Author Archive for Insider Scoop

10 Stocks To Watch For November 22, 2019

Courtesy of Benzinga

10 Stocks To Watch For November 22, 2019

Some of the stocks that may grab investor focus today are:

  • Wall Street expects Foot Locker, Inc. (NYSE: FL) to report quarterly earnings at $1.08 per share on revenue of $1.94 billion before the opening bell. Foot Locker shares gained 1.5% to $42.10 in after-hours trading.
  • Nordstrom, Inc. (NYSE: JWN) reported better-than-expected earnings for its third quarter. The company also raised the lower end of FY19 EPS guidance. Nordstrom shares climbed 8.4% to $37.20 in the after-hours trading session.
  • Gap Inc (NYSE: GPS) reported stronger-than-expected results for its third quarter on Thursday. The company also reaffirmed FY19 guidance. Gap shares rose 1.7% to $16.50 in the after-hours trading session.
  • Analysts are expecting Buckle Inc (NYSE: BKE) to have earned $0.43 per share on revenue of $219.16 million in the latest quarter. Buckle will release earnings before the markets open. Buckle shares rose 3.1% to $23.00 in after-hours trading.
  • Splunk Inc (NASDAQ: SPLK) reported upbeat results for its third quarter and raised FY20 sales guidance. Splunk shares climbed 5.6% to $133.91 in the after-hours trading session.

Find out what’s going on in today’s market and bring any questions you have to Benzinga’s PreMarket Prep.

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  • Before the opening bell, J M Smucker Co (NYSE: SJM) is projected to report quarterly earnings at $2.13 per share on revenue of $1.97 billion. Smucker shares gained 2% to $106.25 in after-hours trading.
  • Helius Medical Technologies Inc (NASDAQ: HSDT) reported a public offering with no size disclosed. Helius Medical shares fell 11% to $0.53 in the after-hours trading session.
  • Analysts expect Hibbett Sports, Inc. (NASDAQ: HIBB) to report quarterly earnings at $0.15 per share on revenue of $260.75 million before the opening bell. Hibbett Sports shares fell 1.1% to $24.75 in after-hours trading.
  • Ross Stores, Inc. (NASDAQ: ROST) reported upbeat earnings for its third quarter. Ross Stores shares rose 1.1% to $113.00 in the after-hours trading session.
  • Shoe Carnival, Inc. (NASDAQ: SCVL) reported better-than-expected Q3 EPS and sales results. Shoe Carnival shares climbed 9% to $40.50 in the after-hours trading session.

Posted-In: Earnings News Pre-Market Outlook Markets Trading Ideas





4 Energy Stocks Moving In Friday’s Pre-Market Session

Courtesy of Benzinga

Gainers

  • Seadrill, Inc. (NYSE: SDRL) shares surged 6.2% to $1.03 during Friday’s pre-market session. The market cap stands at $176.0 million.
  • Chesapeake Energy, Inc. (NYSE: CHK) stock moved upwards by 2.3% to $0.59. The market value of their outstanding shares is at $2.6 billion. According to the most recent rating by Morgan Stanley, on November 13, the current rating is at Equal-Weight.
  • Halliburton, Inc. (NYSE: HAL) stock rose 0.7% to $21.25. The market value of their outstanding shares is at $16.8 billion. The most recent rating by Deutsche Bank, on November 20, is at Buy, with a price target of $26.00.

Losers

  • TechnipFMC, Inc. (NYSE: FTI) shares fell 0.5% to $19.56 during Friday’s pre-market session. The market cap seems to be at $8.8 billion. The most recent rating by Berenberg, on November 22, is at Hold, with a price target of $22.50.

Posted-In: Energy Stocks Pre-Market MoversNews Movers & Shakers Pre-Market Outlook Markets Movers Trading Ideas General





A Peek Into The Markets: US Stock Futures Edge Lower Ahead Of Economic Reports

Courtesy of Benzinga

A Peek Into The Markets: US Stock Futures Edge Lower Ahead Of Economic Reports

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on initial jobless claims for the latest week and the Philadelphia Fed manufacturing index for November will be released at 8:30 a.m. ET. Data on existing home sales for October and the index of leading economic indicators for October will be released at 10:00 a.m. ET. Cleveland Federal Reserve Bank President Loretta Mester is set to speak in Cleveland, Ohio at 8:30 a.m. ET, while Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Minneapolis, Minnesota at 10:10 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 12 points to 27,788 while the Standard & Poor’s 500 index futures traded fell 1.75 points to 3,107.25. Futures for the Nasdaq 100 index fell 7.75 points to 8,284.00.

