Archive for 2019

Weekly Market Recap Mar 24, 2019

Courtesy of Blain.

It was looking like another week of Federal Reserve Kool Aid and crushing bears .. until Friday.  On the back of bad economic news out Europe, the yield curve inverted on the 3 month vs 10 year bond – before you fall asleep to that news, it is a quite important indicator for the economy (not necessarily the stock market… yet).   More on that in a bit.  As you can see the action in the bond market Friday was quite severe so it will be interesting to see the move in the coming few days.

As for the Federal Reserve:

The Federal Reserve signaled no more increase in interest rates this year and just one in 2020, according to its new ‘dot plot,’ and the bank said it would end its balance-sheet runoff by September. Before a marked shift in strategy in January, the central bank had previously indicated it would raise rates twice this year and once more in 2020.  The central bank also cut its gross domestic product estimate for this year to 2.1% from 2.3% and trimmed its PCE inflation forecast to 1.8% from 1.9%, leaving its core PCE estimate at 2%.

During the press conference following the decision, Chairman Jerome Powell said patience means “no need to rush to judgment” and the new policy on the balance sheet will assure a “smooth” and “predictable” process.

“The markets saw the FOMC statement as being dovish — focusing on the dot plot and its reduction of projected interest-rate increases,” said Chris Gaffney, president of world markets at TIAA Bank.

About that yield curve inversion – an excellent article from Marketwatch:

The 3-month/10-year version that is the most reliable signal of future recession, according to researchers at the San Francisco Fed. Inversions of that spread have preceded each of the past seven recessions, including the 2007-2009 contraction, according to the Cleveland Fed. They say it’s offered only two false positives — an inversion in late 1966 and a “very


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Cord Cutting Apocalypse: More Households Now Subscribe To Streaming TV Than Cable

Courtesy of ZeroHedge. View original post here.

American consumers are plagued with First World problems. There appear to be too many online streaming platforms for consumption. The average consumer now subscribes to three streaming video services, and for the first time, more households are subscribing to streaming TV than to traditional cable, according to a new report from Deloitte.

Deloitte’s 13th annual Digital media trends survey, conducted by Deloitte’s Technology department, discovered that 69% of households have at least one streaming video subscription, compared with 65% who have a cable subscription. The findings confirm that cord-cutting continues to accelerate, as households seek Netflix, Hulu and Amazon Prime as a cheaper alternative to cable and satellite packages.

The survey found that many of the respondents subscribed to three streaming services and that binge-watching occurred on the regular, with 91% of millennials saying they have "Netflix and chilled."

Deloitte said millions of consumers are gravitating toward streaming video services because of their high-quality, original content. About 57% of consumers have subscribed to streaming video services for the original content. The figure is much higher for millennials – coming in at 71%.

However, consumers experienced frustration with the abundance of content, 47% said they need more than two subscriptions to watch all of their shows, and 57% said shows that they have watched mysterious disappeared from streaming services.

"With more than 300 over the top video options in the U.S., coupled with multiple subscriptions and payments to track and justify, consumers may be entering a time of 'subscription fatigue,'" said Kevin Westcott, vice chairman and U.S. telecom and media and entertainment leader, Deloitte LLP. "As media companies and content owners wrestle with how to retain and grow their subscriber base, they should not only continue to strengthen their content libraries, quality, distribution and value, but also keep a close eye on consumer frustrations, including advertising overload and data privacy concerns."

Despite the acceleration of cord-cutting, the survey also revealed that some consumers continue to pay for streaming and cable TV, with 43% of consumers having subscriptions to both.

Deloitte's 2018 survey found that streaming video adoption breached the halfway mark in 2017 with 55% of consumers subscribing to streaming services.

The trend is evident, cord-cutting is expected to explode this year through 2021. Traditional TV is doomed. 





Cancer-Causing Chemical Over Houston Channel Sends Hundreds To Hospital

Courtesy of ZeroHedge. View original post here.

Bloomberg's update in the wake of the week-long Deer Park oil processing plant fire (now extinguished) and chemical spill holds nothing back, but underscores the seriousness of the situation after both city and Intercontinental Terminals Co. (ITC) previously sought to reassure residents days ago that "everything's fine".

