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
Phil: Closed out ZION with 49 % gain!
RMM
Hello Phil,
Thanks for the heads up on the comming sell off on friday, and the bs job yesterday. your our guiding light!
Microflux
Phil, I was so impressed with the personal note in the comments that I went ahead and paid for a months trial of premium that I have been on the fence for awhile about. Just reading the comments makes me already glad for the purchase.
Smasher
Phil/thankyou. Phil, I went over the recording of last weeks webinar. I liked it a lot and wanted to thank you. I thought the case studies (company reviews) were detailed, I learned more about selling puts process and also what happens if stock continues to go down after that, I liked the fact that we discuss so many different avenues like stocks, optiond, futures, oil, commodities etc… I replayed portions of it multiple times to make sure I was grasping it but wanted to say good job. Thanks…
Nramanuja
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
Phil/ Thanks to your obsessive bearish anxiety over the last few weeks, I made money on the long side this month, phased gradually to bearish, came in net short today and managed to make money both long and short all week, ending today [and each day this week] in the green. I don't know how you do it, but thank you.
Zeroxzero
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
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
I'm just starting my second year as a member, and I'd like to thank all of you for sharing your trading ideas and insight, and especially Phil of course for great all-around investing advice as well as trades! In addition to learning patience and profit-taking, I think one of the most important things I'm learning here is to stick to stocks and trades that suit my temperament. And wow, I had NO idea how hard it was to learn patience. I should say "practice" instead of "learn", because it seems to be a constant struggle. Phil, please keep reminding us how nice CASH is!
Jerseyside
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
I love it when a trade really comes together. After 4 DD's and a roll, I cashed out 16 times my initial position in TLT today for a 140% gain. Thank you Phil for the lessons in scaling in, and paying for position.
2Can
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!!!!
stevegeb200
Phil – BTW, the new STP/LTP coupled with the income portfolio is Perfect! I do not trade all of them, very few actually since I work during market hours. However, following the trades real-time is very educational.
I did enter the ABX call if you recall, I rolled to July on that nonsense news that sent it tumbling. Out today for 110% gain (2.00 stop) not counting covering the loss from the earlier roll. Nonetheless, a good trade.
Keep it up…. Thanks
JFawcett
Phil, I'm up 34x what I paid in fees for your service, and that only counts the trades I didn't think of myself. Thanks!
Barfinger
Thank you Phil for this site – the trade discussions on PSW are mind boggling. Future trading while learning to be a value investor. Priceless
Joseph
Phil, I have to hand it to you. It seemed that you were the only person on the planet that thought stocks falling was still possible. I am glad I listened. About the end of the year I was really beginning to second guess though. Thanks for suggesting taking some profits last Nov. It no longer looks like I missed much.
rj_jarboe
Looking over your main themes last week, the "China may fall first" and "if you missed it previously, Thurs am gives you a second chance to short" were absolutely on target. I had to rely on stop-losses because of my schedule but just those two calls could have been worth a small fortune. Keep it up and I look forward to your new portfolio.
Ocelli
PHIL: The most important lesson I have learned is how to hedge using SQQQ, SDS and TZA. A big thanks.
IHS4God
What a quarter! (AAPL, etc.) "People react; PSW'ers anticipate." Thanks everyone for a vibrant board.
Silentstorm
Joined last year and and started profitably trading options thanks to everything I have learned here. THANK YOU!!
OnWisconsin
Dear Phil, I have followed along with your commentary and alerts and have been flabbergasted at your quick analytical skills and your journalistic skills to explain it clearly. In a little over three weeks I have cleared almost 1000.00 dollars and got an intensive education at the same time. I would like to immediately upgrade my membership. It is hard for me to follow all evening as I am in Tokyo but I can join you at the beginning of the market and read the next day.
Tokyolife
I have been a member off and on for years. Using these techniques I do consistently beat the S&P 500. Phil's Stock World has been the most important site in my financial life. It's impact on me over the past years has been huge. As have my tax bills!
Knightpilot
Phil/Eric/Cwan/Matt/Cap/etc.. - I've learned so much from all of you and want to thank you. I'm up 23% this month thanks to all of your advice - Thanks, guys!
Josiah
1,000% on SKF - It was a freakin' monster into the center field bleachers! I saw it play out live and squawked it from the StockTwits ID which 14k people follow: Home run trade of the week @philstockworld just knocked cover off ball w $SKF puts. http://bit.ly/piBL Great trade bud!
