Posts Tagged ‘GILD’

Weekly Options Active On Microsoft

 

Today’s tickers: MSFT, GILD & PWER

MSFT - Microsoft Corp. – Reporting from CNBC’s David Faber this morning that activist fund ValueAct Capital Management LLC has acquired a $2 billion stake in Microsoft Corp. lifted shares in the world’s largest software maker today, with the stock up 3.5% at $30.80 as of 12:10 p.m. ET. Options volume on MSFT is fast approaching the stock’s average daily level, with roughly 210,000 contracts in play as of midday. Fresh interest in weekly call and put options suggests some traders are positioning for the price of the underlying to extend gains in the near term, while others are betting the shares will lose steam by the end of the week. The April 26 ’13 $31 strike is seeing the most volume among the weekly contracts, with around 6,000 calls and roughly 8,000 puts traded so far. Bullish strategists appear to have purchased most of the calls for an average premium of $0.25 each, and may profit at expiration in the event that MSFT’s shares top $31.25. Meanwhile, traders bracing for shares to reverse course snapped up around 6,000 of the $31 strike puts at an average premium of $0.35 apiece. Put buyers make money as long as the price of the underlying settles below the breakeven point at $30.65 by expiration. Overall trading traffic is favoring puts over calls as of the time of this writing, with the call/put ratio hovering around 2.6 as of 12:15 p.m. ET.

GILD - Gilead Sciences, Inc. – Upside call options are changing hands on Gilead Sciences today, with shares in the biotechnology company rising as much as 1.9% to a new 52-week high of $54.20 during the first half of the session. Trading traffic in the weekly options on Gilead suggests some traders anticipate fresh highs leading up to the firm’s first-quarter earnings report on May 2nd after the closing bell. The April 26 ’13 $55 strike calls are seeing the most volume, with upwards of 2,800 contracts changing hands versus open interest of…
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Put Volume Pops In Smithfield Foods

 

Today’s tickers: SFD, ELLI & GILD

SFD - Smithfield Foods, Inc. – Put options changing hands on pork processor, Smithfield Foods, Inc., this morning look for shares in the name to potentially pull back to the lowest level year-to-date by May expiration. Shares in SFD are up 0.60% on the session to stand at $25.39 as of 11:20 a.m. ET, reversing a portion of Monday’s near 3% decline. The stock is up roughly 25% since this time last year. Overall options volume in excess of 3,750 contracts in play on Smithfield thus far today is substantial versus the stock’s average daily volume or around 635 contracts. Most of the volume is in the May $22 strike puts, with some 3,600 lots trading against open interest of 1,179 lots. Time and sales data indicates one trader purchased the bulk of the put options at a premium of $0.20 apiece. The bearish stance may pay off at expiration next month in the event that Smithfield’s shares drop 14% from the current level to breach the effective breakeven point on the downside at $21.80.

ELLI - Ellie Mae, Inc. – Options on mortgage management software systems and technology provider, Ellie Mae, Inc., are more active than usual today, with volume rising to roughly five times the stock’s average daily volume. Trading traffic in the May expiry put options indicates some traders may be positioning for the price of the underlying to slide following the company’s first-quarter earnings report after the close on April 30th. Shares in ELLI, up 105% since this time last year, gained 0.20% this morning to trade at $24.00 by 11:40 a.m. ET. Options traders bracing for shares in the name to falter exchanged roughly 1,000 puts at the May $20 strike, buying most of these contracts for an average premium of $0.39 apiece. Put buyers profit at expiration if ELLI shares slide 18% from the current level to settle below the breakeven price of $19.61. Shares in Ellie Mae last traded below $19.61 at the end of…
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Gilead Calls In Play As Shares Hit Record Highs

 