Prior photo showing a black plume that had stretched for 20 miles from the petrochemical fire at the Intercontinental Terminals Company, Monday, March 18, 2019, in Deer Park, Texas. via AP

 

For many days running the nation was captivated by dramatic images of flames and smoke plumes hovering above the Houston area from the Deer Park petrochemical fire, which had initially triggered an emergency shelter-in-place order from city authorities when it began last Sunday March 17; and while firefighters had extinguished the raging inferno on Thursday, multiple chemical tanks reignited again late Friday, complicating efforts to clean up a massive chemical spill into the nearby Houston Ship Channel.

With the fire now extinguished, Houston and Harris County area residents, especially those closest to Deer Park, are now concerned over dangerous levels of exposure to the chemical tanks which had burned for days: benzene, xylene, naphtha, toluene, and pyrolysis gasoline, known as Pygas, along with other oil processing related chemicals.

According to prior local reports

Officials said the components are in gas blend stocks used in the production of finished gasoline and base oil used for machine lubrication.

NAPHTHA can cause irritation to eyes and the respiratory system. It affects the central nervous system and is harmful and even fatal if it is swallowed.

XYLENE may also be fatal if it is swallowed and enters the airway. It can cause skin irritation.

City and environmental officials have throughout the ordeal assured residents that Harris County Pollution Control was conducing air quality monitoring tests of the area, but still cautioned residents to stay indoors throughout the ordeal if at all possible.

Days into the fire city officials had released a statement alerting the public to elevated levels of benzene, described as "a colorless, sweet-smelling chemical that can be derived…
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Hedge Fund CIO: This Is Where The Next “Equity Panic” Will Arise

Courtesy of ZeroHedge. View original post here.

Submitted by Eric Peters, CIO of One River Asset Management

“When we can’t come up with a clear catalyst, that’s when we know whatever arises will (1) be unexpected, and (2) cause a greater reaction,” said the endowment. They were discussing what worried them, why they continued de-risking, exiting short volatility strategies, and adding long volatility.

“The inability to point to a catalyst means that the asset class (vol) is cheaper and becoming a better risk/reward opportunity than at other times. Since we have other strategies that win to the upside (equity, biotech, activism, etc) we’re happy to pick up vol when it’s cheapest (i.e. right now). It’s not that complicated.”

Interest rate and foreign-exchange implied volatility has plunged to levels that preceded the 1970s turbulence. Global stock market volatility is near historic lows as well. “I think the equity decline may be precipitated by an interest rate or foreign-exchange event causing a loss of confidence in equity markets.

Perhaps interest rates shifting higher/lower does it, or an EU crisis or something with the Japanese yen or Chinese renminbi.” Aggressive volatility selling persists, driven by investors who need to earn incremental returns, emboldened by the view that with all global central banks in a dovish mood there’s little risk of disruption.

Vols are at all-time lows precisely because the risks are no longer top of mind. Wouldn’t surprise us if an issue in rates/FX happened first, causing equity weakness, followed by equity panic that crescendos to levels where the put options that people have sold really kick in. You would want to buy into that capitulation of course, because we’d get a quick 20% bounce (from down 40%),” they said.

“Don’t know about the direction of the second 20% after that rebound…would depend on what caused the rate/FX issue initially. The point is, everyone is focused on equity risk, but paying no attention to rates/FX, which means that’s probably where the next issue will arise.”

Overall

“The 737 Max 8 can be flown safely without these two gauges,” said the pilot union spokesman, “But there’s a broader margin of safety if you’ve got them.” Boeing charges a little extra for a safety feature that alerts pilots to faulty information…
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Horrifying Passenger Video Shows Furniture Crashing Into Walls Aboard Stranded Viking Cruise Ship

Courtesy of ZeroHedge. View original post here.

What was supposed to be a relaxing Nordic cruise turned into a seafaring nightmare for 1,373 Viking Sky passengers on Saturday when  their ship became stranded off Norway's western coast during a spell of particularly bad weather.

Shocking footage from the ship, which swiftly went viral on social media, showed unmoored furnishings crashing into walls and nearly colliding with terrified passengers. Eventually, 17 passengers were hospitalized with related injuries.

