BTW Phil, I wanted to relate a conversation I had with my business partner yesterday. I told him that I have been much more relaxed about my investments ever since I joined your site. It's funny how a 15-20% cushion does to your nerves. My returns have increased dramatically and my risk diminished. Many thanks for the guidance and patience. Good thing I am doing better financially as you might have increased my life expectancy as well!
StJeanluc
GOOG, NFLX and AAPL all bought last hour Friday. Sold into the excitement the first hour today for an average of 15% on the options. And lots of them. Thanks again Phil for teaching me so well.
lflantheman
I have been a "silent" member for the past year, and am 1,000 hours into the 10K hours of training (The last week is worth at least 500 hours!). Made lots of mistakes and misunderstood quite a few of Phil's calls, … some actually made money when reversed. The chat (Including the politics) is very engaging (Many great minds with international coverage), and a great companion, while nursing a trade gone wrong, through the night. The webinars (despite technical difficulties) are extremely useful. Thanks for your coaching … it has made me a consistently profitable trader, with a better understanding of what I do not know.
Aquila
Phil, I don't know if I told you lately but you da man! I'm doing so much better following your guidelines. It's like you actually know what you are talking about. 8-) I've tried a lot of services and none of them are as comprehensive or honest AND successful. I appreciate all youz other guys/gals input as well…learning tons as a relative newbie to this game.
Aclend
Hey Phil – I ignored your call to sell those AAPL $580s for $1 so not sure whether to thank you or not (just kidding) for my $5 winner. Actually I want to thank you from the bottom of my heart, that was an uncanny call.
TheChaser
Nice intraday trading calls this week Phil. You have me hooked on trading SPY options analogously to your DIA moves. I paid some tuition the last few weeks but I think I have the hang of it. Don't be greedy and be happy with 0.05 to 0.10 and sometimes you're lucky with much bigger moves. Thanks for the training!
TmDecay
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
Phil/Eric/Cwan/Matt/Cap/etc.. - I've learned so much from all of you and want to thank you. I'm up 23% this month thanks to all of your advice - Thanks, guys!
Josiah
I have been a member off and on for years. Using these techniques I do consistently beat the S&P 500. Phil's Stock World has been the most important site in my financial life. It's impact on me over the past years has been huge. As have my tax bills!
Knightpilot
Boring trading – Phil/ Thanks to PSW, my yearly covered-writes are on pace for 15%. Add the long puts and well over 20%… and I look at it once a day and never lose sleep over it. Actually doing better than my trading account at this point (Thanks, summer 2013)
Anyway, the point is that anyone with enough money would be wise to do the 20% – 40% stuff and do trading as a hobby…
Arivera
I don't post much, but I guess this morning has brought me out. This site has made me tens of thousands, every year since I have become a member. It took me nearly two years devoting 3 hours per day to get on the ball, and actually understand portion sizing, and which trades fit my personal trading style. Before that I spent at least two years working on Buffet style fundamental investing. (Intellegent Investor, Security Analysis, ect.). This site really will teach you amazing things if you just pay attention. Literally it has changed my day to day life, has allowed my family and I to move back to the U.S. from overseas with confidence even with a paycut at my day job, and literally put me in a different league financially. Seriously my life and my children's is better because of this site.
Knightpilot
Best year I've ever had…sitting on a 52% YTD return. I would also echo Nat's shout out for Phil's talent. I've been a member for the 6 years or so. Just stay true to the strategy I've learned over the years of selling premium, keeping the bulk of my portfolio in long-term buy writes ("armchair" trades).
JJennings
Hello Phil,
Thanks for the heads up on the comming sell off on friday, and the bs job yesterday. your our guiding light!
Microflux
Phil, I followed your investing ideas in LTP quite closely. It seems your insightful fundamental analysis knowledge serves you v. well. I get entertained and they are profitable.
Investwizard
Phil - Your logic not only makes sense, but it made a lot of premium profit for me over the past 12 months. I have recovered much of the massive equity losses of last year. My Monday play is the sale of long term puts on FXI. Love the premium!