Today’s tickers: GILD, YHOO & LINTA

GILD - Gilead Sciences, Inc. – Positive results from a Phase 3 study of Hepatitis C drug, sofosbuvir, pushed shares in Gilead are up more than 3.0% this morning to a new all-time high of $43.04 after the company said in a press release that it is “on track to meet its goal of filing regulatory applications in the United States and Europe in the second quarter.” The stock is up roughly 20% since the start of 2013, and some options traders are positioning for further gains in the near term. Fresh interest in out-of-the-money weekly call options on Gilead Sciences look for shares in the drug maker to continue to hit fresh highs during the next few trading sessions. More than 480 calls changed hands at the Feb. 22 ’13 $43.5 strike in the early going on Tuesday, with most of the volume purchased at an average premium of $0.11 apiece. Call buyers stand ready to profit at expiration should Gilead shares top the average breakeven price of $43.61. The Feb. 22 ’13 $42, $42.5, and $43 strike call options were also active this morning, with volumes surpassing open interest levels at each striking price. Bullish positions initiated at the end of last week have generated substantial paper profits for some traders, who find the value of their contracts has jumped sharply following the holiday weekend.

YHOO - Yahoo!, Inc. – Upside call options changing hands on Yahoo this morning suggest some traders are positioning for fresh multi-year highs in the price of the underlying during the next few days. The stock is up 1.8% this morning to stand at $21.39 as of 11:40 a.m. ET. Bullish traders are snapping up in- and out-of-the-money calls, buying more than 700 of the Feb. 22 ’13 $21 strike calls and another 450 lots at the $21.5 strike. The Feb. 22 ’13 $22 strike calls are seeing the most volume, with around 1,400 lots trading against open interest of 534 contracts during the first…
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Put Spread Prepares For Possible Near-Term Pullback In Homebuilders ETF

 

Today’s tickers: XHB, GILD & JAZZ

XHB - SPDR S&P Homebuilders ETF – Shares in the XHB, which last week hit a five-year high of $26.10 on the heels of Thursday’s FOMC announcement, are down 1.5% this morning at $25.48 as of 11:25 a.m. ET. One options strategist positioning for the price of the underlying to potentially extend declines in the near term appears to have established a bear put spread in the October expiry. The strategy may be a hedge to protect the value of a long position in the underlying, or could be an outright bearish bet that shares in the XHB are poised to pullback somewhat during the next five weeks. It looks like the trader purchased a 4,000-lot Oct. $23/$25 put spread at a net premium of $0.46 per contract. The spread makes money if shares in the Homebuilders ETF slip 3.7% to breach the effective breakeven price of $24.54, while maximum potential profits of $1.54 per contract are available in the event XHB shares drop 10% to $23.00 at expiration next month. Shares in the Homebuilders ETF have increased roughly 110% since October 2011 as the housing market continues to recover.

GILD - Gilead Sciences, Inc.– The biopharmaceutical company’s shares surged 5.3% to an all-time high of $65.31 this morning on positive analyst comments regarding the drug maker’s HIV and hepatitis C treatments. Earlier this morning an analyst at JPMorgan raised his target share price on Gilead Sciences to $75.00 from $70.00, while an analyst with Deutsche Bank raised her price target to $68.00 from $65.00 on Friday. Options activity on GILD this morning suggests some traders are positioning for shares in the name to extend gains in the near term. Upside call buyers targeted the Sep. $65 and $67.5 strikes, with volume at each strike rising to 2,900 and 1,700 contracts, respectively, by midday. Traders appear to have purchased much of the volume, paying an average premium of $0.63…
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Bullish Options Build On Biotech Company Gilead Sciences

 