After the crew radioed for help, deciding to drop anchor to prevent the ship from being pushed onto nearby rocks, more than 400 passengers were eventually rescued by the Norwegian coast guard in a painstaking rescue operation that involved five helicopters working throughout the night into Sunday.

Fortunately, the quick-thinking crew managed to save the vessel from a possible shipwreck. Coast guard official Emil Heggelund estimated that the ship was only 325 feet from striking rocks under the water, and 2,950 feet from shore when three of its four engines failed in an area off the Norwegian coast known for rough conditions, according to the AP.

Cruise

Though tensions on the boat reportedly ran high into the night, once the first hundred or so passengers had been airlifted off the boat, the mood began to relax, one passenger told the AP.

Passenger Alexus Sheppard told The Associated Press in a message sent from the Viking Sky that people with injuries or disabilities were winched off the cruise ship first. The atmosphere onboard grew calmer after the rescue operation’s first dramatic hours, Sheppard said.

"It was frightening at first. And when the general alarm sounded it became VERY real," she wrote.

"We saw two people taken off by stretcher," another passenger, Dereck Brown, told Norwegian newspaper Romsdal Budstikke. "People were alarmed. Many were frightened but they were calm."

Eighteen hours after stalling out, the ship's crew managed to restart the failing motors. Two tugboats eventually led it back to port. The cruise, which included mostly Americans, Brits, Aussies and Kiwis, was scheduled to dock at a handful of Norwegian towns before sailing to its destination in the UK.

In video that circulated on social media,…
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“We’re Not In Beijing” – Italian Newspaper Slams Chinese Embassy For Trying To Intimidate Reporter

Courtesy of ZeroHedge. View original post here.

Now that Italy has consummated its new long-term economic relationship with China, observers across the west are on the lookout for signs that China's "neocolonial project" won't focus simply on ports and other infrastructure projects – but might involve a bit of cultural imperialism as well.

In Italy, apprehensiveness about joining "One Belt, One Road" hasn't been limited to the political opposition – even Deputy PM Matteo Salvini has expressed some reservations. But nowhere has the opposition been as fierce as certain corners of the Italian media, particularly the conservative Il Foglio newspaper, which has a long record of Sino skepticism and distrust.

Still, readers were probably shocked to read a piece published over the weekend recounting a particularly inappropriate encounter between one of the paper's Asia correspondents, Giulia Pompili, and a spokesman for Beijing's embassy in Rome.

In an editorial titled "Non Siamo a Pechino" – "We're Not In Beijing" – the paper told the story of a brief but ominous encounter between Pompili and Chinese embassy spokesman Yang Han. Shortly before the beginning of Friday's ceremony with President Xi and Italian President Sergio Mattarella, Pompili had arrived with other members of the press corps at the Quirinal Palace in Rome, an official residence of the Italian president, where the press conference was to be held.

After a member of the Quirinal's staff introduced Pompili, Yang approached her for an encounter that the paper described as "not exactly friendly." In front of other journalists, Yang demanded that Pompili stop writing critical pieces about China.

When Pompili, who said she had never met Yang before Friday, replied that it was her job to write critically about China, Yang offered a sinister response: "Anyway, I know who you are."

In the editorial, the paper acknowledged that it had a very clear position on China's operations in the west…
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Turkey Blames JPMorgan For Lira Crash, Launches Probe; Erdogan Threatens “Manipulators”

Courtesy of ZeroHedge. View original post here.

On Friday, when the Turkish lira suddenly cracked, and suffered its biggest one-day drop since last summer's crisis as public attention turned to the sudden plunge in the nation's reserves and the bank's unexpected 150bps equivalent tightening in policy, JPMorgan FX strategists poured gasoline on the fire when – as the lira was sliding – they published a note recommending a 5.90 target on the USDTRY.

As JPM analysts Anezka Christovova and Saad Siddiqui wrote on Friday morning recommending a lira short, Turkish authorities would likely "attach less significance to lira stability and reduce FX reserve support" for the currency following March 31 elections, resulting in further lira weakness, adding that the pace at which Turkey’s burning net foreign reserves is “unsustainable” and therefore “FX reserve support will abate post local elections on March 31, which could lead to USDTRY trading substantially higher."

Despite (or perhaps due to) our sarcastic comment….

