Archive for the ‘ValueWalk’ Category

Everyone Else Is Selling Stocks, So Is It Time To Buy?

By Michelle Jones. Originally published at ValueWalk.

After a difficult few trading days in the beginning of the year, U.S. stocks are bouncing back with meaningful gains on Monday following Friday’s strong rally. The S&P 500, Dow Jones Industrial Average and Nasdaq 100 were all up by more than half a percent by midday. It looks like investors could be taking advantage of the end-of-the-year declines, but is this a wise time to be buying?

Trying to time the bottom of the market will almost always be a fool’s errand, but one firm suggests equities could have much farther to fall before they hit bottom in 2019.


Q3 hedge fund letters, conference, scoops etc

2018 is in the books

In their “Flow Show” report last week, Bank of America Merrill Lynch Chief Investment Strategist Michael Hartnett and team suggested that it is time to buy, but stocks probably aren’t yet at the “Big Low of ’19.” They calculated flows for each major asset. The U.S. dollar was up 4.4%, while cash was up 1.9%. Bonds were down 1.2%, equities fell 8.7% and commodities declined 13.1%.

They also said 2018 was the first year cash has outperformed both bonds and stocks since 2000. With a dramatic flourish, they described the stock market in 2018 as “Apocalypse Dow” filled with “horror” since the “Big Top of Jan’ 18.”

All that drama seems warranted since the global equity market has shed $19.9 trillion in market capitalization from peak to trough. They also said 2,055 of the 2,767 U.S. and global companies were officially in a bear market, and the world’s banks were pricing similar to the low levels observed in 2008.

Selling Stocks, Time To Buy  extreme bear

“Extreme bear” reading…

With all those declines, the BofAML Bull & Bear Indicator fell to 1.8, which Hartnett and team describe as an “extreme bear” reading. They also said their indicator has now triggered the first buy signal for risk assets since June 2016 when Brexit was hanging over the world’s markets.

Exactly one year ago, their Bull & Bear Indicator triggered a sell signal, they added.

Selling Stocks, Time To Buy

But not the “Big Low of ’19″

Even though the BofAML team says a buy signal has been triggered, they do believe stocks have further to…
continue reading





#1 Performing Global Macro Hedge Fund Sees More Shorts Opportunities Ahead As China Bursts

By Jacob Wolinsky. Originally published at ValueWalk.

Crescat Global Macro Fund update to investors on 1/19/2019

Crescat Global Macro Fund and Crescat Long/Short fund delivered strong returns for both December and full year 2018 in a difficult market. Based on Bloomberg reporting, Crescat had the number 1 and 2 performing US hedge funds in December and the number 1 and 3 performing US hedge funds for 2018.

Crescat Global

PublicDomainArchive / Pixabay

We are pleased to announce the official performance for our three strategies in 2018:

We see tremendous continued opportunity to capitalize on Crescat’s global macro themes and investment process in 2019. In our analysis, China remains the largest credit bubble the world has ever seen. We strongly believe it is now in the process of bursting and will lead to a major currency devaluation. At the same time, the US stock market has only just started to correct from truly historic valuations late in an extended business cycle. We remain committed to exploiting these themes that we believe have much further to play out to help our clients grow and protect capital in this challenging macro environment.

We see the recent run-up in the US stock market as nothing more than a bear market rally as supported by our 16-factor US equity macro model. Given our equity net short position in our hedge funds, it could be an opportunity for new and existing clients to add to Crescat’s hedge funds at the end of the month on a pullback. We are confident that the US stock market will be turning back down soon, possibly before the end of the month.

Please find the 2018 profit attribution by theme for the Crescat Global Macro Fund below:
Crescat is a global macro asset management firm. We develop tactical investment themes based on proprietary value-driven models. Our mission is to grow and protect wealth by capitalizing on the most compelling macro themes of our time. We aim for high absolute and risk-adjusted returns over the long term with low correlation to benchmarks.
Crescat’s firmwide global macro investment process applies to three Crescat strategies that have delivered strong long-term outperformance through multiple business cycles:

We invite you to visit our website for more information about our investment…
continue reading





The Competition For Capital Has Made Stocks Cheap

By Michelle Jones. Originally published at ValueWalk.