Today’s tickers: GILD, SPLS & ODP

GILD - Gilead Sciences, Inc. – Bullish activity in the biotechnology company’s options jumped and shares in Gilead Sciences moved up more than 2.0% to $46.18 the same day the drug maker presented at the 2012 RBC Capital Markets’ Healthcare Conference in New York. Positive comments from management along with the impending April 19th first-quarter earnings report from the Company could be catalysts for the sizable bull call spreads accumulating in the April expiry. It looks like one investor purchased a roughly 15,000-lot April $47/$50 call spread for a net premium of $1.13 per contract to position for shares to extend gains during the next couple of months. Profits may be available on the spread in the event that Gilead’s shares rally another 4.2% to surpass the average breakeven price of $48.13, while maximum possible profits of $1.87 per contract pad the investor’s wallet should the stock surge 8.3% to top $50.00 at expiration. Gilead’s shares had realized year-to-date gains of 35.0% earlier this month after the Company’s better-than-expected fourth-quarter earnings report sent the stock up as high as $56.50 on the 6th of February. The stock subsequently came back down with a thud shortly after reaching its highest level since 2008, but the options trader responsible for the call activity this morning is poised to benefit should the stock regain its footing in the near term.

SPLS - Staples, Inc. – Shares in the office supplies retailer rallied 4.7% to $15.95 in sympathy with competitor, Office Depot, Inc., which opened sharply higher on better-than-expected fourth-quarter earnings released ahead of the opening bell this morning. Staples is scheduled to reveal its fourth-quarter performance before U.S. markets open on Wednesday, and it looks like options traders are positioning for the upward move in…
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Jobs Report Drives Heavy Trading Traffic In Ford, General Motors Options

 

Today’s tickers: F, GM, MAS & GILD

Options commentary to resume on Thursday February 9th.

F - Ford Motor Co. – The better-than-expected jobs number out this morning revved up investor appetite for automobile stocks, driving shares in Ford Motor Co. up 4.0% to $12.75. Call options on the U.S. automaker are flying off the shelves, with nearly 5 calls in play on the stock for each single put option traded. The single-largest transaction in Ford options appears to be a bull call spread that yields maximum possible profits if the price of the underlying rallies nearly 20.0% during the next few months to expiration. It looks like one trader purchased a 30,000-lot April $14/$15 call spread for a net premium of $0.15 per contract. The position may be profitable at expiration if shares in Ford Motor Co. climb 11.0% to surpass the effective breakeven price of $14.15. Maximum potential profits of $0.85 per contract are available on the spread should shares in the auto manufacturer surge 17.6% to exceed $15.00 by expiration. Overall options volume on Ford is up above 175,000 contracts just before 1:00 p.m. ET.

GM - General Motors Co. – GM’s shares are outperforming fellow U.S. automaker, Ford Motor Co., this afternoon, with the stock trading 8.4% higher on the session at $26.35 as of 12:55 p.m. in New York. Optimism spurred by this morning’s stronger-than-expected jobs report was followed by greater-than-usual options action in the name. A debit put spread in the March expiry, which may be an outright bearish bet…
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Three-Legged Bull Prepares for a PNC Rally

Today’s tickers: PNC, CEDC, SPLS & GILD

PNC - PNC Financial Services Group, Inc. – Shares in the financial services firm are down 1.00% at $60.34 in early-afternoon trade, but activity in May contract call and put options suggests one strategist sees shares in PNC rising sharply in the next few months. The three-legged bullish player appears to have sold 5,000 puts at the May $55 strike for a premium of 1.39 each, purchased the same number of calls at the May $62.5 strike for a premium of $2.15 per contract, and shed 5,000 calls up at the May $67.5 strike at a premium of $0.68 a-pop. The options trader paid a net premium of $0.08 per contract for the transaction, and stands ready to profit should PNC’s shares reverse course and rally 3.7% over the current price of $60.34 to exceed the average breakeven price of $62.58 by expiration day in May. The investor responsible for the trade could accumulate maximum potential profits of $4.92 per contract if the firm’s shares jump 11.9% to trade above $67.50 before the options expire. PNC’s shares last traded above $67.50 back in May 2010. The financial services provider reports first-quarter earnings before the opening bell on April 21, 2011.

