Thanks, I managed to make 2k today so I am happy…and feel like I am finally getting it. New equipment and a quiet place to work helps a lot. I am happy for all the members that took your /NKD advice….that was fun I am sure! coke Take your vitamins…I don't know how you do all this! but, keep it up!
Coke
Thanks Phil for all you do. I feel like I don't read all the newsprint because when I check in with you I know I get the "real" scoop. Your service is number Uno in my book for all the knowledge and teaching. I ignored the aapl spin and am now enjoying some rewards. Every AM I get my Phil fix and throughout the day any important links. Mucho gracias. It leaves me time for my volunteer work besides the investing.
Pirateinvestor
Just closed out my V put for 50% in 24 hours thanks Phil!
Humvee
Phil: That NFLX call was awesome. The speed at which NFLX options decayed was precipitous. The blow out spike that allowed me to double and roll my callers to 190(!) and the ridiculous 170 weeklies @3.50 a day away from Op-Ex. The gains I realized in that trade floored me when I took a long at my portfolio value on Friday. What a great way to start the 3rd Quarter.
Kinkistyle
Thanks to your teaching and guidance, I was able to make a killing on my /TF shorts. I averaged into 12 shorts at 1252 and got out of 6 at 1242 and 6 more at 1235. Last week I did the same with /CL, though I got out too early and left $2 on the table. Thank you!
Japarikh
Praising PSW for enlightenment is a bit akin to praising the Pope for being holy. I've been reading PSW for about two months now and have learned more about investing technique and the world in general than I've learned from the books and seminars I've paid for. Thanks for the enlightenment, the education, the guidance and the truth, which is not a commodity these days, but a virtue in short supply.
Andy Morris
Joined last year and and started profitably trading options thanks to everything I have learned here. THANK YOU!!
OnWisconsin
Phil – just wanted to say a sincere thank you for teaching me how to offset, hedge, roll, and not panic. My account is up 10% in the last two weeks, and far from panic, this is becoming great fun. Thanks again,
Deano
Thank you so much for the good daily news in review Phil. I love your commentary! It is such a breath of fresh air in the smog cluttered news networks.
RJRoberts
Phil, have to thank you for saving me today. I think the discipline I have learned from this site has helped me as much if not more than the actual picks.
Rustle123
I cannot believe the success I have had in the last 6 months because of what I have learned here! It has been truly life changing. It's like the old adage about teaching someone how to fish instead of just giving them a fish. Thank you Phil, I am forever grateful and hope I have helped someone else along the way.
Craigsa620
I have been a member of Phil's site for three years and counting, and my advice is that all investing takes time. There are o shortcuts, no secret way to riches. Same with Phil's site- you need time and patience to start benefitting fully from his advice. But it is often spot on and also very useful, especially to me as I try to keep a level head in this turbulent stock market environment.
Jordan
Phil, I just wanted to say thanks for being there. The world needs more of you. Your site continues to positively change my life daily.
Chasw
Phil, Passed a milestone today since joining 2 months ago. 25% of my account is in buy/writes, bull call spreads and disaster hedges. A majority of the trades were taken directly from your ideas or someone else`s contributions. Some were daytrades that became spreads. That part of my account is up 30% as of today. I don`t worry about it, or mess with it much, did a few rolls etc. Rest of the account is there to day trade, cover the writes and take advantage of opportunities. Thanks to everyone who contributes here, what a sweet way to trade, so many opportunities.
Ben1Be
I remember that call (to sell gold at $1,850) as well... and the many Buy-Writes that were created on your site during that period... thanks to you, I had an average ROI of close to 70% for over 2 years, averaging 4,000 trades per year. Busy trading, but lots of fun and memorable trades.
1234gel
Phil - I caught the interview…. terrific!. Your host recommended that the viewers should " go to your site, as you will be entertained ". That is for sure if you consider entertainment is laughing while you read, learn and make unbelievable leveraged profits that you never thought were possible. That is my kind of entertainment !
