Archive for 2018

Vacation: Americans Get A Raw Deal

Courtesy of ZeroHedge. View original post here.

Madrid is a peculiar place in August. Aside from the stifling heat, the traffic isn’t too hectic, restaurants are either closed or distinctly emptier while tourist hotspots are unusually quieter. That sense of tranquility is due to the locals leaving the the Spanish capital in order to find refuge from the scorching temperatures in the countryside and along the coast.

Additionally, as Statista’s Niall McCarthy notes, Spanish workers have no problems leaving their jobs for weeks on end given that they have a statutory minimum of 22 paid vacation daysaccording to the OECD.

They get 14 public holidays on top of that, meaning they get a grand total of 36 paid days leave annually. Many workers get even days depending on their company and position.

Infographic: Vacation: Americans Get A Raw Deal | Statista

You will find more infographics at Statista

The situation in France is similar with motorways clogged with traffic every August as people flee the cities to start their summer holidays. French workers also get a minimum of 36 paid days off every year, of which 11 are public holidays and 25 are the statutory minimum.

Elsewhere the vacation allowance falls in Asia’s major economies with South Korean workers getting a minimum of 15 days and people in Japan getting a mere 10.

That’s still far better than workers in the United States.

While people in France and Spain spend weeks chilling at the beach, most Americans are more than likely still stuck at their desks.

The U.S. remains the only advanced economy that doesn’t guarantee paid vacation. Even though some companies are generous and provide their employees with up to 15 days of paid leave annually, almost one in four private sector workers does not receive any paid vacation, according to the Center for Economic and Policy Research.





Saudi Arabia Starts To Weaponize Its Wealth

Courtesy of ZeroHedge. View original post here.

Authored by Lionel Laurent, op-ed via Bloomberg.com,

Here’s a subject that Elon Musk might think twice before tweeting about.

Resource-rich Saudi Arabia, which in recent months amassed a $2 billion stake in the Twitter-mad billionaire’s electric-car company Tesla Inc., has declared economic war on Canada. The cause was a tweet by Canadian Foreign Minister Chrystia Freeland, whose call for the release of social activists arrested by the Gulf monarchy earned a stunningly disproportionate response this week.

Loonie Tunes

The absolute impact of Saudi’s spat is small, but fear of an escalation hit the Canadian dollar

Source: Bloomberg

Intraday times are displayed in ET.

Riyadh has halted new investments in Ottawa, expelled Canada’s ambassador, stopped the state airline flying there, suspended a student exchange program, pulled medical patients from Canadian hospitals, and started selling off Canadian assets (according to the Financial Times.) It’s out to punish the Canadians “no matter the cost,” a source close to the situation told the FT.

Musk should have reason to care. He’s half-Canadian, and studied in Canada. Had he built his cash-guzzling automaker north of the International Boundary, the Saudis would doubtless take a different view on that backing for Tesla – and the possibility of helping him take the company private again.

Indeed, it’s this apparent Saudi willingness to “weaponize” its overseas investments that should give western governments and business leaders pause for thought everywhere – and might explain in part why Canada’s allies have been slow to offer backing to Freeland and her prime minister, Justin Trudeau.

We’ve seen this style of economic warfare before – in the 1970s, Arab states wielded the “oil weapon” –  but this latest attack comes after a dramatic increase in Riyadh’s foreign investments.

Black Gold

Saudi Arabia’s sovereign wealth fund is spending abroad, but at what cost?

Source: Bloomberg

Note: Vision Fund investment is stated five-year goal

The Public Investment Fund, Saudi Arabia’s wealth fund, owns stakes in Uber Technologies Inc., German transport firm Hapag-Lloyd AG, Richard Branson’s Virgin Group, an infrastructure partnership with Blackstone Group and the biggest-ever technology investment vehicle with SoftBank Group Corp. Turning Saudi’s state investment arm into a $2 trillion powerhouse is core to Crown Prince Mohammed bin Salman’s strategy of diversifying the economy away from oil.