…. JPM's note only added impetus to the selloff, and by the end of the day, the TRY has crashed almost 400 pips, closing 5.5% lower on the day as it almost hit JPM's target, and sparking fresh panic that Turkey's economy is once again on the edge.

Predictably, it also sparked Erdoga's fury, with Turkey’s banking and capital markets regulators opening separate investigations into JPMorgan Chase the bank's recommendation to short the lira.

Desperate to create a scapegoat for the sudden plunge in the currency, which as it turned out had since last summer been artificially propped up by local banks (while the central bank pretended not to intervene), Turkey delighted at the opportunity to blame the plunge in the lira, which is only just now restarting, on JPMorgan. As a result, the banking regulator BRSA said the JPMorgan analysts’ note had “misguiding and manipulative” content that resulted in volatility in markets and hurt the reputation of Turkish banks, according to state news agency Anadolu. The Capital Markets Board began its own investigation on similar grounds, according to a statement on…
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What The Fed Really Said

Courtesy of ZeroHedge. View original post here.

Authored by Lance Roberts via RealInvestmentAdvice.com,

The volatility in the markets continued this week with another big whipsaw for investors following the Fed meeting. On Thursday, the S&P soared after the Fed announced they would not be hiking rates this year and ending their balance sheet reduction by September. On Friday, the rally was reversed as the realization of what the Fed actually said sank into the markets.

In just the course of 4-weeks, the market has swung from overbought, to oversold, back to overbought and then begin correcting back to oversold on Friday. I am exhausted just writing about it. 

These swings make portfolio management very difficult. While the markets have been fairly well contained, allowing us to “hold” our long-equity exposure currently, the market continues to show signs of exhaustion” in the recent price action. As I wrote at the beginning of the month:

“The markets are not immune to the ‘laws of physics.’ While the price action is indeed bullish in the short-term, the shorter-term moving averages act like ‘gravity’ on prices. Given the current extension and deviation above the 50-dma the odds of a pullback, before a continued advance, is a high probability.

As shown in the table below, it is very likely that if you sold everything today, and went to cash, that you would miss little over the balance of the year. In other words, the bulk of the gains have likely been made for the year.”

For the month of March, the S&P 500 is up 0.61%.

Bonds, as measured by the Core U.S. Aggregate Bond index is up 1.72%

Let me say something here that you should at LEAST consider.

“Given current valuations on stocks, it is highly probable that over the next decade bonds will continue to substantially outperform stocks to a large degree.” 

Now, I am not saying that you should “sell everything” and hide in cash.

What I am saying is that managing your equity portion of your portfolio to adjust for relative risk, and…
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Lithuanian Who Scammed Google, Facebook For $120 Million Pleads Guilty

Courtesy of ZeroHedge. View original post here.

A Lithuanian man pleaded guilty on Wednesday to wire fraud, aggravated identity theft and three counts of money laundering after scamming Google and Facebook out of more than $120 million

Between 2013 and 2015, Evaldas Rimasauskas tricked Google and Facebook employees into wiring the funds into a Latvian company he created with an identical name to Asian hardware vendor Quanta Computer Inc. - claiming that the Silicon Valley companies owed the vendor money

Using spoofed emails, Rimasauskas was able to trick the Google and Facebook employees along with the banks they worked with to make and approve payments to bank accounts owned by his Latvian company. 

The scheme defrauded Google out of $23 million and Facebook out of $99 million, according to that order. Prosecutors said Rimasauskas contributed to the scheme by setting up a fake company and a bank account in Latvia. -Reuters

Rimasauskas then shuffled the money to bank accounts in Cyprus, Lithuania, Hungary, Slovakia and Latvia.

He was arrested in March, 2017 and extradited to the Southern District of New York in August 2017.  

The scheme is known as a "business email compromise," in which fraudsters demand money after identifying individuals in key positions who work with foreign suppliers.  

"As Evaldas Rimasauskas admitted today, he devised a blatant scheme to fleece U.S. companies out of over $100 million, and then siphoned those funds to bank accounts around the globe," said Manhattan US Attorney Geoffrey S. Berman. 

