Posts Tagged ‘PPI’

Thursday Fakery – India’s Industrial Output Revised Down 83%

EPI WEEKLYFirst the good news: 

India's industrial production grew at a slower-than-expected pace in February, weighed down by a contraction in consumer durables and consumer goods.  Production of consumer durable goods shrank 6.7 percent in February from a year earlier. Consumer goods contracted 0.2 percent on year.  Inflation is still running at 6.7% but at least it's down from 6.95% last month.  Now the bad news, January's Industrial Production Report has been revised down from a blistering 6.8% to an almost contracting 1.14% (and when it's that low, 0.04% really matters!).  

It turns out the massive 38% run in the EPI based on all these FANTASTIC numbers coming out of India may have been based on totally false information and it's funny how the selling begin along with the release of that spectacular 6.8% report – almost as if some Bankster was pumping out fake data in order to bring in the suckers so he could unload his shares before the real data came out.  

Not that that would happen in our fine Kleptocracy, right?  We had a similar run-up in our markets as analysts raised their earnings expectations for the S&P 500 from $90 to $100 to $110 and then raised the multiple they felt should be applied from 10 to 11 to 12 to 13 to 14 to 15 or even 16 – coming up with huge targets for the S&P – as well as our other indexes.  This caused our markets to rocket higher as it was all sunshine and lollipops from our Corporate Media – all the way back to October.  

Now that all the sheeple have been herded into the markets at those MASSIVE valuations, suddenly estimates are going the other way – $105, $102 and now Gary Shilling says $80 may be the right number.  

Shilling notes the S&P's dependence on foreign earnings, a stronger Dollar, higher oil prices, consumer retrenchment and a hard landing in China (and India!) and he recommends going long Treasuries and short stocks and commodities (see Gary's 2012 Investment Themes).

 

SPY WEEKLYGarry was right on the money in 2011, missing just 3 out of
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Toppy Tuesday – Can the Dollar Fall Faster than our Indexes?

It's a race to the bottom!

While we may have thought we were flatlining yesterday near our breakout, Europe and Asia had a different view of our markets as we pulled back -0.5% to -1.73% when priced in other currencies.  While you may not care what happens in other countries, there are 6.5Bn people who would disagree with you there and the US is not the World leader anymore (despite what the citizens of the US may think) – we can no longer afford to ignore things like how exchange rates affect us.  Here's the chart for the Dow, S&P and Nasdaq priced in Dollars, Euros and Yen for the past two months:

Fortunately for the bulls (especially the commodity ones), the dollar has resumed it's pathetic decline as Obama and The Bernank have combined to dilute our currency by another $2Tn over the next 48 months, from about $14Tn to $16Tn (+14%) plus, possibly, the $110Bn of new $100Bills the Treasury is trying to run off.  This has sent the dollar back down from it's Thanksgiving high and now it's going to be all about whether or not we can hold that 78.5 line as our Congress finalizes their vote on the Obama Tax Cuts and another $1,000Bn of US debt taken by our citizens in order to hand another $650Bn to the top 1%.

When $100Bills are being printed faster than rolls of Charmin are being made, your currency is probably on it's way to a crisis.  You reach a certain point at which it's cheaper to just wipe your butt with dollar bills than to go to the store and buy toilet paper and, of course, we've all seen pictures of Germans in the 1920's, fueling their fireplaces by burning bills, which were cheaper than wood.  Of course stocks and commodities are going up when priced in dollars – they are making more dollars every day, even Disney now has cartoons trying to explain to kids why this is a bad idea.

On top of the relentless devaluation of our dollar-denominated assets, we also have wild rumors driving up demand for commodities by speculators, who are generally…
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Federally Frightened Friday

The Fed raised the discount rate – Big Deal! 

As I said in my Weekly Wrap-Up, recessions are for wimps and kudos to the Fed for finally pulling out the stick after all the soft talking they've been doing.  Meanwhile, I do not see what all the fuss is about – I did the math for Members last night and banks borrow about $89Bn at the discount window on a good day and 0.25% of $87Bn is a grand total of $22M – this is NOT going cause the fall of Western Civilization people!  What it does do is stop making the Fed the lender of first resort, which was never supposed to be their function in the first place

The MSM should be more concerned with the end of the TALF, which is where the Fed buys up toxic assets from the banks at face value (we'll all be paying for that later) and they just announced that the Fed's holding of Mortgage-Backed Securities went over the $1Tn mark yesterday, bringing the Fed's Balance Sheet to $2.25Tn of very questionable assets that they've bought for us from the banksters. 