Few have seen fit to turn down this money. Yet we’ve already witnessed the collateral business damage…
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Crisis Levels: California’s Housing Affordability Plummets To 10-Year Low

Courtesy of ZeroHedge. View original post here.

California’s housing affordability crisis is progressively getting worse. It has now plummeted to its lowest level in 10-years, and less than one in five households can afford to purchase a median-priced single-family home in the Bay Area, according to new data released by the California Association of Realtors (CAR).

CAR released its second-quarter Housing Affordability Index report (HAI), based on the percentage of all households that can afford to purchase a median-priced, single-family home in the state. CAR also reports affordability indices for regions and counties within the state. The index is regarded as the most fundamental benchmark of housing well-being for home buyers.

The percentage of homebuyers who could afford to buy a median-priced, existing single-family home in the state declined from 31 percent in the first quarter to 26 in the second quarter; in the previous year, the index was at 29 percent, according to CAR’s HAI.

The second quarter marked the 21st consecutive quarter that CAR’s HAI printed below 40 percent; the index topped at 56 percent in the first quarter of 2012.

The report showed that prospective homebuyers would need to have minimum annual income of $126,500 to prequalify for the purchase of a $596,730 statewide median-priced, existing single-family home in the second quarter. Assuming a 20 percent down payment and an effective composite interest rate of 4.70 percent, the monthly payments of a 30-year fixed-rate loan would be around $3,160.

The California counties that recorded 10-year lows in housing affordability were Alameda, Merced, Orange, Riverside, Sacramento, San Bernardino, San Diego, San Mateo, Santa Clara, Santa Cruz, and Sonoma.

Here are the areas where housing affordability is at crisis levels: Santa Cruz (12 percent), San Francisco, San Mateo, and Mono (all at 14 percent), and Alameda and Santa Clara (both at 16 percent).

According to CAR’s index, the most affordable counties in California during the second quarter were Lassen (64 percent), Kern (53 percent), Madera (52 percent), Tehama (51 percent) and Kings (50 percent).

Housing Affordability Peaked At 1Q 2012 

Housing Affordability — Traditional Index 

Affordability Peak vs. Current 

Minimum Annual Income Required During Affordability Peak vs. Current 

Monthly PITI During Affordability Peak vs. Current 

In a separate, but relevant report from CAR, data shows California’s real estate market could have already peaked.

California Home Sales Declined for the 1 st Time in
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South African Rand Flash-Crashes 10% As Turkey Contagion Spreads

Courtesy of ZeroHedge. View original post here.

Amid increased anxiety over Ramaphosa's white farmer land confiscation and reports of a $4.2 billion bailout of state-owned enterprises, the Emerging Market rout in Turkey has sparked a collapse in the Rand in early Asia trading.

The Rand crashed 10% against the dollar almost instantaneously as Asian FX markets opened…

Looks like Ramaphosa top-ticked it…

As Simon Black warned back in March, when Ramaphosa to push for the constitutional change required to confiscate white farmers' lands, this would guarantee a banking crisis for the country. Here's why – a lot of this land that the government wants to confiscate probably has quite a bit of bank debt.

Imagine – you just bought a farm for, say, 50 million rand (that’s about USD $3 million). And in order to do so, you took out a hefty loan from a South African bank.

Now the government comes along and steals your property.

Are you seriously going to keep paying the loan?

Of course not.

This means that the banks are going to be stuck with massive defaults and bad debts, leading to a wave of bank failures.

So in their crusade to bring Social Justice to South Africa, the government is effectively engineering a banking crisis in their country.

This is criminally stupid behavior that puts South Africa on the same path that Zimbabwe followed in the late 1990s.

And now, as Bloomberg reports, South Africa is planning a 59 billion-rand ($4.2 billion) bailout for state-owned companies including the post office, arms manufacturer Denel SOC Ltd. and South African Airways, the Johannesburg-based Sunday Times reported, citing unidentified government officials.