The new year is upon us, and now is the time many investors look at what 2018 was and prepare for what 2019 might be. Recession jitters are starting to pick back up again, especially now that the full picture of 2018 is in the books. But what if you could pick only one theme for 2018? Jefferies strategist Sean Darby and team have a suggestion which is especially timely given that it appears to mark the end of an era.

Competition For Capital

StockSnap / Pixabay

Volatility carries into the new year

This past year was one of extremes, and the markets ended it on a down note which has spilled over into 2019. The S&P 500, Dow Jones Industrial Average, Nasdaq 100 and other major stock indices were firmly in the red in the first few trading sessions of 2019, which marks a strong departure from what stocks were doing at this time last year.


Q3 hedge fund letters, conference, scoops etc

However, it now looks like the Federal Reserve has bailed out U.S. stocks. All major indices are rallying big time after Fed Chair Jerome Powell said in a panel discussion that they plan to be “patient” with upcoming interest rate hikes. Investors were also pleased with the better-than-expected jobs report.

Competing for capital

Jefferies strategists believe 2018 was dominated by a long-running competition for capital. In fact, they noted that for most of the last eight years, equities have had very little competition for capital from other assets except for fixed income.

Darby and team also feel that the “reach for yield theme” is starting to fade now because investors “can now place money on deposit with cash rates being ‘floated’ and raised every quarter or semi-annually.” They believe the fact that Treasury yields were climbing as quickly as money was pouring into equities created a competition for capital in October—which stocks ended up losing.

Based on today’s strong rally, it’s possible the competition for capital isn’t over yet, but it’s too early to tell whether equities will gain enough traction to prolong the battle.

Quantitative changes

The Jefferies team also pointed out that the fourth quarter brought a “perfect storm”…
continue reading





Whitney Tilson Wants You To Know He Might Not Be The Best HFM But His Finger Grip Is 95 Percentile

By Jacob Wolinsky. Originally published at ValueWalk.

Whitney Tilson’s email discussing his plans to climb El Cap and training his grip strength.

With my plans to climb the Nose of El Cap later this year, I’m starting to train for it: I joined a rock gym (Steep Rock Bouldering) a few blocks from my house and try to stop by for a half hour of climbing every other day, plus I bought the various exercise devices below.

Whitney Tilson Grip Strength

[REITs]

Q3 hedge fund letters, conference, scoops etc

One key element of climbing is grip strength, so I bought a grip strength measurement meter to measure my progress (pic below; $30 on Amazon). I just tested my right and left hands and they’re at 59.2 and 59.5 kg, respectively. I had no idea what that meant, so I Googled it and found the chart below and a different one attached (from Canada) – they’re slightly different, but I’m somewhere in the 90th-95th percentile for my age (52). I’ll be curious to see how much I’m able to increase this.

Whitney Tilson Grip Strength

PS—It’s fascinating to compare the men’s and women’s scores – a MASSIVE difference. Basically, top 5-10% women have the same grip strength as bottom 5-10% men.

Reference values for selected percentiles for maximum grip strength (in kilograms), by sex and age, based on reference equations for Canadians aged 6 to 79

Grip strength reference values for Canadians aged 6 to 79: Canadian Health Measures Survey, 2007 to 2013

Whitney Tilson Grip Strength

Whitney Tilson Grip Strength

The post Whitney Tilson Wants You To Know He Might Not Be The Best HFM But His Finger Grip Is 95 Percentile appeared first on ValueWalk.

Sign up for ValueWalk’s free newsletter here.





State Street Global To Focus On Human Capital Management In 2019

By ActivistInsight. Originally published at ValueWalk.

Larry Fink has a new letter for public company CEOs. Or rather, there are two different letters from Larry Fink – an interesting one, which was sadly revealed to be a fake – and a real one.

