Archive for 2018

How The Iran Sanctions Drama Intersects With OPEC-Plus

Courtesy of ZeroHedge. View original post here.

Authored by Pepe Escobar via The Asia Times,

Major states buying oil from Iran are unlikely to heed the US call to drop imports; key allies want a waiver to avoid sanctions; OPEC, meanwhile, will have trouble boosting output in the short-term; the puzzle is not solved, but there are dark clouds…

History may have registered stranger geoeconomic bedfellows. But in the current OPEC-plus world, the rules of the game are now de facto controlled by OPEC powerhouse Saudi Arabia in concert with non-OPEC Russia.

Russia may even join OPEC as an associate member. There’s a key clause in the bilateral Riyadh-Moscow agreement stipulating that joint interventions to raise or lower oil production now are the new norm.

Some major OPEC members are not exactly pleased. At the recent meeting in Vienna, three member states – Iran, Iraq and Venezuela – tried, but did not manage to veto the drive for increased production. Venezuela’s production is actually declining. Iran, facing a tacit US declaration of economic war, is hard-pressed to increase production. And Iraq’s will need time to boost output.

Goldman Sachs insists: “The oil market remains in deficit… requiring higher core OPEC and Russia production to avoid a stock-out by year-end.” Goldman Sachs expects production by OPEC and Russia to rise by 1.3 million barrels a day by the end of 2019. Persian Gulf traders have told Asia Times that’s unrealistic: “Goldman Sachs does not have the figures to assert the capability of Russia and Saudi Arabia to produce so much oil. At most, that would be a million barrels a day. And it is doubtful Russia will seek to damage Iran even if they had the capacity.”

In theory, Russia and Iran, both under US sanctions, coordinate their energy policy. Both are interested in countering the US shale industry. Top energy analysts consider that only with oil at $100 a barrel will fracking become highly profitable. And oil and gas generated via fracked in the US is a short-term thing; it will largely be exhausted in 15 years. Moreover, the real story may be that shale oil is, in the end, nothing but a Ponzi scheme.

Those were the days
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The Velocity of Money… and Revolution


David Brin is an astrophysicist, technology consultant, and best-selling author who speaks, writes, and advises on many topics including national defense, creativity, and space exploration. He’s also one of the “World’s Best Futurists.” Find David’s books and latest thoughts on various matters at his website and blog. If you missed my interview with David, read it here. ~ Ilene 


The Velocity of Money… and Revolution

Courtesy of David Brin, Contrary Brin Blog

If you’re perfectly comfy with the economy’s gyrations, then pay no attention as I explain what’s actually going on. Economists have been recognizing signs of serious dislocation for some time. Even right-of-center fellows like newsletter mavens John Mauldin and Lacy Hunt have finally recognized the core indications. I wish I could share their excellent newsletters with you. But – at some risk of misinterpreting or even treating them unfairly – I intend to paraphrase. And criticize.

A recent Mauldin missive correctly cites the most disturbing symptom of trouble in the U.S. economy: a plummet in Money Velocity (MV).

To quote John:  “You may be asking, what exactly is the velocity of money? Essentially, it’s the frequency with which the same dollar changes hands because the holders of the dollar use it to buy something. Higher velocity means more economic activity, which usually means higher growth. So it is somewhat disturbing to see velocity now at its lowest point since 1949, and at levels associated with the Great Depression.”

Somewhat… disturbing? That’s at-best an understatement, since no other economic indicator is as telling. MV is about a bridge repair worker buying furniture, that lets a furniture maker get dentures, so a dentist can pay her cleaning lady, who buys groceries….

There are rare occasions when MV can be too high, as during the 1970s hyper-inflation, when Jimmy Carter told Paul Volcker “Cure this, and to hell with my re-election.”  But those times are rare. Generally, for all our lives, Money Velocity has been declining into dangerous sluggishness, falling hard since the 80s, rising a little in the 90s, then plummeting.

Alas, while fellows like Hunt and Mauldin are at last pointing at this worrisome symptom, they remain in frantic denial over the cause. Absolutely,…
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How Much Do CEOs Of Fortune 100 Companies Make?

Courtesy of ZeroHedge. View original post here.

Submitted by Priceonomics

The income gap remains a discussion topic – the current average CEO to median employee salary is about 200:1. In 2015, the Securities and Exchange Commission mandated that all publicly traded companies disclose their executive compensation. This means that companies need to include a summary table of the 5 highest paid executives as part of their annual Proxy statement (Form DEF 14A).