The contagion from Turkey's collapse is not helping as broad-based EM liquidations are dragging everything lower…

As the Emerging Market FX rout continues…

And offshore Yuan is sliding…

We look forward to the Brazilian Real opening…

???? ???? Dude! > #Brazil's Rodrigo Koxa sets record for biggest wave ever surfed #SundayMorning #surfer pic.twitter.com/5FA5rt31S7

— Evan Kirstel (@evankirstel) August 12, 2018





The Philippines Fight On Inflation: Sell Dirtier, Cheaper Oil

Courtesy of ZeroHedge. View original post here.

Authored by Tsvetana Paraskova via Oilprice.com,

The Philippines is trying to curb its inflation running at five-year highs by ordering the companies to make available for sale cheaper but dirtier fuel, backtracking on a ban on such dirty fuels introduced two years ago and aimed at improving air quality.

The Philippines’ Energy Secretary Alfonso Cusi is taking steps to address slowing economic growth and high commodity prices by telling companies to sell low-cost fuels, and the government-owned Philippine National Oil Company-Exploration Corporation (PNOC-EC) to import low-priced fuel, the energy ministry says.

“For the purpose of reducing the impact of rising petroleum prices in the world market, all industry players are hereby directed to provide at the retail level Euro-II compliant automotive diesel oil as a fuel option for the transport and industrial customers,” says the order.

The Philippines switched to Euro-IV compliant fuels in January 2016, replacing the Euro-II standard, which allowed for much higher sulfur content in diesel.

Euro-IV compliant fuels have sulfur content of 50 parts per million (ppm), compared to 500 ppm for Euro-II fuels.

The energy ministry’s plan, however, now needs to be approved by the environment department.

“We’re studying it right now, giving consideration to their plan to cushion inflation. We’re also looking at the implications for emissions,” Jonas Leones, Undersecretary at the Environment and Natural Resources department, told Reuters on Friday.

On Thursday, the Philippines’s central bank raised again the key interest rate, by 50 basis points to 4 percent—the third such increase this year following rate hikes in May and in June. The August rate decision was widely expected, with all 19 analysts polled by Reuters forecasting a rate hike.

Inflation in the Philippines jumped to an annual rate of 5.7 percent in July, up from 5.2 percent in June.

Economic growth, on the other hand, slowed down to 6.0 percent in the second quarter -nearly a three-year-low and below analyst expectations of 6.7-percent growth.





PetroChina To Impose Temporary Halt On US LNG Purchases

Courtesy of ZeroHedge. View original post here.

Energy traders were on alert when Reuters reported last week that Chinese energy giant, PetroChina – the world's first company to hit (and lose) a $1 trillion market cap long before Apple – was in advanced discussions with Qatar to purchase liquefied natural gas (LNG) under short- and long-term agreements. The superficial explanation was that China needed to secure generous amount of LNG to supply its push to replace coal with cleaner burning natural gas to reduce air pollution. And sure enough, after Beijing started the program last year, China had overtaken South Korea as the world’s second-biggest buyer of LNG.

The deal also made sense from the perspective of the "blockaded" Qatar, the world’s biggest LNG producer, as the isolated Middle Eastern country sought buyers for a planned output expansion.

As it turns out there was another reason for the PetroChina supply diversification: PetroChina may temporarily halt purchases of spot U.S. liquefied natural gas spot cargoes through the winter to avoid potential tariffs as a result of the trade war between the U.S. and China, Bloomberg reported on Sunday according to sources with knowledge of the strategy.

Under the plan, PetroChina would boost buying of spot cargoes from other countries or swap U.S. shipments with other nations in East Asia to avoid paying additional tariffs, said the people, who asked not to be identified because the information isn’t public. PetroChina, a unit of the state-owned China National Petroleum Corp., couldn’t immediately comment when contacted by Bloomberg.