Gel1
I really would like to meet all of the posters here who seem like an intriguing bunch of intelligent, opinionated (without being obnoxious or condescending most of the time), and well spoken people. Not so easy to find in this age of instant gratification and me first attitudes. Usually this results in groups where misinformation is used to gain an advantage, or whatever it takes to beat the other guys. I love the one for all, all for one vibe here, sharing your best ideas and helping each other work together for a common goal, to be successful investors!
craigsa620
I'm just starting my second year as a member, and I'd like to thank all of you for sharing your trading ideas and insight, and especially Phil of course for great all-around investing advice as well as trades! In addition to learning patience and profit-taking, I think one of the most important things I'm learning here is to stick to stocks and trades that suit my temperament. And wow, I had NO idea how hard it was to learn patience. I should say "practice" instead of "learn", because it seems to be a constant struggle. Phil, please keep reminding us how nice CASH is!
Jerseyside
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
Phil: UNH, hedged stock position, doing great, up over 50 %,
RMM
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
Nice call on the QQQ puts this morning Phil. I bought 10 at .13 this morning for fun day trade. Just closed at .95. Sweet hedge for the day!
RevTodd64
I have been here for 8 yrs, and find it the best service out there. There are more eyes on the market in this forum than anywhere, and opinions abound. So, relax, and let the group help you out.
Pharmboy
Phil - Wow…wow. The vision and inate grasp of the options world you posess is rather staggering. It's this type of experience that I really hope to develop. I'm afraid I still can't see the moves, but I WILL learn. I cannot thank you enough for the patience, knowledge and effort you put into this place. Please keep it going!
Where
Phil Thank you very much, I appreciate your help and wisdom.
CdsdpDean
What a great post today, Phil. A veritable feast of ideas! I've been reading your posts for years and have modeled my whole trading style after yours. You should be taking 2 and 20 off of me at this point ????
Jablams
I am not a user of phil's site now, but was for a couple years. His advice and information is excellent. Perhaps even better, you get access to real-time trades of additional traders on his site (OptTrader, etc) and the other members who post what they are buying and selling. Overall, its a very valuable information tool. Expensive, but paid for itself many times over. I did not renew my membership because I switched jobs and did not have time to trade nearly as much.
XRTrader
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
Joined last year and and started profitably trading options thanks to everything I have learned here. THANK YOU!!
OnWisconsin
Probably the best approach and method I have ever seen for the public and I have worked for some serious traders at the biggest houses doing research. Those guys all have various forms of inside info that you and I do not and cannot have. Davis simply has a great system based on a very deep understanding and experience that gives him market savvy that is very real. A very smart guy and he shares it for a fee. He knows how to use options to great advantage and make money trading.
DowntoEarthThinking
Phil: I loaded up big time yesterday on your suggestion of the AMZN September 75 naked puts. They are up 43%!
Yes, we know, and Bernie Madoff agrees; Timothy Naegele has thought so all along. Who’s Timothy Naegele? Read my interview with him to learn more. – Ilene
Convicted swindler and consummate narcissist Bernard Madoff is serving a 150-year sentence at the Federal Correctional Institution in Butner, North Carolina for his $65 billion Ponzi scheme. He was interviewed by New York Magazine, and its terrific article states in pertinent part:
From the beginning, Madoff . . . had a chip on his shoulder, along with a certain contempt for the industry he’d chosen. “It was always a business where you had to have an edge, and the little guy never got a break. The institutions controlled everything,” he said in a voice surprisingly thick with emotion. “I realized from a very early stage that the market is a whole rigged job. There’s no chance that investors have in this market.”
. . .
At first, Madoff ground out a modest but steady income on the scraps of business tossed his way by Goldman Sachs and Bear Stearns, action that was too much trouble and too little profit for them. “I was perfectly happy to take the crumbs,” he said. Madoff was a market-maker, a middleman between those who wanted to buy and sell small quantities of mostly bonds—odd lots. “It was a riskless business,” he said. “You made the spread,” buying at one price and selling at a higher one, and in those days the spreads could be substantial, 50 or 75 cents or even a dollar a share. Madoff increased his profits by trading on the side.
. . .