Gel1
You guys gotta give it to phil–the voice of reason yesterday, last nite and this morning.
Corleone
Sold the BG puts I got yesterday at $1.30 for $2 just now. Might be a little early, but I'm happy with that gain. Thanks Phil.
Smasher
1,000% on SKF - It was a freakin' monster into the center field bleachers! I saw it play out live and squawked it from the StockTwits ID which 14k people follow: Home run trade of the week @philstockworld just knocked cover off ball w $SKF puts. http://bit.ly/piBL Great trade bud!
Phil Pearlman - StockTwits
PHIL: The most important lesson I have learned is how to hedge using SQQQ, SDS and TZA. A big thanks.
IHS4God
HOTT / Got great trades with it: Enter 6.75 at open, out at 7.18 (avg) at 10:13 Reentered at 7.00 and out all 7.11 few minutes ago- Was a small play but I collected enoght for next month PSW subscription.
Spider
Simply the best blogger with the greatest group of members a person could surround himself with on trading day. I've been trading for quite some time now and the insights & suggestions offered by Phil and the members keep me on a continuous learning cycle.
DDay
I love it when a trade really comes together. After 4 DD's and a roll, I cashed out 16 times my initial position in TLT today for a 140% gain. Thank you Phil for the lessons in scaling in, and paying for position.
2Can
Thanks for the oil tip Phil: Bot & sold the USO May 29 calls for net $125. Not bad for few minutes work.
JWick1981
Being on this board is better than successfully completing the Times crossword. Phil's panoply of comments manage to excite, illuminate, frustrate, exasperate, confuse, enlighten, outrage, invigorate and stupefy (and that's par for the morning session only!). But goddammit, it's addictive, informative and when it all goes right extremely profitable.
Winston
Phil I have been telling you for a while how I feel like I am really understanding you now and thanking you. Well today may have been my most successful futures trading day since I began here and the week has been spectacular! It has just seemed so easy when you give us a range and I execute properly. Thanks once again for teaching me to fish. My portfolio gained over 10% this week which is just amazing.
Craiga620
PSW – Price/Value; The value of PSW on a regular basis exceeds by far the price of the annual subscription. The edition of February 26 'Which Way Wednesday – Popping or Topping?', – priceless for the serious investor.
Winston
Peter D, Just a note of thanks. Eight weeks ago, I entered my first RUT strangles, when the RUT was at 625. Tomorrow, I will let them expire, with the RUT at 625 (give or take). I didn't care when the RUT went to 650, nor when it dropped to 590. Easiest, no touch money I've made in a long time.
Judahbenhur
Phil - I LOVE these futures trades at random hours! I wasnt able to get in on the 612 part but if I had it wouldve been 130$ (2.6%) on a 5k contract in less than 30 minutes. I know you have to sleep, spend time with fam, ect but Im just letting you know that your posts after hours/late at night has made people who followed them a decent chunk of change. Thank you, we appreciate it!
Jromeha
CZR – well that was fun! Opened the play yesterday. As the arb premium was now almost all gone from the box spread today, I just decided to close it. The rundown, after all commissions: my net was $183.51 profit for an overnight trade tying up $2000 margin in an IRA account. That's a 9% overnight return (3200% annualized!) …And all that learning, too! Thanks PSW!
Scottmi
by ilene - June 22nd, 2019 3:55 pm
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 is perhaps the most profound development since the birth of cryptocurrencies through the launch of bitcoin a decade ago.
JP Morgan Chase has been leading the way, having announced JPM Coin earlier this year, the first cryptocurrency issued by a big international bank. When trials begin in the coming months, each JPM Coin will be redeemable for one US dollar, protecting this cryptocurrency from the volatility characteristic of the likes of bitcoin.
One of the main reasons for JP Morgan launching these coins is to offer large corporate clients a way of making international payments in real time. This could gradually replace the current global interbank funds transfer network known as SWIFT, whose wire transfer payments can sometimes take a whole business day to settle.
