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
Blessings, ALL: So we have completed two months of 2015. So far it has been a good ride with my PSW all short put portfolio showing a 15.73% gain with $83K in profits harvested in 2015.
IHS4GOD
I read you every day. Smart. Prescient. Good advice. Righteous anger. Even made some money on your ideas. Keep it up.
Catfoodgen
Its been a "perfect" month. Every stock I wrote calls against looks like it will be called away next week, every put I wrote will expire worthless. Thanks Phil, now I need some new buy/write candidates, or the new 100K portfolio….
Barfinger
100KP dividend plays - FYI, I'm loving them...thanks, Phil!!! Including the $0.848/share dividend, I am up 100% on my $2.38 net entry on LYG...that's pretty cool!
SSDirk
It was a nice day thanks to your help! Made over $1100 shorting TF every time it came up near 1260 and even more by going long oil before inventory under $46 and then waited patiently for the spike up into the close where I shorted it at 47.70 or so. Phil you gave me a road map and I simply followed the signs along the way.
Craigsa620
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
WOW, glad I went bearish… Phil, thanks for the help on the QID calls yesterday, I turned it into a partial cover rolling down to the Feb 52s selling the 55s 1/2 covered. Sold 1/2 and now lowered my cost basis to $4.38 on the $52s (fully covered).
Texasmotion
Phil/BCS - Didn't realise they traded here. Should've known really. Thanks for the tip. managed to pick some up just before the close at a 15% discount to the UK closing price.
DB
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
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
Thanks Phil, your note at the close was responsible for making those silly GOOG sellers pay for my NYC sojourn, nice!!
zeroxzero
Phil, thank you for all the education here. I've gained so much knowledge being a part of PSW.
Thanks to the rest of the members as well! I appreciate all of the contributions you make.
JeffDoc
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
Hey Phil -- I want to thank you every chance I get for helping me to grow my previous portfolio to being profitable enough to pay off some debts my family had and left me with $1,000 left to use in the markets. You should know that your premium membership is amazing on many levels, You and your readers offer a ton of economic and statistical analysis that I was able to use in my clerical level job in finance. It's a shame that someone as talented and honest as you is not on television each night providing a true service to the investing public and not the clowns and hucksters that are talking up their books to dump on retail investors. Sorry for the long post. I had to say something to you that I never thought I would have the opportunity to. You helped put my family in an almost debt-free life through the stock and option plays that I made during my time as a customer of your service and that has made us very happy. You are a good man and I wish you and your family many years of joy and happiness. I wish I could do ads for you!
DaveJ
Hey I just did a nice options trade on LL for $800 (50%) gain thanks to this site, so… not bad for my first day! An hour of reading you guys and I already paid for two months subscription! Thank you!
lchu
Fed days are fun! Just for grins I decided to see how much money I could make in two clicks. I bought DIA calls right when the surge started and then sold them the minute they hit my account. Net gain of 20% in 20 seconds. Can't do that very often…
MrMocha
Your board has been fantastic helping the less experienced (includes me) navigate through all the turmoil. The contributions from your members has been well rounded, objective, and extremely helpful. Sans the politics you have built a fantastic community and that is a tribute to you. I thank you and all fellow members for there contributions over the past few days. Fantastic group!
dclark41
Sold out my AAPL mar95 calls. Up over 100% today on them!
Singapore Steve
WOW, look at DRYS go. Nice call on the entry the other week Phil. I got 200 at $6.66 and sold a 7.5 call for $.50, then on the tear today sold another 7.5 call for $1. This should puts me in at an average of $5.91 and called away at $7.5 for a profit of $300+ after commisions. Once again another Phil trade pays for this months membership.
Craigzooka
As a fellow "low-end" investor I like Phil's Buy/Write strategy on solid stocks. Before I came here I loved to try to "figure things out" with very little success "TRYING TO FIGURE THINGS OUT"! I traded too much and fell in love with stocks that "should have done" what they didn't do. Now a majority of my accounts are in Buy/Writes suggested here or cash (waiting for a better time for more Buy/Writes). I use 15-20% of my total holding to short term trade and hedge. This is manageable with my full time job as a business owner. I have found Phil's system a more discipline way to achieve the returns I want without relying on my ability (more like inability to "figure things out").