Madoff wanted to grow his trading business, and a good way to do that was to expand his market-making business. But that meant going up against the New York Stock Exchange, the heart of the club. At the NYSE, a few firms controlled market-making, executing most large trades while getting rich on the spread. Madoff was one of the first to see that technology could match buyers and sellers more efficiently and cheaply than a human trader shouting orders amid a blizzard of paper on the floor of the exchange. By 1970, Madoff had hired his brother, Peter,
Citigroup ignored warning signs of Bernard L. Madoff’s Ponzi scheme, and a bank executive knew the con man’s stated trading strategy couldn’t generate the reported returns, the trustee liquidating Madoff’s firm said in a lawsuit.
The unidentified Citibank executive, who was responsible for making recommendations to clients on derivatives, “concluded” by June 2007 that returns reported by a Madoff feeder fund, Fairfield Sentry Ltd., couldn’t have come from the strategy, trustee Irving Picard said in a complaint unsealed yesterday. The executive reached his conclusion after meeting with analyst Harry Markopolos, a whistleblower who also alerted U.S. regulators to the fraud, Picard said.
The Citibank official later communicated with Markopolos orally and in writing, specifically discussing the fraud before the Ponzi scheme was exposed in December 2008, Picard alleged.
“Citi knew, and was on notice of, irregularities and problems concerning the trades reported by BLMIS, and strategically chose to ignore these concerns in order to continue to enrich themselves,” Picard said in the complaint, referring to Madoff’s firm, Bernard L. Madoff Investment Securities LLC.
Picard laid out in the complaint details of a lawsuit he filed under seal in December against New York-based Citigroup and other banks. He is demanding $425 million from Citigroup – money it received “in connection with” a loan to a Madoff feeder fund and a swap transaction with a Swiss hedge fund linked to a second feeder fund, Picard said.
We first got an inkling of Picard’s filing from this Bloomberg story in December.
Citigroup, Bank of America Sued by Madoff Trustee
Citigroup Inc.’s Citibank, Bank of America Corp.’s Merrill Lynch unit and five other banks were sued by the trustee liquidating Bernard Madoff’s firm to recover more than $1 billion for the con man’s defrauded customers.
The banks, which include Natixis SA, Fortis Prime Fund Solutions Bank (Ireland) Ltd., ABN Amro Bank NV, Nomura Bank International Plc. and Banco Bilbao Vizcaya Argentaria SA, received money through Madoff feeder funds when they knew, or should have known, that Madoff’s investments were a fraud, the trustee, Irving Picard, said yesterday in a statement.
Picard, who faces a two-year legal deadline that runs out Dec. 11, has filed hundreds of suits in the past month, seeking more than $34 billion from banks, feeder funds, investors and others alleged to have profited from Madoff’s decades-long Ponzi scheme, the biggest in…
Here’s the hypocrisy of the Financial Industry Regulatory Authority* (FINRA); it dumped a portfolio of Auction Rate Securities* (ARS) before the ARS market froze up in early 2008. People are asking legitimate questions and FINRA is refusing to answer. When FINRA wants its questions answered, it knows how to get the answers through its subpoena power. Why won’t FINRA fess up and be transparent about its dealings in the ARS market?
I recently caught up with my friend Larry Doyle and asked him whether there had been any progress in uncovering the events behind FINRA’s timely liquidation of its ARSs in 2007 since our last conversation. Here’s a transcript of our conversation about FINRA and FINRA’s ARS sales. Larry touches on a number of important topics including transparency, the incestuous relationship between Wall Street and Washington, the absurdity of self-regulation and twisted logic of granting a quasi-government entity government-style immunity, while allowing it to be free from the reach of the Freedom of Information Act.
FINRA’s Timely Auction-Rate Securites (ARS) Sales
Before we continue, please read my previous interview with Larry Doyle here. Excerpt:
"The ARS market operated smoothly until the credit markets seized up. First signs of trouble emerged in 2007 when the spreads started to blow out (widen significantly). Spreads widened because dealers realized the true nature of the risks and backed away from supporting the market. Selling intensified as investors were trying to get out in the late spring and summer of 2007. Investors stopped buying, though the dealers maintained an intermediary market for a while. Finally, sellers so overwhelmed buyers that Wall Street had to stop serving as an intermediary. This developed over a period of months, but was not shared with the clients. Wall Street was trying to lay these ARSs out on investors. When the market collapsed in February 2008, the “cash equivalency” disappeared."
