Great calls this week!

SNS1

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

Phil is a fundamentalist to his fingertips. His ability to value a stock goes well beyond p/e, as he understands the essence of many businesses, what gives them value and how they make their money. As such, his recommendations are invaluable to a investor who takes a value-oriented approach.

Zeroxzero

AMZN ... thanks Phil; boy did they run a squeeze on everyone there ... made me sweat ... scaling helped! I think AMZN has an 85 handle tomorrow ... maybe lower.

Cap

I am about 1000 hours into learning about investing. While, I have tried other websites along the way, they don't teach or focus on selling premiums and certainly don't have your mindset. Anyway, I have a lot to learn and look forward to the new portfolios. So, thank ALL of you for being patient and teaching others how to "Be the House and not the Gambler"!

GrassHopper67

Have been a member for about 6 months or there abouts. Signed up for a quarter at first and then for a year. To me, and it's only my opinion, it's an investment and I have made the membership fees back many times over on the strategy advice. Since joining and implementing the strategy of buy/writes and hedges I have cut my portfolio losses for the year and have a really good chance of going positive this year. If I would have continued down the road I was on, I would still have been fumbling around without a strategy and completely inept in what I was doing. I feel now the strategy is working and I am far more comfortable with the risks I am taking. I still have a lot to learn but I feel the fees have been one of the best investments I have made. The returns have been fantastic. Still have problems with the politics but hey nobody is perfect

DKGuy

Phil// Cashing out of my LT holdings have been going on for over two weeks. However, I have elected not to cash all of the holdings including my AAPL, Jan 16 Short Puts at $470 and $480. Plus, I am being opportunistic in selectively putting on those positions for beat down stocks by selling 2016 Puts. That said, YTD harvested profits now stand at $135k on a current account balance of $683K or a 19.81% YTD return. Thanks for your expertise in teaching me how to be patient, be the banker, but also not being greedy, cashing out and harvesting profits.

IHS4GOD

Against all prognostics (bears) Phil pointed in the morning the correct direction, and in middle of day he pointed the possible move to 2.5% Incredible… I'm starting to serious believe on the program trading and the human nature behind the programing those "trade-bots".

Spider

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

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

Thanks, after years of blood and blunders, I have reached a significant milestone – I don't lose money. Net net, I rarely have a losing week, market up, market down. And that I owe to you. Balanced positions. More premium sold than bought. Fundamental criteria applied to good companies, not momentum/ news headlines/ stock du jour/ triangle squeezies. But rather earnings, P/E, dividends, competitive position — the boring stuff that takes study, thought,….and patience. You have been a great teacher, and I have embarassed myself repeatedly day with how slowly I learn. And it's a funny thing – if you don't lose, the gains start to pile up. The arithmetic is cruel to the downside, and becomes a gift in the other direction. And I'm in this for the long run, having made myself unemployable through a need for diversification. Moreover, what I've learned here has also elided into other areas, including real estate and ex-U.S. investment. Pretty cool. Have a great weekend.

Zeroxzero

Phil: well, often you say, just for FUN, great comment, TXS, closed 2 SKF positions, one with 10 % , the other with 6 % gain,

RMM

Thank you Phil we appreciate all the work you put in to teach us valuable lessons about investing.

Pat Swap

Phil — gotta thank you for your advice this week, and especially today. I took many aspects of your advice this morning, with all of my shorts -- being prepared on the short side, selling into intial excitement, taking the money and running, not being greedy. I also made money on the your /QM and /YM calls. It used to be I would be terrified of weeks like this one. Now, it feels somewhat comfortable, for want of a better word.

Escohen5

Phil: I loaded up big time yesterday on your suggestion of the AMZN September 75 naked puts. They are up 43%!

Gel1

Thanks Phil, for banging the table on getting short and getting to cash. Usually when this happens in the market I am freaking out but I actually made money this week thanks to you. That HOV trade was a great way to re-deploy some of my cash.

