Archive for 2017

Complaint Alleges SEC Watchdog Retaliated Against Whistleblowers

Courtesy of ZeroHedge. View original post here.

Who blows the whistle on the whistleblowers?

Nobody – if they can help it.

In yet another example of big-government hypocrisy allegedly committed by an office meant to hold other government employees accountable, the Wall Street Journal is reporting that the watchdog for the Securities and Exchange Commission has himself become the subject of complaints by several whistleblowers. At least two employees working for SEC Inspector General Carl Hoecker have filed complaints to a different federal whistleblower-protection agency, alleging that he and his senior staff retaliated against them for calling out misconduct within the inspector general’s office, according to the Wall Street Journal.

The SEC watchdog encourages staff at the top securities regulator to blow the whistle on misconduct and fraud involving SEC employees, from insider trading to expense fraud.

The whistleblowers also reported the allegations to Sen. Chuck Grassley, chairman of the bipartisan Senate Whistleblower Protection Caucus, which focuses on laws and other issues affecting whistleblowers. A Grassley spokesman said he is “looking into the matter, and his office intends to reach out to the whistleblowers in question to see what can and should be done."

Of course, the office has vigorously denied the allegations. Raphael Kozolchyk, a spokesman for the SEC IG, said “a number of the claims contain significant factual inaccuracies, while others are grossly misleading.” He added that the office does “not comment on ongoing personnel matters."

The whistleblower-retaliation allegations stem from complaints made to Hoecker last year by at least three officials in his office. The complaints allege misconduct by two of their fellow employees. The Office of Special Counsel, whose mission is to protect federal whistleblowers, is reportedly investigating the retaliation allegations. The office has the power to prosecute cases before an independent board, which can order agencies to pay compensation to harmed employees. A spokeswoman for the office declined to comment.

Initially, the two complainants at the center of the allegations filed complaints with the head of the SEC IG office – which operates independently of the agency it’s supposed to monitor – after noticing that two employees, a senior supervisor and one of his subordinates, were engaging in what appeared to be an


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“Google & Facebook Are 1984″ – Tax Them ‘Til They Bleed

Courtesy of ZeroHedge. View original post here.

Authored by Raul Ilargi Meijer via The Automatic Earth blog,

An entire library of articles about Big Tech is coming out these days, and I find that much of it is written so well, and the ideas in them so well expressed, that I have little to add. Except, I think I may have the solution to the problems many people see. But I also have a concern that I don’t see addressed, and that may well prevent that solution from being adopted. If so, we’re very far away from any solution at all. And that’s seriously bad news.

Let’s start with a general -even ‘light’- critique of social media by Claire Wardle and Hossein Derakhshan for the Guardian:

How Did The News Go ‘Fake’? When The Media Went Social

Social media force us to live our lives in public, positioned centre-stage in our very own daily performances. Erving Goffman, the American sociologist, articulated the idea of “life as theatre” in his 1956 book The Presentation of Self in Everyday Life, and while the book was published more than half a century ago, the concept is even more relevant today. It is increasingly difficult to live a private life, in terms not just of keeping our personal data away from governments or corporations, but also of keeping our movements, interests and, most worryingly, information consumption habits from the wider world.

The social networks are engineered so that we are constantly assessing others – and being assessed ourselves. In fact our “selves” are scattered across different platforms, and our decisions, which are public or semi-public performances, are driven by our desire to make a good impression on our audiences, imagined and actual. We grudgingly accept these public performances when it comes to our travels, shopping, dating, and dining. We know the deal. The online tools that we use are free in return for us giving up our data, and we understand that they need us to publicly share our lifestyle decisions to encourage people in our network to join, connect and purchase.

But, critically, the same forces have impacted the way we consume news and information. Before our media became “social”, only


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“How To Forecast Markets”: A Departing Top JPMorgan Strategist Reveals What He Learned After 30 Years

Courtesy of ZeroHedge. View original post here.

