Archive for the ‘Permissions’ Category

Russia’s Lukoil Halts Oil Swaps In Venezuela After U.S. Sanctions

Courtesy of ZeroHedge. View original post here.

Submitted by OilPrice.com

Litasco, the international trading arm of Russia’s second-biggest oil producer Lukoil, stopped its oil swaps deals with Venezuela immediately after the U.S. imposed sanctions on Venezuela’s oil industry and state oil firm PDVSA, Lukoil’s chief executive Vagit Alekperov said at an investment forum in Russia.

Russia, which stands by Nicolas Maduro in the ongoing Venezuelan political crisis, has vowed to defend its interests in Venezuela—including oil interests—within the international law using “all mechanisms available to us.”

Because of Moscow’s support for Maduro, the international community and market analysts are closely watching the relationship of Russian oil companies with Venezuela.  

“Litasco does not work with Venezuela. Before the restrictions were imposed, Litasco had operations to deliver oil products and to sell oil. There were swap operations. Today there are none, since the sanctions were imposed,” Lukoil’s Alekperov said at the Russian Investment Forum in the Black Sea resort of Sochi.

Another Russian oil producer, Gazprom Neft, however, does not see major risks for its oil business in Venezuela, the company’s chief executive officer Alexander Dyukov said at the same event.

Gazprom Neft has not supplied and does not supply oil products to Venezuela needed to dilute the thick heavy Venezuelan oil, Dyukov said, noting that the Latin American country hadn’t approached Gazprom Neft for possible supply of oil products for diluents.  

Under the new wide-ranging U.S. sanctions, Venezuela will not be able to import U.S. naphtha which it has typically used to dilute its heavy crude grades. Analysts expect that a shortage of diluents could accelerate beginning this month the already steadily declining Venezuelan oil production and exports. 

Venezuela’s crude oil production plunged by another 59,000 bpd from December 2018 to stand at just 1.106 million bpd in January 2019, OPEC’s secondary sources figures showed in the cartel’s closely watched Monthly Oil Market Report (MOMR) this week.





Russia Offered To Buy Barclays Stake During Peak Of Financial Crisis

Courtesy of ZeroHedge. View original post here.

During the peak of the financial crisis when UK banking giant Barclays was struggling to avoid taking a U.K. bailout, the Russian government made a formerly unknown approach to the bank. According to a report by Bloomberg, Russia “signaled its intention” to take a 500 million-pound ($641 million) stake in Barclays according to minutes from an October 2008 finance committee meeting that were shown to a jury during a fraud trial of senior bank executives. That trial is ongoing and has been covered by us at length.

Using the involvement of Hans-Joerg Rudloff, a Barclays banker with close ties to Russia, the country was seeking to take a 1.5% stake in the bank. The approach came to light as the bank was trying to close a deal with investors from Abu Dhabi and Qatar in order to avoid a government bailout. Barclays was said to have been “vary wary” about the investment proposal, according to the committee meeting minutes. 

Rudloff was, at the time, chairmain of Barclays Capital, the bank’s investment banking arm. He also served on the Board of Directors of Russian oil conglomerate Rosneft for seven years prior to being re-elected in June 2018. 

The meeting minutes revealed that Barclays had instead proposed paying 120 million pounds in fees to help underwrite financing from Qatar, who is said to have laughed at the suggestion, before demanding 600 million pounds instead. 

The trial of banking executives pertaining to fraud that occurred during the crisis began in early January in a London courthouse. And while it has nothing to do with sales of the toxic mortgage backed securities and subprime loans that nearly brought down the financial system and forced millions of consumers out of their homes, it might be the closest thing to closure that the UK’s Serious Fraud Office can offer.

As we reported in late 2018, four Barclays executives, including former CEO John Varley, are on trial for fraud related to two emergency capital raises undertaken in 2008. To try and stave off nationalization (which would have devastated shareholders and, more importantly, placed the executives’ bonuses at risk) the bank turned to a group of Qatari investors who pumped a total of roughly 12 billion pounds (nearly $16 billion) into the bank.