[...]
Going into 2007, FINRA had $647 million dollars of ARSs. It was holding ARSs as the credit markets started to freeze in mid 2007. FINRA says it did nothing nefarious when it sold its ARSs. But that fails the smell test. It sold its ARS holdings before the markets collapsed. Meanwhile, investors got stuck with approximately $150 billion of ARSs.
One would have to be exceptionally naïve to think FINRA officials did not have material,
Sam Antar, former CFO of the criminal enterprise "Crazy Eddie," will tell you all about his crimes while insisting he will burn in Hell. He now teaches accountants, lawyers, and FBI agents about white-collar fraud and how to catch white-collar criminals. I met Sam in Portland, at his seminar for healthcare fraud investigators.
Sam opened his lecture by asking the audience, “Can anyone guess why I’m here?” A man in the audience suggested “because you got caught.” (That was the first correct answer in twelve years.) Sam, who was energetic and seemed to be enjoying himself, spoke of Crazy Eddie, fraud, and the investigators charged with bringing criminals to justice. Below, I've posted a summary of Sam's presentation followed by our interview and some background information.
1. Presentation
About fraud
All fraud is basically the same. All fraud is personal in nature. It’s done on a one to one basis. Your humanity, ethics, and sense of fairness are weaknesses that we – white collar criminals – seek to exploit. We have no morality. The more likable and friendly we are, the easier it is for us to commit our crimes. We build walls of false integrity. You never know who the real person is behind a criminal’s carefully choreographed wall of false integrity. Bernie Madoff had a wall of false integrity around him and the lawyers investigating him at the SEC were enamored by his status. That’s why they didn’t properly follow through on whistleblower Harry Markopolos’s tips about Madoff’s criminal activities.
Punishment does very little to prevent crime. It’s not a great deterrent. Criminals don’t stop because they see other people getting caught. While Bernie Madoff committed his crimes for almost two decades, he saw many other criminal get caught. Did that stop him?
When I cooperated with the government it was only to save my own skin. I only cooperated with the US Attorney’s Office, the FBI, the SEC, and lawyer representing victims of my crimes because I did not want to bend down
Here’s another great gem we just found in the big SEC document dump on Madoff [below]. It concerns the independent fraud investigator Harry Markopolos, who tried for years and years and years to blow the whistle but tno avail. How were his efforts viewed in the SEC? Basically, they dismissed him as an anti-Bush crank.
The SEC just made a MASSIVE document dump related to its failure to catch Madoff. Of course, it’s all embarrassing, so it’s on a Friday afternoon, when everyone’s too lazy to go through it. There are 536 documents in total. Joe Weisenthal
Jerry Brown, California’s Attorney General, is tying himself to just about every problem stemming from the financial crisis.
Overkill? Perhaps. But Brown is probably running for governor.
Today, Brown wrote at the Huffington Post about Beverly Hills financial adviser Stanley Chais, who pocketed some $270 million over the decades by feeding money to Bernie Madoff.
"Sadly, the rise of super-sized swindlers like Madoff and Chais was inevitable given the mindless deregulation-mania of the last decade — abetted and made possible by a complicit Congress, SEC, and inattentive White House," Brown writes.
Last week, Brown piled on to the rating agency bashing, launching an investigation into their role in fueling the financial crisis and subpoenaing Standard & Poor’s, Moody’s and Fitch to determine "whether the firms violated California law when they recklessly gave ‘stellar ratings to shaky assets.’"
In April, Brown Jr. today filed suit against three Wells Fargo affiliates to recover $1.5 billion for California investors who purchased auction-rate securities based on "false and deceptive" advice that these financial instruments were "as safe and liquid as cash."
Want more? Check out these press releases: there are suits against predatory lenders, health insurers acting badly, mortgage scam artists, and many more, almost one ever other day.
Bernard Madoff arrives at federal court in New York, Thursday, March 12, 2009.
Mary Altaffer / AP
A long-awaited report from the Inspector General at the Securities and Exchange Commission concludes the SEC received six "substantive" complaints between June 1992 and December 2008 that could have uncovered disgraced financier Bernie Madoff‘s Ponzi scheme as far back as 1992 if it had "properly examined or investigated" Madoff’s trading practices.