A few weeks later, the IMF and World Bank jointly announced the launch of Learning Coin, a private blockchain and quasi-cryptocurrency designed to help them better understand the technology. Facebook, too, was reported to be interested in launching a cryptocurrency.
Meanwhile, financial firm 20|30 became the first company to float on a mainstream regulated trading platform using blockchains, when it issued shares in the form of “equity tokens” similar to a cryptocurrency on the London Stock Exchange.
It is all a far cry from the rationale for creating bitcoins and blockchains in the first place: to decentralise finance away from the dollar-dominated system of fiat currencies and to gradually render financial institutions obsolete.
Yet this space remains attractive to those seeking to undermine US financial hegemony. Iran and Russia are both looking at launching state-backed cryptocurrencies, in response to US threats to disconnect them from the SWIFT payments system. This would enable these countries to join other blockchain-based payment networks, with the…
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by Zero Hedge - June 22nd, 2019 10:06 am
Courtesy of ZeroHedge
One day after we reported that Bitcoin futures traded above $10,000 as crypto derivatives markets "are gearing up towards another big weekend as bitcoin approaches $10k", not only did the spot price surge above $10,000 but just a few hours later – in a vivid replay of December 2017 – the cryptocurrency promptly took out $11,000 as well.
“The bounce back of Bitcoin has been fairly extraordinary,” said George McDonaugh, chief executive and co-founder of London-based blockchain and cryptocurrency investment firm KR1 Plc.
“Money didn’t leave the asset behind, it just sat on the sidelines waiting to get back in.”
Cryptos are a sea of green this morning after a big overnight session…
Volume spiked as Bitcoin surged past $10k…and accelerated above $11k – the highest since March 2018
Ethereum also spiked above $300…the highest since Aug 2018
In contrast with last year, Bloomberg notes that there are now signs of renewed mainstream interest in cryptocurrencies and the underlying blockchain technology, most prominently Facebook's Libra. The social-media giant is working with a broad group of partners from Visa to Uber to develop the system, which has already attracted attention and criticism from politicians raising privacy and security concerns.
image courtesy of CoinTelegraph
This lifts Crypto's total market cap above $333 billion, the highest since June 2018…
As CryptoSlate.com's Priyeshu Garg notes, while many were quick to dismiss the effect Libra could have on the broader crypto market, it seems that the highly-anticipated digital asset is already making waves throughout the industry. Despite the problems it faces -which include centralization and lack of privacy – Libra was still celebrated by some in the crypto community.
Garry Tan, the managing partner at Initialized Capital, said that Libra’s launch was a “big day” for the crypto industry, as it has the potential to transform the crypto market. Tan pointed out that Facebook has 2.4 billion users, while WhatsApp, the messaging giant owned by Facebook, has over 1.5 billion. Recent studies estimate the number of…
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by ilene - June 19th, 2019 7:39 pm
Courtesy of Pam Martens
Congresswoman Maxine Waters
In response to the stunning announcement from Facebook that it is planning to launch a cryptocurrency, Congresswoman Maxine Waters, the Chair of the House Financial Services Committee, issued the following statement yesterday:
“Facebook has data on billions of people and has repeatedly shown a disregard for the protection and careful use of this data. It has also exposed Americans to malicious and fake accounts from bad actors, including Russian intelligence and transnational traffickers. Facebook has also been fined large sums and remains under a Federal Trade Commission consent order for deceiving consumers and failing to keep consumer data private, and has also been sued by the government for violating fair housing laws on its advertising platform.
“With the announcement that it plans to create a cryptocurrency, Facebook is continuing its unchecked expansion and extending its reach into the lives of its users. The cryptocurrency market currently lacks a clear regulatory framework to provide strong protections for investors, consumers, and the economy. Regulators should see this as a wake-up call to get serious about the privacy and national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies. Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and take action. Facebook executives should also come before the Committee to provide testimony on these issues.”
