Archive for the ‘Phil’s Favorites’ Category

The Constitution dictates that impeachment must not be partisan


The Constitution dictates that impeachment must not be partisan

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President Donald Trump arriving at the Rose Garden, May 22, 2019, in Washington. AP/Evan Vucci

Courtesy of Peter Brandon Bayer, University of Nevada, Las Vegas

Barely two decades since the impeachment of Bill Clinton, the people of the United States again are confronting the possibility that their president, now Donald Trump, could be impeached, meaning charged by the House of Representatives with offenses that, if proved in a Senate trial, would remove him from office.

Not surprisingly, politics have pervaded the debate.

Many, perhaps most, assume that impeachment of a president should be, or inevitably will devolve into a political melee. The few historic examples that exist show political motivations – to varying degrees – in the impeachment proceedings against Presidents Johnson, Nixon and Clinton.

Democratic House Speaker Nancy Pelosi told The Washington Post in March that “impeachment is so divisive to the country that unless there’s something so compelling and overwhelming and bipartisan, I don’t think we should go down that path.”

House Democratic Speaker Nancy Pelosi, who is against impeaching the president. AP/J. Scott Applewhite

Most Democratic leaders don’t want impeachment, at least at this point, fearing a political backlash in 2020 if they pursue impeachment. Some believe that if impeached in the House and tried and acquitted by the Senate, Trump’s political popularity will skyrocket like Bill Clinton’s did after his impeachment in 1998.

Nonetheless, impeachment supporters in the House now number, according to The New York Times, “roughly two dozen.” House and Senate Democratic leaders are facing increased calls by a growing number of colleagues to begin formal impeachment proceedings against President Trump.

To date, only one Republican has joined the chorus, Michigan Rep. Justin Amash.

Other Republicans – supporters of President Trump – accuse Democrats of using impeachment to overturn the 2016 presidential election.

Politics now characterize the serious issue of whether Trump has obstructed justice and committed other offenses worthy of his removal from office.…
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Hearing Profiles Treasury Secretary Mnuchin as Dark Villain to Rule of Law

Courtesy of Pam Martens

Vice President Mike Pence Swears In Steven Mnuchin as U.S. Treasury Secretary on February 13, 2017. President Donald Trump and Mnuchin's Fiancée, Louise Linton, Look On.  Mnuchin Wiill Have to Deal This Year With a Likely Doubling of U.S. Treasury Net Issuance.

Vice President Mike Pence Swears In Steven Mnuchin as U.S. Treasury Secretary on February 13, 2017. President Donald Trump and Mnuchin’s Fiancée (Now Wife), Louise Linton, Look On.

U.S. Treasury Secretary Steve Mnuchin appeared yesterday before the House Financial Services Committee. You know it was a bad day for the Secretary when the low point was not Congressman Stephen Lynch’s request to the Chair, Maxine Waters, to have Mnuchin held in contempt for not following the statute that calls for the IRS to turn over tax returns on any American when requested by an authorized Committee of Congress. Mnuchin has said he will not turn over the tax returns of the President of the United States, which are under subpoena by Congress. (The Internal Revenue Service, which holds these tax returns, is an agency of the U.S. Treasury.) Waters said she will seek the advice of the Committee’s counsel on the contempt request.

A number of Democratic members of the Committee intensely questioned Mnuchin on  his myriad deregulatory efforts that have harmed the average American and have not been widely covered by mainstream media.

Congresswoman Rashida Tlaib

Congresswoman Rashida Tlaib

Congresswoman Rashida Tlaib grilled Mnuchin on the fact that his Treasury Department had rolled back earlier this year an Obama-era rule that stopped corporations from offering lump-sum retirement benefits to retirees receiving a fixed amount of monthly income for life under a Defined Benefit Pension Plan. Tlaib told Mnuchin that Whirlpool, which is headquartered in her state of Michigan, had bragged that it could cut $39 million off its pension obligations by giving lump sums. Tlaib also told Mnuchin that Forbes estimated that retirees could receive 20 to 30 percent less under the lump sum option.