In this report, we analyzed the performance of the salary of Fortune 100 their CEOs and their company performance. The total salary of a CEO is broken down into seven categories: base salary, bonus, stock awards, option awards, non-equity incentives, pension value, and “other” compensations. In the pie chart below, we show an average composition of all salary data.

Base salary makes up only 8% of total compensation. The largest source of income is from stock awards, which represent nearly 50%.

Is the 200x multiple of median salary justified? Do companies do better when their CEO is paid more? One might argue that a higher salary drives better performance. We took the total pay of the Fortune 100 CEOs and compared it to the performance of the company, measured by annual revenue growth rate (as a % change from FY16 to FY17). With a correlation coefficient of 0.069 (as shown in the chart below), we can see there is no clear relationship between how much a CEO takes home and how well the company performs.

Confounding the issue that that the CEOs of some high growth companies don't receive high salaries because they already own a lot of equIty. Of note Larry Page, CEO of Alphabet, took home a total salary of $1. The $1-Salary-Club also include Oracle Executive chairmain, Larry Ellison, and Facebook CEO, Mark Zuckerberg. As these Founder/CEOs possess large holdings of stock in the company, such compensation signifies their pledge to bear full responsibility for the well-being of the company.  

The table below shows the most of the Fortune 100 companies, ranked by CEO compensation.

Key takeaways:

  • A majority of (46%) of CEO compensation comes from stock awards, which is directly correlated with the performance of the company.
  • There is no strong correlation between how well the company performs (measured as annual growth in revenue) and how much the CEO gets paid

Emerging Market Crisis Spreads To The Core, Central Banks Face Catch-22


Emerging Market Crisis Spreads To The Core, Central Banks Face Catch-22

Courtesy of John Rubino, Dollar Collapse

One of the things giving “data-driven” central banks wiggle room on their pledge to tighten monetary policy is the fact there are several definitions of inflation. In the US the thing most people think of as inflation is the consumer price index, or CPI, which is now running comfortably above the Fed’s target. But the Fed prefers the personal consumption expenditures (PCE) price index, which tends to paint a less inflationary picture. And within the PCE universe, core PCE, which strips out energy and food, is the data series that actually motivates Fed action.

And that, at long last, is now above the 2% target, having risen 2.3% in the past year. On the following chart, the core PCE is the blue line. Note the steepening slope towards mid-year. This is clearly a trend with some momentum which, if it continues, will take this index from slightly above target to substantially above.

PCE inflation

A more surprising above-target reading just came from Germany, which didn’t used to have inflation of any kind. But now it does:

(Reuters) – German inflation surpassed the target set by the European Central Bank for the euro zone in June, the second month in a row it has done so, lending support to the ECB’s decision to close its bond purchase scheme at the end of the year.

Data published by the Federal Statistics Office on Thursday showed that EU-harmonised German consumer prices rose 2.1 percent year-on-year. The same measure had increased by 2.2 percent in May. The yearly figure matched a Reuters forecast.

German inflation

Again, note the pop over the last couple of months. If this is sustained, the European Central Bank will have to speed up its leisurely tightening pace. Right now it’s scaling back its bond-buying but not signaling higher rates – which will definitely have to be on the menu if German inflation stays above 2%.

Emerging Market Crisis

But there’s a tricky dynamic now in play: Higher interest rates and rising currencies in the core of the global financial system cause trouble on the periphery, which then boomerangs…
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WSJ: Next Recession May Hit In 2020

Courtesy of ZeroHedge. View original post here.

The second-longest economic expansion in US history will most likely end in 2020 as the Fed raises interest rates to cool off an overheating economy, reports the Wall Street Journal which surveyed 76 forecasters

Some 59% of private-sector economists surveyed in recent days said the expansion was most likely to end in 2020. An additional 22% selected 2021, and smaller camps predicted the next recession would arrive next year, in 2022 or at some unspecified later date. -WSJ

 “The current economic expansion is getting long in the tooth by historical standards, and more late-cycle signs are emerging,” said Bank of the West's chief economist Scott Anderson, chief economist, who thinks a 2020 recession is likely. 

As for the cause – 62% of forecasters said that an overheating economy would lead to Fed tightening, while other economists (at least 5%) said that another financial crisis, bubble bursting or disruptions to international trade would be the culprits.

Recessions are notoriously difficult to predict, and sometimes are tricky to recognize even after they start. The recession that began in December 2007 wasn’t officially proclaimed by the National Bureau of Economic Research’s recession-dating committee until a year had gone by. Forecasters saw the chances of a recession rise back in 2011 and in 2016; both turned out to be false alarms. -WSJ

“Recessions occur because of unforeseen shocks, so by definition there is no meaningful answer,” said Daniel Bachman – an economist with Deloitte who declined to estimate either the timing or cause of the next downturn.