In exchange for the emergency loans, Barclays wound up paying…
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Two Diverging Worlds: Wealthy Nations Population & Demographic Declines, Poor Nation Growth No Substitute

Courtesy of ZeroHedge. View original post here.

Authored by Chris Hamilton via Econimica blog,

In 2019, the global population is an astonishing 7.7 billion persons (black line, chart below) and in this year alone, earths human population will increase by about 81 million persons (blue and red columns, below).  As the chart below details, the poor nations will add 61 million while the wealthy nations will add 20 million (I’ll detail these terms below).  This article will explain why despite this seemingly gargantuan population size and growth, it is the geographic and demographic distribution of that growth that deems further economic growth implausible (and more realistically ushers in the “Great Decline”) while meanwhile offers great solace for those concerned about environmental and resource depletion issues.

From an annual percentage growth perspective (below), population growth has decelerated for over five decades and this trend is continuing, unabated.  The growth among the wealthy is fast receding and will turn to decline within a few decades while poor nation growth is receding, but far more slowly.  Further deceleration is a near certainty, due to little to no growth among child bearing age populations and ongoing declining fertility rates, world-over.

This article splits the world in two essentially equally sized buckets, the 3.9 billion among the “wealthy nations” versus the 3.8 billion among the “poor nations” (based on UN 2017 World Population Prospects and World Bank 2016 GNI per capita, Atlas method).  The wealthy nations annual per capita incomes range from $80 thousand to $4 thousand…averaging around $16 thousand per capita.  The “poor nations” with annual per capita incomes ranging from $4 thousand to as little as a few hundred dollars…averaging around $1600 per capita, or one tenth that of the wealthy nations.

From an income per capita perspective, each wealthy nation inhabitant has essentially 10 times the purchasing power and consumes 10 times more than each poor nation inhabitant (chart below).

It follows, that from an energy consumption standpoint, the ”wealthy nations” consume over 88% of all energy (503 quadrillion BTU’s) versus the “poor nations” who consume 12% (66 Q BTU’s…data from EIA).  This includes all energy types; oil, coal, renewable, natural gas, nuclear, etc (chart below).

Global Births: Decades of Declining Wealthy Nations Births, Rising Poor Nation Births

Lets begin by reviewing annual births in wealthy nations (blue line, chart below) versus births in poor nations (red line).  Poor nation births first exceeded wealthy nation births in 1976 but births among both groups rose until 1989.  However, in 1989, births among wealthy nations began to cascade…
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The Data Behind Surging NBA Team Valuations

Courtesy of ZeroHedge. View original post here.

Submitted by Visual Capitalist

At the beginning of this decade, the NBA was not on firm footing. More than half of the league’s teams were losing money, and negotiations on a new collective bargaining agreement were looming.

Today, however, the NBA has undeniable momentum, buoyed by hefty broadcast agreements and superstars like LeBron James and Steph Curry. With interest in the NFL flagging in the U.S., professional basketball appears to be seizing the opportunity to win over sports fans and grow the popularity of the league.

This momentum has pushed team valuations to new heights, with the median team now being worth a solid $1.56 billion.

What are the exact valuations of individual franchises in the league, and how are these values derived? Let’s dig into Forbes’ annual NBA Valuations Ranking to learn more.

Breaking down team value

Forbes has broken down the value of an NBA team valuations into four components:

Sport: The revenue shared equally among all teams in the league

Market: City and market size

Arena: Revenues from sources such as attendance and premium seating

Brand: The actual value of the team’s brand

Courtesy of: Visual Capitalist

Every single team in the NBA is now valued at over $1 billion, and all but one team (the Cavaliers) were profitable last year.

For teams like the Knicks and Lakers, it’s easy to see how their huge market size contributes to their sky-high valuations. The former is currently the second-most-valuable sports franchise in America, tied with the New York Yankees.