Phil Pearlman - StockTwits
Phil: I cleaned up today. A rather stark contrast to my untutored performance April/May 2009, after I had written to you to explain how wrong-headed your bearishness was. Many thanks.
I ran into someone once who played on the Bulls with Jordan for quite a few years. He was asked what he had learned from playing with MJ for so long. He smiled and said "Give him the ball."
Zeroxzero
Phil/CLK4 – Perfect! Saw the answer 1 min after my post…out with $740 on two contracts. Thanks again for the education.
Jeffdoc2004
Phil… My portfolio, in the past few months, has acheived a high degree of stabilization. I've noticed that on up days, down days, even days, it doesn't matter, my portfolio rarely varies more than 2%. And over the long haul it just slowly increases in value. I attribute this not to investment choices, but to style. Thanks to you and others on this site I'm paying close attention to position size, delta neutrality, downside protection, and concentrating on selling premium rather than buying it. I've developed increasing patience, not having to trade daily, or even weekly. I'm concentrating on the finer points of trading, letting the profits come to me, rather than the other way around. I appreciate the help everyone here has given in getting me focused on this principle. I'm pumped!…in a calm sort of way.
Iflantheman
Phil/ et al- Thanks for the answers to my spread questions last night, as I really needed that little piece of knowledge to crystallize my understanding of spreads. Your help is much appreciated and I have been doing really well for the last couple of months with fewer and fewer missteps as I embrace the PSW ways and watching my portfolios grow.
Craigsa620
I would like to thank Phil and PSW crew for the insight and assistance (even the liberals).
In December I initiated long stock positions buying stock, writing calls and puts in AAPL, WFR and CHK (scaling in and out). Over the last week I have been trimming back my positions selling stock and taking out my callers and putters. I am now back to my initial 25% position that I started with in December. However this time, my cost basis on shares AAPL, WFR, and CHK is $0! With money to spare from those positions.
SigTarp Neil Barofsky has just released the most scathing critique of all the idiots in the administration, with a particular soft spot for Tim Geithner.
On the failure of TARP to increase lending:
As these quarterly reports to congress have well chronicled and as Treasury itself recently conceded in its acknowledgement that "banks continue to report falling loan balances," TARP has failed to "increase lending" with small businesses in particular unable to secured badly needed credit. Indeed, even now, overall lending continues to contract, despite the hundreds of billions of TARP dollars provided to banks with the express purpose to increase lending.
On TARP’s sole success of boosting Wall Street bonuses:
While large bonuses are returning to Wall Street, the nation’s poverty rate increased from 13.2% in 2008 to 14.3% in 2009, and for far too many, the recession has ended in name only.
On TARP’s failure in general:
Finally, the most specific of TARP’s Main Street goals, "preserving homeownership" has so far fallen woefully short, with TARP’s portion of the Administration’s mortgage modification program yielding only approximately 207,000 ongoing permanent modifications since TARP’s inception, a number that stands in stark contrast to the 5.5 million homes receiving foreclosure filings and more than 1.7 million homes that have been lost to foreclosure since January 2009.
On the Treasury’s scam in minimizing publicized AIG losses, and on Geithner as a Wall Street puppet whose actions are increasingly destroying public faith in the government:
While SIGTARP offers no opinion on the appropriateness or accuracy of the valuation contained in the Retrospective, we believe that the Retrospective fails to meet basic transparency standards by failing to disclose: (1) that the new lower estimate followed a change in the methodology that Treasury previously used to calculate expected losses on its AIG investment; and (2) that Treasury would be required by its auditors to use the older, and presumably less favorable, methodology in the official audited financials statements. To avoid potential confusion, Treasury should have disclosed that it had changed its valuation methodology and should have published a side-by-side comparison of its new numbers with what the projected losses would be under the auditor-approved methodology that Treasury had used previously and will
Some rather scary predictions out of Paul Farrell today: "It’s inevitable: Wall Street banks control the Federal Reserve system, it’s their personal piggy bank. They’ve already done so much damage, yet have more control than ever.Warning: That’s a set-up. They will eventually destroy capitalism, democracy, and the dollar’s global reserve-currency status. They will self-destruct before 2035 … maybe as early as 2012 … most likely by 2020. Last week we cheered the Tea Party for starting the countdown to the Second American Revolution. Our timeline is crucial to understanding the historic implications of Taleb’s prediction that the Fed is dying, that it’s only a matter of time before a revolution triggers class warfare forcing America to dump capitalism, eliminate our corrupt system of lobbying, come up with a new workable form of government, and create a new economy without a banking system ruled by Wall Street." And just like in the Hangover, where the guy is funny because he’s fat, Farrell is scary cause he is spot on correct.