The takeaway: while a recession isn't imminent, the economy won't expand forever – and the next downturn may arrive during the 2020 presidential campaign

“Any year from 2019 onward is in play,” Lou Crandall, chief economist at Wrightson ICAP told the Journal

On average, economists predicted gross domestic product will expand 2.9% in the fourth quarter of 2018 compared with a year earlier, up from 2.6% growth in 2017. The unemployment rate, which fell to 3.9% in April, was expected to slide further to

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Confronting The Dragon With Peter Navarro

Courtesy of ZeroHedge. View original post here.

Authored by EconomicPrism's MN Gordon, annotated by Acting-Man's Pater Tenebrarum,

Of No Real Use

A young man might go to business school believing he is obtaining some sort of academic training that will enable him to make a comfortable living.  His degree may gain him entry into a large corporation, where he can work his way up to a good income.  This may even put him on the fast track to what he envisions as success.

Don’t knock it: Being useless can lead to unexpected career opportunities… [PT]

But his academic training likely won’t be of any real use.  He won’t be prepared to create new products or deliver new services or technologies.  He won’t possess any special knowledge that will improve the well-being or satisfaction of others.  He won’t have the skills to bring in new business or grow the bottom line.

Rather, his academic training will have prepared him to use spreadsheet entries to forecast quarterly revenue and margin targets.  What’s more, if the numbers show a disagreeable trajectory, he won’t have the skills or slightest inkling as to what to do about it.  He’ll merely ride the wave down until it crashes on the rocky reef.

But if he is in a position of leadership, he will likely panic.  Out of his element, he will chase one idiotic solution after another.  He will package up and sell off a segment of the business.  He will invest in a new company branding initiative or fancy computer based system tools.  He will postpone the effective date of annual merit increases until the second quarter.  He may even require that workers put $0.25 cents in a collection jar every time they fill up their coffee mug.

The results of these efforts will likely be the exact opposite of that intended.  Instead of stemming the hemorrhage of red ink, these efforts will accelerate it.  Before long the productive employees will jump like rats from a sinking ship.  After that, the company will take on water in earnest.

We have seen it happen first hand.  We know how quickly these things can go down.  Here is the point…

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US Army Inks $193 Million Deal To Buy Invisible Futuristic Missile Shield

Courtesy of ZeroHedge. View original post here.

Back in April, we discussed how the U.S. Army M1 Abrams tank, an American third-generation main battle tank, was in the process of being upgraded with an invisible missile shield that will destroy all chemical energy anti-tank threats and other threats before reaching the vehicle.

It is part of a modernization program that the Pentagon is preparing its main battle tank for the next evolution of hybrid wars, expected to start in the mid-2020s, or before.

According to The Times of Israel, the U.S. Army awarded a contract worth $193 million for Israel’s TROPHY Active Protection System (APS) for its Abrams tanks “in support of immediate operational requirements,” Rafael Advanced Defense Systems announced.

Designed to block incoming anti-tank missile threats, the Trophy system has four radar antennas and fire-control radars to track incoming threats such as anti-tank-guided-missiles (ATGMs), and rocket-propelled grenades (RGPs). Once the system detects a projectile, it will automatically fire a shotgun-type blast to neutralize the threat.

Under the terms of the contract the TROPHY Active Protection System (APS), countermeasures, and maintenance kits will be supplied by the American defense contractor Leonardo DRS, Inc., which partnered with Rafael to manufacture them.

TROPHY Active Protection System (APS) will be manufactured in the United States and Israel, which is seen as a win for the Trump administration, as wartime marches closer.

The system, developed by Israel’s Rafael Defense, is the world’s first and only fully operational active defense system [invisible shield] and hostile detection system for armored vehicles. Rafael mentioned that over 1,000 systems had been deployed on all major Israeli ground combat platforms.

“Rafael has provided protection solutions to US service members for over two decades via lifesaving passive and reactive armor on vehicles such as Bradley, Stryker and AAV7. We are excited to continue to do so with TROPHY,” said Moshe Elazar, Executive Vice President and Head of Rafael’s Land and Naval Division.

“The majority of TROPHY components are manufactured by the American Defense Industry and we are excited by the opportunity to increase manufacturing in the U.S., including for Israeli systems, as the U.S. acquires additional systems,” Elazar added.

The Trophy Active Protection…
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Amazon Alone Is Responsible For More Than A Third Of The S&P’s Return This Year

Courtesy of ZeroHedge. View original post here.