Speaking of banksters – Kudos to Matt Taibbi for his excellent Wall Street’s Bailout Hustle.  As I said to Members, if it wasn't for Matt and Dylan Ratigan, I would have to be writing about this stuff instead of following the markets.  Thank goodness there are a few top-notch people investigating this nonsense with the ability to communicate their findings in a way that makes it interesting:

The nation’s six largest banks — all committed to this balls-out, I drink your milkshake! strategy of flagrantly gorging themselves as America goes hungry — set aside a whopping $140 billion for executive compensation last year, a sum only slightly less than the $164 billion they paid themselves in the pre-crash year of 2007.

The question everyone should be asking, as one bailout recipient after another posts massive profits — Goldman reported $13.4 billion in profits last year, after paying out that $16.2 billion in bonuses and compensation — is this: In an economy as horrible as ours, with every factory town between New York and Los Angeles looking like those hollowed-out ghost ships we see on History Channel documentaries like Shipwrecks of the Great


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THOUGHTS ON THIS MORNING’S DATA

THOUGHTS ON THIS MORNING’S DATA

Courtesy of The Pragmatic Capitalist

This morning’s shot across the bow came to us courtesy of China on reports that several Chinese banks have been told to curb their lending for the remainder of the month.  There is a growing sense of concern about the Chinese markets.  With property prices surging and a stimulus package that is still running hot, the Chinese might have added too much gas to their own fire.  Market participants are very aware of the importance of the Chinese markets to the global recovery.  Losing Chinese growth would certainly cause a massive relapse in the global economy.  If China sneezes the world will catch a cold….

Low angle view of the Acropolis and Parthenon, Athens, Greece

Making matters worse is the growing concerns in Greece.  As we mentioned earlier today the term structure in Greek sovereigns inverted – something we saw in Merrill and Lehman CDS just months before they went bust. This puts global leaders in quite a quandary.   I view last nights vote in Massachusetts as a sign that bailout nation is over with.  Any politician that votes for a bailout going forward will be tarred and feathered.  While Greece is likely to receive some form of aid this growing negative mentality could create future problems should another U.S. corporation (or state) require assistance from the Federal government. We tried to kick the debt can down the road and it’s looking like we’re going to need to kick it again (or heaven forbid – deal with it!).

Earnings were a bit mixed this morning, but generally better than expected. Aside from misses at Coach and Bank of America, the numbers were fairly strong.  The banks continue to report better credit trends, but a cautious tone has many analysts scratching their heads over the true strength of the bank balance sheets.  I agree with Felix Zulauf who thinks the banks are dead money from here.

The Redbook and ICSC data were both robust again and showing signs that the consumer is willing to spend despite continued de-leveraging.  ICSC reported a 2.6% climb in year over year sales while Redbook reported a 0.9% climb.

In other news, PPI came in fairly benign at 0.2% and housing starts disappointed to the downside.  Neither were major market moving news as the headlines have been dominated by the Republican victory and the concerns in China.

 


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Big Blah (CPI)

Big Blah (CPI)

Courtesy of Karl Denninger at The Market Ticker

Oil can and graph with American dollar

From the Bullcrap Lie Society (BLS) of our government this morning:

On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months the index increased 1.8 percent before seasonal adjustment, the first positive 12-month change since February 2009.

Most of the change was due to energy; gasoline was up sharply (as we saw yesterday in the PPI.)

Core was a literal zero.

Food was up a bit, but I continued to be puzzled by the difference between gasoline and "fuel oil."

Why?  Because "fuel oil" (that is, heating oil) is exactly the same thing as #2 diesel – that is, road diesel fuel.  The only difference is the tax (and the presence of dye in the heating oil to denote that the tax has not been paid.)  But for the legal (tax) issues you can run "heating oil" in your diesel car or truck, and vice-versa – they are identical products.

Used vehicles were also up materially – a reflection of the distortion from "cash for clunkers" still present in the data (it hit its maximum in October at +3.4%)  Prices for new vehicles were also up (again, the maximum was in October) – again denoting the "back-door" bailout of the automakers from cash-for-clunkers.  Unlike the new vehicle deal however, which you got a tax credit for, the buyer of a used car just got plain old-fashioned screwed through price-jacking caused by constraints in supply.  (Just wait though – in the new year when people can’t make the payments on those CFC deals, you’ll see what happens to used car prices…. supply and demand you know.. )

Medical care was up as usual (gee, how come it keeps rising faster than overall inflation?) and shelter costs were down (remember, this is not "housing", as that would expose reality – it is "owners equivalent rent")

All in all a blah report – but given the PPI that’s expected – the fun and games in the CPI report resulting from yesterday’s PPI should show up in a month or two.