One of the most popular JPMorgan analysts, traders and commentators, Jan Loeys, head of global asset strategy and author of the weekly "The JPMorgan View" piece is moving on (to a different, non-client facing part of the company), and is using his last weekly address to JPM clients to recap the main lessons he has learned over his 30 year career.

For those carbon-based traders who still trade on the basis of fundamental analysis, inductive reasoning, and discounting, and forecasting the future – instead of merely relying on the fastest laser-based algos to react to the news or hoping for central bank bailouts – we have excerpted the entire piece, and are excited to note that while Loeys may be leaving, he will be replaced by two of our favorite JPM analysts and commentators, Nikos Panigirtzoglou and Marko Kolanovic, who under John Normand will take over as JPM's new Cross-Asset Strategy team.

So, without further ado, here is the latest, and last, from JPM's Jan Loeys, explaining "What have I learned?" after 30 years of doing this…

What have I learned?

How to forecast markets?

  • The theory and empirical literature of Finance are the best starting point as they deal directly with asset prices. Next are macro economics and statistics. Markets are not Math or Engineering, but a forever learning and adapting system with all of us observing and participating from the inside. Quantitative techniques are indispensable, though, to deal with the complexity of financial instruments and the overload of information we face. Empirical evidence counts for more than theory, but you need theory to constrain empirical searchers and avoid spurious correlations.
  • The starting point of Finance is the Theorem of Market Efficiency which posits that under ideal conditions what we all know should be in the price. Only new information moves the price. Hence, it is changes in expectations about the future that drive asset prices, not the level of anything.
  • How to forecasts view changes? The good news is that changes in opinions about fundamentals such as growth and inflation tend to repeat. This is one driver of momentum in asset prices, and is likely driven by the positive feedback between risk markets and the


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Great Voids Have A Way Of Filling

Courtesy of ZeroHedge. View original post here.

Authored by Sven Henrich via NorthmanTrader.com,

I feel compelled to keep documenting reality to raise awareness of the ever larger market dangers which keep lurking underneath the current bubble. Indeed I keep seeing a great void not only in awareness but also in price discovery that have propelled markets to current levels leaving investors and participants ever more lulled into a false sense of security by the current unprecedented phase of volatility compression.

Take these comments as part of an ongoing journey outlining building risk factors. You can read about additional updates/background in the Macro Corner, Market Analysis , NT Blog and the Market Analysis sections of the site..

Briefly to get everyone on the same page:

Two way price discovery, as a normal part of market functioning, has practically seized to exist. I’ve pointed out charts of this nature before, but I’ll use the quarterly $DJIA chart as an example to illustrate the point:

Several points to make here:

The $DJIA is on its 9th quarter of consecutive price appreciation. The last red candle was before the now almost $5 trillion in combined global central bank intervention since February 2016.

The $DJIA, as the $SPX, is now on its 4th consecutive quarter of not reconnecting with its quarterly 5 EMA. Such an extended disconnect has never occurred in the 100 year market history I reviewed. And believe me, I’ve looked:

The few examples of extended quarterly 5EMA disconnects I could find were associated with coming market pain.

Aside from global central bank intervention (also see Liquidity Wave) the other key contributing factor to the no 2 way price discovery equation is the unprecedented influx of passive ETF investing and plenty of data exists to illustrate this point:

What has happened? I consider it retail capitulation. For years hedge funds have underperformed central bank liquidity infested market waters yet retail investors keep seeing markets go up with no downside ever and no apparent associated risk with rising multiple expansion.

The


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One River’s CIO: “Not Since The Housing Bubble Has Society Succumbed To Such Financial Hysteria”

Courtesy of ZeroHedge. View original post here.

Following the first excerpt from the latest weekend note by One River's prolific CIO, Eric Peters, in which the hedge fund manager discusses the outer limits of speculation, and why there is no such thing as "this time will be different" in markets, he also had some notable observations on why of all the asset bubbles currently abounding, that of bitcoin may be the most informative about human nature…

Anecdote

Bitcoin is important,” said Lithium, handsfree on Highway One. “It reminds people that supply scarcity, capital flows, and imagination, matter more than anything.”