While the biggest teams are worth more than double the NBA median value, the rising tide appears to be lifting all boats. The median team value has risen steadily and is up nearly 200% since 2014.

Gold Rush

The biggest story in basketball over recent years has been the ascension of the Golden State Warriors.

Making the NBA finals four seasons in a row – and winning three of those match-ups – has had a massive impact on the team’s value, which has shot up 367% over the last five years. As the team moves to the brand new Chase Center next season, Golden State may even have a shot at surpassing the Knicks or Lakers in overall valuation.

Here are the top five gainers over…
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$166 Billion In Student Debt Is Now Officially Delinquent

Courtesy of ZeroHedge. View original post here.

According to the Federal Reserve Bank of New York’s latest quarterly household debt report, student loan delinquencies surged last year, up to $166.4 billion in the fourth quarter. The report includes the total owed and the percentage of delinquent accounts past 90 days or in default. 

The percentage of delinquent accounts figure has stood at 11% since about mid-2012, but the total amount of debt outstanding has increased to a stunning $1.46 trillion at the end of December 2018 – and unpaid student debt rose to its highest levels ever. 

Delinquencies rose even as unemployment fell below 4%, telegraphing that the U.S. job market simply hasn’t generated the level of wage growth necessary to deal with the country’s growing debt load. 

Bloomberg Intelligence interest-rate strategist Ira Jersey said: “Income levels for graduates are not necessarily high enough for debt payments overall. If you have a choice to pay your student loan or for food or housing, which do you choose?”

According to Jersey, the loans “probably won’t hurt the economy” because they are government-sponsored. Which is another way of saying taxpayers will once again come to the “rescue.”

“But incrementally, it does mean higher federal deficits if the loans are not repaid,” he conceded. 

Echoing what we first said back in 2012, Bloomberg notes  that the total amount in arrears is twice the amount the U.S. Treasury paid to bail out the auto industry during the last recession.

Meanwhile, with the cost of higher education doubling over the last 20 years, even the St. Louis Fed was unsure as to whether or not “college was still worth it”, according to a blog posted on their website. 

Another stunning observation: the age group that is transitioning to delinquency the fastest is not workers fresh out of college, but the 40 to 49 year old cohort, partly as a result of parents shouldering the load and borrowing to pay for their children’s expenses. 

This has forced some schools to provide more support for those attending. For instance, Cornell increased tuition for 2019-2020 by “the lowest it has been in decades” and the school is “budgeting for a significant increase in financial aid”. Purdue University will also not boost room and board rates for 2019-2020, the seventh year in a row it…
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Smollett Shuffles Attorneys, Hires Crisis Management Firm As Scandal Deepens

Courtesy of ZeroHedge. View original post here.

Update2: Smollett's management team has reportedly retained the services of Anne Kavanaugh, whose Chicago firm MediaPros24/7 provides several media services including crisis management.

He is also reportedly no longer being represented by high-profile criminal defense attorney Michael Monico after an alleged disagreement about Smollett's Saturday statement (h/t Nick Monroe). 

Monico told Fox 32 Chicago's Rafer Weigel that he "was but is no longer representing" Smollett, who is now represented by Chicago attorneys Victor Henderson and Todd Pugh. 

Update: According to CBS Chicago, the Nigerian brothers who were arrested and then released, "Abel" and "Ola," told detectives that they did a practice run a few days before the "attack."

Sources said one of the brothers held the rope and poured bleach while the other wore a plain red hat and yelled slurs at Smollett.

The sources say the red hat was bought at an Uptown beauty supply store and that the attack was supposed to happen before Jan. 29. The brothers told detectives the three men rehearsed the attack days prior to it happening. -CBS Chicago


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China’s HNA Conglomerate Dumps Even More Deutsche Bank Stock

Courtesy of ZeroHedge. View original post here.