 


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Toppy Tuesday Morning

Can we break higher on this low volume?

We've been waiting for traders to come back from their summer breaks but no sign of them so far.  Sill the market volume is at historic lows and still 80% of that volume is concentrated on a dozen financial stocks that simply get traded back and forth by robots every time the market needs a push in one direction or another

As David Fry's chart indicates, the only big volume stick we've seen in the past two months have come attached to big sell-offs.  In mid-August we were "just about to break higher" but gapped down instead and then again at the end of August, we reversed our low volume "recovery" with a big sell-off.  Here we are in the middle of September (that every two week thing) and THIS TIME, the analysts say it's different.  Different I guess because the volume has dropped by another 1/3 since our last fake rally. 

This, of course, does not stop us from "going with the flow" as running with the bulls can be very profitable but we are hedging A LOT and very cautious in our trade set-ups as we know how fast this can all turn around.  We took our short profits at yesterday's morning dip and added a mix of long and short plays during the day.  We did put our foot down on SRS and the Russell, playing the SRS to go no lower than $10.25 and the Russell not to break $600 this week and we'll be sweating out that one this morning as the pre-market pump has already jammed the futures up 40 points since Europe's open. 

Asia was mostly flat this morning but that does little to describe the madness at the Hang Seng, which was closed for the morning due to a Typhoon and opened for just 90 minutes in the afternoon where they dropped like a rock that was tied to a rock that was wearing cement shoes into the close.  Still, thanks to a 200-point gap up into the delayed open, the Hang Seng managed to finish the day down just 68 official points.   As soon as the US markets closed, dollar repair crews were rushed to the scene and they managed to get it back over 91 Yen in time for Japan's open and that helped the
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Monday Markets – Mr. Obama Goes to Wall Street

Today should be very interesting!

One year to the day after Lehman Brothers collapsed and precipitated a financial crisis that reverberated across the globe, President Obama will deliver a major speech on the financial crisis at Federal Hall in New York City at midday on Monday.  According to the White House: "He will discuss the aggressive steps the Administration has taken to bring the economy back from the brink, the commitment to winding down the government's role in the financial sector and the actions the United States and the global community must take to prevent a crisis like this from ever happening again."

As I had mentioned in our Year One Review of the Stock Market Crash, Obama and Wall Street did not get off to a great start but, even after the March crash, we are still up 20% since he was sworn in in January as the President has been EXTREMELY accommodative to Wall Street's needs (ie. free money) so far.  That has been the carrot - perhaps now it is time for the stick…

The Treasury just released a document entitled: "The Next Phase of Government Financial Stabilization and Rehabilitation Policies" which, at 51 pages, is a pretty neat review of the crash as well but I still prefer mine as it saves you an hour and has much better pictures.  There are many charts in the government's documents and they are not all that encouraging.  As the report concludes: 

We must address the structural weaknesses in our financial system that this crisis revealed. The Administration is working to gain approval of a detailed set of proposals to reform our regulatory system to address these weaknesses and keep our financial markets and economy on track to a sustainable recovery.

In addition to Obama speaking at noon, we have 3 Fed Governors making speeches today.  Duke speaks on Regulatory Reform at 8:30, Lacker talks about Financial Regulation at 12:30 (right after Obama) and Yellen gives an Economic Outlook at 3:50, just in time for a stick-save into the bell so we could have a wild ride this morning! 

Speaking of the Fed, I just read a great book called "The Creature from Jekyll Island," which our man Ron Paul calls: "What every American needs to know
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Testy Tuesday Morning – The Spin Is In!

We did get our stick save yesterday – only it came at 7:45 pm!

That's right, on pretty much no news at all and without any global markets open, the US futures all took off in synch at 7:45 last night and went up and up and up into Asia's open.  There was no particular news and Jim Cramer had just finished telling his viewers that the markets may be overbought.  Cramer also is now targeting a "3-5% decline," which is amazingly the exact decline I predicted last week and he also swiped my BBT pick as his "find of the day."  So good morning Jim, nice to have you back!  We don't mind Cramer stealing our buy picks because we have a full day advantage over his flock so welcome aboard suckers – er, fellow Cramer fans

Anyway, so the after-hours markets were flat but the ubiquitous futures market took off as soon as all the retail traders had their trading accounts turned off for the night and you would have thought something huge was happening to watch the relentless, non-stop, 3-hour climb in the Dow, the Nasdaq, the S&P and even the Russell futures that led into the Asian open.  Did this blatant manipulation of the indexes fool Asian investors?  Of course it did!  The Nikkei opened at 8pm EST and had gapped down to 10,200, exactly 4% off the high of 10,620 on Friday.  As I said to members in yesterday's chat, that 4% line is critical in the follow-through day on the 5% rule as it represents our expected bounce off 5%, so holding that line is still bullish.