Bitcoin printed another 20% weekly range. “Risk tolerance is the market’s most important fundamental,” said Lithium, racing through Malibu, SoCal’s sun streaming, steaming, “It’s also the most mysterious of all market drivers.”

Like every form of intangible money, Bitcoin is an illusion, that derives value through our collective acceptance of its worth. And if that sounds circular, it is. Anyhow, Bitcoin’s value fluctuates like any other currency,  just more wildly. That’s because people hold vastly different opinions as to its worth; ranging from zero to near infinity.

What these opinions have in common is that they’re each the product of an active imagination.   “Bitcoin’s ascent reminds people of all the money they’re not making.”

Not since the housing bubble has society succumbed to mass financial hysteria. Before that had been dotcom fever, which followed the Asian Tigers, and so on, infinitum. But in recent years, we’ve succumbed to incrementalism.

As interest rates collapsed to zero, each basis point took on greater significance. Central banks moved in ever decreasing increments. They printed money on pre-defined schedules. Balance sheet reduction is now formulaic. Drip, drip, drip. As interest rate expectations rise or fall 10bps, global asset prices ebb and flow, slavishly, one tethered to the other.

Imagination remains absent, unlike 1999, when people used credit card cash advances to buy fairy tales. In 2007 they bought castles on credit, scoffing at each 25bp rate hike – until they didn’t. That’s how these things end.

“Bitcoin is igniting imaginations. Unleashing speculative spirits. And for money managers, the only defense against a bubble is to buy it. Which is exceedingly difficult, because this kind of story ends like 1987.”





Chaos In Detroit: Undercover Cops Battle Each Other In Sting Operation Gone Wrong

Courtesy of ZeroHedge. View original post here.

This weekend, a big “embarrassment” is festering inside the Detroit Police Department after undercover units from two separate police precincts exchange blows during a sting operation gone wrong.

Fox2 says it all started when two special operations officers from the 12th Precinct were posing as drug dealers to entrap city residents in a ‘push off’.

The officers were working in Andover on Detroit’s east side, known for high drug activity.

As officers from the 12th Precinct pretended to be dope dealers, two special operations officers from 11th precinct showed up pretending to be customers. As the deal went bad, the 11th precinct officers ordered the 12th Precinct officers to the ground not knowing that they were fellow colleagues.

That is when all hell broke out and we’ll let Fox2 describe what happened next:

FOX 2 is told the rest of the special ops team from the 12th Precinct showed up, and officers began raiding the drug house in the 19300 block of Andover. But instead of fighting crime, officers from both precincts began fighting with each other.

Sources say guns were drawn and punches were thrown while the homeowner stood and watched. The department’s top cops were notified along with Internal Affairs. One officer was taken to the hospital.  

Taryn Asher, Fox2 Anchor/Reporter in Detroit, shares her story of what went wrong…

In a rare incident of ‘blue on blue violence’– this is something that is rarely discussed nevertheless happens. Each officer is now under investigation- as the top brass of the police department and internal affairs have now started their investigations. Nevertheless, top brass of the Detroit Police Department declined to comment and said more details next week.

Bottomline: The story is still developing and we suspect this incident could gain more attention when the ‘reported body-cam footage’ is released.





FX Weekly Preview: Is The USD Correction Done Yet?

Courtesy of ZeroHedge. View original post here.

Submitted by Shant Movsesian and Rajan Dhall MSTA of fxdailyterminal.com

USD correction done yet?