State Street Global

The real letter, which I suppose people should be more interested in, sees Fink effectively repeating last year’s entreaties for companies to define their purpose and pursue it, stressing a little more, perhaps, that this should be to the benefit of the bottom line and not to the detriment of profits. “[W]hen a company truly understands and expresses its purpose, it functions with the focus and strategic discipline that drive long-term profitability,” he writes.


Q3 hedge fund letters, conference, scoops etc

Aligned with this, but less remarked upon, was a letter from State Street Global Advisors earlier in the week. Substitute “purpose” for “corporate culture,” and you have a substantially similar approach; companies can differ, but their boards and senior managers must be increasingly fluent at explaining the intangible strengths of their businesses. Indeed, alongside old standards like governance, both State Street Global Advisors and BlackRock (and from my own observations, many others) will be focusing on the more easily defined “human capital management” in 2019 and beyond.


2019 is off to a bracing start. Many of the advisers I’ve spoken to this month say a lot is going on behind the scenes, which they usually do – but this time they really do sound tired.

At the same time, votes are scheduled for proxy contests in each of the next three weeks, giving us a first look at how campaigns might play out this year. For the record, between eight and 11 contests have either settled or gone to a vote worldwide in January or February over the last five years, according to Activist Insight Online – so the numbers are not especially high. Moreover, there hasn’t been a clear relationship between the first few volleys and how busy the rest of the year has been, suggesting that yearly trends are determined earlier – based on last year’s proxy season and market movements – or change rapidly throughout the year.

What can be said…
continue reading





Top 10 Fastest Growing Cities In The World Between 2019 And 2035

By Vikas Shukla. Originally published at ValueWalk.

Top 10 Fastest Growing Cities in the World

sarangib / Pixabay

New York, Tokyo, London, and Los Angeles are the world’s largest cities in terms of economic output. They are predicted to stay at the top for another couple of decades. But Asian cities are growing fast and the epicenter of global economic output is rapidly shifting from the West to Asian countries. A study recently conducted by Oxford Economics ranked the fastest growing cities in the world in terms of GDP growth between 2019 and 2035.

Top 10 fastest growing cities: All of them are in India

All of the ten fastest growing cities are from India. In fact, Oxford Economics said 17 of the top 20 fastest growing cities belong to the South Asian nation. The economic output of many of these cities will remain small compared to big Western cities such as New York and London. But Oxford Economics predicts the combined GDP of all Asian cities will overtake the combined GDP of all European and North American urban centers by as early as 2027.

Richard Holt, the head of global cities research at Oxford Economics, said India will dominate the global economic growth over the next couple of decades. The research group analyzed 780 cities to compile this list. Holt said cities – which are expected to grow at 2.8% a year between 2019 and 2035 – will drive global economic growth.

According to the International Monetary Fund, India has replaced China as the world’s fastest growing economy. Driven by a favorable demographic profile, economic reforms, strong domestic consumption, and foreign investments, India accounts for 15% of the global economic growth. It’s no wonder then that ten of the fastest growing cities in the world are all from India. Here’s the list, according to Oxford Economics.

10- Vijayawada, India

Vijayawada in the southern state of Andhra Pradesh also happens to be one of the world’s most overcrowded cities. Research firm McKinsey has described it as the “Global City of the Future.” Located on the banks of Krishna River, Vijayawada has a population of 1.9 million. According to Oxford Economics, its GDP would grow at an annual rate of 8.16% between 2019 and 2035. It means its GDP will go up from $5.1 billion in 2018 to $21.3 billion in 2035.

9- Chennai, India


continue reading





The SEC’s Unconstitutional Conditions Doctrine?

By Jacob Wolinsky. Originally published at ValueWalk.

Princeton, NJ – A new commentary by Crow & Cushing, the SEC’s Unconstitutional Condition, examines a lawsuit challenging the constitutionality of the SEC’s practice of prohibiting defendants who settle civil charges with the SEC from making any public statement, even an indirect one, which takes issue with the validity of the SEC’s charges.