Well, never let it be said that Mr. Stick doesn't know how to paint a bullish picture and the Nikkei was rescued from failing that 4% line by the relentless futures buying between 8pm and 10:30, which coincided with 9pm to 11:30 on the Nikkei, which just so happens to be when they close for lunch.  What happened at 11:30 Tokyo time?  Well, suddenly everyone lost interest in the US futures and they fell ALL THE WAY BACK to where they started in just 60 minutes.  Please Congress, whatever you do, don't look into this nonsense – better to just sit there in your little offices and say "the market forces are too complicated for me to understand" and
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Will We Hold It Wednesday? Industrial Production Edition

Whee, this is great!

Any excuse to take the markets higher and INTC was a good one last night.  We're thrilled because my 2:43 Trade Idea for members was "INTC Jan $17.50s for $1.28, speculative naked call with earnings tonight."  We don't do those very often but we looked primed for a pop and not much was expected from Intel, who were still expected to earn just 8 cents this quarter by the 44 analysts who are paid to follow them, despite the fact that they earned .11 last quarter (an 8-cent upside surprise) and had earned .28 last year in Q2.   That made the long call an excellent play since we were also willing to stick with them and add to the position if INTC had missed.   As it is, that should give us a nice 50%+ pop this morning! 

Other trades ideas from yesterday's Member chat were a GS put spread, AIG puts (and we can't wait for "earnings" on them!), DIA puts and calls as momentum plays, a YUM ratio backspread for the $5,000 Virtual Portfolio and a JPM bear put spread.  So we weren't overly enthusiastic in the run-up, mainly because we loaded up the truck in last week's dip with 18 bullish plays that I reviewed in the weekend wrap-up.  So we are looking for short plays to defend ourselves until we are sure what we have here is more than the proverbial "dead cat bounce" off our 33% retrace (which I discussed in Monday's post).  As I mentioned in yesterday's post, our upper targets to break the dreaded head and shoulders pattern are:  Dow 8,500, S&P 930, Nasdaq 1,825, NYSE 6,000 and Russell 510.  We're making good progress but nothing would be worse than failing this breakout and confirming the downward pattern so it will still be a tough week to get through, especially with todays manufacturing data, which we are concerned about.

David Fry INTC ChartI think David Fry summed it up for the skeptic's camp yesterday saying:

The AP headline today read: “Goldman Sachs’ $2.7B profit shows the firm’s prowess.” Good Grief! You have to hand it to Da Boyz, they know how to bedazzle Main Street. Anyone with a HAL 9000, their bad debts taken off their books, billions in public money to trade and most of their competitors (Bear Stearns and Lehman Bros.) eliminated


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Turning Up Tuesday – Can We Hold It?

I WAS really excited about yesterday's rally.

Meredith Whitney gave us the catalyst for the bear squeeze we expected But THEN I saw Cramer last night.  Nothing scares me more than watching Cramer's bandwagon do a 180 degree turn and head my way as he's been wrong and wrong and wrong and then wrong for months now.  Still, I'm going to try to ignore that noise and keep a level head, dealing with facts rather than fads to figure out which way thing will be going.  We were happily buying last week while Cramer was herding his sheeple out of the market and we'll be enjoying the free ride as he stampedes the masses back in, especially during expiration week but we'd rather see some honest, uptrending consolidation based on earnings than going back to early May's roller coaster model that hurt so many investors on both sides

We are, of course, thrilled with the move so far, as you can see from the new buy list that I put up over the weekend.  We cashed in our FXPs right at the top and went long on the DIA $83 calls at .40 as our 2nd trade of the day (the first was a long on GOOG into earnings).  Those calls finished at $1 (up 150% and we are done, of course) and we also went long on GLD while it was still low in our 10:31 Alert and I put up a hedged play on TNK but that was it.  We did all our buying last week, when things were cheap and we just spent the rest of the day waiting to see if we would make our target levels. 

