Phil/Everyone here/Thank you - What everyone here with their insightful comments (including yourself) has helped me with is that I'm greatly increasing my ability to trade more psychologically neutral, although I've got a ways to go. Two years ago I'd wake up early and my heart would race if futures weren't pointing exactly how I wanted… I've noticed an exponential leap in my discipline skills especially over this past two weeks. The old me would have ran with that trade for profits without even asking. Now I know that there are ALWAYS more trades and that I have PLENTY of options to turn a bad trade even. Also, it's more logical and less emotionally draining which lets me focus my faculties on my wife, college, my job, and studying for the ol' Series 7. Would it be safe to say that one of the most important skills to develop is the ability to adjust? I'd love to get to the point where I can look at a bracket and know, for example, what I need to sell for cover in what month in order to get my desired results. Both COF and my past DMM venture have been excellent learning experiences. Thanks, everyone. I look forward to further lessons.
Skasiah
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
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
Phil/USO Adjustment~~ Thanks for showing us the make it even (maybe even profitable) tricks for 'fixing' a losing position. I would have never known the trick if you didn't explain it. The option adjustment techniques are very helpful. Trading stocks would probably never offer that kind of flexibilities! Thanks!
Investwizard
Thanks for the oil tip Phil: Bot & sold the USO May 29 calls for net $125. Not bad for few minutes work.
JWick1981
Your discussion during your web seminar on SPX and SDS today was great. It really let me see how you look at the numbers and use the 5% rule to see where inflection points occur and what the bands look like. This was incredibly helpful. I actually sold out of my small short position at a good profit ( which was more a bet on a short term fluctuation rather than a hedge after listening to you) and will look more deeply at my portfolio and how to hedge it. In addition your view on hedging was also very helpful looking at the leverage you can get w/ a small spread, and protect portfolio against a big move against me. Thank you for your sharing this. Very helpful.
Batman
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
Phil, I don't know how I can thank you enough for your guidance this past week. I'm up significantly in my portfolio and I've never been so relaxed watching the market panic. Thanks once again for being here for us.
thechaser
There are a lot of us that have been here a long time and we all learn something everyday. Just keep asking questions, there are a lot of smart people here and they are willing to help and then of course, you have Phil.
Jr Mints
Phil fantastic call on the markets… I owe you BIG…thanks and have a great weekend!
Kustomz
Newer member here, but just wanted to say thank you too. I've learned so much and I hope you'll be around for a long time helping us learn along the way.
Where
Thanks Phil for all you do. I feel like I don't read all the newsprint because when I check in with you I know I get the "real" scoop. Your service is number Uno in my book for all the knowledge and teaching. I ignored the aapl spin and am now enjoying some rewards. Every AM I get my Phil fix and throughout the day any important links. Mucho gracias. It leaves me time for my volunteer work besides the investing.
Pirateinvestor
I have been trading for quite a few years and in good years made about 25%. After joining PSW, I followed closely the PSW strategy and my trading profit for this year is close to 70% to date. For fun, I like to mix in a few "Hail Mary" plays that really worked out well, but overall the simpler Buy/Write strategy, as presented by Phil so often, created the majority of the profit.
Gel1
Phil/CLK4 – Perfect! Saw the answer 1 min after my post…out with $740 on two contracts. Thanks again for the education.
Jeffdoc2004
Phil...The hundred grand portfolio updates are helpful...Fun ..and have been profitable...really like em... made some nice entries into USB, KEY today... and I better add those FAZ calls tomorrow... Really glad you put that up this morning...
Becker
What a quarter! (AAPL, etc.) "People react; PSW'ers anticipate." Thanks everyone for a vibrant board.
Silentstorm
Cory Booker for President. :) . Thanks for all the good futures guidance Phil! Having one of my best months yet. Account is up 75% YTD!
Traderd
WISH TO EXTEND A BIG THANK YOU! I netted about $18,000 on the short Jan puts and the annualized ROI/M is mind boggling! Hope to meet you some day and buy you and your significant other a nice dinner.