DCalrk41
I'd like to wish Phil and everyone else that contributes to this board a very Merry Christmas and happy New Year. The wealth of knowledge on here is incredible, and it has greatly contributed to my understanding of markets, politics, and the world in general. This year was when Phil's teachings all seemed to click in place, and my portfolio's performance shot up, and for that I am very grateful. Thank you!
Palotay
Hi Phil,
Thanks for the free disaster hedge ideas. I implemented variations of two of them on SDS bull call spreads and EEM bear put spreads (haven't done the TZA yet) and they really hedged my short term longs nicely today. Makes it seem a lot less like gambling.
You are the man (of the people)!
Howard Roake
Phil - Moved today to send kudos. You're in my top 5 to see/read daily. I do not trade...
but as former econ-finance adjunct faculty near Stanford U. I give you lots of attaboys....
and provide your links to many to spread some understanding of the mess we are in. Best to you and yours,
HJ Kobbeman
I did the same thing via your logic (sold puts that is). I glanced one time and they were already up 15% which is considered a good return for an overnight hold in most circles. This is PSW though and to us it's just another day…
Kwan
hil, I hit my targets for the year in my 401K (thanks in no small part to your site), so I cashed out of all positions a couple of weeks ago. Feels good... I'm conservative with this money –looking for 2% per month, which i've been able to do… thx.
Lunar
Peace of mind / I have a portfolio mainly consisting of long term long calls, short term short calls and puts, and long term BCS. Three years, ago when I started my journey on this board I would be freaking out panicking as to what to do, as many of the short calls are ITM, Three years later (today) I look at the screen and serenely process the information. Three years ago, I inevitably made the wrong decisions which cost me a lot of money. Three years on I calmly roll the positions to whatever makes sense. No drama, no hair pulling, and a great cost saver. I guess they call that the power of education.
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
Phil, thanks for the webinar and options subject…I wasn't shown as attending but I was there for most of it. Your memory amazes me, your speed on the computer amazes me, your math skills blow me away. coke
Coke
Thanks super helpful re: UGN example…..other inflation/market-correction-defensive-related play you threw out that has jammed UP in less than a month is TITN 6/14 $15 puts, up 40%. Excuse my enthusiasm but haven't had those types of gains in multiple plays in years let alone days doing it on my own…….maybe I should host the PSW infomercial!!!!
People have been throwing around numbers in the millions and billions and trillions since the crisis started. Over time, the data deluge has turned into a flood, and, occasionally, it is even hard for someone like me — who has been tracking and analyzing this stuff for a while — to get a grip on what it all means.
Maybe that’s the strategy: overwhelm the masses with endless zeroes and hope they either zone out or lose sight of the fact that those numbers represent decades of poor decisions, misguided policies, and illegal acts.
That said, sometimes all it takes to get to the bottom of some of those numbers is to recast the data in graphical form — because, like they say, "a picture is worth a thousand words." In "The Jobs Gap," the Washington Independent highlights research from one think tank that does just that, and what it says about the state of the employment market is pretty striking:
In light of last week’s dismal September jobs report, Heidi Shierholz, of the Economic Policy Institute, updates her estimates of how many jobs the United States needs to create to get back to where it was, employment-wise, when the recession started.
The labor market remains an estimated 8.1 million payroll jobs below where it was at the start of the recession in December 2007. This number includes both the 7.8 million jobs lost in the payroll data as currently published plus the announced preliminary benchmark revision of -366,000 jobs to last March’s employment level. And even this number understates the size of the gap in the labor market by failing to take into account the fact that simply to keep up with the growth in the working-age population, the labor market should have added around 3.4 million jobs since December 2007. This means the labor market is now roughly 11.5 million jobs below the level needed to restore the pre-recession unemployment rate (5.0 percent in December 2007).
In graphic terms:
That begs the question: How will the economy get there? And leads to the worrying answer: It won’t, at least not anytime soon. Government spending — the kind that might, say, hire hundreds of thousands of construction workers — is out of the question. And that means private businesses will chip away at unemployment when the economy picks up a bit more, adding workers slowly, very slowly.