In retaliation to the latest round of tariffs imposed on China by the US, Beijing responded that it was considering a 25% tariff on U.S. LNG, which had been missing from previously targeted goods, direct hitting American gas exporters.

The move comes ahead of the winter heating season when demand and prices typically peak and shows two things: i) that Xi Jinping may be willing to suffer some pain to avoid backing down from U.S. President Donald Trump’s trade dispute, and ii) China is planning on lasting out the trade war for the long haul, suggesting that a near-term solution looks unlikely.

If the tariff is implemented before winter, it would potentially


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Trump Gives Mueller Three Weeks For Sitdown: WSJ

Courtesy of ZeroHedge. View original post here.

President Trump is giving special counsel Robert Mueller until September 1st for a sit-down interview under limited conditions, as an interview beyond that window “could interfere with the midterm elections,” reports the Wall Street Journal, citing Trump attorney Rudy Giuliani. 

Trump’s attorneys sent Mueller’s team a proposal indicating that the president would be willing to take questions on collusion with Russia in the 2016 elections, but not obstruction of justice alleged to have occurred after he took office – as Giuliani has previously said it could become a perjury trap

“We certainly won’t do [an interview] after Sept. 1, because we’re not going to be the ones to interfere with the election,” Mr. Giuliani told the Journal. “Let him [Mr. Mueller] get all the bad publicity and the attacks for that.”

“I think we made the offer we can live with,” said Giuliani. 

Based on a prior meeting with Mr. Mueller, Mr. Giuliani said he had believed prosecutors wanted to wrap up the inquiry by September. “Now they’re not really rushing us,” he said.

Mr. Mueller has made some moves that suggest the inquiry itself could stretch beyond the midterm elections and certainly past the September timeline Mr. Giuliani laid out. -WSJ

Last week the special counsel subpoenaed Roger Credico, comedian and radio host that former Trump adviser Roger Stone claims was a back channel to Wikileaks. Credico has denied this – instead calling himself a “confirming source” due to his contacts with WikiLeaks attorneys. He is set to testify in front of Mueller’s grand jury on September 7. 

According to emails the Journal says it reviewed, Stone told Credico in September 2016 to ”please ask [WikiLeaks founder Julian] Assange” for information that could hurt Hillary Clinton, the Democratic presidential nominee. As we noted on Thursday, if Trump had in fact colluded with Russia, and Russia hacked Clinton’s emails, it seems odd that Stone would need to reach out to Credico in a private email to obtain some of them. 

Mueller’s final report

Giuliani also told the Journal that he’d prefer even a critical final report from Mueller vs. letting it drag on. “I’d take that,” said Rudy. “A negative report gets it over with. We can answer it with, I think, a better report from us, and then we get to wait and see what happens in Congress.”

And…
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Six Baltimore Schools Wouldn’t Have Had Any Sports Teams If New Grading Standards Were Implemented

Courtesy of ZeroHedge. View original post here.

With attendance at Baltimore schools plumbing 13-year lows, and multiple high schools with zero students proficient in math, it is perhaps no surprise that Baltimore schools delayed implementing a grade policy in August that would have prevented six schools from fielding any sports teams.

The Daily Caller's Rob Smishock reports that  Baltimore City Public Schools’ (BCPS) policy would have restricted student athletes who had not achieved at least a 2.0 (“C”) GPA in summer school or the last quarter of the preceding academic year from competing in fall sports like football, reported The Baltimore Sun. The old rule only mandated that students not have failed more than one class per quarter.

“We’re making sure we’re being fair to students who are affected by this and may not have fully understood what was at play before,” BCPS executive director of whole child services and support Sarah Warren told The Sun.

“There’s been situations that have come across my desk where a student may have been living with their grandmother, and their grandmother passes,” BCPS chief academic officer Sean Conley said. “This student may have been an A or B student, but then the grades just plummeted. We want to make sure we’re looking at the student as more of a totality than at just that one moment.”