Best Regards
Newt
Newthugger
Way back did 20 of your suggested short BP Jan 11 26 P @ 4.3 now .85 — sold half. this am —
paid for a years sub AGain!! thank you very much!
Ban2
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
Phil-
I would like to echo the sentiments of dclark41. Joining this site was the best thing I have ever done to aid my growth as a trader/investor. There are so many smart and experienced people here sharing their ideas that regardless what your investing style is you will learn something daily. Thank you and all the regular contributors for your generosity.
Acd54
Phil: Once again thanks for those inciteful comments, and the old links to Sage's portfolio management (I hadn't read before). I'm an experienced stock trader, but over the last 3 or 4 months have come to appreciate options trading here at PSW, and the consistency of your many premium-selling strategies. It is liberating to have to worry less about getting direction right and being able to generate 5% MONTHLY returns with close to delta-neutral positioning. Much appreciated!
Neverworkagain
Thank you Nantucket. It is hard to be a complete beginner in the market with this complicated, fast moving, and very advanced group. Phil is the Great One, but the membership is absolutely amazing! Had I known this ahead I would probably log in as "awe struck" everyday.
Coke
Phil you are great, and not only is your market info spot on but you have the courage to call it like it is and write about it in a great tone.
Flanger
The best play I made this year was PSW. Will renew my membership tonight. Looking for the same trading profit percentages next year, but will have an advantage from the compounding, and much better skills acquired from you and the many skilled PSW co-pilots. Thanks!
Gel1
Phil — gotta thank you for your advice this week, and especially today. I took many aspects of your advice this morning, with all of my shorts -- being prepared on the short side, selling into intial excitement, taking the money and running, not being greedy. I also made money on the your /QM and /YM calls. It used to be I would be terrified of weeks like this one. Now, it feels somewhat comfortable, for want of a better word.
Escohen5
Phil, I 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
Phil – In the event of a mkt meltdown, which of the indices, in your opinion do you think has the most potential for % move down. I'm looking at call options on SDS and the DXD. Any thoughts? Ideas?
Thanks .. and thanks for being a great teacher! I've learned so much in only a month!
Louis631
Phil is a fundamentalist to his fingertips. His ability to value a stock goes well beyond p/e, as he understands the essence of many businesses, what gives them value and how they make their money. As such, his recommendations are invaluable to a investor who takes a value-oriented approach.
Zeroxzero
Phil - DIA 107 Calls. As suggested I am taking the money and running to home depot for some shelter supplies! This is the grand finale of several successful trades from you through this roller-coster and as you have further suggested it is time for me to sit back and relax in cash. May even be able to talk my wife into the premium membership after these intelligent trades in a stupid market.
The cost of living in the U.S. rose at a slower pace in June and home sales climbed to an eight-month high, showing the economy is generating little price pressure as growth accelerates.
But growth is NOT accelerating, is it? We JUST had a GDP report that showed exactly the opposite, yet here we have a noted MSM publication simply ignoring that FACT:
How do people read these things and just accept them? How do authors write them? How do editors OK them? Not even the commenters seem to catch it – it's like the whole World just accepts the BS of the moment.
This is what Orwell predicted it would be like in a future where the media became electronic and the past was instantly forgotten by a population that was unable to think for itself.
It took them 30 more years than planned, but here we are!
"And if all others accepted the lie which the Party imposed -if all records told the same tale — then the lie passed into history and became truth. 'Who controls the past,' ran the Party slogan, 'controls the future: who controls the present controls the past.' And yet the past, though of its nature alterable, never had been altered. Whatever was true now was true from everlasting to everlasting. It was quite simple. All that was needed was an unending series of victories over your own memory. 'Reality control', they called it: in Newspeak, 'doublethink'.
"The past, he reflected, had not merely been altered, it had been actually destroyed. For how could you establish even
We haven't gone anywhere on the Dow, S&P or NYSE since early March and we've lost 6% on the Nasdaq and 8.3% on the Russell yet, to hear the mainstream media tell it – there's no better time to invest.