Mnuchin responded that this was “not an area that I’m up to speed on” and promised to get back to her.

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USPS Starts Testing Self-Driving Trucks For Long Hauls

Courtesy of ZeroHedge

The US Postal Service (USPS) has awarded TuSimple, a global self-driving truck company, a contract to haul mail across the country with self-driving trucks, a move that could save the money-losing government agency millions of dollars per year if implemented, reported a TuSimple press release.

The two-week pilot started Tuesday will haul USPS trailers about 1,000 miles between USPS's Phoenix, Arizona, and Dallas, Texas distribution facilities. The 22-hour trip is often outsourced to third-party trucking companies that use multiple drivers.

During the test, a safety engineer and driver will monitor TuSimple's autonomous truck as it traverses I-10, I-20 and I-30 corridors through Arizona, New Mexico, and Texas.

"It is exciting to think that before many people will ride in a robo-taxi, their mail and packages may be carried in a self-driving truck," said Dr. Xiaodi Hou, Founder, President and Chief Technology Officer, TuSimple. "Performing for the USPS on this pilot in this particular commercial corridor gives us specific use cases to help us validate our system, and expedite the technological development and commercialization progress."

The USPS, which has been a money pit for taxpayers, lost nearly $4 billion in 2018, could finish 2019 with a $7 billion loss. With letter volume in terminal decline, the agency is trying to automate its transportation fleet as one way to cut expenses.

"We are conducting research and testing as part of our efforts to operate a future class of vehicles which will incorporate new technology to accommodate a diverse mail mix, enhance safety, improve service, reduce emissions, and produce operational savings," a postal service spokeswoman told The Wall Street Journal in an email.

Several years ago, autonomous mobile robots caught the attention of the USPS Office of Inspector General, who said autonomous vehicles have the potential to cut costs, increase efficiency, and enable new services. While delivery robots are still technologically immature to be fully scalable across major cities, autonomous long-haul trucking could be more realistic in the next several years.

Automation has the potential to reshape the US economy in the 2020s. The rapid adoption of new automation technologies across the entire economy could eliminate 20% to 25% of current jobs, hitting the middle class the hardest. The automation wave has started, middle America should be absolutely terrified that robots could soon replace them in the next 10 years.

Faster, more accurate diagnoses: Healthcare applications of AI research


Faster, more accurate diagnoses: Healthcare applications of AI research

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As machine learning progresses, its applications include faster, more accurate medical diagnoses. Shutterstock

Courtesy of Seokbum Ko, University of Saskatchewan

When Google DeepMind’s AlphaGo shockingly defeated legendary Go player Lee Sedol in 2016, the terms artificial intelligence (AI), machine learning and deep learning were propelled into the technological mainstream.

BBC Newsnight: AlphaGo and the future of Artificial Intelligence.

AI is generally defined as the capacity for a computer or machine to exhibit or simulate intelligent behaviour such as Tesla’s self-driving car and Apple’s digital assistant Siri. It is a thriving field and the focus of much research and investment. Machine learning is the ability of an AI system to extract information from raw data and learn to make predictions from new data.

Deep learning combines artificial intelligence with machine learning. It is concerned with algorithms inspired by the structure and function of the brain called artificial neural networks. Deep learning has received much attention lately both in the consumer world and throughout the medical community.

Interest in deep learning surged with the success of AlexNet, a neural network designed by Alex Krizhevsky that won the 2012 ImageNet Large Scale Visual Recognition Challenge, an annual image classification competition.

Another relatively recent advancement is the use of graphical processing units (GPUs) to power deep learning algorithms. GPUs excel at computations (multiplications and additions) needed for deep learning applications, thereby lowering application processing time.

In our lab at the University of Saskatchewan we are doing interesting deep learning research related to healthcare applications — and as a professor of electrical and computer engineering, I lead the research team. When it comes to health care, using AI or machine learning to make diagnoses is new, and there has been exciting and promising progress.