Oil prices traded lower as Brent crude futures fell 0.3% to trade at $62.20 per barrel, while US WTI crude futures fell 0.3% to trade at $56.86 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.4%, STOXX Europe 600 Index declining 0.4% and German DAX 30 index dropping 0.2%. The UK’s FTSE index was trading lower by 0.5%, while French CAC 40 Index fell 0.3%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.48%, Hong Kong’s Hang Seng Index dropped 1.57%, China’s Shanghai Composite Index fell 0.25% and India’s BSE Sensex fell 0.19%.

Broker Recommendation

Analysts at UBS downgraded Applied Materials, Inc. (NASDAQ: AMAT) from Neutral to Sell and lowered the price target from $49 to $48.

Applied Materials shares fell 3.1% to $57.80 in pre-market trading.

Breaking News

  • La-Z-Boy Incorporated (NYSE: LZB) reported weaker-than-expected results for its second quarter.
  • SunPower Corporation (NASDAQ: SPWR) priced its 22 million share public offering of common stock at $7 per share.
  • Cubic Corporation (NYSE: CUB) reported downbeat earnings for its fourth quarter and issued weak FY20 earnings forecast.
  • L Brands Inc (NYSE: LB) reported in-line earnings for its third quarter and issued strong Q4 outlook.

Posted-In: A Peek Into The MarketsEarnings News Eurozone Futures Global Pre-Market Outlook Markets





PayPal Will Buy Honey Science For $4B

Courtesy of Benzinga

PayPal Will Buy Honey Science For $4B

PayPal Holdings Inc. (NASDAQ: PYPL) is acquiring Honey Science Corp for $4 billion.

Honey Science Corp was founded in 2012 and is headquartered in Los Angeles. Honey helps people automatically find online coupons and discounts while they shop online.

See Also: Paypal CEO Talks About Leaving Facebook’s Libra, Blockchain, And Owning Bitcoin

Perella Weinberg Partners LP was the financial adviser to PayPal, and Skadden, Arps, Slate, Meagher & Flom LLP was its legal adviser.

PayPal shares were down 1.14% at $102.90 at the time of publication. The stock has a 52-week range between $121.48 and $75.47.

Posted-In: Cryptocurrency M&A News Markets Media





3 Industrials Stocks Moving In Thursday’s Pre-Market Session

Courtesy of Benzinga

Gainers

  • Nordic American Tankers, Inc. (NYSE: NAT) shares rose 1.1% to $3.68 during Thursday’s pre-market session. The market value of their outstanding shares is at $306.6 million. The most recent rating by Evercore ISI Group, on October 18, is at In-Line, with a price target of $4.00.
  • Plug Power, Inc. (NASDAQ: PLUG) shares rose 0.9% to $3.51. The market cap stands at $632.6 million. According to the most recent rating by Roth Capital, on November 11, the current rating is at Buy.

Losers

  • ABB, Inc. (NYSE: ABB) shares plummeted 0.3% to $21.70 during Thursday’s pre-market session.

Posted-In: Industrials Stocks Pre-Market MoversNews Movers & Shakers Pre-Market Outlook Markets Movers Trading Ideas General





4 Energy Stocks Moving In Thursday’s Pre-Market Session

Courtesy of Benzinga

Gainers

  • Tenaris, Inc. (NYSE: TS) stock increased by 0.7% to $21.55 during Thursday’s pre-market session. The most recent rating by Morgan Stanley, on October 08, is at Overweight, with a price target of $29.00.

Losers

  • Seadrill, Inc. (NYSE: SDRL) stock decreased by 1.6% to $1.20 during Thursday’s pre-market session. The market cap stands at $176.0 million.
  • BP, Inc. (NYSE: BP) shares decreased by 0.3% to $38.30. According to the most recent rating by Argus Research, on October 31, the current rating is at Hold.
  • Total, Inc. (NYSE: TOT) shares decreased by 0.3% to $53.68.

Posted-In: Energy Stocks Pre-Market MoversNews Movers & Shakers Pre-Market Outlook Markets Movers Trading Ideas General





Wall Street Analysts Love Schwab’s Pursuit Of TD Ameritrade

Courtesy of Benzinga

Wall Street Analysts Love Schwab's Pursuit Of TD Ameritrade

TD Ameritrade Holding Corp. (NASDAQ: AMTD) shares jumped 24% on Thursday and Charles Schwab Corporation (NYSE: SCHW) shares gained 11% on reports that a merger between the two online brokers could be imminent.