Since I started publishing Financial Armageddon in late-2006, I’ve often railed against the incompetence and tomfoolery of highly-paid Wall Street "strategists" (note the double quotes). Many of these so-called experts are clueless data-regurgitators or ivory tower economists with above average communications skills. Indeed, it seems to me that most of the "stars" of the forecasting game are simply being rewarded for having the gift of gab, rather than their ability to look past the trees and size up the layout of the forest.
But as with most generalizations, there are exceptions. Surprisingly — yes, I am cynical — a very small number of those who know what they are talking about, have something intelligent to say, and know how to translate their insights into clear and interesting prose have been recognized as such. I am referring in particular to Albert Edwards, the number-one ranked global strategist for I-don’t-know-how-many-years running, and his sidekick Dylan Grice, who placed second overall in the 2010 Thomson Reuters Extel Survey, both of whom are members of the strategy team at Societe Generale.
In his most recent Global Strategy Weekly, Mr. Edwards touches upon two topics near-and-dear to my heart: the real state of the economy and the utter cluelessness of most equity investors [italics mind]:
The current situation reminds me of mid 2007. Investors then were content to stick their heads into very deep sand and ignore the fact that The Great Unwind had clearly begun. But in August and September 2007, even though the wheels were clearly falling off the global economy, the S&P still managed to rally 15%! The recent reaction to data suggests the market is in a similar deluded state of mind. Yet again, equity investors refuse to accept they are now locked in a Vulcan death grip and are about to fall unconscious.
The notion that the equity market predicts anything has always struck me as ludicrous. In the
Reports like those that follow help make it clear that the problems we face are structural rather than cyclical. Myriad bad policies and a distorted sense of economic reality — no doubt fed by ruthlessly self-interested corporate and political interests — encouraged large numbers of Americans to acquire knowledge, skills, and perspectives that are really only relevant in an easy-money-fueled economy.
Once the bubble bursts, however, they are as unprepared for changing times as a proverbial fish out of water. And yet, we still have a growing chorus of mindless Keynesians, ivory tower economists, Wall Street strategists, and assorted other pseudo-experts pushing for more stimulus, more borrowing, more tax cuts — more of the hair of the dog that bit us to begin with.
If government is going to do anything at all — which seems inevitable, like it or not — wouldn’t it be better if the those in charge focused on telling people the cold, hard truth about where things stand; directed efforts towards helping Americans adjust to a new operating environment, instead of the one that is not coming back; and, rejigged policy incentives — like those that favor borrowing and homeownership — in ways that might prove more beneficial in the long run?
As the United States continues its battle with high unemployment, policy makers are confronting a troubling question: What if they’ve been taking the wrong approach to fixing the ailing job market?
…
Some prominent economists and policy makers are…suggesting the real problem isn’t lack of consumer spending – it’s that the unemployed don’t have the right skills to fill the jobs that are open.
These people are now theorizing that the financial crisis has altered the structure of the U.S. labour market, perhaps permanently.
If they’re right, the Obama administration and the Federal Reserve will need to change their approach to increasing employment because their current one, which is aimed at stoking spending, could end up exacerbating the conditions that led to the financial crisis.
Raghuram Rajan, a professor at the University of Chicago’s Booth School of Business, argues the U.S.’s high unemployment rate is the result of structural changes rather than a cyclical downturn in demand. He reasons the U.S. housing bubble
In my latest column for DailyFinance, "The Disconnect Between Consumer Confidence and Retail Sales," I argue that the yawning gap between these two measures is telling us something. Chances are, it’s saying that consumers know better than the official statistics about what’s really going on in the U.S. economy.
Morgan Stanley’s Stephen Roach is the featured guest on the Wall Street Journal’s Big Interview, and unlike many of his peers, he relies on facts rather than fantasy in formulating his economic outlook. Given what you and I already know about the reality on the ground, it’s no surprise to find that Mr. Roach is less than sanguine about where things stand:
WSJ: You’ve been warning of a disappointing U.S. recovery, so I’d like to ask you right off the bat: Just how likely do you see the prospects of a double-dip kind of event?