Extracting blood vessels in the eye

Detecting abnormal retinal blood vessels is useful for diagnosing diabetes and heart disease. In order to provide reliable and meaningful medical interpretations, the retinal vessel must be extracted from a retinal image for reliable and meaningful interpretations. Although…
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What Are Your Thoughts: The $47 Trillion Question


What Are Your Thoughts: The $47 Trillion Question

Courrtesy of 

Josh and Michael with special guest Ben Carlson (A Wealth Of Common Sense) play What Are Your Thoughts?

We discuss:

* Why are there over 100,000 funds in the industry?

* Why Josh loves Giannis Antetokounmpo even more now

* What to make of the first non-transparent ETF

* The Game of Thrones finale

* Steve Cohen’s $91 million steel rabbit purchase

* What’s the difference between Twitter ads and Instagram ads?

* Josh is crazy bullish on Slack ahead of its IPO

* Are index funds about to cause a stock market crisis?

Be sure to subscribe to our channel so you never miss an update.

Overpriced tech IPOs sell grand visions but aren’t worth their valuations


Overpriced tech IPOs sell grand visions but aren't worth their valuations

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rblfmr /

Courtesy of John Colley, Warwick Business School, University of Warwick

The year of the tech IPO is 2019. Uber went public on May 10 with a US$82.4 billion valuation. Fellow ride-sharing app Lyft floated in March with a U$24 billion valuation and Pinterest had a US$10 billion IPO in April. More big names – including Slack, Airbnb, WeWork and Palantir – are set to follow.

But Uber’s share price began to slide as soon as it went public. Lyft’s shares have also been on a downward trajectory since March. So it’s worth considering how astronomic valuations for these non-profitable companies are calculated. Is there any science or rationale upon which to base the values, or are they purely hype on the part of those standing to benefit most? This would include early investors, the board and investment bank advisers promoting the offers.

In reality, there is surprisingly little evidence supporting IPO valuations. It is almost impossible to establish a relationship between the underlying data and the valuation. The main influences are clear: a resonant company vision and rapid user growth.

Lyft’s share price has been falling since its IPO at the end of March 2019. Yahoo! Finance

Vision and growth

A company’s vision normally sketches out how its future is going to be different to its competitors and how this will benefit the business (and shareholders). Uber and Lyft, for example, suggest that urban dwellers will not need to own a car, with access to their hassle-free vehicles. Somehow the introduction of autonomous vehicles will also benefit the taxi hailing businesses.

The end of car ownership could be some way off and predicting the future over such a long time period is fraught with risk. The real vision for most technology platforms is to emulate Facebook, Amazon or Google and create network effects, which is the phenomenon where the more customers you get, the more useful the product or service becomes, attracting more suppliers which…
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Brexit: how the end of Britain’s empire led to rising inequality that helped Leave to victory


Brexit: how the end of Britain's empire led to rising inequality that helped Leave to victory

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AC Arts Photography via Shutterstock

Courtesy of Danny Dorling, University of Oxford and Sally Tomlinson, University of Oxford

It was a man called Reginald Brabazon, Earl of Meath, who in 1903, two years after the death of Queen Victoria, suggested that her birthday, May 24, should be renamed Empire Day and become a day for patriotic celebration. His idea began to take off the following year and slowly spread in popularity. In 1909, Brabazon attended a day in Preston where a crowd of 20,000 people watched boys and girls parade past in what they were told was the national dress of each colony.

When World War I patriotic fervour was at its height, in 1916, the government gave in to calls for the day to be marked with an official state ceremony. But it wasn’t until the 1920s that the official celebrations really began to take off, and in May 1926, Empire Day became closely linked to the work of the newly established Empire Marketing Board. British school children all received a free mug and cake and were routinely taught that the British Empire was glorious. One woman, who grew up in Cardiff in the late 1950s, remembers being made to sing the following ditty at elementary school as the union jack was hoisted in the playground every Empire Day:

Brightly, brightly, sun of spring upon this happy day
Shine upon us as we sing this 24th of May
Shine upon our brothers too,
Far across the ocean blue,
As we raise our song of praise
On this our glorious Empire Day.

