Posts Tagged ‘Congress’

Friday – NYMEX Terrorists Stop Delivery of 144M Barrels of Oil to US!

Help, we're being attacked!  

Not by foreign terrorists, but by the market manipulators who trade at the NYMEX and FAKE Billions of barrels of orders each month in order to drive the price of petroleum higher for US Consumers.  Not only do the FAKE demand during the month, but they also then CANCEL the FAKE orders in order to create ARTIFICIAL supply shortages – just ahead of the summer driving season.  

This is Financial Terrorism of the highest order yet our Government sends no troops out to the trading floor and orders no drone strikes on the ivory towers where the Banksters mastermind these attacks on the US economy every month, costing American Citizens hundred for Billions of Dollars every year in excess energy costs.  

Last Friday, I told you that the 172,551 open contracts that guaranteed delivery of 172,551,000 barrels of crude to the US in July were FAKE and that all but 20,000 of them would be canceled by today.  This morning, there are only 28,550 open contracts remaining.  That means that 144 MILLION barrels of oil that were scheduled for delivery to supply the US in July have been CANCELED, in order to create an artificial shortage of 36M barrels per week next month.  

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“The People Vs. Goldman Sachs” – Taibbi’s Magnum Opus

Courtesy of Tyler Durden

By Matt Taibbi in Rolling Stone Magazine

The People vs. Goldman Sachs

They weren’t murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye. But then they went one step further. They came to Washington, took an oath before Congress, and lied about it.

Thanks to an extraordinary investigative effort by a Senate subcommittee that unilaterally decided to take up the burden the criminal justice system has repeatedly refused to shoulder, we now know exactly what Goldman Sachs executives like Lloyd Blankfein and Daniel Sparks lied about. We know exactly how they and other top Goldman executives, including David Viniar and Thomas Montag, defrauded their clients. America has been waiting for a case to bring against Wall Street. Here it is, and the evidence has been gift-wrapped and left at the doorstep of federal prosecutors, evidence that doesn’t leave much doubt: Goldman Sachs should stand trial.

The great and powerful Oz of Wall Street was not the only target of Wall Street and the Financial Crisis: Anatomy of a Financial Collapse, the 650-page report just released by the Senate Subcommittee on Investigations, chaired by Democrat Carl Levin of Michigan, alongside Republican Tom Coburn of Oklahoma. Their unusually scathing bipartisan report also includes case studies of Washington Mutual and Deutsche Bank, providing a panoramic portrait of a bubble era that produced the most destructive crime spree in our history — "a million fraud cases a year" is how one former regulator puts it. But the mountain of evidence collected against Goldman by Levin’s small, 15-desk office of investigators — details of gross, baldfaced fraud delivered up in such quantities as to almost serve as a kind of sarcastic challenge to the curiously impassive Justice Department — stands as the most important symbol of Wall Street’s aristocratic impunity and prosecutorial immunity produced since the crash of 2008.

To date, there has been only one successful prosecution of a financial big fish from the mortgage bubble, and that was Lee Farkas, a Florida lender who was just convicted on a smorgasbord of fraud charges and now faces life in prison. But Farkas, sadly, is just an exception proving the rule: Like Bernie Madoff, his comically excessive crime spree (which involved such lunacies as kiting checks to his own bank…
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Geithner Politicizes the Fed, Warns Congress to Not do the Same; Idiocies and Ironies; Economist James Galbraith Unfit to Teach

Mish discusses how Geithner Politicizes the Fed, Warns Congress to Not do the Same; Idiocies and Ironies; Economist James Galbraith Unfit to Teach. – Ilene 

Courtesy of Mish

The hypocrisy of treasury secretary Tim Geithner would be stunning except for the fact hypocrisy from Geithner is pretty much an every day occurrence.

Geithner is blasting Congress for politicizing the Fed, while doing the same thing himself. To top it off, the Fed itself is politicizing the Fed by interfering and commenting on Fiscal policy while bitching about Congress commenting on monetary policy.

Please consider Geithner Warns Republicans Against Politicizing Fed.

U.S. Treasury Secretary Timothy F. Geithner warned Republicans against politicizing the Federal Reserve and said the Obama administration would oppose any effort to strip the central bank of its mandate to pursue full employment.