Roach: I give it a higher probability than most — maybe 40% at some point over the next year. We have a weak recovery, weak labor market, weak consumer purchasing power, and a consumer — 70% of the economy — that is still massively overextended in terms of debt; unprepared in terms of savings; and unable to rely to rely on property and credit bubbles to support consumption. So, if you have a disappointing consumer and any kind of an unexpected shock, you can go down again.
OK, let’s go through this one more time. Despite what we keep hearing from the politicians and moneymen, things are not getting better. Yes, we have seen the economic equivalent of a dead cat bounce — how could we not, given the trillions that have been thrown at the system — but it is simply not sustainable.
The reality is that we’ve just careened through decades of overborrowing and malinvestment, which created an array of dangerous imbalances and undermined our nation’s economic foundations. Now that the party is over, the wreckage is going to weigh on our prospects for years, if not decades.
Unfortunately, those who live in a bubble (i.e., Washington) or who’ve come to depend on them (e.g., Wall Street) have not seen through the fog of funny money policymaking. But as Bloomberg reports in "Americans Grow More Pessimistic on Economy, Nation’s Direction," the average Joe (and Jane) seem to have their eyes wide open when it comes to today’s depressing reality.
[Click on table to enlarge]
Americans have grown gloomier about both the economy and the nation’s direction over the past three months even as the U.S. shows signs of moving from recession to recovery.
Almost half the people now feel less financially secure than when President Barack Obama took office in January, a Bloomberg National Poll shows.
Those concerns have put consumers in a miserly mood as they head to the mall for holiday shopping, with half the country planning to spend less on gifts than last year and few buyers willing to run up credit-card debt for Christmas.
“The recession may be over, but the administration seems to be losing the battle when it comes to winning the hearts and minds of Americans,” says Chris Rupkey, chief financial economist for Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. “This is important because the spending of consumers is the main factor that will turn the economic recovery into a self- sustaining one.”
Obama yesterday addressed anxiety over the economy with a speech proposing new spending on the nation’s transportation system, tax credits to spur hiring by small businesses and incentives to make homes more energy efficient.
Unemployment in November stood at 10 percent, a drop from 10.2 percent in
Just over a week ago, Bloomberg revealed in "Geithner Says Commercial Real Estate Woes Won’t Spark Crisis," that the U.S. Treasury Secretary did not appear to be overly concerned about the threat posed by brewing problems in the commercial property sector:
U.S. Treasury Secretary Timothy Geithner said commercial real estate woes won’t set off a new banking crisis, in remarks to the Economic Club of Chicago.
“I don’t think so,” Geithner said, when asked whether commercial real estate could set off another banking meltdown. “That’s a problem the economy can manage through even though it’s going to be still exceptionally difficult.”
The global economy has accelerated since the worst of the recession and banking crisis last year, Geithner said, noting a U.S. Commerce Department report today showing the economy expanded 3.5 percent in the third quarter.
“You can say now with confidence that the financial system is stable, the economy is stabilized,” Geithner said. “You can see the first signs of growth here and around the world.”
Is he serious? All you have to do is spend about 15 minutes reading through just a few of the reports that were published recently and it quickly becomes apparent that a tsunami of red ink is forming in the sector, ready to come crashing down on the whole of the banking sector — as well as the economy — in the immediate period ahead:
Unrealistic assumptions, layers of investors, sky-high prices, and possible fraud will make it hard to clean up the mess in commercial real estate
When Goldman Sachs (GS) sold complex bonds backed by the Arizona Grand Resort and other commercial properties in 2006, it suggested the returns would be strong. The 164-acre luxury Arizona Grand, set against the Sonoran Desert in Phoenix, boasted an award-winning golf course, deluxe spa, and several swank restaurants. The on-site water park was named one of the best in the country by the Travel Channel. With the resort’s new owners planning to refurbish hotel rooms and common areas, Goldman told investors that the renovations would help boost cash flow.
As was so often the case during the real estate boom, the lofty projections didn’t pan out. When the economy softened and business travel
On Monday, I was among a group of eight bloggers who attended a discussion with "senior Treasury officials" in Washington. Several nice accounts of that meeting have already been posted (see roundup below). Here’s mine.