In a 450-page report, released Wednesday, the report outlines a series of fumbles, where SEC staff either failed to follow up on complaints, wrongly accepted Madoff’s confusing and inconsistent answers to questions or, in some cases, involved junior staff who didn’t understand options trading and Ponzi schemes.
"Despite three examinations and two investigations being conducted, a thorough and competent investigation or examination was never performed," the report said.
The report said at least six complaints raised questions about Madoff’s trading practices, with some even suggesting a Ponzi scheme was involved. They questioned "Madoff’s incredible and highly unusual fills for equity trades, his mispresentation of his options trading and his unusually consistent, non-volatile returns over several years," and how Madoff’s alleged strategy and purported returns could not be duplicated by anyone else and had "no correlation to the overall equity markets in over 10 years." One tipster even nudged the SEC that "it may be of interest to you that Mr. Madoff keeps two sets of records — the most interesting of which is always on his person."
Yet, SEC staff failed to adequately follow up or seek third-party verifications on the trades, the report said. In many cases, the report said, "an inexperienced examination team" was assigned the investigation, many of whom were not familiar with trading practices and simply accepted Madoff’s explanation that he used his "gut feel" to time the market based on "his observations of the trading room." According to the report, examiners stated "there was no training" and that "this was a trial by fire kind of job." It also stated that examination team was "composed entirely of attorneys, who … did not have much experience in equity and options trading’ but ‘rather, their experience was in general litigation.’" (See pictures of a Madoff family album.)
So remember how we wondered whether Frank DiPascali was getting enough from the feds for his cooperation in the investigation in Bernie Madoff’s scam?
Well, it turns out that part of his deal is having the feds overlook his history of taking illegal drugs, carrying an illegal firearm right up until the time of his arrest and reporting that he had no income during a year when he earned $4 billion.
According to documents released yesterday by federal prosecutors, DiPascali, the former CFO at Madoff’s investment firm, agreed to spill the beans about Madoff in part to guarantee the feds didn’t go after him on "use of controlled substances prior to 1992" and for possessing illegal firearms up until last Friday.
The 52-year-old Queens native, who is cooperating with prosecutors in the Madoff scandal, is also avoiding criminal prosecution for evading taxes, the documents show.
Indeed, DiPascali cheated Uncle Sam out of several million dollars between 2002 and 2007 through a number of shady schemes, including depositing his income into accounts under other names and filing false returns. In 2006, for example, DiPascali reported zero dollars in taxable income even though he actually earned $4 million that year. He also reported no income in 2002 and 2005.
Memo to regulators: be forewarned about frauds in the credit-default swap market. They’ll make Bernie Madoff’s $65 billion fraud "look like small-time."
That’s what Harry Markopolos — Madoff’s whistleblower ignored by federal investigators — is saying anyway.
New York Post: [Markopolos] says there are evildoers out there who will make the Ponzi scum "look like small-time." Markopolos gave a speech to 400 of the faithful at the Greek Orthodox Church in Southampton and predicted major scandals will soon be revealed about the unregulated, $600 trillion, credit-default swap market. "To put it in simple terms, it is like buying fire insurance policies from five different insurance companies on your neighbor’s house and then burning down the house," he said.
It’s not clear if there are frauds that he knows of, specifically, that he’s not disclosing publicly, or if it’s just his how the market works — in which case, he’s basically just parroting what a lot of people who hate "naked" CDS have been saying. Either way, we suggest Mary Schapiro or the CFTC pay him a call and get a clarification.
The upcoming issue of Vanity Fair portrays the lives of Bernard Madoff’s sons and asks "Did The Sons Know?" Mark and Andrew Madoff feel betrayed by their father, David Margolick writes for Vanity Fair. Page Six today highlights some of the juicier details:
Blame mom as an enabler. Andrew and Mark Madoff aren’t speaking with their mother Ruth Madoff. They don’t suspect that she was involved with the scheme, but they believe her tendency to side with Bernie regardless of the the circumstances enabled his crimes.
