Phil/USO Adjustment~~ Thanks for showing us the make it even (maybe even profitable) tricks for 'fixing' a losing position. I would have never known the trick if you didn't explain it. The option adjustment techniques are very helpful. Trading stocks would probably never offer that kind of flexibilities! Thanks!

Investwizard

I thank you for the years of being my teacher, always took the time to answer my questions. You are the BEST !

QCMike

Phil, you are the man. My positions in ABX and CLF are up massively this year, and doing very nicely with USO and UNG. TSR is another winner. Just waiting for the TSLA short now!

Rookie IRA Investor

Brilliant covering of the arcane, the profane , but never the mundane! Easy to understand the reason for your huge following, Phil, and why you have become a must read on my daily agenda. Please accept my complete appreciation.

Seeking Truth

WOW!!!!!!!!!!!! How will I ever do anything else in my life that will compare to the wild ride you get trading an ultra etf in the most volatile sector in the stock market the day before option expiration?

Matt1966

Best day ever trading the futures, thanks to Phil's excellent call this am, and his "play the laggard" instruction. Well done Phil!

Deano

Thanks for the USO mention, Phil, 140% on my USO lottery ticket in 12 hours, and no hesitation in taking the money and running — you have trained us well. Sometimes it's teaching, but with this kind of stuff, where you get whipped like a dog if you let 250% profit melt away, it's definitely training. Happy Fourth!!!

Zeroxzero

Market manipulation…. One of the things I've gained from this site is the concept of market manipulation. I never thought it was so prevalent, but now I know it is. I actually consider its effect when I make trades. Several days ago, when AAPL was moving toward 220 I sold 210 calls. My reasoning was that they will probably pin this month at 210. They came in big time as the stock moved ever closer to 210. I agree with Phil's comment that one of the things we need to do is find out what they are manipulating, and how, and hitch a ride. They are doing this with several equities. I've actually seen one article describing several equities that were being manipulated to pin at expiration each month, and describing how it was done, and of course Phil has described it well. In some ways it's easier to figure this out than it is a ‘normal' market behavior, and thus easier to make money in certain equities.

Iflantheman

I want to thank you for sharing your wisdom with us. I've learned a lot (and still am) about your trading strategy, but also I see a man who truly cares about our country, America. Thank you.

Autolander

The legendary Phil Davis has done it again with his call to "get out of the market now" (12/05/2017). Congratulations Phil, and while I am at it, I again would like to Thank You for your advise given me in March '09, when you said "unless you believe the world is coming to an end, then get in this market with both feet"...... and what a ride that was !

1234gel

Well that was a fun day. Cashed out my GS 140 calls for about 35% profit and my AAPL calls for 38% gain. Not bad for 40 minutes of work. Back to 85% cash.

Singapore Steve

I started with $250,000 in cash as of Oct 1 and have realized gains of $81,000 thru close of business. And that's in an IRA with no margin or naked trades. Whenever you are in Argentina or Chile I owe you a drink. I'm looking forward to it.

Denlundy

SPY/Phil, I took a big swing on January 26th following your advice to another member and bought 1615 contracts of Mar 185/190 BCS on SPY that will expire ITM today paying $290,700 on the $500k bet. I thought it might be fun to see what a winning trade looks like. Great call on your part and looking back it seems pretty obvious.

Sibe14 (premium)

Phil - Moved today to send kudos. You're in my top 5 to see/read daily. I do not trade... but as former econ-finance adjunct faculty near Stanford U. I give you lots of attaboys.... and provide your links to many to spread some understanding of the mess we are in. Best to you and yours,

HJ Kobbeman

Started my membership in mid-Oct and have since then learned so much about options by reading the site's articles and postings, members' chats and suggested trades – as a bonus, the articles are entertaining as well! Phil's long-term investing strategy makes really good sense as I've seen its effect on my GLW positions. Phil – thanks for sharing your knowledge of the market! I've worked as risk analyst for the investment dept of a $19B insurance company, and the scope and depth of your daily commentaries blows away what I have seen and heard from the PMs and even the chief investment officer! Most of all, I will continue to be a member because you have your priorities right (from my POV) – it's not all about money and power.

Bai2r

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

10/15/2014: Phil…..been travelling more than not but reading and watching you guys every night. This is to say a big thank you. Even though I don't have the time to trade every day now I set up hedges and base long term strategy on PSW. I now it may sound like BS to some readers but my 401k is down a mere 3%. It hardly gets my attention when I open my brokerage portfolio accounts. And that is by using your longer term hedges and strategies. I don't need to be a day trader to take advantage of PSW. At this time in my life when I cant trade every day……. not losing what we've gained moves front and center. It's just a great feeling to watch your brokerage account hold steady in a sea of red. Thanks Teacher.