CEDC - Central European Distribution Corp. – Near-term options activity on the vodka producer this morning suggests some investors expect the pain of Central European Distribution Corp.’s post-earnings hangover to stick around through March expiration. Shares in CEDC lost 11.2% today to trade at $12.38, the lowest recorded price for the stock since April 2009. The alcohol beverage provider’s shares dropped 45.8% during the trading week, from a closing price of $22.85 on Monday, to today’s low of $12.38. Put buyers in the March contract, however, do not seem to think CEDC has hit…
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Gilead – Not Your Run of the Mill Mid-Tier Pharma

Gilead – Not Your Run of the Mill Mid-Tier Pharma

Courtesy of Pharmboy

At PSW, we have been hemming and hawing about inflation/deflation, how to right Washington, oil exploration, solar flairs, irrational exhuberance in the market, and why Gilead (GILD) has lost its prominence in the market’s eye.  Experts say it is the company’s pipeline, as one of its flagship drugs is expiring in 2013.  Others allege that the company is being shorted by hedge funds because the short interest is currently trading at 1 day.  

Gilead Sciences, founded in 1987, is a leading pharmaceutical player, with more than 2,500 employees. With headquarters in Foster City, California, and operations spanning across the globe, it focuses its research and clinical programs on antivirals, antifungals and antibacterials.  Gilead’s portfolio of 13 marketed products includes a number of category firsts and market leaders. 

Gilead’s first significant entrant into the HIV market in 2001 was Viread (a nucleotide analog reverse transcriptase inhibitor, or NtRTI). Viread was recently approved for the treatment of chronic hepatitis B.  It was followed in 2003 by Emtriva, and then in 2004, Gilead’s current blockbuster product Truvada (a combination of Viread and Emtriva) was launched.  Gilead’s newest HIV product is Atripla, a combination of Truvada and Bristol-Myers Squibb’s (BMS) Sustiva, which has achieved rapid sales uptake since its launch in 2006.  Below are Gilead’s main income drivers, and as one notices, the HIV franchise is the majority of the company’s income.

In July 2009, Gilead announced a collaboration with Tibotec (a division of t Johnson & Johnson) to develop and commercialize a fixed-dose combination (FDC) of Truvada and Tibotec’s TMC278 (rilpivirine). This decision was to develop, in essence, a second generation Atripla.  This was a wise move by Gilead because GSK has its own integrase inhibitor, GSK1349572, which has shown positive Phase II results and will eventually compete with GILD/JNJ’s fixed dose combination. In addition, GILD will lose patent protection on Atripla in 2013, so doctors (or GSK) could combine the new GSK drug with BMS/s Sustiva, thus inceasing the pricing pressure on GILD. Teaming with JnJ should help maintain Gilead’s already dominant FDC market share which is projected to be 40% of the HIV market.    

As a side note, the total market sales of antiretroviral medications in 2009 were estimated at $11.8 billion – and Gilead owned more than 20% of those net sales But new…
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Which Way Wednesday – Fed Up Edition

I don’t know what Fed minutes the market red yesterday but the ones I read scared me!

As usual, I went through the minutes in Member Chat (and there’s a highlighted version in Seeking Alpha minus my color-coding) and the red (negative) statements are far outnumbering the green (shoots) in the minutes including little blow-offs like "the Federal Reserve’s total assets had risen to about $2.3 trillion" and "the Desk had been reinvesting all maturing Treasury securities by exchanging those holdings for newly issued Treasury securities" which, if you put them together in non-BS language, pretty much says: "Of the $1.3Tn in Treasuries sold in 2009, it’s hard to see how the Fed bought less than half of them, maybe closer to all of them since we rolled our short-term paper over each time, therefore buying much more than it seems."

Once again, the finger is pointed sqarely at Commercial Real Estate as, according to the minutes: "Conditions in the nonresidential construction sector generally remained poor. Real outlays on structures outside of the drilling and mining sector fell again in the fourth quarter, and nominal expenditures dropped further in January. The weakness was widespread across categories and likely reflected rising vacancy rates, falling property prices, and difficult financing conditions for new projects."  In a real economy, that statement alone would send investors running for the exits but we also got these three – all in a row:

The dollar value of commercial real estate sales remained very low in February, and the share of properties sold at a nominal loss inched higher. The delinquency rate on commercial mortgages in securitized pools increased in January, and the delinquency rate on commercial mortgages at commercial banks rose in the fourth quarter. The percentage of delinquent construction loans at banks also ticked higher in the fourth quarter. 