Related Articles:
Facebook’s Experiment and its CIA Roots
Wall Street’s Banksters Are Clandestinely Trading the “Digital Gangster” Stock of Facebook
Is It Social Media or Corporate Surveillance? Facebook’s Business Model
Facebook Opens Door to More Federal Probes by Asking Banks for Data
Could Technology Doom Facebook, Koch Industries and JPMorgan Chase?
Has Facebook and Cambridge Analytica Put Democracy at Risk in Both the U.S. and U.K.?
Wall Street’s $100 Million in Trading Profits in Facebook
…
Published originally at Wall Street on Parade.
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by ilene - June 19th, 2019 2:05 am
The world’s newest country? railway fx/Shutterstock.com
Courtesy of Jennifer Grygiel, Syracuse University
Facebook has announced a plan to launch a new cryptocurrency named the Libra, adding another layer to its efforts to dominate global communications and business. Backed by huge finance and technology companies including Visa, Spotify, eBay, PayPal and Uber – plus a ready-made user base of 2 billion people around the world – Facebook is positioned to pressure countries and central banks to cooperate with its reinvention of the global financial system.
In my view as a social media researcher and educator, Facebook CEO Mark Zuckerberg is clearly seeking to give his company even more political power on a global scale, despite the potential dangers to society at large. In a sense, he is declaring that he wants Facebook to become a virtual nation, populated by users, powered by a self-contained economy, and headed by a CEO – Zuckerberg himself – who is not even accountable to his shareholders.
Facebook hasn’t behaved responsibly in the past, and is still wrestling with significant public concerns – and investigations – about its privacy practices, information accuracy and targeted advertising. Therefore, it’s important to see through the hype. People must consider who is reshaping the world, and whether they are doing it in the best interests of humankind – or whether they are just seeking to benefit the new class of elite technology executives.
Humanity needs ethical leadership, and time to think through the potential repercussions of rapid technological change. That’s why, in my view, Facebook’s cryptocurrency should be blocked by financial regulators until its design has been proved to be safe for all of global society.
You might not want to trust this man. Anthony Quintano/Wikimedia Commons, CC BY
Technology companies are interested in a global currency that is native to the internet. That could allow companies like Facebook and Twitter to bring in more users…
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by ilene - June 19th, 2019 1:53 am
Courtesy of Jay L. Zagorsky, Boston University
Facebook is joining the cryptocurrency craze. Should we be concerned?
The social network site on June 18 said it’s launching a new cryptocurrency called Libra with the help of 27 partners, including MasterCard, Visa, ebay and Uber.
In simple terms, Libra is meant to replace the paper bills in your wallet or purse with a digital equivalent. But unlike other cryptocurrencies like bitcoin, Libra will be directly backed by assets.
The white paper describing the vision for this new currency is filled with laudable goals such as creating economic opportunity and advancing financial inclusion. But it will take time to completely understand the ramifications of Libra, which Facebook hopes to launch in 2020.
As a macroeconomist, I believe there are economic benefits to Facebook’s cryptocurrency – but also some big potential downsides.
Existing cryptocurrencies are not tied to physical assets. This makes them immune to the whims of national governments but also makes them prone to speculative bubbles and flash crashes.
Libra, on the other hand, is going to be 100% backed by assets. Every unit of Libra currency will be backed by an equivalent basket of bank deposits and short-term government securities in various major currencies.
As a result, Libra will not suffer wild price fluctuations. And since it will be backed by a collection of international currencies and assets, it won’t be tied to the fortunes and policies of one country either.
Economist Friedrich Hayek believed in the decentralization of currency. The Mises Institute, CC BY
Another effect of being backed by assets is that it may help lower the risk of high inflation in countries across the world. Nobel Prize-winning economist Friedrich Hayek made this very point in his book “The Denationalisation of Money.” Hayek believed everyone would be better off if people could pick among different types of private money, like Libra, instead of using government-issued money. Hayek believed issuing private money would banish inflation…
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by Zero Hedge - June 3rd, 2019 8:23 pm
Courtesy of ZeroHedge. View original post here.