Fox Business reported Schwab wants to buy TD Ameritrade for $26 billion. A combination of the two brokers would create a company with more than $5 trillion in combined assets.

Analysts and investors have emphasized the need for brokers to scale up their businesses after a pricing war resulted in most major online brokers eliminating standard stocks and ETF trading commissions earlier this year.

Several analysts have weighed in on the deal.

Voices From The Street Talk Schwab + TD Ameritrade

JMP Securities analyst Devin Ryan told CNBC the commission cuts are likely the driving force behind the deal.

“If you’re Schwab and you that commissions are going to zero, you don’t want to make a move here and pay for those revenues when they’re still in the model. Now that we’re at zero, they’ve come out of the Ameritrade model, they’ve come out of Schwab’s model, and I think there’s going to be a lot of synergies here,” Ryan said.

Wells Fargo analyst Christopher Harris said TD Ameritrade’s relationship with TD Bank could cause some complications during the merger process.

“We would suspect TD Bank would ultimately dissolve its banking agreement with AMTD, which is up for renewal in 2021,” Harris wrote in a note. He said eliminating the TD Bank agreement would help Schwab better monetize TD Ameritrade customers’ cash.

Bank of America analyst Michael Carrier said E*TRADE Financial Corp (NASDAQ: ETFC), which was down 5.3% in early trading, will now feel the heat to respond with its own deal.

“Over time, if firms are left out, it could create some pressure on those stocks, and as the distribution platforms become larger, it could also create a bit more pressure for the asset management industry,” Carrier wrote.

He said the TD Bank relationship could complicate the merger from a regulatory standpoint, but the merger could also create some alternative banking product opportunities for Schwab in the longer term.


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77 Biggest Movers From Yesterday

Courtesy of Benzinga

Gainers

  • Myovant Sciences Ltd (NYSE: MYOV) shares jumped 113.2% to close at $12.92 on Tuesday after the company announced that its Phase 3 HERO study of once-daily, oral relugolix met its primary endpoint and all six key secondary endpoints in men with advanced prostate cancer.
  • SAExploration Holdings, Inc. (NASDAQ: SAEX) shares gained 80.9% to close at $2.75 after the company late Monday reported a combined $130 million of new projects in Alaska, Canada and the Middle East.
  • Athenex, Inc. (NASDAQ: ATNX) surged 35.7% to close at $15.52.
  • Karuna Therapeutics, Inc. (NASDAQ: KRTX) rose 29.2% to close at $123.99, continuing rally from Monday when the stock closed up 442%. The move higher today comes despite news of a 2.6 million share common stock offering announced yesterday after the close.
  • Cabaletta Bio, Inc. (NASDAQ: CABA) climbed 28.4% to close at $17.71.
  • AudioEye, Inc. (NASDAQ: AEYE) surged 20.5% to close at $6.00.
  • Celyad SA (NASDAQ: CYAD) gained 20.1% to close at $11.00.
  • The Medicines Company (NASDAQ: MDCO) rose 19.7% to close at $70.21 following reports Novartis is considering making an offer to acquire the company.
  • CRISPR Therapeutics AG (NASDAQ: CRSP) rose 17% to close at $68.46 after the company focused on developing gene therapies using its proprietary CRISPR/Cas9 platform said CTX001, a gene-editing therapy it’s co-developing with Vertex Pharmaceuticals, produced positive results in human trials.
  • Magenta Therapeutics, Inc. (NASDAQ: MGTA) climbed 15.8% to close at $10.50.
  • NeuroMetrix, Inc. (NASDAQ: NURO) gained 15.7% to close at $3.47.
  • Scholar Rock Holding Corporation (NASDAQ: SRRK) jumped 14.6% to close at $8.25 after reporting preliminary data from TOPAZ Phase 2 trial of SRK-015 in spinal muscular atrophy.
  • Calithera Biosciences, Inc. (NASDAQ: CALA) rose 14.2% to close at $3.86. H.C. Wainwright initiated coverage on Calithera Biosciences with a Buy rating and a $7 price target.
  • 58.com Inc (NYSE: WUBA) rose 13.8% to close at $57.20 after reporting a third quarter earnings beat.
  • Prevail Therapeutics Inc. (NASDAQ: PRVL) gained 13.3% to close at $12.48.
  • Document Security Systems, Inc. (NYSE: DSS) rose 13.1% to close at $0.3299 after the company, along with Luminescence Sun Chemical Security, announced the launch of their new Augmented Reality


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GM Sues Fiat Chrysler, Alleges Racketeering And Corruption In UAW Negotiations

Courtesy of Benzinga

GM Sues Fiat Chrysler, Alleges Racketeering And Corruption In UAW Negotiations

General Motors Company (NYSE: GM) is suing rival Fiat Chrysler Automobiles NV (NYSE: FCAU), alleging Fiat executives bribed union officials to gain an advantage over GM in how its contracts were structured.