Securities And Exchange Commission SEC

By U.S. Government [Public domain], via Wikimedia Commons

According to one study, the SEC settles 98% of the civil actions it institutes. In order to induce defendants to settle, the SEC customarily permits those defendants to say in the consent order that they neither admit nor deny the SEC’s allegations. In other words, the SEC does not require that you admit wrongdoing, but you can’t deny it either.


Q3 hedge fund letters, conference, scoops etc

On January 9, 2019, the Cato Institute, a libertarian think tank, filed an action in Federal Court in the District of Columbia challenging the SEC’s practice. The Institute, it tells us, has contracted with an author who was sued civilly by the SEC, consented to a settlement which bars public statements critical of the SEC’s practices and its lawsuit and, therefore, cannot publish his book. Then author, at least for now, must remain anonymous because of the settlement agreement he (or she) signed.

In a private dispute between private parties, a prohibition against disparaging an adverse litigant is perfectly proper and indeed commonplace—it is commonly referred to as a “non-disparagement clause.” The government, on the other hand, is bound by the First Amendment and may curb freedom of expression only where the state has a compelling interest to do so, such as in the case of child pornography.

The question which the Cato Institute’s case squarely projects is whether the consent of those that the SEC settles with to waive their constitutional right to free speech in exchange for the benefits the settlement affords them permits the government to do what the First Amendment otherwise forbids: to curb critical comments.

The question calls for application of a constitutional principle known as the “unconstitutional conditions doctrine,” under which the government may not exploit someone’s need for a benefit by conditioning the benefit on the waiver of…
continue reading





Disruption: Traditional Vs Digital Business Practices

By Jacob Wolinsky. Originally published at ValueWalk.

The idea of having a business of our own is a leap that some would call courageous, adventurous or a bad idea. The history of how businesses evolve and innovate around us is a fascinating journey. According to academia, Malaysia’s history in dealing businesses with foreign countries dates back to the year 1957, just before the independence day which produced a total revenue of 313 million sterling pounds which is RM 1.6 billion in today’s amount. Over 3 decades ago in 1988, the introduction of the internet had begun to revolutionise the Malaysian’s way of life. This was when the Malaysian Institute of Microelectronic Systems (MIMOS) started to set up their network system called Rangkaian Komputer Malaysia. In 1996 Telekom Malaysia Berhad (TMB) received a license to launch their services which was when TMnet was introduced to the Malaysians.

Digital Business Practices

Taken from ITU.int

In the December of 2000, it was recorded that the penetration had reached up to 17.2% which translates to 4 million users. Ever since the introduction of the internet, Malaysians were quickly evolving with the trend and same goes to the structure of the businesses. According to statista, the revenue earned on e-commerce alone in Malaysia is up to RM16.05 billion as of 2018.

[REITs]

Q3 hedge fund letters, conference, scoops etc

Entrepreneurs today have the ability to be born global in a matter of a few hours and a few clicks at the comfort of their own home. How you may ask? Today we see a variety of choices and opportunities to explore with the introduction and rapid popularity of e-commerce platforms like Lazada, eBay, Shopee and Alibaba.

Entrepreneurs can simply use the network which these platforms had built for potential consumers and business partners at their own advantage. That, to some entrepreneurs is why digitalisation of businesses is a preferred choice today. However, with the help of these platforms to make entrepreneurs born global, this would also mean that the competition will be tougher from the get go.

As technology continues to evolve, we can see disruptions occurring within businesses from the introduction of apps which replaced GPS devices to Grab Car disrupting the taxi business. But the question remains, does the introduction of e-commerce platforms mean that it would…
continue reading





Sam Zell Says Gold ‘Is A Good Hedge’

By Jacob Wolinsky. Originally published at ValueWalk.