As I said in yesterday's morning post, we were looking for 1,750 to hold on the Nasdaq as our primary indicator that we were going to hold our 33% pullback levels on the broader index so it's not really rocket science to see where that DIA trade came from as we timed it for right when the Nasdaq crossed back over the line after the morning dip.  Having a trading premise is always helpful and, in the 9:32 level watch to Members I had said: "Without $60 oil the best we can really hope for today is to claw back to our middle set of figures.  Earnings can take us up over the higher numbers
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Phil's Favorites

China makes it incredibly hard for foreign businesses to operate - but they stay because the money is just too good

 

China makes it incredibly hard for foreign businesses to operate – but they stay because the money is just too good

A shipping container passes the Golden Gate Bridge in San Francisco bound for Oakland, Calif. AP Images/Eric Risberg

Courtesy of Amitrajeet A. Batabyal, Rochester Institute of Technology

Doing business in China can be a diff...



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Zero Hedge

Nasdaq Shorts Crushed By Second Biggest Short-Squeeze In History

Courtesy of ZeroHedge View original post here.

At the end of September, we observed that the sharp if brief selloff in tech stocks last month has resulted in the second-highest ever pileup of shorts in the Nasdaq, and warned that a short squeeze was imminent:

Reminder: Nasdaq (NQ) short is the 2nd highest ever and 6-sigma https://t.co/f3FpQCJ7lK pic.twitter.com/HGIjqO00Nq

— zerohedge (@zerohedge) ...

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ValueWalk

Global Corporations Get Cracking On Oil & Gas Lending Exits

By Jacob Wolinsky. Originally published at ValueWalk.

From zero to fifty, global financial corporations get cracking on major oil & gas lending exits

Q3 2020 hedge fund letters, conferences and more

Accelerating divestment from oil and gas shows similar early trends to global financial institution’s exit from coal

Financial Institutions Restrict Oil And Gas Drilling In The Arctic

20 October 2020 (IEEFA): Fifty globally significant financial instituti...



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Chart School

Dow Gann Angle Update

Courtesy of Read the Ticker

Time to see what happens to the Dow post US elections.

The Dow Gann Angle Target 3 (from 2007 top) is on the table, and what a ride that will be. The FED went BRRRRR is all the fundamental news you need to know. Gann angles are very good tool to see how the masses are pushing price.


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The last two US elections saw Bitcoin and the DOW rally well for 6 months, due to stimulus. The most bearish 2020 US Election case for the markets is a Biden win with the Senate and Congress controlled by the Democrats, somehow this blog feels that is very unlikely. So what could go wrong!


...

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Kimble Charting Solutions

Will 2020 Mark Historic Low For Interest Rates?

Courtesy of Chris Kimble

US treasury bond yields have been trending lower for over 3 decades. Could the latest drop mark a significant low for bond yields and interest rates?

In today’s chart, we can see that interest rates have had several spike lows and highs, but that each low is lower and each high is lower. That’s the definition of a downtrend. BUT, each of these spike lows has resulted in big rallies within the downtrend channel. And each of these lows and subsequent rallies have been marked by significant momentum lows (see each green line and shaded box).

So is it time for short-term yields to rally?

Looking at the current set-up, we can see that yiel...



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Biotech/COVID-19

Coronavirus reinfection cases: what we know so far - and the vital missing clues

 

Coronavirus reinfection cases: what we know so far – and the vital missing clues

By Sheena Cruickshank, University of Manchester

As President Trump claims that he is immune to COVID-19 and isolated reports emerge of reinfection, what is the truth about immunity to COVID-19?

To date, there have been six published ...



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Politics

Dan's Covid Charts: Blue States vs. Red States Over Time

 

The trend of lower Covid-19 case numbers per capita in blue states compared to red states isn't itself surprising, but the magnitude of the differences may be. You can visualize the evolving differences in case loads by watching the infection's progression, as measured by cases per capita, at Dan's website.

[Visit Dan’s COVID Charts to see these amazing animated charts and more. Fortunately, Dan broke his Twitter hiatus to share his work.]

People say I should break my 12-year Twitter hiatus to share my latest animated COVID chart. It compares state cases factoring in partisanship since June 1, when science had proven methodology as to how to stop the spread after the initial sucker punch. ...



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Digital Currencies

Bitcoin: the UK and US are clamping down on crypto trading - here's why it's not yet a big deal

 

Bitcoin: the UK and US are clamping down on crypto trading – here's why it's not yet a big deal

Where there’s a bit there’s a writ. Novikov Aleksey

Courtesy of Gavin Brown, University of Liverpool

The sale and promotion of derivatives of bitcoin and other cryptocurrencies to amateur investors is being banned in the UK by the financial regulator, the Financial Conduct Authority (FCA). It is a...



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Mapping The Market

COVID-19 Forces More Than Half of Asset Management Firms to Accelerate Adoption of Digital Marketing Technology

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.

...

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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

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...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

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...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.