According to a Justice Department press release, Rimasauskas "caused forged invoices, contracts, and letters that falsely appeared to have been executed and signed by executives and agents of the Victim Companies, and which bore false corporate stamps embossed with the Victim Companies’ names, to be submitted to banks in support of the large volume of funds that were fraudulently transmitted via wire transfer."

Rimasauskas agreed to forfeit $49,738,559.41 to the United States as part of his plea agreement "representing the amount of proceeds traceable to the offense in Count One of the Indictment that the defendant personally obtained," via wire fraud. 

He could receive a maximum of 30 years in prison if found guilty on all counts. He is scheduled to appear for sentencing on July 24 at 10:00 a.m. before Judge George B. Daniels in the Southern District of New York.





Why Jim Cramer Is Wrong About The Fed And Interest Rates

Courtesy of ZeroHedge. View original post here.

Authored by Jesse Colombo via RealInvestmentAdvice.com,

On Wednesday, the Fed announced that it does not expect to raise interest rates for the rest of this year, which further confirms the complete dovish reversal of the Fed’s position from the fall of last year. The 20% stock market rout and pressure from President Donald Trump are the reason for the Fed’s flip-flop. Many market commentators – including CNBC’s Jim Cramer – cheered the Fed’s dovish shift:

“I thought that Jay was great [Wednesday],” Cramer told “Squawk Box, ” referring to Powell’s news conference at the conclusion of the central bank’s two-day policy meeting. “It’s not easy to start. You make your rookie mistakes, you come back. He’s a great guy. Anyone who knows him knows that he course corrected.”

Throughout the fall of 2018, Cramer was criticizing Fed chairman Jerome Powell’s desire to normalize the Fed’s monetary policy after a decade of ultra-low interest rates and trillions of dollars worth of asset purchases to boost the economy and financial markets (ie., quantitative easing):

“Memo to Powell: keep listening. Be patient. Enjoy the employment gains. Let’s keep the strength going by waiting a little and not being too judgmental about rate hikes like some of your colleagues,” Cramer said.

The “Mad Money ” host reiterated his distaste in some Fed officials’ tendency to stick to traditional metrics when gauging how the economy is doing.

“How can you claim to be data-dependent if you’ve made up your mind before you see the data that you need one or two more rate hikes to get back to normal?” he asked. “Normal is where the data says you should go. Normal is the natural progression of jobs being created without a lot of inflation. Normal is not a percent.”

As I’ve said about President Trump, Jim Cramer is completely naive and misguided about the Fed and interest rates. The Fed’s ultra-loose monetary policies of the past decade have created an artificial economic boom including a dangerous bubble in stocks and other assets (read my explanation in Forbes).

Our economy is completely addicted to monetary stimulus and Trump and Cramer are advocating for the Fed
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Zero Hedge

Trash Wars: Duterte Orders Tons Of Garbage Shipped Back To Canada Or Dumped In Territorial Waters

Courtesy of ZeroHedge. View original post here.

Outspoken Philippines President Rodrigo Duterte has ordered that containers carrying trash from Canada should be shipped back to the country. It is the latest chapter in a disagreement over more than 100 containers of trash that were shipped to the Philippines between 2013 and 2014, illegally, by a Canadian company. 

Canada had previously agreed to take the trash back, but has been slow in making arrangements for its return. Duterte threatened to leave the trash in Canadian waters if Ottawa refuses to take it back, according to Salvador Panelo...



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Phil's Favorites

Animal Spirits: The Absence of Stuff

 

Animal Spirits: The Absence of Stuff

Courtesy of 

Mention Animal Spirits to receive 20% off from YCharts (*New YCharts users only)

Stories Discussed

Best graduation ever

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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 readtheticker.com we believe a combination of Gann Angles, ...

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Insider Scoop

55 Biggest Movers From Yesterday

Courtesy of Benzinga.

Gainers
  • Obalon Therapeutics, Inc. (NASDAQ: OBLN) shares jumped 233.3 percent to close at $1.30 on Wednesday after the company reported expanded data from a large scale commercial use study that was presented at the Digestive Disease Week.
  • Ascent Capital Group, Inc. (NASDAQ: ASCMA) shares jumped 51.4 percent to close at $1.37 after the company announced a restructuring support agreement with Monitronics International.
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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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Biotech

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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ValueWalk

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

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.

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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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