Whether it is capital inflows that cause stock outperformance, or rising stocks leads to investors chasing upside is one of those perpetual "chicken or egg" type financial questions (although in this day and age of index funds and passive investing lifting all "Marxist" boats on a sea of $18 trillion in  excess liquidity without regard for fundamentals, we have a strong feeling what the right answer may be) but whichever way the causal arrow points, one thing is certain: amid turbulent capital markets, panic-inducing spikes in volatility, and emerging markets on the verge of a bear market, tech stocks have seen a relentless investor interest in 2018, or as Eric Peters put it, "tech fund inflows are running at a $37bln annualized pace this year, 2x last year’s stunning rate and 10x higher than any year in the past 15."

In light of such an outpouring of capital, it probably should not come as a surprise just how much of an outlier tech performance has been, and yet the following table from Goldman's David Kostin is shocking nonetheless. It shows that in 2018 whose the first half just concluded, just one stock alone is responsible for more than a third of the market's performance: Amazon, whose 45% YTD return has contributed to 36% of the S&P 3% total return this year, including dividends.

Amazon aside, the rest of the Top 10 S&P 500 stocks of 2018 are the who's who of the tech world, and collectively their total return amounts to 122% of the S&P total return in the first half of the year.

And another striking fact: just the Top 4 stocks, Amazon, Microsoft, Apple and Netflix have been responsible for 84% of the S&P upside in 2018 (and yes, these are more or less the stocks David Einhorn is short in his bubble basket, which explains his -19% YTD return).

Of course, after such a historic start to the year, the question is whether this unprecedented tech outperformance will continue? If Morgan Stanley is right, which expects a sharp market response to the escalating trade wars – which it…
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Last-Minute New Jersey Budget Compromise Reached Thanks To More Tax Hikes For The Rich

Courtesy of ZeroHedge. View original post here.

For the second years in a row, New Jersey has narrowly avoided a shutdown of the state government after Gov. Phil Murphy reached a compromise with Democrats in the legislature that will see a substantial hike in taxes on corporations and wealthy individuals.

Phil Murphy

Phil Murphy

And while Goldman alum Murphy managed to stop his fellow Democrats from raising NJ's corporate tax rate to the highest in the country, the deal includes an increase in taxes on the state's wealthiest individuals. Taxpayers who earn more than $5 million a year will see their income-tax rate climb from 8.97% to 10.75%. Meanwhile, corporations will face a surcharge of 2% over four years. The deal avoided a government shutdown that would've closed the state's parks and beaches just in time for the Independence Day holiday.

"There will be no shutdown," Murphy said at a news conference in Trenton, alongside legislative leaders with whom he had negotiated for about four hours, after a series of unsuccessful meetings during the week. "The parks and beaches are open."

Murphy's initial budget plan would have raised the sales-tax rate to 7% from 6.625%, and the tax rate for income over $1 million to 10.75% from 8.97%. It also included levies on Uber rides, Airbnb stays and electronic cigarettes. But Democratic legislators objected to the millionaire’s tax, and instead proposed a two-year, 4% surcharge on corporate business taxes. According to Bloomberg, this would've boosted the overall tax rate for the largest corporations in the state to 13% – the highest in the country.

According to, the tax hike on the wealthiest New Jersey residents will affect more than 1,700 taxpayers. Meanwhile, corporations will pay an additional 2.5% surtax, which will drop to 1.5% in two years.

The deal restored a popular property-tax credit program known as homestead rebates for seniors and low-income homeowners, and also included a $242 million funding boost for New Jersey Transit. Miraculously, lawmakers found room in the $37.4 billion budget for a $3.2 billion payment to the state's drastically underfunded pensions.

Unfortunately for all marijuana smokers living in the state, an agreement that would've legalized weed wasn't included in
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Supply Issues Emerge As Bounce Stalls

Courtesy of Declan.

Friday’s action didn’t bring about the bounce I would have liked after Thursday’s picture-perfect defenses of lead moving averages or support.

The S&P closed with a bearish black candlestick on a spike high above the 50-day MA. Volume climbed in accumulation as On-Balance-Volume triggered a ‘buy’ signal. I would see this as a bearish close and would look for downside Monday; potentially playing for a test of the 200-day MA

The Nasdaq also left a bearish black candlestick after it bounced off its 50-day MA. There wasn’t a spike high so it’s not as bearish as the S&P but black candlesticks are nearly always followed by lower closes the next day.

It was the same story for the Nasdaq 100; look for a fresh test of channel support.