“It is very important to keep politics out of monetary policy,” Geithner said in an interview airing on Bloomberg Television’s “Political Capital with Al Hunt” this weekend. “You want to be very careful not to take steps that hurt our credibility.”

Fed Chairman Ben S. Bernanke defended the monetary stimulus in a speech in Frankfurt today and in a meeting with U.S. senators earlier this week.

The best way to underpin the dollar and support the global recovery “is through policies that lead to a resumption of robust growth in a context of price stability in the United States,” Bernanke said in his speech.

The asset purchases will be used in a way that’s “measured and responsive to economic conditions,” Bernanke said. Fed officials are “unwaveringly committed to price stability” and don’t seek inflation higher than the level of “2 percent or a bit less” that most policy makers see as consistent with the Fed’s legislative mandate, he said.

Bernanke Comments on Fiscal Policy

Flashback, October 4, 2010: MarketWatch reports Bernanke calls for tougher budget rules

In a speech delivered at the annual meeting of the Rhode Island Public Expenditure Council and devoid of comments on monetary policy, Bernanke said that fiscal rules might be a way to impose discipline, particularly if those rules are transparent, ambitious, focused on what the legislature can control directly, and are embraced by the public.

“A fiscal rule does not guarantee improved budget outcomes; after all, any rule imposed by a legislature can be revoked or circumvented by the same legislature,” Bernanke said,


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The Calm Before The Storm

Note: Michael wrote this prior to the elections. – Ilene

The Calm Before The Storm

Courtesy of Michael Snyder at Economic Collapse 

An eerie calm has descended upon world financial markets as they await perhaps the two most important financial events of the year this week.  On Tuesday, investors will be eagerly awaiting the results of one of the most anticipated midterm elections in U.S. history.  On Wednesday, the Federal Reserve is expected to end months of speculation by formally announcing the details of a new round of quantitative easing.  If either the election or the meeting of the Federal Reserve open market committee delivers a highly unexpected result, it could have a dramatic impact on world financial markets.  In fact, many are looking at this week as a potential turning point for the U.S. economy. The decisions that are made or not made this week could set us down a road from which the U.S. economy may never recover.

At this point, it looks like the Republicans will take control of the U.S. House of Representatives and will pick up a number of U.S. Senate seats as well.

There are many in the financial world who already consider Barack Obama to be the most "anti-business" president in U.S. history, so a defeat for the Democrats on Tuesday would be greatly welcomed by many on Wall Street.  Barack Obama’s decline in popularity since he was elected has been absolutely stunning.  According to Gallup, Barack Obama had an average approval rating of just 44.7% during the seventh quarter of his presidency, which was a brand new low.  In fact, Obama’s average approval rating has fallen during every single quarter since he took office.  Things have gotten so bad for Obama that one new poll has found that 47% of Democrats now think that Barack Obama should be challenged for the 2012 Democratic presidential nomination. 

However, if the Democrats were able to do surprisingly well on Tuesday, it would not only shock the political pundits, but it would also likely put world financial markets in a very bad mood. 

If the Republicans do very well on Tuesday, it will likely mean that there will be no more extensions for those receiving long-term unemployment…
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Boomergeddon

Book Review: Boomergeddon

Courtesy of JOHN RUBINO of Dollar Collapse 

The trouble began in the early 1980s, when we baby boomers entered our 30s and began molding the world in our own image. You can graph the spreading darkness from that point, as US debt, the number of government employees, the trade deficit and virtually every other measure of societal pathology inflected upward. Our generation, says James Bacon, a Virginia writer and magazine publisher, will go down in history as the one that ended the American empire — along with the retirement dreams of pretty much everyone everywhere.

Full disclosure: I’ve known Jim Bacon ever since I wrote for one of his magazines back in the 1980s. He was one of my favorite editors, both because he had a light touch and because he almost always saw the real story behind the noise and opinion. So I expected his new book, Boomergeddon to be both easy to read and incisive, and he’s succeed on both counts. Here’s a representative excerpt from the intro:

When you wake up 20 years from now, shaking your head of thinning white hair (those of you who have hair), groping for your bifocals, and feeling all out of sorts because your “golden” years have become as shopworn as cheap costume jewelry, you’ll know whom to blame. Just look in the mirror and take a long hard look at the miscreant who failed to save enough money, despite abundant warnings that retirement would be very, very expensive. Then head to East Capital Street, N.E./ Washington, D.C., where you can accost any  member of the 535 members of Congress who, through successive decisions more short-sighted than your own rheumy eyeballs, racked up mountains of debt, presided over the disintegration of the United States retirement safety net, and ruined whatever shot you had at living an old age where the words “happy,” “carefree” and “solvent” applied.