After a number of weeks of painfully tight ranges, there is little on the horizon which looks potent enough to warrant a break out.  Has the apathy in global stocks spread into FX? It looks like it, especially when looking at the carry trade.  Watching USD/JPY has been nothing short of tortuous as we currently remain hemmed into a 113.00-115.00 range.  We have been getting used to watching EUR/USD as the benchmark rate to spark off fresh activity across the currency spectrum, but despite the open 'ended-ness' of the APP come Jan 2018, the pair is now in a fresh stalemate as bids in the mid 1.1500's have only served to limit the correction which was so evidently needed once we had reached the first objective at 1.2000.  For USD/JPY, the market is pinning hopes for tax reform to take off, but the chinks are starting to show again with the corporate rate tax cut to 20% set to be delayed until 2019.  As we saw in the aftermath of president Trump's victory, there seems to be little concern over how these tax cuts are going to be paid for and perhaps move significantly greater concern as to how much they will add to GDP if/when implemented.

Scepticism set in earlier this year once we had pushed above the 116.00 mark, and while the extension stretched into the 118.00's, calls for 120.00 soon fell flat.  After the move down into the 107.00's, we have since moved back into the upper end of the 2017 range, but still looking for a move above 115.00.  There was little data to feed off in the US last week, but we have inflation and consumer data in the week ahead which will shed more light on whether the USD run is truly exhausted or not.  Little correlation with rates at the moment, with the 10yr US benchmark backing off 2.50% in recent weeks, but to little effect, but 2.30% has held since then.  

In Europe, as the turmoil in Spain calms down, divisions inside the ECB flare up again, with Germany calling for firmer guidance towards signalling an end


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Over 61 Dead, 300 Injured After Huge Quake Strikes Iran-Iraq Border

Courtesy of ZeroHedge. View original post here.

Update: AP reports that Iranian officials raise death toll to at least 61, more than 300 injured during earthquake on Iran-Iraq border region.

 

 

Iranian state TV said Iraqi officials had reported six deaths and 200 injuries inside Iraq, though there was no official comment from Iraq's government.

The U.S. Geological Survey said the quake was centered 19 miles (31 kilometers) outside the eastern Iraqi city of Halabja.

The Islamic Republic of Iran News Network quoted the head of the country's emergency medical services, Pirhossein Koulivand, as saying at least 61 had been killed and 300 injured on Iran's side of the border.

Iranian state TV also said Iraqi officials reported at least six people dead inside Iraq, along with more than 50 people injured in Sulaymaniyah province and about 150 in Khanaquin city. No reports were immediately available from Iraq's government.

Koulivand earlier told a local television station that the earthquake knocked out electricity in Iran's western cities of Mehran and Ilam. He also said 35 rescue teams were providing assistance.

The semi-official Iranian ILNA news agency said at least 14 provinces in Iran had been affected by the earthquake.

*  *  *

Update: Iranian Student News Association (ISNA) reports that officials are saying "so far, 30 people were killed and 200 people injured with more expected to be added to this number as first responders being excavation to fix the problem, we are delivering water and electricity to the people."



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Stockman Warns “Mind The Junk” – This Ain’t Your Grandfather’s Capitalism

Courtesy of David Stockman, Contra Corner blog

The financial system is loaded with anomalies, deformations and mispricings – outcomes which would never occur on an honest free market. For example, the junk bond yield at just 2% in Europe is now below that of the "risk-free" US treasury bond owing solely to the depredations of the ECB.

Indeed, madman Draghi has purchased $2.6 trillion of securities since launching QE in March 2015, and during the interim has actually bought more government debt than was issued by all the socialist governments of the EU-19 combined!

Euro Area Central Bank Balance Sheet

Outrunning Europe's deficit-addicted welfare states is quite a feat in itself, but that wasn't the half of it. The ECB's printing press became so parched for government debt to buy that it has ended up owning more than $120 billion of corporate bonds. In some recent cases, the ECB has actually taking down 20% or more of new corporate issues—an action that surely leaves the fastidious founders of its Bundesbank prodecessor turning in their graves.

In turn, the ECB's Big Fat Thumb on the investment grade scale stampeded fund managers into the junk market in quest of yield, especially for BB rated paper which makes up 75% of the European high yield market. So doing, these return hungry managers have crushed the the yield on the Merrill Lynch junk bond index, driving it down from 6.4% in early 2106 to an incredible 2.002% last week.