The Semiconductor Index is also showing a black candlestick. It occurred below rising support (now resistance) following a second test of the 200-day MA. Monday is a big day for the index. Should the 200-day MA fail to hold as support, then aside from the April swing low, there isn’t a whole lot to hang on too. This will be bad news for the Nasdaq and Nasdaq 100 (and possibly Small and Large Caps too); it’s a key watch index for the coming weeks.

The Russell 2000 finished with a gravestone doji with the 50-day MA its most recent test.  Relative performance finished with a switch lower  – although this relationship has effectively flat-lined since mid-April. It still has support to work with but wannabe buyers will probably want to see what happens in the Semiconductor Index before jumping in.

For tomorrow, watch the Semiconductor Index, it’s looking like a bellwether for the other indices. Friday’s finish suggests Monday will be a down day.

You’ve now read my opinion, next read Douglas’ blog.

I trade a small account on eToro, and invest using Ameritrade. If you would like to join me on eToro, register through the banner link and search for “fallond”.

If you are new to spread betting, here is a guide on position size based on eToro’s system.


Zero Hedge

Visualizing How Much Oil Is In An Electric Vehicle?

Courtesy of ZeroHedge. View original post here.

When most people think about oil and natural gas, the first thing that comes to mind is the gas in the tank of their car. But, as Visual Capitalist's Nicholas LePan notes, there is actually much more to oil’s role, than meets the eye...

Oil, along with natural gas, has hundreds of different uses in a modern vehicle through petrochemicals.

Today’s infographic comes to us from American Fuel & Petrochemicals Manufacturers, and covers why oil is a critical mate...

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Phil's Favorites

Assange's new indictment: Espionage and the First Amendment


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Assange’s new indictment: Espionage and the First Amendment

Courtesy of Ofer Raban, University of Oregon

Julian Assange, the co-founder of WikiLeaks, has been charged by the U.S. Department of Justice with a slew of Espionage Act violations that could keep him in prison for the rest of his life.

The new indictment expands an earlier one charging Assange with conspiring w...

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Insider Scoop

Jefferies Sees 60-Percent Upside In Aphria Shares, Says Buy The Dip

Courtesy of Benzinga.

After a red-hot start to 2019, Canadian cannabis producer Aphria Inc (NYSE: APHA) has run out of steam, tumbling more than 31 percent in the past three months.

Despite the recent weakness, one Wall Street analyst said Friday that the stock has 30-percent upside potential. 

The Analyst

Jefferies analyst ... more from Insider

Kimble Charting Solutions

DAX (Germany) About To Send A Bearish Message To The S&P 500?

Courtesy of Chris Kimble.

Is the DAX index from Germany about to send a bearish message to stocks in Europe and the States? Sure could!

This chart looks at the DAX over the past 9-years. It’s spent the majority of the past 8-years inside of rising channel (1), creating a series of higher lows and higher highs.

It looks to have created a “Double Top” as it was kissing the underside of the rising channel last year at (2).

After creating the potential double top, the DAX index has continued to create a series of lower highs, while experiencing a bearish divergence with the S...

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Chart School

Brexit Joke - Cant be serious all the time

Courtesy of Read the Ticker.

Alistair Williams comedian nails it, thank god for good humour! Prime Minister May the negotiator. Not!

Alistair Williams Comedian youtube

This is a classic! ha!

Fundamentals are important, and so is market timing, here at we believe a combination of Gann Angles, ...

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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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DNA as you've never seen it before, thanks to a new nanotechnology imaging method

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


DNA as you've never seen it before, thanks to a new nanotechnology imaging method

A map of DNA with the double helix colored blue, the landmarks in green, and the start points for copying the molecule in red. David Gilbert/Kyle Klein, CC BY-ND

Courtesy of David M. Gilbert, Florida State University


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More Examples Of "Typical Tesla "wise-guy scamminess"

By Jacob Wolinsky. Originally published at ValueWalk.

Stanphyl Capital’s letter to investors for the month of March 2019.

rawpixel / Pixabay

Friends and Fellow Investors:

For March 2019 the fund was up approximately 5.5% net of all fees and expenses. By way of comparison, the S&P 500 was up approximately 1.9% while the Russell 2000 was down approximately 2.1%. Year-to-date 2019 the fund is up approximately 12.8% while the S&P 500 is up approximately 13.6% and the ...

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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


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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Swing trading portfolio - week of September 11th, 2017

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


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

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

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

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

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Free eBook - "My Top Strategies for 2017"



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

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

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

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

Some other great content in this free eBook includes:


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


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About Phil:

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

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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