Having survived the day's bloodbath in US tech stocks, cryptos are crashing in the early Asian session, apparently playing catch-down to the day's de-risking.
While no catalyst is immediately evident, there are some reports noting 13 large global banks are preparing to launch digital versions of major global currencies next year, though we suspect this drop was more algorithmic that fundamental-driven.
The entire crypto space is down 8-12%…
With Bitcoin back below $8000 and oddly attracted lower to Nasdaq's collapse…
However, as CoinTelegraph reports, macro strategists remain bullish, despite the recent overnight crashes (many of which appear to synchronize around the Korean morning). The following factors have been mentioned in recent weeks as potential catalysts for an increase in bitcoin’s price:
Rise in institutional demand, as seen in the drastic increase in Bitcoin Investment Trust (GBTC) premium.
The entrance of major financial institutions such as Fidelity, Etrade and TD Ameritrade.
Scheduled block reward halving of bitcoin in May 2020.
A noticeable improvement in the infrastructure supporting the asset class.
Rising institutional demand, triggering the recovery of retail interest.
Technical analysts in the crypto sector, such as Josh Rager and Cred, foresee $8,200 as a crucial support level that could prevent the asset from dropping to the $7,000 region once again.
The last time bitcoin’s price dropped below $7,000 was in a flash crash on March 17, when it fell to $6,400, triggered by the unexpected sell-off of 5,000 BTC on Bitstamp, which then led to the mass liquidation of contracts on BitMEX.
Bitcoin has since demonstrated strong momentum, with signs of “fear of missing out” (FOMO) among investors, creating a vertical rally to the upside.
Cred told Cointelegraph in an interview that, as long as the $8,200 support level is defended, a rise to $9,600 remains a realistic target and a high time frame resistance level.
…
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by ilene - May 18th, 2019 1:41 am
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 is perhaps the most profound development since the birth of cryptocurrencies through the launch of bitcoin a decade ago.
JP Morgan Chase has been leading the way, having announced JPM Coin earlier this year, the first cryptocurrency issued by a big international bank. When trials begin in the coming months, each JPM Coin will be redeemable for one US dollar, protecting this cryptocurrency from the volatility characteristic of the likes of bitcoin.
One of the main reasons for JP Morgan launching these coins is to offer large corporate clients a way of making international payments in real time. This could gradually replace the current global interbank funds transfer network known as SWIFT, whose wire transfer payments can sometimes take a whole business day to settle.
A few weeks later, the IMF and World Bank jointly announced the launch of Learning Coin, a private blockchain and quasi-cryptocurrency designed to help them better understand the technology. Facebook, too, was reported to be interested in launching a cryptocurrency.
Meanwhile, financial firm 20|30 became the first company to float on a mainstream regulated trading platform using blockchains, when it issued shares in the form of “equity tokens” similar to a cryptocurrency on the London Stock Exchange.
It is all a far cry from the rationale for creating bitcoins and blockchains in the first place: to decentralise finance away from the dollar-dominated system of fiat currencies and to gradually render financial institutions obsolete.
Yet this space remains attractive to those seeking to undermine US financial hegemony. Iran and Russia are both looking at launching state-backed cryptocurrencies, in response to US threats to disconnect them from the SWIFT payments system. This would enable these countries to join other blockchain-based payment networks, with the…
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by ilene - May 16th, 2019 5:55 pm
Courtesy of Joshua M Brown
Today on the mini pod I asked my friend, fellow advisor and crypto currency expert Tyrone Ross. We talked about what’s happening, who is buying and what the next catalyst might be.
You can listen below…
Make sure to subscribe to The Compound Show on iTunes or Spotify
Or – enable our Alexa skill here – “Alexa, play the Compound show!”
