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  1. phil

    VXX/Jash – So it was net $1,250 and now the Oct $38s are 0.95 ($1,900) so still salvageable.  If you want to continue to be long vol, You can assume we won't hit $42 by next Friday, cash the $38s and roll to the Jan $35 ($6)/38 ($5) bull call spread for $1 as those are almost $2 in the money.  The short puts are $3.60 at the moment and the Jan $34 puts are also $3.60 so, if you can roll down $6 (15%) every quarter – it's hard to worry about those, right? 

    • The pro-business policies of the new administration were hoped to unleash a wave of corporate lending, but Federal Reserve data show the growth in such loans dropping to 2.1% from 8.1% last November.
    • "All the turmoil and the inability to move policy through Washington set in,” says Jeff Glenzer from the Association for Financial Professionals.
    • Others, however, say the slowdown may just be a return to the mean – growth in corporate lending has run well head of GDP growth in the years since the financial crisis.
    • Q3 earnings results begin this week, with JPMorgan and Citigroup on Thursday. Analysts have been trimming some earnings estimates – U.S. Bancorp (NYSE:USB) and BB&T (NYSE:BBT) to name two – as bank managements during conference season last month signaled slower-than-hoped loan growth.
    • The Wall Street Journal reports that Apple (NASDAQ:AAPL) has struck a deal with Steven Spielberg to produce new episodes of a classic 1980s sci-fi and horror anthology.
    • The deal involves Apple, Spielberg’s Amblin Television, and Comcast’s (NASDAQ:CMCSA) NBC and pertains to NBC’s show “Amazing Stories.” 
    • Spielberg will likely serve as executive producer for the ten episodes, which reportedly each have a budget of over $5M. 
    • Apple has committed $1B to developing original programming over the next year and has hired top talent including former Sony TV executives Zack Van Amburg and Jamie Erlicht.   
    • Apple has dropped its planned Elvis Presley biopic with the Weinstein Co. as Harvey Weinstein’s removal from his company, due to an increasing number of sexual assault allegations, triggered a clause that let Apple leave the deal.    
    • Previously: 64% of Americans own an Apple product; Supreme Court seeks advice on Apple case (Oct. 10)
    • Sears Canada (OTCPK:SRSCQ) files for court approval to go through a liquidation process after failing to receive any viable bids for its business.
    • The retailer has a hearing set for October 13 with the Ontario Superior Court of Justice on the matter.
    • Shares of Sears Canada trade for pennies on the OTC market. Nasdaq-listed Sears Holdings (NASDAQ:SHLD) is down 4.48% on the day and is off 27% YTD.
    • Catalan President Carles Puigdemont defuses at least a little bit of tension with Madrid, declaring independence, but then stopping the separation process to instead have talks with the Spanish government.
    • Puigdemont and his team remain in danger of arrest for sedition, and Spanish President Mariano Rajoy has previously rejected any talks until secession plans are abandoned.
    • A Rajoy spokesman following Puigdemont's speech: "He has made a deferred declaration of independence … [Puigdemont] has taken his irresponsibility to the absolute extreme by ignoring the laws, citizens."
    • Down earlier in the session, the Spanish ETF (NYSEARCA:EWP) has jumped into the green, now up 1.5%.
    • Deutsche Bank has trimmed price targets on Sprint (S -2.9%) and T-Mobile (TMUS -0.5%), saying the much-discussed merger talks face risks as the coming election year brings a swell of populism.
    • "We remain very bearish on the prospects for deal approval," analyst Matthew Niknam says, trimming the firm's target on Sprint to $7 from $8 (Sprint's down to $7.09 today), and on T-Mobile to $65 from $70 (implying 6.1% upside).
    • A less corporate-friendly mood is taking over, he notes: "The Democrats' Better Deal agenda highlights ongoing corporate consolidation as a threat to U.S. consumers, and proposes sharper scrutiny of potential deals."
    • Also today: Sprint owner SoftBank (OTCPK:SFTBYup 2.8%; T-Mobile parent Deutsche Telekom (OTCQX:DTEGYup 0.8%.
    • Wal-Mart (NYSE:WMT) execs painted a bright picture during the company's presentation today for the investment community.
    • The fresh food business at Sam's Club was highlighted as an area of strength. It was also noted that Sam's e-commerce sales rose 27% during the first half of the year.
    • Look for zero-based budgeting to start in areas of the company and for e-commerce losses to narrow.
    • The company expects capex spending to be ~$11B for FY18 and FY19.
    • Walmart International is expected to open about 255 new stores, including a focus on Mexico and China.
    • In one of the biggest developments, Wal-Mart management said will feature the smart-cart system that allows customers to find cheaper prices if they choose certain checkout and delivery options.
    • Wal-Mart 2017 Investment Community Meeting webcast
    • Previously: Wal-Mart update includes new buybacks, +3% growth forecast (Oct. 10)
    • Previously: Wal-Mart flies to 52-week high, lifts retail peers (Oct. 10)