Sam Zell, the founder of Equity Group Investments, says he bought gold for the first time in his life because “it’s a good hedge.” Zell also talks about the oil and energy markets. He speaks on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)

Sam Zell Gold Good Hedge

Sam Zell Says Gold ‘Is a Good Hedge’


Q3 hedge fund letters, conference, scoops etc

Sam Zell Says Liquidity Has Decreased ‘Significantly’

Sam Zell, chairman and founder at Equity Group Investments, discusses how declining liquidity impacts the real estate market. He speaks on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)

Zell Sees ‘Minimal’ DC Real Estate Impact From Shutdown

Sam Zell, chairman and founder at Equity Group Investments, discusses the impact of the partial government shutdown on real estate and how his firm approaches clients affected by not receiving paychecks. He speaks on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)

Sam Zell Says Liquidity Has Decreased ‘Significantly’

Sam Zell, chairman and founder at Equity Group Investments, discusses how declining liquidity impacts the real estate market. He speaks on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)

Sam Zell Remembers Vanguard’s John Bogle

Sam Zell, chairman and founder at Equity Group Investments, reflects on his dealings with and the legacy of Vanguard Group Inc. founder John Bogle who passed away Wednesday at 89. He speaks on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)

Zell Calls WeWork a Negative Example of Creating Unicorns

Sam Zell, chairman and founder at Equity Group Investments, discusses lease deals by the CEO of WeWork Cos. and what Amazon.com Inc. brings with its new campus in New York. He speaks on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)

Transcript

Sam we talked earlier that you’re buying a few refineries since 3PAR. What other energy assets are you interested in pursuing in the United States. We’ve been buying up stranded oil and gas. We’ve. Had some participations in. Ghana. And in this that. Can handle various plays that we think are interesting and we’re pretty comfortable. At the price of oil is not going down. I think I mentioned the one thing that the gold guy didn’t mention is the fact that the amount of capital being put into new gold mines is almost nonexistent.…
continue reading





Time To Buy? Tilson: If I Were To Pay Up For One Stock It Would Be This Retailer

By Jacob Wolinsky. Originally published at ValueWalk.

Whitney Tilson’s email to investors discussing ICR conference; Floor & Decor (FND); pot bubble; Brexit; Bezos’ divorce; China; drug prices; women investors.

Floor & Decor

1) I enjoyed my day and a half at the ICR conference in Orlando on Monday and Tuesday. I wish, however, that I had found more investment ideas, but instead found mostly a bunch of crappy dying retailers like Stage Stores, Stein Mart, Ascena Retail Group, Vince, Build-a-Bear Workshop, and Chico’s FAS plus some popular but overvalued companies that have crushed short sellers like Five Below, Planet Fitness, Domino’s Pizza, Shake Shack, Chipotle, and Wingstop. The latter was trading at 12x revenues when I pitched it as a short at the Robin Hood conference a couple of years ago – and now trades at 19x revenues! A good lesson on the dangers of valuation shorts – but, mark my words, this stock is going to be a dud going forward.


Q3 hedge fund letters, conference, scoops etc

If I were to pick one stock to pay up for, it would be Floor & Decor (FND). I first became aware of the company years ago when I was short Lumber Liquidators and saw that it was a formidable competitor with a far superior business model: 70,000 square foot superstores with a huge selection and inventory on hand (here is a link to their investor presentation). They have nearly 10% net margins, 30%+ returns on equity, consistent double digit comps, and are growth their store base 20% annually (currently 105 stores with plans to grow to 400). The stock has been cut in half in the last seven months, not due to any missteps by the company but rather concerns about the housing market. The stock, at 26x this year’s estimates, isn’t cheap, but if the company can sustain 20%+ EPS growth, which I think is likely, the stock will do well.

Lastly, I saw a bunch of cannabis companies: Tilray, Acreage Holdings, Cronos Group, Cresco Labs, MJardin Group and Green Growth Brands (which made the silly “bid” for Aphria). The good news for the sector is that there’s going to be a lot of growth and I didn’t detect any…
continue reading





 
 
 

Phil's Favorites

Global warming 'hiatus' is the climate change myth that refuses to die

 

Global warming 'hiatus' is the climate change myth that refuses to die

riphoto3 / shutterstock

Courtesy of Kevin Cowtan, University of York and Stephan Lewandowsky, University of Bristol

The record-breaking, El Niño-driven global temperatures of 2016 have given climate change deniers a new trope. Why, they ask, hasn’t it since got even hotter?