As the power of the British Empire waned after World War II, it became increasingly clear that Empire Day was done. In 1958, it was finally rebadged British Commonwealth Day, in 1966 merely Commonwealth Day. And in 1977 the date of the celebrations was moved to the second Monday of March where it remains today.

No doubt if Empire Day was still going, 2019 would have been a special year – marking the 200th anniversary of Queen…
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World Trade War I: US Asks South Korea To Join Anti-Huawei Campaign

Courtesy of ZeroHedge

The bilateral trade war between the US and China is gradually becoming a global trade war of global geopolitical and commercial dominance between the US and Chinese spheres of influence.

Shortly after the two largest mobile phone companies in the UK decided against launching Huawei-built 5G phones this morning, and roughly around the time a bevy of Japanese tech and telecom companies including ARM Holdings, Panasonic and SoftBank all imposed a boycott on supplying Huawei with mission critical components joining Australia, and New Zealand as major US allies to end commercial relations with Huawei following the US decision to crack down on the Chinese telecom giant (see "Huawei Feels U.S. Squeeze in U.K., Japan as Partners Curb Business") the White House is now pressuring another critical Chinese trading partner – South Korea – to cease ties with Huawei.

According to the Chosun Ilbo newspaper, the US recently asked South Korean government to support and join its anti-Huawei campaign.

Forcing Seoul to pick sides in a fight it would rather stay out of – especially since both sides still bear a distinct grudge from the Korean war – the US delivered a message several times to S. Korea’s Foreign Ministry that "using Huawei products may cause security problems" and as a result, the US requested S. Korea’s "active" support of US policy toward China as South Korea is seen as an American ally.

More from Chosun, google translated:

A diplomatic source in Seoul said, "We have been constantly communicating to the Ministry of Foreign Affairs that there is a risk of security problems if the US government uses Huawei products through various diplomatic channels. "We have asked for cooperation in the policy." The United States, which is in full control of Huawei due to trade pressure on China, has demanded that its allies such as South Korea join in.

U.S. State Department official told a S. Korean govt official that LG Uplus should not provide services in sensitive areas in the country and that S. Korea needs to ban Huawei in the end, though not immediately

For now, the pressure campaign has failed to generate success: while the Ministry of Foreign Affairs expressed its…
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Trump Wants To Sell Public Power Agencies To Wall Street


Trump Wants To Sell Public Power Agencies To Wall Street

Move Will Hand Over New Deal-Era Giants TVA and Bonneville Power; Much Higher Electricity Costs for the Public and Businesses

Courtesy of David Cay Johnston, DCReport 

People and businesses would pay much higher electricity prices under revived Trump administration plans to sell nonprofit electricity grids owned by taxpayers, killing one of the most enduring and beneficial policies of the New Deal.

Last year the Trump administration said it had abandoned plans to sell these taxpayer assets, built up during the Great Depression and fostering economic growth ever since.

But now the mercurial president is itching to sell Bonneville Power Administration in the Pacific Northwest, the Tennessee Valley Authority, the Southwestern Power Administration and Western Area Power Administration. The plan is at Page 38 of the latest Trump budget.

Raising electricity prices has been a consistent Trump administration policy.

These valuable taxpayer-owned assets would be sold at deep discounts to their net worth, essentially another Trump scheme to transfer wealth from millions of taxpayers to a relatively few and already rich Wall Street investors.

Energy consultant Robert McCullough

BPA transmission charges after a sale would rise by at least 24%, utility economist Robert McCullough calculated for DCReport.

TVA would experience a whopping 41.3% increase in transmission costs. Its annual rate of return on assets would more than triple under private ownership to almost 11%.

McCullough is a cheerful Oregon utility economist. He has a long track record of exposing utility industry cost estimates as low-ball fantasies designed to trick regulators and customers. He was formerly the chief economist for Portland General Electric, a for-profit Oregon monopoly.