Handily, Farrell provides a projected timeline of events:
Stage 1: The Democrats just put the nail in their coffin confirming they’re wimps when they refused to force the GOP to filibuster Bush tax cuts for billionaires.
Stage 2: In the elections the GOP takes over the House, expanding its strategic war to destroy Obama with its policy of “complete gridlock” and “shutting down government.”
Stage 3: Post-election Obama goes lame-duck, buried in subpoenas and vetoes.
Stage 4: In 2012, the GOP wins back the White House and Senate. Health care returns to insurers. Free-market financial deregulation returns. Lobbyists intensify their anarchy.
Stage 5: Before the end of the second term of the new GOP president, Washington is totally corrupted by unlimited, anonymous donations from billionaires and lobbyists. Wall Street’s Happy Conspiracy triggers the third catastrophic meltdown of the 21st century that Robert Shiller of “Irrational Exuberance” fame predicts, resulting in defaults of dollar-denominated debt and the dollar’s demise as the world’s reserve currency.
Stage 6: The Second American Revolution explodes into a brutal full-scale class war with the middle class leading a widespread rebellion against the out-of-touch, out-of-control Happy Conspiracy sabotaging America from within.
Stage 7: The domestic class warfare is exaggerated as the Pentagon’s global warnings play out: That by 2020
Iceland represents an interesting situation. Most people are not very familiar with it. With only 300,000 inhabitants, Iceland certainly fits the description of a ‘microcosm.’ The story of the privatization of the Icelandic banks, and the ensuing orgy of credit expansion and fraud, is well worth some attention.
Banks that are private sometimes should be allowed to fail. One might consider saving the depositors, especially if it is a fraud, and certainly if the accounts are explicitly insured, but the creditors and investors should be wiped out, utterly and completely. This is the only way to wring moral hazard out of the system. This of course should be accompanied by vigorous and aggressive investigations for fraud, and prosecutions if the evidence indicates for indictment. I would follow those perpetrators to the ends of the earth, seeking their extradition, to insure that justice was done. These people are little better than traitors to their country and their people.
We tend to treat these sorts of banking frauds far too lightly. They are like poison to the system, because they not only involve the theft of funds, but the destruction of the confidence and integrity which permits the social system to function.
Their reform movement and new approaches to banking in Iceland are hopeful signs. They should not even think about joining the EU, or taking any loans for their banks.
They might also consider relieving the Social Democrats of power, because it sounds as if they are not interested in serving the people. The only question I would have is, "Why are they still in office, and not out on the street looking for employment?"
While not mentioned in the video, the implications of the recent Icelandic Supreme Court’s decision on the illegality of loans indexed to foreign currency baskets may be significant.
Under the provisions of the IMF Articles of Agreement, courts of other member states, including the US, UK and the Netherlands, are presumably/arguably barred from reaching a different conclusion. See, Article VIII, Section 2(b):
(b) Exchange contracts which involve the currency of any member and which are contrary to the
May 13 (Bloomberg) — Nassim Taleb, a professor at New York University and author of "The Black Swan: The Impact of the Highly Improbable," talks with Bloomberg’s Erik Schatzker about the May 6 stock market selloff and his investment strategy. Taleb also discusses the drivers for the financial crisis, the U.S. economy and the performance of Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben S. Bernanke.
Nassim Taleb:
"When a bridge collapses, you don’t look at the last truck that was on it. You look at the engineer. You go look for structural…flaws." (In regards to Universa’s trade that’s been connected to the market collapse.)
"The crisis of 2008 wasn’t a black swan event."
"A black swan is something that depends on the observer… For the turkey, Thanksgiving is a black swan, but not for the butcher."