Delinquency rates on credit card loans in securitized pools and on auto loans at captive finance companies remained elevated in January but were down a bit from their recent peaks.

Total bank credit contracted substantially in January and February. Banks’ securities holdings declined at a modest pace after several months of steady growth, and total loans on banks’ books continued to drop.

The Fed blows off this bad news by noting that CDS rates were ignoring the weakness in CRE (so we should too?) and, even worse is the way the Fed keeps
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Fannie Mae Put Action Explodes in Afternoon Trading

Today’s tickers: FNM, EWZ, IYR, GILD, FXI, WLP, EEM, ARG, DWA & WMB

FNM – Fannie Mae – Mortgage-financer, familiarly known as Fannie Mae, jumped onto our ‘most active by options volume’ market scanner after one investor went hog-wild with put options. Fannie’s shares slipped 3% during the trading day to $0.95 apiece. The investor appears to have traded 118,000 in-the-money put options at the March $1.0 strike for a premium of $0.15 apiece, spread against the sale of 118,000 puts at the January 2012 $1.0 strike for a premium of $0.40 each. Open interest of 156,689 puts at the March $1.0 strike indicate the trader could be buying-to-close a previously established 118,000-lot short put position initiated back in September of 2009. If this is the case, the investor is extending the short put position out to the January 2012 contract and expecting the government agency to ultimately survive the next couple of years. In this scenario, the trader keeps the $0.40 in premium on the sale of the fresh batch of put options if Fannie’s share price rallies above $1.00 by expiration in 2012. But, there are a other possible explanations for the trade. It is possible that the open interest at the March $1.0 strike is unrelated to today’s activity. In this second scenario, the trader is essentially predicting that shares will erode ahead of March expiration. If this is the case the trader sold 118,000 January 2012 $1.0 strike puts for $0.40 apiece in order to take a long 118,000-lot put stance at the March $1.0 strike for which he paid $0.15 each. The net credit received in this scenario amounts to $0.25 per contract and generates additional profits as Fannie’s shares continue to fall under $1.00. It will be interesting to see whether the open interest level at the March $1.0 strike changes to reflect the closing of a previously established long or short put position. Regardless of the direction of- or motivation behind- the transaction the large volume of the trading activity is certainly noteworthy.

EWZ – iShares MSCI Brazil Index ETF – A ratio put spread enacted on the Brazil ETF suggests we may continue to see bearish movement in the price of the underlying stock through expiration in June. Shares of the fund are down 3% to $61.80 as of 2:20 pm (EDT). The investor responsible for the transaction purchased 7,500 puts at…
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Phil's Favorites

Suddenly, the world's biggest trade agreement won't allow corporations to sue governments

 

Suddenly, the world's biggest trade agreement won't allow corporations to sue governments

The 16 nations negotiating the Regional Comprehensive Economic Partnership account for almost half the world’s population. Shutterstock/Datawrapper

Courtesy of Pat Ranald, University of Sydney

The Regional Comprehensive Economic Partnership has been touted as the best hope for keeping world trade flowing after the attacks on the World Trade Organisation.

The WTO isn’t dead yet, but in a two-pronged attack, US P...



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Kimble Charting Solutions

Crude Oil Create A Panic Peak This Week?

Courtesy of Chris Kimble

Yesterday Crude Oil rallied nearly 15%. How often does Crude rally this much in a day? Not often!

How many times has Crude rallied nearly 15% in the past 20-years? Only one other time, which suggests that yesterdays move was a rare event.

This chart looks at Crude Oil on a weekly basis over the past 2-years. Last year Crude Oil created a bearish reversal pattern at the 2018 highs and a bullish reversal pattern at the 2018 lows.