Avoding using the Madoff name. Andrew Madoff and his fiance Catherine Hooper (pictured with a fish, above) use her name when making restaurant reservation. Andrew’s estranged wife, Deborah, orders groceries from FreshDirect using her maiden name.
Excessive self-pity. * Jeff Wilpon, whose family owns the Mets and lost hundreds of millions in Madoff’s scheme, remains friendly with Mark Madoff. But that is being strained by Mark’s "excessive self-pity. "
Strained relations. Hooper gave Andrew a birthday card in April that said, "Hope you have a fun day doing all the things people in prison wish they could do." When Andrew told her that his real wish was to have his parents back, she shot back, "Yeah, they were a really nice idea."
When Andrew complained to an African American friend that he is unemployed, broke, and "just trying to stay out of jail — my name is mud," his friend replied: "Well, now you’re just like every black man in America."
There’s more at Page Six, including the shunning of the Madoff grandchildren by classmates at the New York City private school, Dalton. If this sampling is any indication, we really can’t wait to read Margolick’s full piece in Vanity Fair.
Reuters reveals that the article says Mark Madoff scrutinizes every story and blog on the scandal. Andew, on the other hand, appears to have detached himself emotionally. He calls the situations "a father-son betrayal of biblical proportions." Cue the violins!
Welcome to Big Trends Monthly with Josh Brown and JC Parets of All Star Charts. We’re breaking down the latest monthly closing candlestick charts to reveal the most meaningful market moves around the world. In this episode:
The rotation into small caps and mid caps is the most important chart of the year
German stocks are making new all-time record highs, Europe will follow
"Georgia elections director yesterday: Trump's rhetoric is going to get people killed. Trump today: here's 46 minutes of unhinged conspiracy theories."
Activists march through the city of Detroit on November 7, 2020 to denounce President Donald Trump's false claims of voter fraud. (Photo: Adam J. Dewey/NurPhoto via Getty Images)
The steep drop towards the end of the session shows that stocks could be vulnerable to negative catalysts following November’s lofty gains. Even though the S&P 500 and the Nasdaq both hit new record highs today, the rally lacked momentum, and Pfizer’s concerning announcement was enough to erase the major indices’ gains.
The surprisingly positive stimulus developments...
US stocks tumbled during the final hour of trading Thursday as Pfizer revealed that it expects to ship half the number of vaccines this year, raising new questions about the optimistic projections and expectations for the pace of vaccinations.
The company cited supply chain delays tied to the fact that the company has found raw materials in early production that did not meet its standards.
It still expects over 1bln doses rolled out in 2021
"Scaling up the raw material supply chain took longer than expected," a company spokeswoman said. "And it's important to highlight that the outcom...
The Dow Jones Industrial Average has survived several market scares over the past 5 decades, including the 1987 crash (Black Monday), Tech Bubble, Financial Crisis, and Coronavirus crash.
In a very noisy, news-driven world, sometimes it pays to simply zoom out on the charts and stop thinking about trading every headline.
Today’s chart is a “quarterly” chart of the Dow Jones Industrial Average (spanning the past 50 years). It includes some relevant Fibonacci price levels for active investors to consider; we apply Fibonacci to the quarterly lows of 1974 and the lows of 2003 and 2009 (that being 100%)....
A few reasons for Bitcoin’s return to the record highs. It’s about $18,500 as of this writing, matching the previous highs from 2017’s original explosion.
Reason one: It’s going up because it’s going up. Don’t scoff, this is the reason most things in the markets happen and then the explanations are called for afterwards. I’m in financial television, I have literally watched this process occur in real-time. The more something moves in a given direction, the more peop...
By Jacob Wolinsky. Originally published at ValueWalk.
There is no doubt that the use of technology to support client engagement initiatives brings both opportunities and threats but this has been brought into sharp focus this year with the COVID-19 pandemic.
The crisis has brought to the fore the need for firms to enable flexibility in client engagement – the expectation that providers will communicate to clients on their terms, at their speed and frequency and on their preferred channels, is now a given. This is even more critical when clients are experiencing unparalleled anxiety from both market conditions and their own personal circumstances.
Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels. This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.
This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...
The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign.
Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...
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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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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coordinator for PSW.