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by Zero Hedge - May 12th, 2019 9:33 am
Courtesy of ZeroHedge. View original post here.
Authored by Omid Malekan via Medium.com,
I’ve been a vocal advocate of stablecoins for a while, and have written about my belief that they’ll be the first killer application for blockchain. In my talks, I often refer to Tether as “the worst implementation of a great idea,” on account of the persistent lack of transparency, bank hoping and poor communication.
That shadiness, combined with its popularity, has made USDT an industry liability for years. Although I never subscribed to the crazy conspiracy theories, I have always worried that a stablecoin-related scandal would tank prices and make me look bad. When you are passionate about a new idea, the biggest danger is a poor implementation early in the life cycle ruining it in the eyes of others. So imagine my excitement last year when a handful of better designed, more transparent and willingly regulated alternatives showed up. Surely, I thought, all the people who used Tether would now switch to something safer.
Except that they didn’t, and Tether continued to dominate in market cap, even after news of withdrawal issues at parent exchange Bitfinex temporarily collapsed the peg last fall. This should have been the first sign that the world of stablecoins was not as I thought it was, but I wrote it off to a temporary lack of availability of the other coins at major exchanges.
Then came the recent filing from the attorney general of New York, and the worst case scenario was realized. There was now solid proof from an important authority that there were more tokens outstanding than dollars backing them by a wide margin. Surely the UDST peg would now collapse by at least the amount of the missing funds?—?if not more, and the industry would swiftly move to a better stablecoin. Upon hearing the news, I put several cross-stablecoin markets on my quote screen and waited for the fireworks to start, relieved that the albatross would soon be lifted.
But that didn’t happen, either. Confirmation of Tether not being fully backed had more of an impact on the price of Bitcoin than USDT itself. The peg never fell by more than a few percent, despite Bitfinex effectively admitting…
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by Zero Hedge - April 26th, 2019 10:05 pm
Courtesy of ZeroHedge
Authored by Alena Nariniani via HackerNoon.com,
Specially for Game of Thrones fans I’ve decided to imagine the crypto market in the GoT universe.
Here is what came out of it.
Would eagerly take control of absolutely everything, but so far it’s not quite working out. Not the type to back down either. Stubbornly trying to regulate more and more areas, they claim people user security is the key motivation behind their actions, saying that crypto regulation lays far outside of their interests since they have plenty of other matters to be taking care of (the Lannisters also frequently claim they neither need or care for King’s Landing and they are content with Casterly Rock, and all they are doing is for the benefit of the people)…
The people users believe. Or pretend to be doing so. They gather into small and large groups to air their grievances, but ultimately, having discussed them, disperse. However, since the Lannisters have such valuable assets as Qyburn, a necromancer, and the Mountain, a towering brutal warrior, such gatherings are not a concern to anyone.
Authorities and regulators are in a constant power struggle between each other, trying to make their way into the very top of their hierarchy, however, when faced with a common enemy (think industry that is not yet regulated to the grown) they quickly rally up. Most of House Lannister members are there illegitimately in some way, but it’s almost impossible to drive them away from the Iron Throne.
The SEC representatives would surely prefer to be Daenerys Targaryen, but they are frequently reminded that they are not directly relevant in the crypto industry, so they sigh and take on the role of House Stark.
They dream of controlling the crypto market the same way they control the US securities market?—?with an iron fist. Their motto, “Winter is coming”, is said with the intention to hurry the regulation of the market… They almost never scheme, but from time to time they try to speak to Lannisters as equals (bringing suggestions, expressing opinions). This gives…
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June 25th, 2019 10:10 pm
Ray Dalio Is Kinda, Sorta, Really Wrong, Part 3
Courtesy of John Mauldin, Thoughts from the Frontline
Two weeks ago I started a mini-series in the form of an open letter responding to a series of essays by Ray Dalio, the founder of Bridgewater Associates. I wrote here and here that he was kinda, sorta wrong in Why and How Capitali...
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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