Chinese troubled conglomerate HNA, whose Co-Chairman Wang Jian allegedly committed suicide during a business trip to France last summer, has once – again – cut its stake in Deutsche Bank by nearly a fifth to 6.3%, a new SEC filing shows. That marks the latest reduction in HNA’s holdings of the largest German Bank, which as of February 8 held 7.64% of the voting rights.

HNA’s C-Quadrat unit exercised options to sell 26.8 million Deutsche Bank shares for 363.4 million euros ($410 million) according to an SEC filing, BBG reported. The shares were sold at prices ranging from 11.45 euros to 16.70 euros apiece, far above current market prices, because the Chinese group had hedged its investment in Deutsche Bank with put options. Deutsche Bank shares closed at 7.752 euros in Frankfurt on Friday

Even with its reduced holdings, HNA remains the largest shareholders in Germany’s largest lender, just ahead of the Qatari royal family, which owns 6.1% while Blackrock is in third spot with 100 million shares representing 4.85% of the shares outstanding.

Hainan-based HNA started out as a regional airline but went on to take large stakes in companies such as Hilton Worldwide and Deutsche Bank, part of a $40bn acquisition binge that made it one of China’s largest owners of overseas assets, the FT summarizes. HNA initially bought into Deutsche Bank in early 2017 as part of a sweeping global acquisition spree which led the company to acquire billions in foreign companies and US real estate, borrowing heavily to amass a stake of close to 10% with the stake gradually reducing since then as this complex financing has unwound.

But it has since trimmed its stake in installments, following an aggressive crackdown by Beijing targeting offshore money flows,  with high debts at the conglomerate fueling speculation about the future of its Deutsche stake as it reduces or exits some of its other holdings. In parallel, HNA has put its buying spree into reverse making a series of divestments that include parts of its core aviation business, in a bid to tackle the nearly $100bn debt pile it amassed, which last year sparked concerns that China’s financial conglomerates could become ground zero for a financial crisis engulfing China.

One year ago, HNA itself was said to be…
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Weekly Market Recap Feb 17, 2019

Courtesy of Blain.

The “V” shape bounce continues in unrelenting fashion as bulls are stampeding bears in 2019!  All due to a little “patience” from the Federal Reserve.  It is really quite breathtaking but we have seen it repeatedly the past decade as the Federal Reserve pours gas on the market.  Hopes for a deal with China also spurred the action upward.  Rallies (both with gap ups) on Tuesday and Friday provided the juice this week.   The S&P 500 is back over its 200 day moving average after being below for 46 days – it’s longest period of time below that level since March 2016.

Mat Klody, chief investment officer at Keebeck Wealth Management, told MarketWatch that the major benchmarks’ steady march higher since the beginning of the year is being driven “by the perception that the Fed has done a complete 180” in its apparent dovish turn, after raising rates four times last year.

U.S.-China trade talks wrapped up Friday in Beijing, with reports that negotiators remained deadlocked over key issues, but were set to resume discussions next week in Washington — viewed as a sign that both sides were eager to reach a deal ahead of the March 1 deadline.

In economic news, retail sales plunged 1.2% the largest single-month decline since 2009 and well below the flat growth expected by economists.  That said the market isn’t concerned with such things as it’s all about the Federal Reserve giving out goodies.   It will be interesting to see if there is a big jump next month as a “reversion to mean”.

Sales fell in every retail category except auto dealers and home centers. What’s was surprising was a 3.9% reported decline in sales at internet sellers. That would mark the sharpest drop since November 2008 — the middle of the last recession. Sales also fell at bars, restaurants, apparel stores, grocers, home furnishers, pharmacies and outlets that sell hobby items such as books and sporting goods.

“The consumer is no longer enjoying tax


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More Than Half Of Homes Listed In NYC Last Year Never Sold

Courtesy of ZeroHedge. View original post here.

A torrid post-crisis recovery in the NYC housing market came to a screeching halt last year as a chasm opened up between what sellers were asking and what buyers were willing to pay.