The alleged corruption has also been the focus of a federal criminal probe into Fiat Chrysler and the United Auto Workers.

What To Know About The GM-FCA Accusations

Three former FCA executives named as defendants in the racketeering lawsuit filed by GM have already pleaded guilty in the federal criminal case, which has embroiled Fiat and the UAW.

Fiat Chrysler’s stock was down sharply in afternoon trading.

The lawsuit filed Wednesday in U.S. District Court in Detroit alleges Fiat Chrysler corrupted the collective bargaining process between the UAW and FCA during talks in 2015 and earlier.

GM alleges Fiat Chrysler was able to secure lower wages than GM and concessions on the use of temporary workers that favored FCA because of the corruption.

The lawsuit alleges Fiat Chrysler was the “clear sponsor” of millions of dollars paid in bribes intended “to obtain benefits, concessions, and advantages in the negotiation, implementation, and administration of labor agreements over time.”

FCA Responds

In a statement sent by email to Benzinga, a Fiat spokesperson said the lawsuit was without merit and appears intended to disrupt a proposed merger with Peugeot SA (OTC: PUGOY) parent Groupe PSA, as well as ongoing negotiations with the UAW.

“We are astonished by this filing, both its content and its timing,” the FCA statement said. “We intend to vigorously defend against this meritless lawsuit and pursue all legal remedies in response to it.”

GM also alleges former FCA CEO Sergio Marchionne was the driving force behind the alleged wrongdoing, though Marchionne died last year.

“We have no present intent to pursue the UAW,” GM General Counsel Craig Glidden told The Detroit Free Press. “Our focus is on FCA. We believe the responsibility firmly rests on the orchestrater of the wrongdoing … and we plan to hold FCA responsible.”

GM hasn’t named a dollar amount it’s seeking in the suit. Glidden told the Free Press the amount would be “substantial.”

Fiat Chrysler shares were down 4.11% to $14.95 at publication time. GM shares were


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Wells Fargo Downgrades Berry Petroleum On Heightened Regulatory Risk

Courtesy of Benzinga

Wells Fargo Downgrades Berry Petroleum On Heightened Regulatory Risk

The initiatives announced Tuesday by California’s Department of Conservation severely cloud Berry Petroleum Corp’s (NASDAQ: BRY) ability to budget and execute a stable operational plan going forward, according to Wells Fargo.

The Analyst

Wells Fargo’s Gordon Douthat downgraded Berry Petroleum from Outperform to Market Perform, lowering the price target from $13 to $9.

The Thesis

Berry Petroleum now faces heightened risk to future production and cash flow generation potential, Douthat said in the downgrade note.

He mentioned that the California Division of Oil, Gas, and Geothermal Resources had made an unexpected announcement, among which the most pertinent for Berry Petroleum is the placing of a moratorium on high pressure steam injection operations.

The company uses these at its thermal diatomite development and these operations span 27% of Berry Petroleum’s future tier 1 locations and 36% of the total drilling locations in California, the analyst noted.

The announcement has cast greater uncertainty over the company’s production, capital expenditure and EBITDAX (Earnings before interest, taxes, depreciation, amortization and exploration expenses) in 2020, Douthat said, while reducing these estimates by 24%, 20% and 25%, respectively.

He added that the new initiatives do not seem to pertain to low pressure steam injection operations at Berry Petroleum’s thermal sandstone operations.

Price Action

Shares of Berry Petroleum had plummeted more than 19% to $7.19 at the time of publishing on Wednesday.

Posted-In: Gordon Douthat Wells FargoAnalyst Color Downgrades Price Target Analyst Ratings





 
 
 

Phil's Favorites

E-scooters, bikes and urban mobility: lessons from the streets of Paris

 

E-scooters, bikes and urban mobility: lessons from the streets of Paris

Rue des Tournelles, Paris, November 5, 2019. Four Voi scooters wait hopefully for potential clients, with a Lime and Dott sprawling nearby. Behind them, a Velib’ rider has made his choice. Leighton Kille/The Conversation France , CC BY

Courtesy of Tiago Ratinho, IÉSEG School of Management

Mobility is a crucial challenge for global cities in the 21st century. The growing impact and ...