Bacon’s main point early on is that the system has devolved to the point where it no longer matters who’s in charge. Each major party is run by a ruling class of lobbyists, bureaucrats and professional politicians who are beholden to a set of interest groups that demand higher spending and increased money printing. Each side blames the other for the mounting problems, so elections tend to be alternating landslides, as opposition candidates demonize incumbents, are given a chance to…
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PIMCO, Blackrock, NY Fed Seek to Force BofA to Repurchase $47 Billion in Soured Mortgages; Viral Nonsense on “Show Me the Note” and “ForeclosureGate”

Excellent article by Mish who separates fact and fiction in the Foreclosuregate drama. - Ilene 

PIMCO, Blackrock, NY Fed Seek to Force BofA to Repurchase $47 Billion in Soured Mortgages; Viral Nonsense on "Show Me the Note" and "ForeclosureGate"

foreclosureCourtesy of Mish

At long last, the real issue regarding soured mortgages has stepped up to the plate. The misguided focus on "ForclosureGate" is but a sideshow compared to Pimco, NY Fed Said to Seek BofA Mortgage Repurchases

Pacific Investment Management Co., BlackRock Inc. and the Federal Reserve Bank of New York are seeking to force Bank of America Corp. to repurchase soured mortgages packaged into $47 billion of bonds by its Countrywide Financial Corp. unit, people familiar with the matter said.

A group of bondholders wrote a letter to Bank of America and Bank of New York Mellon Corp., the debt’s trustee, citing alleged failures by Countrywide to service loans properly, their lawyer said yesterday in a statement that didn’t name the firms. The New York Fed acquired mortgage debt through its 2008 rescues of Bear Stearns Cos. and American International Group Inc.

Investors are stepping up efforts to recoup losses on mortgage bonds, which plummeted in value amid the worst slump in home prices since the 1930s. Last month, BNY Mellon declined to investigate mortgage files in response to a demand from the bondholder group, which has since expanded. Countrywide’s servicing failures, including insufficient record keeping, may open the door for investors to seek repurchases by bypassing the trustee, said Kathy Patrick, their lawyer at Gibbs & Bruns LLP.

Patrick represents investors who own at least 25 percent of so-called voting rights in the deals and stand to recover “many billions of dollars,” Patrick said.

Countrywide hasn’t met its contractual obligations as a servicer also because it hasn’t asked for loan repurchases and is taking too long with foreclosures, Patrick said. The delays stem from missing documents, process mistakes and insufficient staffing to evaluate borrowers for loan modifications, she said.

If Countrywide doesn’t correct the servicing problems within a few months, her clients could have the right to pursue legal action against Bank of America, Bank of New York or both, she said. “None of the bondholders are opposed to modifications for deserving borrowers, but you’ve got to get it done” in a timely fashion, she added.

Mortgage-bond contracts are explicit in requiring repurchases of loans when their


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Federal Reserve Officials: Americans Are Saving Too Much Money So We Need To Purposely Generate More Inflation To Get Them Spending Again

Federal Reserve Officials: Americans Are Saving Too Much Money So We Need To Purposely Generate More Inflation To Get Them Spending Again

Courtesy of Michael Snyder at Economic Collapse 

Some top Federal Reserve officials have come up with a really bizarre proposal for stimulating the U.S. economy.  As unbelievable as it sounds, what they actually propose to do is to purposely raise the rate of inflation so that Americans will stop saving so much money and will start spending wildly again.  The idea behind it is that if inflation rises a couple of percentage points, but consumers are only earning half a percent (or less) on their savings accounts, then there will be an incentive for consumers to spend that money as the value of it deteriorates sitting in the bank. 