But in the clearest post-mortem showing just how bad last year was for one of the world’s most unaffordable real estate markets, Property Shark  found in a recent analysis that less than half of the housing inventory available sold last year. According to PS, 48% of the homes listed between March through May of last year had been sold as of Feb. 1.

It’s a symptom of New York’s softening market, where a glut of inventory has given buyers major bargaining power, said Grant Long, senior economist for StreetEasy. Of the homes that didn’t sell, only 14% are still listed. But most of the homes that were pulled off the market could easily reemerge

And of the homes from last spring that did sell, roughly 70% of them closed for less than their owners initially sought. That’s up from 62% of sales a year earlier and 61% in 2016.

The resulting glut in unsold inventory is creating problems for sellers who are facing another tidal wave of inventory.

Housing

Here’s a breakdown of the report’s findings (text courtesy of Property Shark):

1. Of All Homes Listed for Sale in Spring 2018, Fewer Than Half Sold

Just 48 percent of the homes listed during March, April, and May 2018 had sold as of February 2019. While weakness at the top of the NYC sales market has been grabbing headlines, the sluggish pace of sales has extended to homes across boroughs and price points. Manhattan homes fared slightly worse than others, with just 44 percent selling, but even in the comparably strong market in Queens, just 54 percent of homes found buyers. This is not only about price: Though 61 percent of all homes listed for $1 million or more failed to sell, so did 45 percent of all homes priced under $1 million. (Nonetheless, units priced at or above $5 million fared far worse, with just 140 of 656 units, or 21 percent, finding buyers.)

The Greenwich Club condominium in the Financial District exemplifies this trend. A total of 31 units in the building were listed for sale in March, April, and May 2018, but only six…
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Hedge Fund CIO: “The Rich And Powerful Always Win”

Courtesy of ZeroHedge. View original post here.

Submitted by Eric Peters, CIO of One River Asset Management

Hope all goes well… Dusted off an anecdote from 2015 on what led to today’s growing backlash against inequality, injustice

Anecdote (Jan 2015):

"The rich and powerful always win; that’s the starting point," said the clear-eyed cynic, more interested in making mountains from molehills, than tilting at windmills.

"When upstarts periodically challenge their dominance, buying leveraged assets at wide credit spreads, central bankers throw the economy into recession, bankrupting new money, consolidating and preserving the existing power structure,” he continued. "That’s how capitalism mixed with democracy and rule of law works."

It ensures a positive correlation between competency and decision-making.

“The guys able to manage bigger bats are the ones swinging bigger bats; there’s probably no better way to do it.” What matters most is relative positioning within the wealth and power hierarchy, not absolute positioning. Which is why some crises that cleanse the system are by design, so devastating for everyone, including the powerful.

“Germany is in charge of Europe, and what do they want?” he asked, rhetorically. “They want every country on a DIP loan forever.” The last thing Germany wants is for their southern neighbors and France to pay off their debts.

“They want contractualized slavery, no different from what Hong Kong Chinese want from their Filipino maids.” But how about Germany’s acceptance of quantitative easing? “You hold off and give as little as you can,” he explained. “But giving as little as you can is different from giving nothing at all.” For all the excitement surrounding Draghi’s open-ended announcement this week, he’ll buy $1-$2trln of assets in an $80trln asset economy.

It solves no problems; buying time, while simultaneously relieving politicians of the imperative to make hard choices. Plus, with no real growth, or prospect of healthy returns on real investment, companies will now simply pay down existing debt.

“The Germans understand that even slaves need beds, and when they’re sick, you must let them go see the doctor.”





 
 
 

Zero Hedge

Russia's Lukoil Halts Oil Swaps In Venezuela After U.S. Sanctions

Courtesy of ZeroHedge. View original post here.

Submitted by OilPrice.com

Litasco, the international trading arm of Russia’s second-biggest oil producer Lukoil, stopped its oil swaps deals with Venezuela immediately after the U.S. imposed sanctions on Venezuela’s oil industry and state oil firm PDVSA, Lukoil’s chief executive Vagit Alekperov ...