First, I’d like to thank the "senior Treasury officials" for taking the time to meet with us, and for being very gracious hosts. Whatever disagreements one might have, in statistical if not moral terms it was an extreme privilege to sit across a conference table and have a chance to speak with these people. And despite the limitations of the event, I’d rather there be more of this kind of thing than less. So a sincere tip o’the hat to all of our hosts. Thank you for having us.
The second thing I’d like to discuss is corruption. Not, I hasten to add, the corruption of senior Treasury officials, but my own. As a slime mold with a cable modem, it was very flattering to be invited to a meeting at the US Treasury. A tour guide came through with two visitors before the meeting began, and chattily announced that the table I was sitting at had belonged to FDR. It very clearly was not the purpose of the meeting for policymakers to pick our brains. The e-mail invitation we received came from the Treasury’s department of Public Affairs. Treasury’s goal in meeting with us was to inform the public discussion of their past and continuing policies. (Note that I use the word "inform" in the sense outlined in a previous post. It is not about true or false, but about shaping behavior.)
Nevertheless, vanity outshines reason, and I could not help but hope that someone in the bowels of power had read my effluent and decided I should be part of the brain trust. The mere invitation made me more favorably disposed to policymakers. Further, sitting across a table transforms a television talking head into a human being, and cordial conversation with a human being creates a relationship. Most corrupt acts don’t take the form of clearly immoral choices. People fight those. Corruption thrives where there is a tension between institutional and interpersonal ethics. There is "the…
Our freedom depends on our government enforcing and abiding by the law. It’s apparent that we are headed down the slippery slope Justice Louis Brandeis describes in Olmstead v. United States (1928):
"In a government of laws, the existence of the government will be imperiled if it fails to observe the law scrupulously. Our government is the potent, the omnipotent teacher. For good or ill, it teaches the whole people by its example. Crime is contagious. If government becomes a lawbreaker it breeds contempt for law: it invites every man to become a law unto himself. It invites anarchy."
We have the Federal government’s massive and flagrant display of lawlessness, and population somewhere on the way from apathy to dependency in the Fatal Sequence cycle of civilization. – Ilene
Before the era of Frankenstein Finance and the fanatical focus on fee-based income, lenders tried to hold themselves out as models of probity (for the skeptics out there, I did say "try."). Those responsible for making credit-granting decisions and looking after the interests of shareholders also demanded that borrowers meet certain standards before they would see even a dime of their employers’ money. These criteria are known as the "5 C’s of Credit," which are the
key elements a borrower should have to obtain credit: character (integrity), capacity (sufficient cash flow to service the obligation), capital (net worth), collateral (assets to secure the debt), and conditions (of the borrower and the overall economy).
In an interesting twist of fate, the firms that have traditionally decided who should get credit have been put in the position of needing extraordinary amounts of other people’s money just to stay alive. Unfortunately, based on what we’ve seen so far, including reports like those that follow, it’s doubtful whether most, if not all, of today’s troubled financial institutions would even qualify for a loan based on traditional measures of suitability — like "character," for example — if their friends in high places weren’t so intimately involved in the process.
In Financial Armageddon, I wrote about "four impending catastrophes": debt, government guarantees, the retirement system, and derivatives. But well before the first pages of my manuscript saw the light of day, I was particularly concerned about the latter aspect.
In fact, I’ll let you in on a little secret: the article I published in November 2005, "The Coming Disaster in the Derivatives Market," was actually derived from material in my original book proposal, tentatively entitled FWMDs: Financial Weapons of Mass Destruction, after Warren Buffett’s famous remarks on the subject in Berkshire Hathaway’s 2002 annual report.
Eventually, the publisher and I decided that there was a bigger story there, which proved to be far more accurate than anybody (including me) realized at the time, and I set forth my vision of how the derivatives menace would come to interact with the various other threats I saw lurking in the shadows.
Yet even with all that has happened so far, it’s hard to ignore the fact that the house of cards that was built on this labyrinthine mass of paper promises remains a serious threat to the financial system and the economy.
