep posting!. 


  111. Samsung to launch Android Wear smartwatch at Google I/O
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  112. These Two Guys Built Dropcam To Catch A Dog — And Just Sold It For $555 Million
    http://www.businessinsider.com/dropcams-humble-beginnings-2014-6



  113. Got Fiber? The NSA’s Map Of Global Undersea Fiberoptic Routes
    http://www.zerohedge.com/news/2014-06-20/got-fiber-nsas-map-global-undersea-fiberoptic-routes


  114. 27 Tips for Mastering Anything
    http://www.entrepreneur.com/article/234445



  115. Investors Just Threw A Ton Of Money At Unusually High-Risk Bonds For A Project That Doesn’t Make Money
    http://www.businessinsider.com/florida-train-bonds-in-search-for-yield-2014-6




  116. Doctors Without Borders: Ebola ‘out of control’
    http://hosted.ap.org/dynamic/stories/A/AF_WEST_AFRICA_EBOLA?CTIME 14-06-20-16-22-12&SECTION=HOME&SITE=AP&TEMPLATE?FAULT



  117. Kurdistan defies Baghdad and delivers a million barrels of oil to Israel
    http://qz.com/224352


  118. Want more bang for your Starbucks? We tested 8 money-saving hacks
    http://www.today.com/food/want-more-bang-your-starbucks-we-tested-8-money-saving-1D79828067



  119. Coming To A Protest Near You… A Drone That Blasts Pepper Spray
    http://www.zerohedge.com/news/2014-06-19/coming-protest-near-you-drone-blasts-pepper-spray


  120. 7 Kickstarter Projects That Would Make Killer Gifts for Dad
    http://mashable.com/2014/06/07/dad-approved-kickstarter/


  121. Clever piece of code exposes hidden changes to Supreme Court opinions
    http://gigaom.com/2014/06/12/clever-piece-of-code-exposes-hidden-changes-to-supreme-court-opinions/


  122. Phil

    Veterans were not given authority to go outside the VA maybe a wealthy general paying cash.

    Kids have special spinal centers, athletes including professionals go to the nearest hospital trauma center.

    Spinal orthopedics goes even further thoracic spinal orthopedics pretty much limited to accidents and complications.

    I checked the kick starter gifts. One is not a winner the brew one. There are many alternatives to a dedicated controlled refrigerator. The problem with this is circulation adds air, air is very very bad avoid after the boil, will spoil the beer, add only pure oxygen before yeast to start fermentation then use an air lock to keep everything out. The CO2 given off is heavy so very soon everything else is pushed out the airlock leaving only CO2 in the fermenter. Also can the temp be lowered in stages? No insulation thermal containment!  A good brewer didn't come up with that, rather an idiot. Brewer Dad will be disappointed and forced to be thankful.


  123. Mike Luckovich: Blame game



  124. Diamond blame game

    In 2008 they ran him out of Jackson WY, last year his daughter from nearby Wilson dropped out of senate race, didn't live in WY long enough. What a family!


  125. No way that IQ test is accurate! As much as I'd like to think I have a 158!


  126. Shadow

    For the sake of accuracy, Veterans CAN go outside the VA.  They just have to obtain approval, and this is typically done for patients who need care beyond that delivered at the VA facility they are enrolled in.  It happens very commonly, so a veteran would be able to go to another facility if that was the case. In Baltimore, the VA hospital is associated with the University of Maryland Medical Center (the buildings are attached), so most vets enrolled there would likely receive care at Univ of Maryland Med Ctr if they needed to go outside the VA.  Although they could request to go to Hopkins if they wanted to. 

    I'm not sure what you are trying to say about spinal orthopedics.  But it is definitely not limited to "accidents and complications" as you stated.  All sorts of problems can occur with the thoracic spine.  

    In any trauma situation, patients are taken to the nearest capable trauma center.  There are different levels (1-5) assigned based on the resources at the hospital…it doesn't matter who the patient is. 

    I'm not sure why you think teaching hospitals wouldn't be interested in your case.  The way it sounds to me, you would probably only be considered at a teaching hospital.  Keep in mind, just about every well known major medical center in the nation will have some sort of educational program associated with it.  The big ones (with big names working there) will have big teaching programs.  That's just how it works…and they tend to love tough cases! Challenging cases and research is what they became famous for.