The ECB is in a most unenviable position. As the EMU begins to falter they are confronted with few tools with which to fight this battle. The market called their bluff yesterday with the Greek bailout and is clearly looking past Greece at Portugal and Spain while daring the ECB to make a move on either country. The bond “vigilantes” are betting on the fact that the ECB has overplayed their hand with the Greek bailout. At this point, it looks like the vigilantes are correct. The ECB put a gun on the table and it turns out to have been nothing more than a water pistol. Unfortunately for the vigilantes the ECB is not out of tricks. They have a Hank Paulson like bazooka in their option to buy bonds on the secondary market. But can they use it? RBS analysts believe they should not hesitate in acting:
“The ECB should not wait for a renewed deterioration of the periphery before acting. It should regain its leadership in tackling the crisis following a complete communication and coordination failure amongst euro area fiscal authorities around the Greek crisis. Should contagion reappear, there will probably not be enough time to go through a similar backstop facility to that of Greece for the next country. There simply will not be enough time. Better breaking the rule-book than breaking up the euro area!”
Unfortunately, the decision is a bit more complex than the Fed’s decision to buy assets directly from the U.S.banks – what many refer to as “quantitative easing”. As we’ve previously explained, the Euro is flawed primarily because it is one currency housed under several economies with multiple governments. They are not truly unified because their economic strategies differ which make their inherent monetary needs different. Using the same currency for economies as different as Germany and Greece is truly forcing a square peg in a round hole.
Where are the potential roadblocks to QE? First of all, the program would have to be massive. Credit Suisse estimates that the cost to bailout Spain, Portgual and Greece could be as high as $600B. The program would almost certainly have to be as large in order to quell any and all market fears. But the bigger roadblock is the Maastricht treaty. Although the ECB could technically…
One of the many massive distortions caused by the Fed’s miserable policies is hitting hard on senior citizens who cannot afford stock market losses but need fixed income to live on.
"California Banker" writes
Hey Mish
During the past several weeks we’ve had a lot of seniors coming to the bank as their certificate of deposits of mature. They are very disgruntled about the rate environment in general as bank rates are much lower than a year ago.
Many of these seniors are 70 and up and are using the interest to live on in retirement, so their interest income has taken a hit. I imagine most of those living off their interest will likely need to burn net worth to maintain living expense.
Some are moving their deposits to banking institution that a paying a slightly higher rate, which is typically an institution that is struggling and needs the deposit.
"California Banker"
To make a few extra pennies, senior citizens pull money out of rock solid institutions in favor of pathetically undercapitalized, troubled banks. But hey, it’s FDIC insured. Why not?
Hello Sheila Bair, can’t you see what’s happening?
Congrats Paul La Monica. Your editorial, “Shut up, Lloyd Blankfein!” is spreading like wildfire. It’s ‘gone viral’ as they say. However, it is clear that your knowledge of the issues involved is limited, at best.
It draws in populists with the provocative “Shut Up” headline, then morphs into stealth Goldman ass-kissing. It essentially tells Goldman-critics to man up and stop whining.
It starts out with a bit of promise:
The public relations gurus who are advising Goldman Sachs Chief Executive Officer Lloyd Blankfein might want to give him some new advice. Shut up!
Blankfein made a startling confession Tuesday. He apologized for Goldman’s role in the financial crisis, saying that the bank ‘participated in things that were clearly wrong and have reason to regret.’
But any redeeming qualities end there. He goes on to display ignorance in the subjects of finance and banking. He essentially argues that Goldman should be allowed to do as it pleases. This part particularly rankled me:
The notion that Goldman’s good fortune is a problem is silly. Even though many average Americans are still struggling financially, it’s misguided to suggest that everybody should be suffering and that the nation would have been better off if Wall Street went under. . .
Goldman Sachs is a bank. It’s supposed to make money. It’s supposed to take risks. Lloyd isn’t exactly running the March of Dimes.
Where to begin? Monica’s statement that banks are “supposed” to take risks is interesting. Because I thought a bank was supposed to safeguard people’s money, while making responsible loans to others. That’s how fractional-reserve banking works.
Goldman Sachs is an investment bank/hedge-fund with government guarantees. They’re not a “bank” in the traditional sense of the word.
When the U.S. converted GS and other “systemically important” firms to bank holding companies, it flat-out saved their asses. Ongoing perks include cheap Fed funds and the ability to issue government-guaranteed debt (Goldman still has around $20b in gov-backed debt).
And Monica says they are supposed to take risk, with explicit government-backing? That, my friends, is 100% pure garbage.
His statement that we should get off Goldman’s back, since they
I want to add that the bubble is also in outright & hidden bailouts…..Nothing really new but hours/days away from the next mega bailout ( FHA ) a sober summary how wasteful the resources are "squandered"..…..