Earlier this year, Crude created a bearish reversal pattern (bearish wick pattern), while testing its 61% retracement level of last years hig...



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Zero Hedge

The Fed Has Lost Control Of Rates Again

Courtesy of ZeroHedge View original post here.

Something critical is going on in overnight funding markets: ever since March 20, the Effective Fed Funds rate has been trading above the IOER. This is not supposed to happen, and it just got significantly worse.

As a reminder, ever since the financial crisis, in order to push the effective fed funds rate above zero at a time of trillions in excess reserves, the Fed was compelled to create a corridor system for the fed funds rate which was bound on the bottom and top by two specific rates controlled by the Federal Reserve: the "floor" for the corridor was the overnight reverse repurchase rate (ON-RR...



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Insider Scoop

3 Takeaways From SeaWorld CEO's Surprise Resignation

Courtesy of Benzinga

SeaWorld Entertainment Inc (NYSE: SEAS) announced Monday evening that Gustavo Antorcha resigned as CEO and board member due to a "difference of approach."

What Happened

Antorcha's resignation will be effective immediately and he will be replaced with CFO Marc ...



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The Technical Traders

What Are The Real Upside Targets For Oil Post Drone Attack?

Courtesy of Technical Traders

After the news of the drone attack on the Saudi Arabia oil refinery, traders knew this week would be full of bigger price moves, reversals and some real opportunity for profits.  We were also well aware of the risks of engaging in these market moves prior to fully understanding the dynamics of this event.  We heard from many of our friends in the industry about open positions that were not properly scaled to deal with risk – and we know some of our friends took a hit early today.

The real questions before skilled technical traders are:

What will happen with Oil and where will price find the first level of resistance?

What will happen to t...



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Lee's Free Thinking

Is The Drone Strike a Black Swan?

Courtesy of Lee Adler

Pundits are calling yesterday’s drone strke a “black swan.” Can a drone strike on a Saudi oil facility, be a “black swan.”

According to Investopedia:

A black swan is an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences. Black swan events are characterized by their extreme rarity, their severe impact, and the practice of explaining widespread failure to predict them as simple folly in hindsight.

I seriously doubt that no one expected or could have predicted a drone strike on a Saudi oil facility.

Call Me A B...

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Chart School

Crude Oil Cycle Bottom aligns with Saudi Oil Attack

Courtesy of Read the Ticker

Do the cycles know? Funny how cycle lows attract the need for higher prices, no matter what the news is!

These are the questions before markets on on Monday 16th Aug 2019:

1) A much higher oil price in quick time can not be tolerated by the consumer, as it gives birth to much higher inflation and a tax on the average Joe disposable income. This is recessionary pressure.

2) With (1) above the real issue will be the higher interest rate and US dollar effect on the SP500 near all time highs.

3) A moderately higher oil price is likely to be absorbed and be bullish as it creates income for struggling energy companies and the inflation shock may be muted. 

We shall see. 

...

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Digital Currencies

China Crypto Miners Wiped Out By Flood; Bitcoin Hash Rate Hits ATHs

Courtesy of ZeroHedge View original post here.

Last week, a devastating rainstorm in China's Sichuan province triggered mudslides, forcing local hydropower plants and cryptocurrency miners to halt operations, reported CoinDesk.

Torrential rains flooded some parts of Sichuan's mountainous Aba prefecture last Monday, with mudslides seen across 17 counties in the area, according to local government posts on Weibo. 

One of the worst-hit areas was Wenchuan county, ...



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Biotech

The Big Pharma Takeover of Medical Cannabis

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

 

The Big Pharma Takeover of Medical Cannabis

Courtesy of  , Visual Capitalist

The Big Pharma Takeover of Medical Cannabis

As evidence of cannabis’ many benefits mounts, so does the interest from the global pharmaceutical industry, known as Big Pharma. The entrance of such behemoths will radically transform the cannabis industry—once heavily stigmatized, it is now a potentially game-changing source of growth for countless co...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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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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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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