Livingfull

I have been very fortunate over the years as an investor. Last year was on of my best in terms of percentage gains. I have to attribute much of this success to my membership in PSW which gave me the best education available anywhere when it comes to the understanding of option trading , discipline and general trading strategies. I will be forever grateful to Phil and the many "highly skilled" traders that have offered their advice.

Gel1

Man, what a week: Bought C at 1.40, sold half at 1.59 (relatively big position), another quarter at 3.04 just now. Ran SKF down from 270 with one April put, still holding some 115's expiring in a couple days. I'm going to gamble this position like a champion Friday. Bought FAS at all sorts of levels and started cashing out. Long HOV, stock and some nickel calls for fun - Mocha up your buy-out from 5 to 8 and that's 10,900% return for the May-2.50's . Ha!

Biodieselchris

PSW AC Conf: For those who may be on the bubble, I attended my first PSW LV in November. It was a real eye-opener. What I accomplished in a couple of days of exposure to Phil, Pharm, Craig, et al made my previous couple of years of hanging around the web site seem silly. If you are inclined in the slightest, you really should go. Just rubbing shoulders with other PSW members proved to be really valuable. Strictly on the basis of value, it's a great deal. You will have real time conversations with Phil and the gang and they will get to your questions and agenda items.

Mjjwo9b

I've been trading/investing since the early 80's (my dad started me out young). I've had seven figure accounts (in the past) and I've done lots of trading, so I can say that I'm a well seasoned investor. Phil is the real deal. His trades make sense and his strategy is sound. He sees things that others miss and he's one of the best at finding price anomalies. When he makes a mistake, he has an exit strategy already planned. He hedges very well and he has an instict which tells him to go to cash or to be all in.

Autolander

Phil, i wanted to thank you again for helping me protect future stock allocations at work - finally, i feel like i am owning my own destiny with stocks vs. letting the market dictate what you get – thanks again.

Nramanuja

Greetings Phil, I am an Economist at Harvard and some of my colleagues and I would like to let you know that we follow your posts on SA, and find your analysis refreshing, rigorous, and acute. Great work! Though many of us (including myself) have our work covered in the Wall St Journal, in many ways your macro commentary is more fearless and accurate than what is generally found in that venerable publication. Kind regards, Daniel

Daniel

Phil, thank you for the thorough response(s). I joined this group last week to take my education to the next level. the school i am involved with very good at calling out levels but very little live trading and little help in managing a position going against you. I like the combo of knowing where the major levels are coupled with your approach to getting in. learned a lot this week. thank you!

DawnR

Your discussion during your web seminar on SPX and SDS today was great. It really let me see how you look at the numbers and use the 5% rule to see where inflection points occur and what the bands look like. This was incredibly helpful. I actually sold out of my small short position at a good profit ( which was more a bet on a short term fluctuation rather than a hedge after listening to you) and will look more deeply at my portfolio and how to hedge it. In addition your view on hedging was also very helpful looking at the leverage you can get w/ a small spread, and protect portfolio against a big move against me. Thank you for your sharing this. Very helpful.

Batman

Great calls this week!

SNS1

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

Thanks, Phil!!! I just crushed today with it with silver (SLV) calls today, thanks to your persistent reminders of how ridiculously cheap it has become, and watching my TSLA this week $240 puts dissolve into chump change added an extra note of amusement.

Zeroxzero

Phil, I wanted to thank you for all of your teaching, advice, and guidance. Because of you I don't chase, don't worry about missed chances, and play things much more selectively. Yesterday's /ES and /TF and today /CL are my first futures plays of the month. Thanks Phil. (Out of /TF and /ES yesterday with a nice gain)

Japarikh

Aapl/Phil Thanks for your advice, always appreciated. So, not so much a tax issue, but more to protect against a 5% or greater drop. Here is what I did before their earnings…sold 25% of my stock at 147.50 Against the rest, I sold the June $140 calls for $8.25, protecting down to $140 if needed. And just for fun, I bought the weekly $145 puts for $1.50( small price to pay if they bombed on earnings) So, overall, I am happy with the insurance I was able to 'generate' for 1% of the price of stock. Now, depending on what happens, I have the luxury of deciding and being in the driver's seat with respect to whether to sell and buy your spreads or not. Having done all that meandering, I must say it was fun! More important, I could not have done something like that 2 or 3 years ago and reading and thinking about your teachings has been a tremendous asset. Thanks!

Maya1