BPA’s rate of return is 3.71% annually, while a Warren Buffet-controlled electric utility in Oregon, PacifiCorp, requires a return twice that high at 7.41% annually.

“A privatized BPA transmission system would be above 10%” on its required rate of return once corporate income taxes are factored in, McCullough calculated.

Three Times the Costs

TVA reports reveal its rate of return is

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The new NAFTA’s assault on public health


The new NAFTA's assault on public health

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U.S. President Donald Trump, Prime Minister Justin Trudeau and Mexico’s President Enrique Pena Nieto hold a news conference before signing the USMCA. The deal, if passed into law, poses dangers to public health. (AP Photo/Pablo Martinez Monsivais)

Courtesy of Ronald Labonte, University of Ottawa; Courtney McNamara, Norwegian University of Science and Technology; Deborah Gleeson, La Trobe University, and Eric Crosbie, University of Nevada, Reno

The negotiations were strained and at times it looked like it would be stillborn, but the USMCA (the new North American Free Trade Agreement linking the economies of the United States, Mexico and Canada) was signed in November 2018 and awaits ratification.

Its future is still uncertain. Although U.S. President Donald Trump finally removed tariffs on steel and aluminium imports from Canada and Mexico, something both countries and even some congressional Republicans were demanding for the deal to be ratified, Democrats in the U.S. are unhappy with its costly monopoly protection for new pharmaceuticals and weak enforcement measures for labour and environmental protection.

But beneath the political jockeying is a sleeper issue concerning public health that signals a bad agreement.

Health impact assessment

We undertook a recently released health impact assessment of the USMCA, focusing on three specific aspects of the agreement with direct or indirect health effects —pharmaceuticals, health and environmental regulations and labour and environmental protection.

For prescription drugs, the costs of which have risen dramatically since the era of patent protection in trade agreements, the USMCA contains provisions the Americans wanted in the Trans-Pacific Partnership agreement.

These provisions were suspended by the remaining countries when Trump pulled the U.S. out of that agreement. Now they’re back in, but with an even longer 10-year guaranteed monopoly for biologics, a new category of costly drugs used to treat cancers and autoimmune disorders. Generic equivalents known as “biosimilars” can cut the price by almost half.

Canada currently offers eight years of market protection for biologics; the additional two years could eventually add almost $170 million to each year’s drug costs. Hardest hit would be Mexico, which presently…
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Phil's Favorites

Behold, the power of compounding! And fall to your knees in the presence of its invincibility!


Behold, the power of compounding! And fall to your knees in the presence of its invincibility!

Okay, this one was really fun to make. I hope you like it. Make sure to let my bosses at CNBC know and maybe they’ll let me make more of these!

Reply to this tweet:

Here it is – the world premiere of my new video:

How to Double Your Money in the Market

Hope you love it!

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Zero Hedge

Latest China Tariffs Will Cost American Households $831 Per Year, Fed Says

Courtesy of ZeroHedge. View original post here.

It's tempting to believe President Trump's insistence that Chinese companies will bear the costs of US tariffs, but as a chorus of emergent trade experts have pointed out, this simply isn't true.

American consumers will bear at least some of the costs of the new tariffs, though the extent will depend on how companies react to the new taxes (that is, whether they will pass it on to consumers, tolerate the gross margin hit, or decide to rejigger their supply chains).


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Insider Scoop

Jefferies Sees 60-Percent Upside In Aphria Shares, Says Buy The Dip

Courtesy of Benzinga.

After a red-hot start to 2019, Canadian cannabis producer Aphria Inc (NYSE: APHA) has run out of steam, tumbling more than 31 percent in the past three months.

Despite the recent weakness, one Wall Street analyst said Friday that the stock has 30-percent upside potential. 

The Analyst

Jefferies analyst ... more from Insider

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 we believe a combination of Gann Angles, ...

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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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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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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


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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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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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...

Learn more About Phil >>

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>