> Für einen teiferen Einblick was die USA veranstalten müssen um überhaupt ein positives GDP Ergebnis auf die Beine zu stellen kann das in "A Sham GDP For A Sham Economy"…… nachlesen….
Now the U.S. government is going to not just extend but indeed expand the tax credits for homeownership. This is happening at a time when the fiscal deficit is 10% of GDP. Simply amazing. The sector already receives more in the way of government support than any other area, and it adds zero to the capital stock or productivity growth. Oh, but it makes us better citizens. Renting must be for losers.
And then we see that the Fed’s TALF (Term Asset-Backed Securities Loan Facility) program that began in March just broke the $90 billion mark. This has basically supported 75% of the growth in the asset-backed market, almost evenly split between auto credit and credit cards because at over a 130% household liability-to-disposable income ratio, the government seems to believe we don’t have enough debt on our balance sheets. Honestly — you can’t make this stuff up.
But here is the real kicker. The Federal Housing Authority (FHA). If you’re wondering how it is that the U.S. housing market has managed to rise from the ashes, well, consider that the government-insured FHA program moved into high gear this year and has basically filled the gap vacated by the private sector. (where default rates are really becoming a problem) should not go unnoticed (and they weren’t by the staff at the WSJ that uncovered the growing problems in yesterday’s edition — FHA Digging Out After Loans Sour on page A2).
The efforts to allow practically anyone to secure a mortgage not just
This kind of expertise from Wall Street Finest based only on hope of a better bailout deal ( proposed from a major sharholder…. ) sums the market action up….. At least S&P isn´t able to play the Pump & Dump like Goldman & others…. Keep in mind that AIG is one of the Zombie Stocks making up to 20 percent of daily NYSE volume…..
Diese "Expertenmeinung" die einzig und allein auf einem noch besseren Bailoutdeal ( passenderweise vorgeschlagen von einem der Hauptaktionäre ) basiert spiegelt recht schön wider was momentan an den Märkten abgeht…..Immerhin kann man S&P nicht wie z.B. Goldman vorwerfen das altbekannte Pump & Dump zu praktizieren…. Man sollte sich zusärtlich noch ins Gedächnis rufen das AIG eine der Zombie Aktien ist die momentan für knapp 20% des täglichen Handelsvolumens stehen…..
AIG jumped roughly 11% today after the powerful House Oversight and Government Reform Committee confirmed receiving a proposal from former CEO Maurice “Hank” Greenberg to restructure the government’s bailout of the insurance giant.
The reports prompted S&P Equity Research to boost AIG to “hold” from “sell.”
“We see this news buoying the shares near term,” S&P’s Catherine Seifert wrote in quick squib earlier today. But before you sink the kid’s college fund into AIG shares, keep this in mind:
It’s far from clear that there’s actually any actual equity value in this company.
“We note June 30 tangible common equity was minus $261.66 per share,” Seifert states
Needless to say that according to Yahoo Finance there is no sell rating (10 hold) on AIG…..;-)
"It’s almost as if the biggest credit bubble in history never occurred. Investors are increasingly convinced that a sustainable global recovery is emerging out of the wreckage. All praise to the central bankers for saving the world! I’m waiting till someone writes about the return of the Great Moderation and suggests Ben Bernanke is the new Maestro. Then I’ll know the lunatics have taken over the madhouse…yet again." Albert Edwards, Société Générale
What Simon Johnson is describing in this essay attached below is moral hazard, the corruption of the capitalist system introduced by a Fed (the Economic Donkeys) that recklessly exercises a function as ‘lender of last resort,’ in conjunction with a political environment (less sophisticated Economic Donkeys) that can be politely described as being driven by ‘regulatory capture’ rather than the less euphemistic ‘rampant corruption.’
Moral hazard is not a popular topic, on the left or on the right. When moral hazard was mentioned as a consideration in the bank bailouts proposed by then Treasury Secretary Hank Paulson, a popular liberal economist bombastically expounding with a blog (PLEBEWAG) went into a hissy fit of self-righteous indignation, condemning those who even think about things like ‘moral hazard’ as fundamentalist ethical Luddites.
The problem is that moral hazard is an ethical consideration, a restraint on the tools available for centralized financial engineering. This aversion to restraint is characteristic of neither the moderate right nor the left per se, but it does distinguish the statists from those who favor the individuals and ‘market-based capitalism.’