Yes, that is how bizarre things have gotten.  It is not as if U.S. consumers are even saving that much money.  Several decades ago, Americans typically saved between 8 and 12 percent of their incomes, but over this past decade the personal saving rate got down near zero a number of times as Americans were living far beyond their means. Once the recession hit, Americans very wisely started saving more money, and so now the personal saving rate has been hovering around the 5 to 7 percent range.  This is well below historical levels, but the folks at the Fed apparently are eager for Americans to pull that money out and start spending it again.

In an article entitled "Fed Officials Mull Inflation as a Fix", Wall Street Journal columnist Sudeep Reddy described this bizarre new economic approach that some over at the Federal Reserve are now advocating….   

"But as the U.S. economy struggles and flirts with the prospect of deflation, some central bank officials are publicly broaching a controversial idea: lifting inflation above the Fed’s informal target."

Does increasing inflation as a way to stimulate the economy sound like a good idea to any of you?…
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Tavakoli: Biggest Fraud in the History of the Capital Markets

Tavakoli: Biggest Fraud in the History of the Capital Markets

Courtesy of JESSE’S CAFÉ AMÉRICAIN

newjanpic.jpg

Washington Post
‘This is the biggest fraud in the history of the capital markets’
By Ezra Klein
10/8/2010 

Janet Tavakoli is the founder and president of Tavakoli Structured Finance Inc. She sounded some of the earliest warnings on the structured finance market, leading the University of Chicago to profile her as a "Structured Success," and Business Week to call her "The Cassandra of Credit Derivatives." We spoke this afternoon about the turmoil in the housing market, and an edited transcript of our conversation follows.

Ezra Klein: What’s happening here? Why are we suddenly faced with a crisis that wasn’t apparent two weeks ago?

Janet Tavakoli: This is the biggest fraud in the history of the capital markets. And it’s not something that happened last week. It happened when these loans were originated, in some cases years ago. Loans have representations and warranties that have to be met. In the past, you had a certain period of time, 60 to 90 days, where you sort through these loans and, if they’re bad, you kick them back. If the documentation wasn’t correct, you’d kick it back. If you found the incomes of the buyers had been overstated, or the houses had been appraised at twice their worth, you’d kick it back. But that didn’t happen here. And it turned out there were loan files that were missing required documentation. Part of putting the deal together is that the securitization professional, and in this case that’s banks like Goldman Sachs and JP Morgan, has to watch for this stuff. It’s called perfecting the security interest, and it’s not optional. 

EK: And how much danger are the banks themselves in?

JT: When we had the financial crisis, the first thing the banks did was run to Congress and ask for accounting relief. They asked to be able to avoid pricing this stuff at the price where people would buy them. So no one can tell you the size of the hole in these balance sheets. We’ve thrown a lot of money at it. TARP was just the tip of the iceberg. We’ve given them guarantees on debts, low-cost funding from the Fed. But a lot of these mortgages just cannot be saved. Had we acknowledged this problem in 2005, we could’ve cleaned it up


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Ass Backwards: Senate to Shelve Bush Tax Cuts for Individuals; House to Pass Small Business Tax Cuts

Ass Backwards: Senate to Shelve Bush Tax Cuts for Individuals; House to Pass Small Business Tax Cuts

Courtesy of Mish

If ever you want to see tax policies that are ass backwards, look no further than two Congressional tax bills, one should pass but may not even get a vote, the other is seriously misguided but will pass anyway.

Senate Democrats Ready To Shelve Tax Cut Vote

TPM reports Senate Dems Ready To Shelve Tax Cut Vote

A senior Senate Democratic aide told TPM today there won’t be a vote on extending the Bush tax cuts in the upper chamber before the November election, a blow to party leaders and President Obama who believed this would have been a winning issue.

"Absent a stunning turn of events, we’re not going to do tax cuts before the election," the aide told TPM.

"We have a winning message now, why muddy it up with a failed vote, because, of course, Republicans are going to block everything," the aide said.

Aides for two senators in tough bids have suggested they would take the plunge and vote before the election, but they’d prefer to vote if it means the tax cuts extension could actually be passed. And that’s not counting the conservative Democrats who disagree with the majority of the caucus about where the threshold should be — and lean toward a higher than $250,000 in income definition of the middle class.