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Chart School

Weekly Market Recap Feb 17, 2019

Courtesy of Blain.

The “V” shape bounce continues in unrelenting fashion as bulls are stampeding bears in 2019!  All due to a little “patience” from the Federal Reserve.  It is really quite breathtaking but we have seen it repeatedly the past decade as the Federal Reserve pours gas on the market.  Hopes for a deal with China also spurred the action upward.  Rallies (both with gap ups) on Tuesday and Friday provided the juice this week.   The S&P 500 is back over its 200 day moving average after being below for 46 days – it’s longest period of time below that level since March 2016.

Mat Klody, chief investment officer at Keebeck Wealth Management, told MarketWatch that the major benchmarks’ steady march higher since the beginning of the year is being driven &#x...



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Phil's Favorites

Modern Monetary Madness

 

Modern Monetary Madness

BY JOHN MAULDIN, Thoughts from the Frontine 

More than 10 years ago some Australian readers begin regaling me with the ideas of economist Bill Mitchell of the University of Newcastle in New South Wales. He was teaching about something he called (and he coined the term) Modern Monetary Theory. I looked into it and fairly quickly dismissed it as silly. Actually printing money as an economic policy? Get serious.

MMT is a revival of an e...



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ValueWalk

JNJ CEO Alex Gorsky On Partnering With Apple [Full Transcript]

By Jacob Wolinsky. Originally published at ValueWalk.

CNBC Exclusive: CNBC Transcript: JNJ CEO Alex Gorsky Speaks to CNBC’s Jim Cramer Today

Image source: CNBC Video Screenshot

WHEN: Today, Friday, February 15, 2019

WHERE: CNBC’s “Mad Money w/ Jim Cramer

The following is the unofficial transcript of a CNBC EXCLUSIVE interview with JNJ CEO Alex Gorsky and CNBC’s Jim Cramer on CNBC’s “Mad Money w/ Jim Cramer” (M-F 6PM – 7PM) today Friday, February 15. The following is a link to video from th...



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Digital Currencies

Is blockchain all hype? A financier and supply chain expert discuss

 

Is blockchain all hype? A financier and supply chain expert discuss

Iaremenko Sergii/Shutterstock.com

Coutesy of Carlos Cordon, IMD Business School and Arturo Bris, IMD Business School

This is an article from Head to Head, a series in which academics from different disciplines chew over current debates. ...



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Kimble Charting Solutions

Gasoline bullish breakout could fuel higher prices, says Joe Friday

Courtesy of Chris Kimble.

Are we about to pay much higher prices at the gas pump? Possible!

This chart looks at Gasoline futures over the past 4-years. Gasoline has become much cheaper at the pump, as it fell nearly 50% from the May 2018 highs. The decline took it down to test 2016 & 2017 lows at (1). While testing these lows, Gasoline could be forming a bullish inverse head & shoulders pattern over the past few months.

Joe Friday Just The Facts- If Gasoline breaks out at (2), we could all see higher prices at the gas pump. If a breakout does...



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Insider Scoop

10 Stocks To Watch For February 15, 2019

Courtesy of Benzinga.

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

  • Wall Street expects PepsiCo, Inc. (NASDAQ: PEP) to report quarterly earnings at $1.49 per share on revenue of $19.52 billion before the opening bell. PepsiCo shares rose 0.2 percent to $112.82 in after-hours trading.
  • NVIDIA Corporation (NASDAQ: NVDA) reported upbe...


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Biotech

Cancer: new DNA sequencing technique analyses tumours cell by cell to fight disease

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

 

Cancer: new DNA sequencing technique analyses tumours cell by cell to fight disease

Illustration of acute lymphoblastic leukaemia, showing lymphoblasts in blood. Kateryna Kon/Shutterstock

Courtesy of Alba Rodriguez-Meira, University of Oxford and Adam Mead, University of Oxford

...

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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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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.

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