What can one think about these things, when so many economists can get it so wrong, for so long, with such passionate intensity, and remain largely unapologetic and unchanged themselves, swearing allegiance to the power of financial engineering with just a little more power and purview? Hence the proposal to centralize regulation in the Fed, surely one of the most bizarre suggestions after a crisis caused by the Fed that one can imagine.
It is all part of the momentum of the status quo, those who enable a system at least in part because they believe it in as a first principle, benefit from it, even if they are not direct participants, or may only wish to be beneficiaries of the greater power and prestige of the State.
This, in a nutshell, is how Wall Street works: just two months after JPMorgan was fined a record $1 billion criminal monetary penalty (to make sure not a single banker would end up going to prison) for rigging the gold and silver markets, Reuters reported that JPM - having clearly "learned" the tools of the gold rigging trade, has earned a record $1 billion in revenue so far in 2020 from trading, storing and financing precious metals, vastly outperforming rival banks.
The math simplified: JPM has spent $1 billion over the l...
By Jacob Wolinsky. Originally published at ValueWalk.
We extract the news component of short-selling activity by accounting for important cross-sectional, distributional differences in short interest. The resulting measure of surprise in short interest negatively predicts the cross section of both U.S. and international equity returns. Our results also indicate that this predictability originates from short sellers’ informed trading on mispricing and the market’s underreaction to the news component of short-sale reports. Consistent with the notion of costly arbitrage, the return predictability is stronger among illiquid, volatile stocks and stocks with high information uncertainty, but importantly, unrelated short-selling frictions.
By Jacob Wolinsky. Originally published at ValueWalk.
Managing Shipping Budgets in 2021: The Old Normal, the New Normal, or the Unknown?
As they plan their shipping budgets for the coming year, distributors and retailers are struggling to assess the pandemic-driven changes of 2020. SkyPostal’s A.J. Hernandez suggests a two-sided approach: be as careful as you can, while also being prepared for anything.
Building A Shipping Budget
(Miami, FL) November 23, 2020—While shipping managers would like to see some relief from the shocks and surprises of 2020, there are, says A.J. Hernandez, President and CEO of SkyPostal, Inc., a lot of reasons they’re probably not going to get it. According to a recent survey of industry exp...
The Trump Legal team filed more documents today in the appellate court. I tweeted a bit about how silly they were (let me know if you all want me to march through them). Then this happened:
Trump giving the go-ahead for the transition to get underway was (I believe) the closest he will get to conceding the election. Two amusing things happened. First, Trump tweeted this about 10 minutes after Emily Murphy submitted a letter saying she would move forward, and that she has made her decisions solely on her own and not at anyone’s direction. Looks like Trump wanted people to think that she was, in fact, acting at his direction.
In the long dark tunnel that has been 2020, November stands out as the month that light appeared. Some might see it as a bright light, others as a faint light – but it is unmistakably a light.
On November 9, Pfizer announced the interim results of its candidate vaccine, showing it to be “more than 90% effective” in preventing symptomatic COVID-19 in late-stage human trials. The news was greeted with joy.
Are Transportation stocks about to send a quality bullish message to other Dow indices this month? Sure could be!
This 3-pack looks at the Dow Jones Industrials, Transports, and Utilities indices on a monthly basis.
One week from the end of a month, the DJ Transports are attempting an important bullish breakout at (1). Unless a sharp reversal takes place in the next week, Transports could close out the month at new monthly closing highs!
The Dow is attempting to close at all-time highs this month, while the Dow Utilities Index remains a few percent below 2020 highs....
Since the US election, Bitcoin prices (in USD) have surged a stunning 40%, also lurching higher after each vaccine headline hit.
Source: Bloomberg
Getting ever closer to its all-time record high...
Source: Bloomberg
As crypto prices soared overnight, Bridgewater Associates founder Ray Dalio stepped back into the fray, saying in a Twitter thread that “I might be missing something about Bitco...
By Jacob Wolinsky. Originally published at ValueWalk.
There is no doubt that the use of technology to support client engagement initiatives brings both opportunities and threats but this has been brought into sharp focus this year with the COVID-19 pandemic.
The crisis has brought to the fore the need for firms to enable flexibility in client engagement – the expectation that providers will communicate to clients on their terms, at their speed and frequency and on their preferred channels, is now a given. This is even more critical when clients are experiencing unparalleled anxiety from both market conditions and their own personal circumstances.
Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels. This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.
This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...
The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign.
Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...
Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...
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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...
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