That is to say, leveraged speculators in European junk have made 100% plus returns over the last 20 months on dodgy paper that should be yielding double or triple its current rate.

In fact, the current lunatic euro-trash yield is completely off the historical charts. Euro-junk rarely yielded under 5% in the past, and had spiked to upwards of 10% at the time of Draghi's "whatever it takes" ukase, which, in turn, was modest compared to the 25% blow-0ff high during the depths of the financial crisis.

Then again, there has rarely been a greater gift to speculators. The front-runners who took Draghi at his word back in 2012 have made 1000% returns. On bonds!

Needless to say, these utterly false price signals would never occur on the free market. Yet by attracting tens of billions of yield-seeking capital into


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Israel Shoots Down Syrian Recon Drone Over Golan Heights

Courtesy of ZeroHedge. View original post here.

Early this morning, Reuters reported that Israel has intercepted and downed a Syrian reconnaissance drone approaching its northern border over Golan Heights.

The drone was shot down by the US-MIM-104 Patriot surface-to-air missile (SAM) system…

Over the Golan demilitarized zone that has separated Israeli and Syrian forces since the ceasefire after the 1973 war.

Lauren Izso, news anchor, correspondent for i24NEWS in Jaffa Port provides footage of this mornings incident…

#BREAKING: Israel shoots down drone attempting to infiltrate border with Syria, according to the @IDFSpokesperson @ShaiBenari @i24NEWS_EN pic.twitter.com/cQ0Ylbsu2n

— Lauren Izso (@LaurenIzso) November 11, 2017

The official Israel Defense Forces (IDF) Twitter confirmed…

Moments ago, the IDF used a Patriot Missile to intercept a UAV that attempted to infiltrate Israeli airspace in the Golan Heights

— IDF (@IDFSpokesperson) November 11, 2017

In another report, the IDF initially told Reuters it was a ‘Russian-manufactured’ UAV, but offered no evidence.

The military initially told Reuters the UAV was Russian-manufactured but offered no evidence. A military source later said it was unclear whether the UAV was indeed Russian-made.

Lieutenant-Colonel Jonathan Conricus, told Reuters “it was a reconnaissance UAV (unmanned aerial vehicle) and not an attack UAV and we are checking whether there is any connection to Iran and Hezbollah”.

In response to the incident, “the State of Israel regards with utmost seriousness any violation of its sovereignty and will respond with force to any provocation,” made in a statement by Israeli Defense Minister Avigdor Liebermam.

Sputnik provides the backdrop of why tensions are high in ‘disputed Golan Heights’ between Israel and Syria,

Israel and Syria have attacked each other on numerous occasions over the disputed Golan Heights, which were partly seized by Israel during the Six-Day War in 1967; further gains were made by Israel as a result of the Yom Kippur War in 1973.


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Kimble Charting Solutions

Wilshire 5000 Creating A Triple Top? An Important Breakout Test Is In Play!

Courtesy of Chris Kimble.

The stock market has been on fire of late, rallying up to the edge of price resistance on several indexes. Today, we look at one of those stock market indexes: the Wilshire 5000.

The Wilshire 5000 tracks all of the stocks in the US market, so it is a broad-based index that carries significant importance when gauging the health of the overall US stock market.

Looking at the long-term “weekly” chart above, it is pretty clear that the index is at an important price juncture.

The Wilshire 5000 spent the last 25 years trading within a rising price channel (1)...



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Phil's Favorites

Will it hold?

 

Will it hold?

Courtesy of 

My Chart o’ the Day this weekend comes to us from Jonathan Krinsky at Baycrest Partners, who’s out with some significant insights about the week that was.

He looks at the possibility that both the dollar and bond prices have hit a high and are now about to roll over. A drop in USD below support, which appears to be imminent, would have all sorts of implications for the recent breakout in gold extending and for the potential of emerging markets stocks outperforming US stocks. A drop in bond prices (rates going up) could mean a reversion in the bond proxy rally (REITs and Utes) and a boost for the banks and brok...