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Zero Hedge

Things Must Be Serious, Everyone's Lying

Courtesy of ZeroHedge. View original post here.

Authored by Tom Luongo,

European Commission President Jean-Claude Juncker had a moment of clarity once.  He famously said, “When things get serious, you have to lie.”


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Jack Vogel On Quantitative Value & Momentum Investing

By Sure Dividend. Originally published at ValueWalk.

Our most recent podcast interview is with Jack Vogel, the CFO and CIO of Alpha Architect – a quantitative factor-based investing firm that invests client money using empirically-verified strategies like the value effect and the momentum effect. Along with performing financial research and managing client money, his firm also has an excellent suite of to...

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Digital Currencies

Bitcoin Soars $1000 Off The Lows After G-20 Rejects Crypto Crackdown

Courtesy of ZeroHedge. View original post here.

While advertising bans and Mt.Gox Trustee overhangs remain, the FUD of a possible global regulatory crackdown in the G-20 Communique was a major driver of this weekend's weakness... until Les Echos confirms FSB has rejected calls for regulation.

After headlines suggesting a global crackdown on cryptocurrencies spooked the markets on Friday, ...

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Phil's Favorites

Low-carbon computing is needed to avoid a technological collapse


Low-carbon computing is needed to avoid a technological collapse

wk1003mike / shutterstock

Courtesy of Oscar Céspedes, University of Leeds

Human society has come to rely on superior gadgets being produced every year. Each year, new phones or laptops are faster, sleeker and have even more capabilities. However, electronics are rarely recycled, and the carbon footprint of the internet already exceeds that of air travel. The internet also relies on “rare earths” and ...

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Members' Corner

"If you want to fundamentally change society, you first have to break it."


"If you want to fundamentally reshape society, you first have to break it." ~ Chistopher Wylie

[Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

Here are a number of disturbing, overlapping articles discussing an enormous socio-political venture into thought- and election-manipulation that took place leading up to and during the US 2016 presidential election. Key players include: ...

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Insider Scoop

5 Costly Mistakes Drivers Make At The Gas Pump

Courtesy of Benzinga.

Now that oil and gasoline prices have started to creep back up, drivers are looking for any way they can to save a few cents at the pump.

GasBuddy analyst Patrick DeHaan recently compiled a list of the five most common ways people waste money on gasolin... more from Insider

Chart School

Bitcoin Update, demand is present

Courtesy of Read the Ticker.

When a Wyckoff trader looks at a stock chart of price and volume one looks for foot prints of material demand and supply. The current bitcoin chart shows very significant demand prints.

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Sure fundamentals do matter, and so does market timing (entry, stops and exit), here at we believe a combination of Gann Angles, Cycles...

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How your brain is wired to just say 'yes' to opioids

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


How your brain is wired to just say ‘yes’ to opioids

A Philadelphia man, who struggles with opioid addiction, in 2017. AP Photo/Matt Rourke

Courtesy of Paul R. Sanberg, University of South Florida and Samantha Portis, University of South Florida


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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...

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Swing trading portfolio - week of September 11th, 2017

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


This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...

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NewsWare: Watch Today's Webinar!


We have a great guest at today's webinar!

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

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

Just click here at 1 pm est and join in!

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

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Kimble Charting Solutions

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

Courtesy of Chris Kimble.

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


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

If EWZ b...

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All About Trends

Mid-Day Update

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

Click here for the full report.

To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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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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