Julian

The virtuous trade / Phil throws out so many ideas, that understandably he rejects all calls for a running total of how all ""quoted"" ideas are performing – it would be unworkable. But without such a list, I think it behooves us to call out the trades that have made a difference. January 13 expiration is going to be a big month for me as a significant number of sold put positions will expire worthless. One example of the power of patience and leaving well alone: VLO – sold Jan 13, 17.5 puts for $3.45 – and this trade was placed in August 2011. VLO is currently a tad over $35! And as time went by, and I got more experienced – with the help of Phil and the contributions from board members, I started selling short term puts and calls around this position. Sometimes having to roll, sometimes doubling down but always knowing what I was getting into, and feeling very calm and focussed that whatever happened I could handle it. And if I couldn't then there was always Phil to lend a helping hand. All in all, my profits since August 2011 would qualify as a tidy addition to any earnings from the day job. Thank you Sir.

Winston

GIVE THANKS/PHIL Have not done my 10,000 hours, but a couple of years at PSW, and moved from fishing with a single line to owner of a commercial trawler (metaphorically speaking). Now I fish with many lines. It is amazing when you go over the same information time and time again, eventually it clicks. Like planting trees; being the house, 20% sale items, selling into the excitement. and patience. I just sold an AAPL Jan 12 340/390 BCS financed by the sales of Jan 12 275 Put. The trade was put on one year ago for a net credit and exited five minutes ago for a 49 dollar per contract profit. No point in waiting till opex to see what happens, and I will just sell 10 of those VLO puts to make myself net the round 50. I no longer worry about opex coming as I have adjusted well in time for most positions that go against me. I still make some howlers (RIMM, TBT, TRGT) but I play the percentages and my winners outdistance my losers by many miles. I would never be in this position if it were not for Phil. He is a treasure, pure and simple. The goose that lays the golden egg if we care to listen and practice. Phil, a mighty big thank you.

Winston

Phil: I have 263 positions - 70% in options ( balance stocks) in three portfolios with a value of 3 mil. YTD profit is about $750,000. Thanks!

Gel1

The wonderful resource that Phil has created for us and nourished by its members is so powerful in what it can teach us going forward, but also what we can learn from the past. I never say it often enough, but Phil – thanks for all the work you do for us.

Winston

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

/NKD- Kownichiwa Cowboy!! One week of patience and scaling in and out pays off. This is a testament to Phil's fundamental analysis with the PSW technique. Thanks Phil.

JohnO

We are lucky to be in America and it is great to be part of the PSW tribe. Keeps me thinkin' and gatherin' the profits. ~ 42 % gain in my trading account year to date, which keeps me happy. Half to a third of the trading account is reserved in margin capacity that Is not committed. So, again thanks Phil and all of you other members.

Newthugger

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

Thanks for all the work you put into this site. I have looked at a few other option advisory or "mentoring" services this year, but no one offers even a fraction of the content or the level of services you provide at PSW!

Jelutuck

Hi Mr. Phill, I am a Venezuelan lady tormented by our politicall situation, who use to be an emerging market trader, and many other executive positins in the finance "arena" and now is trying to built a new concept and service for asset management for clients on my own, I am in the trial and learning process at the moment, I also invest for some friends and myself. I want to congratulate you , because reading you fill my days with a touch of irony (besides ,of course the spectacular market insight) that happens to give me energy, its a joy the remarks and comments even the pictures used, sometimes I just read it for the fun, I completily agree with your thouhts, though we belong to totally different cultures and enviorements and certanly realities Your readings is like a little hand helping me out to be in the market and fight for my devastated country where every single day we looe inches and yards of liberty. You shoul try to writte a book!

Mindeyes

I have to thank you for excelling yourself during this past week. I have spent a good few hours going over your notes and comments and there are so many gems on repairing and rolling trades that I have been beavering away on paying special attention to my major positions and analysing them using your approach on Tuesday. Being able to look at a group of trades on the same underlying (in this case AAPL) and taking a detached view by assessing the impact of the underlying reaching different price points was extremely reassuring.

Winston

All I can say is — I understand that the Universe sent me to PSW for a reason. So, I'm listening!! …and studying. Your commentary is literally outstanding. …and your members are impressive as well.

Seaquill

Simply the best blogger with the greatest group of members a person could surround himself with on trading day. I've been trading for quite some time now and the insights & suggestions offered by Phil and the members keep me on a continuous learning cycle.

DDay

Phil - Thanks for the welcoming gift of the POT at a buck Just paid for this month and my membership is not even 24 hours old! looking forward to many more - bk

Bjkeck