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Zero Hedge

Draghi 'Out'ed By ECB Insiders As Liar And Schemer

Courtesy of ZeroHedge. View original post here.

Authored by Wolf Richter via WolfStreet.com,

Draghi’s shenanigans get hilarious, months before his term ends.

So here’s ECB President Mario Draghi, whose term ends in October, and he’s at the ECB Forum in Portugal, and in a speech on Tuesday titled innocuously, “Twenty Years of ...



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Chart School

Formula for when the Great Stock Market Rally ends

Courtesy of Read the Ticker.

When valuations for the boring water company or the boring electric company is trading like your Facebook, Apple, Amazon or Netflix or Google (ie FANG) you know something is wrong.

This is when a seriously over valued market is screaming at you.

Of course the reader must understand in a world where money printing goes super nuts (Zimbabwe style) the stock market may go hyper inflationary and picking a time frame for a top is never a good idea, but we are not there yet. There is no Ben Bernanke helicopter money to the masses yet (ie MMT). 

To see when water company's (and such like) are nearing the crazy FANG like valuations a review of the Dow Jones Utility Index channel shows us how history can repeat. The c...

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ValueWalk

The "Tesla Killer" Car Is Nowhere In Sight

 

The “Tesla Killer” Car Is Nowhere In Sight

By Jacob Wolinsky, ValueWalk

Here’s some catnip for the Tesla bulls on this email list: my analyst, Kevin DeCamp, a longtime TSLA shareholder and car owner, took a test drive of the Jaguar I-PACE and, while it “looks great and is fun to drive… it is lacking in a few areas where Tesla really shines.” He concludes that “Tesla may end up killing itself, but the “Tesla killer” car is nowhere in sight.”

The Tesla Killer Hasn’t Arrived Yet: My Test Drive of the Jaguar I-PACE

By Kevin DeCamp

As a long-time, devoted Tesla...



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Digital Currencies

Cryptocurrencies are finally going mainstream - the battle is on to bring them under global control

 

Cryptocurrencies are finally going mainstream – the battle is on to bring them under global control

The high seas are getting lower. dianemeise

Courtesy of Iwa Salami, University of East London

The 21st-century revolutionaries who have dominated cryptocurrencies are having to move over. Mainstream financial institutions are adopting these assets and the blockchain technology that enables them, in what ...



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Insider Scoop

What To Expect From The S&P 500 Over The Next 20 Years

Courtesy of Benzinga.

The volatility of the SPDR S&P 500 ETF Trust (NYSE:SPY) so far in 2019 is enough to highlight just how unpredictable the S&P 500 can be.

It may seem impossible to predict what’s coming for the market over the next 20 years, but DataTrek Research co-founder Nicholas Colas recently ma...



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Biotech

Consumer genetic testing customers stretch their DNA data further with third-party interpretation websites

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

 

Consumer genetic testing customers stretch their DNA data further with third-party interpretation websites

If you’ve got the raw data, why not mine it for more info? Sergey Nivens/Shutterstock.com

Courtesy of Sarah Catherine Nelson, University of Washington

Back in 2016, Helen (a pseudonym) took three different direct-to-consumer (DTC) genetic tests: AncestryDNA, 23andMe and FamilyTreeDNA. She saw genetic testing as a way...



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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Mapping The Market

It's Not Capitalism, it's Crony Capitalism

A good start from :

It's Not Capitalism, it's Crony Capitalism

Excerpt:

The threat to America is this: we have abandoned our core philosophy. Our first principle of this nation as a meritocracy, a free-market economy, where competition drives economic decision-making. In its place, we have allowed a malignancy to fester, a virulent pus-filled bastardized form of economics so corrosive in nature, so dangerously pestilent, that it presents an extinction-level threat to America – both the actual nation and the “idea” of America.

This all-encompassing mutant corruption saps men’s souls, crushes opportunities, and destroys economic mobility. Its a Smash & Grab system of ill-gotten re...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

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

 

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

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

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

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



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

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

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

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

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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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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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