Politics as Usual

The irony is both parties are blaming each other and both parties are to blame. Certainly the Democrats should have enough votes to pass something given they have a majority. I highly doubt the Republicans would filibuster a tax cut proposal this close to election.

However, Democrats might not have the votes because of defections. Senate leaders fear those defections, and do not want to risk Democrats being blamed.

Another, perhaps more likely alternative is that Democrats believe a "winning message" (blaming Republicans) is better than "winning action".

Either way, taxpayers will suffer.

Contrary to the what the Democratic fools believe, I think people will blame incumbents not Republicans for failure to pass something. Thus, Republicans have every incentive to do the wrong thing, short of a filibuster.

The bottom line is the same. Nothing gets done, and both parties are to blame.

Year End Cliff Gamble on 2% of GDP

I did not think it would…
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Debating the Flat Earth Society about Hyperinflation

Debating the Flat Earth Society about Hyperinflation

Courtesy of Mish 

Anglo-Saxon map of 900s showing a flat earth and the ocean that was thought to surround it. British Museum

Over the past few weeks, many people have asked me to comment on John Hussman’s August 23, 2010 post Why Quantitative Easing is Likely to Trigger a Collapse of the U.S. Dollar.

Most wanted to know how that article changed my view regarding deflation. It didn’t.

Several others went so far as to tell me that Hussman was calling for hyperinflation. They were point blank wrong.

Here is the pertinent section from Hussman’s September 6, 2010 post The Recognition Window.

A note on quantitative easing

One of the things I’m increasingly dismayed to learn is that no matter how much detail, data, and qualification I might include in these commentaries, my conclusions will often be summed up by writers or bloggers in a single sentence that often bears no relation to my point. For instance, my view that quantitative easing will trigger a "jump depreciation" in the dollar has evidently placed me among analysts warning of hyperinflation and Treasury default (a club whose card is nowhere in my wallet).

To clarify once again – I emphatically do not anticipate inflationary pressures until the second half of this decade. As I’ve repeatedly emphasized, the primary driver of inflation – historically and across countries – has been growth in government spending for purposes that do not expand the productive capacity of the economy.

Quantitative easing does not pressure the dollar by fueling inflation. It has a much more subtle effect (but one that can be expected to be amplified if fiscal policy is long-run inflationary as it is at present). Normally, equilibrium in capital flows between countries is achieved through changes in interest rates. As a result, countries with greater capital needs or higher long-run inflation tendencies also have higher interest rates. If interest rates can adjust, exchange rates don’t have to. But notice what quantitative easing does: by sitting on long-term bond yields (and creating a negative real interest rate differential versus other countries), quantitative easing prevents bond prices from acting as an adjustment factor, and forces the burden of adjustment on the exchange rate.

While some observers have noted that the value of the Japanese yen did not deteriorate dramatically over the full course of quantitative easing by the Bank of Japan – from its beginning until it was finally wound down


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Phil's Favorites

Why tech giants have little to lose (and lots to win) from new EU copyright law

 

Why tech giants have little to lose (and lots to win) from new EU copyright law

Copyright, and copyright laws, will not always match expectations. inkninja, CC BY

Courtesy of Maurizio Borghi, Bournemouth University

The new European Union Copyright Directive, passed recently by the European parliament after a ...



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Kimble Charting Solutions

King Dollar Created Multi-Year Topping Pattern?

Courtesy of Chris Kimble.

The currency markets often play a role in asset management for investors. And one key asset that pays close attention to the US Dollar is Gold (and precious metals). Could a near-term trend change be in store for the US Dollar… and its counterpart, the Euro? Precious metals bulls would love to see the US Dollar topping and the Euro bottoming.

In the chart below, you can see that the two currencies are showing similar reversal patterns – a traditional head and shoulders top for the US Dollar Index and an inverted head and shoulders bottom for the Euro.

BUT, they need to confirm these pattern by breaking down / up.

It’s worth noting that NOTHING has been proved so far, but the potential of both creating longer-term reversal patterns is there and traders should stay tuned.

US D...



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Zero Hedge

Italy's 5 Star Threatens To Ditch Coalition Over Budget Talks, Italian Bonds Slide

Courtesy of ZeroHedge. View original post here.