In response to a recent US government report on...



more from Ilene

Zero Hedge

"Elon Wants This Fat P*ssy": Azealia Banks Posts Text Message Flame War With Grimes

Courtesy of ZeroHedge. View original post here.

Just a couple of days ago we posted that subpoenas could be forthcoming for Elon Musk's ex-girlfriend, Grimes, and Musk’s one time houseguest Azealia Banks, as part of an investor lawsuit against Musk for last summer's "funding secured" fiasco. We said in the post that the discovery process in the case could lead to interesting information as to what was going on behind the scenes, and in the mind of the parties invo...



more from Tyler

Chart School

Bitcoin is entering the Dead Zone

Courtesy of Read the Ticker.

Bitcoin and the technology boom of 1990's have so much in common, you would think they are twins!

Previous Post: Bitcoin is so like 1979 silver

The chart below shows how similar each story is.

Mr Market knows this, therefore the desire to enter this market is low, and lower prices will plaque Bitcoin for the next 18 months at least. The supply of coins into this market will continue, and prices will continue to fall, there may be bear market rallies along the way, and the good news is the patient (yip that word) long term investors will have the chance to accumulate coins at pre 2017 bubble launch zones...

more from Chart School

ValueWalk

Everyone Else Is Selling Stocks, So Is It Time To Buy?

By Michelle Jones. Originally published at ValueWalk.

After a difficult few trading days in the beginning of the year, U.S. stocks are bouncing back with meaningful gains on Monday following Friday’s strong rally. The S&P 500, Dow Jones Industrial Average and Nasdaq 100 were all up by more than half a percent by midday. It looks like investors could be taking advantage of the end-of-the-year declines, but is this a wise time to be buying?

Trying to time the bottom of the market will almost always be a fool’s errand, but one firm suggests equities could have much farther to fall before they hit bottom in 2019.

...



more from ValueWalk

Kimble Charting Solutions

Stock declines did not break 9-year support, says Joe Friday

Courtesy of Chris Kimble.

We often hear “Stocks take an escalator up and an elevator down!” No doubt stocks did experience a swift decline from the September highs to the Christmas eve lows. Looks like the “elevator” part of the phrase came true as 2018 was coming to an end.

The first part of the “stocks take an escalator up” seems to still be in play as well despite the swift decline of late.

Joe Friday Just The Facts Ma’am- All of these indices hit long-term rising support on Christmas Eve at each (1), where support held and rallies have followed.

If you find long-term perspectives helpf...



more from Kimble C.S.

Digital Currencies

Transparency and privacy: Empowering people through blockchain

 

Transparency and privacy: Empowering people through blockchain

Blockchain technologies can empower people by allowing them more control over their user data. Shutterstock

Courtesy of Ajay Kumar Shrestha, University of Saskatchewan

Blockchain has already proven its huge influence on the financial world with its first application in the form of cryptocurrencies such as Bitcoin. It might not be long before its impact is felt everywhere.

Blockchain is a secure chain of digital records that exist on multiple computers simultaneously so no record can be erased or falsified. The...



more from Bitcoin

Insider Scoop

Cars.com Explores Strategic Alternatives, Analyst Sees Possible Sale Price Around $30 Per Share

Courtesy of Benzinga.

Related 44 Biggest Movers From Yesterday 38 Stocks Moving In Wednesday's Mid-Day Session ...

http://www.insidercow.com/ more from Insider

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 (...



more from Our Members

Biotech

Opening Pandora's Box: Gene editing and its consequences

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

 

Opening Pandora's Box: Gene editing and its consequences

Bacteriophage viruses infecting bacterial cells , Bacterial viruses. from www.shutterstock.com

Courtesy of John Bergeron, McGill University

Today, the scientific community is aghast at the prospect of gene editing to create “designer” humans. Gene editing may be of greater consequence than climate change, or even the consequences of unleashing the energy of the atom.

...

more from Biotech

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...



more from M.T.M.

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 ...



more from OpTrader

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

...

more from Promotions





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 >>


As Seen On:




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 >>