Over 50 percent of the district’s students live in poverty, many are homeless, and many have to deal with the city’s high crime rate.

“Our kids face so much adversity outside of school,” Benjamin Franklin High School athletic director Richard Jackson told The Baltimore Sun. “I’d hate to have to throw even more adversity when they get to school.”

BCPS did not respond immediately to a request for comment regarding whether miscommunication on the district’s part concerning the new policy prevented students from being ready to meet the 2.0 GPA standard or why BCPS student athletes could not meet that standard when their peers from neighboring districts have had to meet it for years.

The Sun speculated that the delayed implementation and revision would permit 225 more students to take part in BCPS athletics. But…
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Consumer wealth has grown 52% from 2007 to a total of $102 trillion today driven largely by home Equity

By Guest Post. Originally published at ValueWalk.

From Vilas Capital

Please follow the link below to page 20.  Because consumer debt to income ratios are below prior economic troughs, as experienced in the early 1980’s and early 1990’s, and consumer wealth has grown 52% from 2007 (from $67 trillion to $102 trillion, largely driven by home equity), which both indicate the consumer is in great shape financially, I think that it is unlikely that we have a recession anytime soon.


We believe that long term interest rates are far too low.  Buyers of 10 year US Treasuries normally earn 2% more than inflation over very long periods of time (Ibbotson, 100 year data).  Today, the 10 year yield is roughly equal to inflation (2.9% for both, July CPI).  Investors in 30 year Treasuries normally earned 3% more than inflation, which would make the 30 year yield about 6%.  Thus, it appears to us that the investment community believes that a recession is coming, causing a major stock market correction, weak auto sales, housing starts, etc.  Because of this, cyclical stocks are selling at 5-10 times earnings while growth shares are selling at 25, 30, 40 or even 120 times expected earnings estimates, if they have earnings at all.  The only explanation for all of these yields and trading levels is that the market believes the end of the economic expansion is near (Fortune Magazine’s cover story this month is “The End is Near”).  Flows continue to leave equities and find their way into bonds at an extremely rapid pace.
These things don’t usually precede major market corrections.  Elation for stocks (late 1990′s) and housing (mid-2000′s) caused the last two major market corrections.  I may be blind but I don’t see a major bubble in lending conditions or in overall valuations, nor do we see massive flows into stocks indicating a “caution to the wind” sort of an environment.  In fact, we see huge outflows from equities, indicating significant fear.  If there is a bubble, we believe that it is in long term bonds, both governments (at home and around the world) and corporates.  Bonds, data show, is what everyone is buying.
Jamie Dimon of JP Morgan made a comment recently that this expansion has been so slow (2% annually or so) that


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Capital Controls Next? Lira Rebounds After Turkey Bank Regulator Limits FX Swap Operations

Courtesy of ZeroHedge. View original post here.

In the first tentative step toward the final option available for Erdogan to halt the Lira's accelerating collapse – which crashed as low as 7.2362 earlier after the Wellington FX open following the the Turkish president's latest belligerent comments – namely capital controls, the Turkish Banking Regulation and Supervision Agency imposed a limit on the amount of foreign currency and lira swap and swap-like transactions, which are not to exceed 50% of the bank's shareholder equity.

Furthermore, new transactions are halted "until current over-shootings mature."

Whether this tentative move to limit the amount of TRY FX speculation will work remains to be seen: the kneejerk reaction to its announcement helped send the lira from below 7.00 vs the USD to as low as 6.75 in very thin trading conditions, but it has since slumped back toward the 7.00 barrier.

Commenting on the swap-transaction limits, Raymond Lee, Managing Director of Kapstream Capital told Bloomberg TV that they will not be enough, noting that "the first step is taking some regulations through the banks and through swap lines is certainly one measure. I don’t think that’s going to be enough."