While the market turmoil over Italy's budget has quieted down in recent weeks as a result of soothing words by the ruling coalition that it would comply with European demands, that snapped moments ago when DPA reported that the leader of Italy's Five Star Movement has threatened to pull the plug on the country's populist government if it cannot find money to implement election campaign promises.

"If we do not find the resources to do what we have said, then it is better for us to go home, there is no point in...



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ValueWalk

How Soon Will A.I. Replace All The Traders: Q&A With Gaurav Chakravorty, CIO Of Qplum

By Jacob Wolinsky. Originally published at ValueWalk.

VW: Tell our readers, what is Qplum?

Qplum is an AI-driven investment management firm. We manage money for individuals, families, and institutions. We actively manage investments using machine learning and deep learning technology.

Our three product lines are:

  1. Wealth, servicing the financial needs of individuals and families via separately managed accounts.
  2. Alpha, for institutional clients only, where we offer different products like GTAA (Global Tactical Asset Allocation), managed futures program, etc. and
  3. Solutions, where we work on customized tactical asset allocation solutions for pension funds and family offices to target a dual loss-aversion and return-seeking investment mandate.

[REITs]

...

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Insider Scoop

Morgan Stanley Bullish On Amazon's New Automated Stores

Courtesy of Benzinga.

Related AMZN Stitch Fix Falls After Piper Jaffray Downgrade; Analyst Says 'Smallest Hint Of Pressure' Could Threaten Valuation ...

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Digital Currencies

Mania to Mania

 

Mania to Mania

Courtesy of 

“Russell rarely played the stock market and had little investing experience when he put around $120,000 into bitcoin in November 2017.”

This comes from a CNN money article, Bitcoin crash: This man lost his savings when cryptocurrencies plunged. From January 2017 through the peak in early 2018, Ethereum gained 16,915%.

Any time you have something go vertical, you just know that some peopl...



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Chart School

Weekly Market Recap Sep 16, 2018

Courtesy of Blain.

Slow and steady drip up all this past week in a very quiet news environment.  A gap down top open the day Tuesday (which was recovered quickly) and a gap up Thursday (which held) were the highlights!

The latest on TRADE WARS!(tm):

Tuesday, news hit that China vowed to retaliate and plans to ask the World Trade Organization next week for permission to impose sanctions on the U.S. for Washington’s noncompliance with a ruling in a dispute over U.S. dumping duties, Reuters reported. That’s part of a dispute that goes back to 2013.

“Trade wars are certainly a concern, but I don’t know that they’re a one...



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Members' Corner

Nike, Colin Kaepernick and the pitfalls of 'woke' corporate branding

 

Adding this article to Members Corner, in case anyone wants to share their opinions on Nike and Kaep, or on divisiveness in general. Also see the article I mentioned in the comments section, "A Warning From Europe: The Worst Is Yet to Come" and What’s behind the current wave of ‘corporate activism’? ~ Ilene

Nike, Colin Kaepernick and the pitfalls of 'woke' corporate branding

Courtesy of Simon Chadwick, University of Salford...



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Biotech

Gene-editing technique CRISPR identifies dangerous breast cancer mutations

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

 

Gene-editing technique CRISPR identifies dangerous breast cancer mutations

Breast cancer type 1 (BRCA1) is a human tumor suppressor gene, found in all humans. Its protein, also called by the synonym BRCA1, is responsible for repairing DNA. ibreakstock/Shutterstock.com

By Jay Shendure, University of Washington; Greg Findlay, ...



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Mapping The Market

Mistakes were Made. (And, Yes, by Me.)

Via Jean-Luc:

Famed investor reflecting on his mistakes:

Mistakes were Made. (And, Yes, by Me.)

One that stands out for me:

Instead of focusing on how value factors in general did in identifying attractive stocks, I rushed to proclaim price-to-sales the winner. That was, until it wasn’t. I guess there’s a reason for the proclamation “The king is dead, long live the king” when a monarchy changes hands. As we continued to update the book, price-to-sales was no longer the “best” single value factor, replaced by others, depending upon the time frames examined. I had also become a lot more sophisticated in my analysis—thanks to criticism of my earlier work—and realized that everything, including factors, moves in and out of favor, depending upon the market environment. I also realized...



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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 ...



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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

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All About Trends

Mid-Day Update

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

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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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...

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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.

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