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Zero Hedge

Victoria's Secret Caves To SJW Critics, Cancels Fashion Show

Courtesy of ZeroHedge View original post here.

To all of those pro-inclusivity activists who accused Victoria's Secret of being the paragon of "outdated" sensibilities when it comes to female beauty, congratulations: You won.

The New York Times reports that the lingerie company's annual fashion show has been cancelled as the brand struggles with its longtime CEO's association with Jeffrey Epstein, the convicted pedophile who allegedly killed himself (or was murdered) in his prison cell in ...



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Insider Scoop

4 Energy Stocks Moving In Friday's Pre-Market Session

Courtesy of Benzinga

Gainers
  • Seadrill, Inc. (NYSE: SDRL) shares surged 6.2% to $1.03 during Friday's pre-market session. The market cap stands at $176.0 million.
  • Chesapeake Energy, Inc. (NYSE: CHK) stock moved upwards by 2.3% to $0.59. The market value of their outstanding shares is at $2.6 billion. According to the most recent rating by Morgan Stanley, on November 13, the current rating is at Equal-Weight.
  • Halliburton, Inc. (NYSE: HAL) stock rose 0.7% to $21.25. The market value of their outstand...


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Digital Currencies

Bitcoin Busts Below $8,000 To One-Month Lows

Courtesy of ZeroHedge View original post here.

Another sea of red across cryptos this morning after tumbling in early European trading (it's been an ugly 7 days as the image below shows)...

Source: Coin360

Bitcoin Cash is leading the decline on the week along with Litecoin...

Source: Bloomberg

But Bictoin's psychological plunge to a $7k handle is most notable...

Source: Bloomberg

...



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Kimble Charting Solutions

Junk Bonds About To Send Stocks A Bearish Message?

Courtesy of Chris Kimble

Are junk bonds about to send stocks an important message? It looks like it from this chart!

Junk Bond ETF (JNK) has created a series of lower highs and lower lows over the past couple of years, inside of falling channel (1). When it broke support in early 2018 at (2), stocks struggled to make much upward progress for the next few months.

The rally off support last year saw JNK hit falling resistance a few months ago and some softness has set in. The small decline of late has it testing a series of higher lows at (3).

What JNK does at (3), looks to sen...



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Lee's Free Thinking

NY Department of Welfare Announces Increased Subsidies for Primary Dealers, Thank God!

 

NY Department of Welfare Announces Increased Subsidies for Primary Dealers, Thank God!

Courtesy of , Wall Street Examiner

Here’s today’s press release (11/14/19) from the NY Fed verbatim. They’ve announced that they will be making special holiday welfare payments to the Primary Dealers this Christmas season. I have highlighted the relevant text.

The Open Market Trading Desk (the Desk) at the Federal Reserve Bank of New York has released the schedule of repurchase agreement (repo)...



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The Technical Traders

VIX Warns Of Imminent Market Correction

Courtesy of Technical Traders

The VIX is warning that a market peak may be setting up in the global markets and that investors should be cautious of the extremely low price in the VIX. These extremely low prices in the VIX are typically followed by some type of increased volatility in the markets.

The US Federal Reserve continues to push an easy money policy and has recently begun acquiring more dept allowing a deeper move towards a Quantitative Easing stance. This move, along with investor confidence in the US markets, has prompted early warning signs that the market has reached near extreme levels/peaks. 

Vix Value Drops Before Monthly Expiration

When the VIX falls to levels below 12~13, this typically v...



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Biotech

Why telling people with diabetes to use Walmart insulin can be dangerous advice

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

 

Why telling people with diabetes to use Walmart insulin can be dangerous advice

A vial of insulin. Prices for the drug, crucial for those with diabetes, have soared in recent years. Oleksandr Nagaiets/Shutterstock.com

Courtesy of Jeffrey Bennett, Vanderbilt University

About 7.4 million people ...



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Chart School

Dow Jones cycle update and are we there yet?

Courtesy of Read the Ticker

Today the Dow and the SP500 are making new all time highs. However all long and strong bull markets end on a new all time high. Today no one knows how many new all time highs are to go, maybe 1 or 100+ more to go, who knows! So are we there yet?

readtheticker.com combine market tools from Richard Wyckoff, Jim Hurst and William Gann to understand and forecast price action. In concept terms (in order), demand and supply, market cycles, and time to price analysis. 

Cycle are excellent to understand the wider picture, after all markets do not move in a straight line and bear markets do follow bull markets. 



CHART 1: The Dow Jones Industrial average with the 900 period cycle.

A) Red Cycle:...

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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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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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:

 

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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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