Instead, like almost everyone else, Lee said that interest rates will have to increase substantially to stem the lira’s decline: "I think they’re gonna have to raise it by at least 5-10% so you’re taking the interest rate from 17.75% to 20, 25, maybe even 30%. It just depends on how much the lira continues to fall at the moment."

Lee also said that Ankara’s “mismatched” economic priorities are also to blame:

“They’ve promoted short-term growth through too much credit growth at the expense of long term economic stability, so they’re now forced to act.”

As a reminder, some view capital controls by Turkey as a short-term band aid, and potentially the worst possible "solution", as it could be the catalyst that spreads contagion to other emerging markets. On Friday, Robert Marchini, a political strategist at Zenith Asset Management laid out to Bloomberg how he see the "worst case scenario" for Turkey:

Regarding Turkey as a potential 'Black Swan'-level event, I'm skeptical the collapse of the


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Zero Hedge

Americans' Economic Hope Has Collapsed

Courtesy of ZeroHedge. View original post here.

Which came first, the confidence or the stock market rally?

One thing is for sure, the crash in stocks in December has crushed the hope of Americans that their economic future is going to be better under President Trump.

Overall confidence dipped to 58.1 - a 4-month low, but, U.S. consumers this month were the most downbeat on the economy since November 2016, a third straight drop after expectations reached a 16-year high just three months earlier, as the partial government shutdown wears on toward a fourth week.

...



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Kimble Charting Solutions

Triple Breakout Test In Play For S&P 500!

Courtesy of Chris Kimble.

Is the rally of late about to run out of steam or is a major breakout about to take place in the S&P 500? What happens at current prices should go a long way in determining this question.

This chart looks at the equal weight S&P 500 ETF (RSP) on a daily basis over the past 15-months.

The rally from the lows on Christmas Eve has RSP testing the top of a newly formed falling channel while testing the underneath side of the 2018 trading range and its falling 50-day moving average at (1).

At this time RPS is facing a triple resistance test. Wil...



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Phil's Favorites

Brexit deal flops, Theresa May survives -- so what happens now?

 

Brexit deal flops, Theresa May survives -- so what happens now?

Courtesy of Victoria Honeyman, University of Leeds

As the clock ticks down to March 29 2019, all of the political manoeuvring, negotiating, arguing and fighting is coming to a peak. In the two and a half years since the 2016 EU referendum, views on both sides have hardened and agreement still seems as far away as it was the day after the referendum.

With Theresa May’s withdrawal agreement disliked by all sides, and voted down by an unprecedented majority in the House of Commons, everyone is wondering what can and should be done next?

...



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Digital Currencies

Crypto-Bubble: Will Bitcoin Bottom In February Or Has It Already?

Courtesy of Michelle Jones via ValueWalk.com

The new year has been relatively good for the price of bitcoin after a spectacular collapse of the cryptocurrency bubble in 2018. It’s up notably since the middle of December and traded around the psychological level of $4,000... so is this a sign that the crypto market is about to recover?

Of course, it depends on who you ask, but one analyst discovered a pattern which might point to a bottom next month.

A year after the cryptocurrency bubble popped

CCN...



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ValueWalk

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

By ActivistInsight. Originally published at ValueWalk.

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



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Insider Scoop

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

Courtesy of Benzinga.

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

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Chart School

Weekly Market Recap Jan 13, 2019

Courtesy of Blain.

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

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

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



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Members' Corner

Why Trump Can't Learn

 

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

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...



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Biotech

Opening Pandora's Box: Gene editing and its consequences

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

 

Opening Pandora's Box: Gene editing and its consequences

Bacteriophage viruses infecting bacterial cells , Bacterial viruses. from www.shutterstock.com

Courtesy of John Bergeron, McGill University

Today, the scientific community is aghast at the prospect of gene editing to create “designer” humans. Gene editing may be of greater consequence than climate change, or even the consequences of unleashing the energy of the atom.

...

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Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

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

 

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

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

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

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



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

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

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

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

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

Some other great content in this free eBook includes:

 

·       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.

Market Shadows >>