Derivatives caused the market Armageddon of recent years and if left unchecked by global leaders, the same market could cause another catastrophe, Mark Mobius, executive chairman of Templeton Asset Management, told CNBC Monday.
When asked by a CNBC viewer what kind of Armageddon could be expected if the derivatives problem is not addressed, Mobius replied: “The same kind of Armageddon that we just had, what we just saw in the last few years has been caused by derivatives.”
The lack of liquidity, transparency, coupled with its sheer size means the derivatives market poses a major risk to financial stability, according to Mobius. The currency derivatives market is especially at risk of causing problems, but interest-rate derivatives also, he said.
Mobius thinks that global leaders meeting for the G20 summit in Pittsburgh next week should focus almost solely on the derivatives trade. Debates over how much bankers are paid in bonuses should be bumped down the agenda,
Three time best-selling book author Nomi Prins says long before the Covid 19 crisis, the global economy was faltering big time. The Fed stepped in with the start of massive money printing in late 2019 to save the day.
Prins explains, “We were already in crisis mode as I mentioned at the end of my last book going into 2019."
I don't see how universities can be safely reopened. Classes may have to shift to largely or only online. Dorms, if they reopen, would probably need to limit rooms to one person, and maybe only for students without other options. This would obviously be a financial disaster for many colleges and millions of people. The federal government would ideally step in to help universities and employees survive financially. Any thoughts?
Ethical challenges loom over decisions to resume in-person college classes
I don't see how universities can be safely reopened. Classes may have to shift to largely or only online. Dorms, if they reopen, would probably need to limit rooms to one person, and maybe only for students without other options. This would obviously be a financial disaster for many colleges and millions of people. The federal government would ideally step in to help universities and employees survive financially. Any thoughts?
Ethical challenges loom over decisions to resume in-person college classes
By Sven Carlin. Originally published at ValueWalk.
Facebook, Inc. (NASDAQ:FB) stock crashed 8.32% on Friday because of the announced ad boycott by many companies like Unilever, Coca Cola, recently Starbucks on Sunday that might push the stock down even more during this week.
However, investing is about knowing how to differentiate between the noise and fundamentals and we discuss Facebook's recent news and compare it to FB fundamentals.
Every market corrects, maybe profit taking, maybe of allowing those who missed out, to get in!
The current open interest on the gold contract looks to high after a very fast price move, it looks like 2008 may be repeating. A quick flushing out of the weak hands open interest may take place before a real advance in price takes place. The correction may be on the back of a wider sell off of risk assets (either before of after US elections) as all assets suffer contagion selling (just like 2008).
This blog view is a gold price correction of 10% to 20% range is a buying opportunity. Of course we may see a very minor price correction but a long time correction, a price or time is correction is expected, we shall watch and...
We’ve continued to attempt to warn investors of the risks ahead for the US and global markets by generating these research posts and by providing very clear data supporting our conclusions. Throughout the entire months of May and June, we’ve seen various economic data points report very mixed results – and in some cases, surprise numbers as a result of the deep economic collapse related to the COVID-19 virus event. This research post should help to clear things up going forward for most traders/investors.
As technical traders, we attempt to digest these economic data factors into technical and price analysis while determining where and what ...
The tech bubble didn’t end well. BUT it did tell us that the world was shifting into the technology age…
Since the Nasdaq 100 bottomed in 2002, the broader markets have turned over leadership to the technology sector.
This can be seen in today’s chart, highlighting the ratio of Nasdaq 100 to S&P 500 performance (on a “monthly” basis).
As you can see, the bars are in a rising bullish channel and have turned sharply higher since the 2018 stock market lows. This highlights the strength of the Nasdaq 100 and large-cap tech stocks.
The COVID 19 pandemic is, predictably, worsening again in much of the US. Only the Northeast, and to a lesser extent some Midwestern states, have been consistently improving. And that trend could also reverse as those states fully reopen.
The problem in the US seems to be widespread public resistance to recommended practices of social distancing and mask wearing. In countries where these practices have been practi...
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...
Ilene is editor and affiliate program
coordinator for PSW.