Nazi propagandist Joseph Goebbels said: "If you tell a lie big enough and keep repeating it, people will eventually come to believe it." Clearly that's the template being used today by the MSM and even our politicians these days.
As you can see from Dave Fry's SPY chart, we got a very exciting pop into the close on Friday for no particular reason and now, for no particular reason the Futures have given back most of those gains. But don't worry, into the open, while the volume is still low, it's sure to get jammed back up again – just in time for the Funds to dump their shares on the retail crowd.
We don't care IF the game is rigged, as long as we can figure out HOW the game is rigged and play along. This morning I posted to our Members that Silver Futures (/SI ) were a long at $19.50 and that Gasoline Futures (/RB) were a short at $3. Already silver hit $19.65 for a $750 per contract gain and gasoline fell to $2.985 for a $630 per contract gain – and the Egg McMuffins are paid for!
We KNOW it's rigged and we KNOW the moves were fake so, when they hit good resistance points, we knew it was very unlikely they'd get past them. If they did get over the resistance, we'd take small, quick losses and be done with the trade. Of course we went over the news and the data from around the World to…
The same can be said about a dog with three legs and no tail, I suppose. So, the question is, is the market a dog in a nice sweater or whatever the metaphor would be for something where 3 healthy guys drag two dead guys around and win the race.
Hmmm, I guess there is no metaphor for that – BECAUSE IT'S RIDICULOUS, isn't it? A healthy market looks like a healthy market and this does NOT look like a healthy market.
You can ignore Russia invading Ukraine, you can ignore China's exploding debt bubble, you can ignore collapsing German Investor Confidence, you can ignore Japanese Inflation, you can ignore all the stuff we already talked about in this morning's news alert – but that's not going to make it go away!
Yes, we made new highs yesterday but look at the crap volume. The volume on the Friday after Thanksgiving (half a day) was 55M on SPY, the volume on Dec 26th was 63M and New Year's Eve was 86M – that's how ridiculous yesterday's volume was.
We're still in the pattern of the market rising on low volumes and selling off on high volume, which is simply the way the Banksters pump up their holdings into the opens and then dump them on what few retail suckers are participating into the closes.
You can hear their media puppets ramping up the rhetoric at the same time, wagging their fingers at the retail investors and telling them they are "missing" the rally. Why weren't they saying that when the markets were 50% cheaper? Why not when they were 25% cheaper? No, only at a market top does the Corporate Media tell you to BUYBUYBUY because their masters already bought their fill and now they need someone to hold the bag. Same as it ever was.
Check out the front page of Mr. Murdoch's Wall Street Journal, nothing about Russia and they spin the Administration's attempt to boost Housing as a positive when it's actually a reaction…
It's very sad when you can get your best financial advice from cartoon characters.
I apologize for the language but this video pretty much says it all. As the man in green says: "Buy the f'ing dip, you f'ing idiot." That's the entirety of the market strategy we are being trained like Pavlov's dogs to follow. Also as the man says "Now, don't forget this only works if you go out and tell all your friends and family to do the same. That way, when they are buying more expensively than you, you can sell back to them and collect your money."
Of course it's a Ponzi scheme but it's a gigantic, legal one and the best thing about it is that the Government FORCES everyone to play so you never run out of suckers. When there is a lack of actual new sucker/investors to put money in, the Government steps in with stimulus or buys equities (QE1) or buy Treasuries from the banks so they can have free capital to buy equities with (QE2). They debase the currency and drive inflation higher while talking it up even more so and virtually penalizing people for saving money and not shopping. In this way, the US Government places a tax on every single citizen through a systemic devaluation of their lifetime accumulation of wealth as well as unfavorable savings and inflation conditions that are aimed to force money into equities and commodities.
What is the logic to this? Well, none if you are a government that actually cares about the long-term benefit of 310M people but we haven't had a government that was "for the people" since they put two in the back of Kennedy's neck so why complain about it now? What we should be doing is celebrating the sheer stupidity of the situation and enjoying the ride as this stock market roller coaster clacks up the tracks – towards a drop that is certain to have investors screaming all the way down but, for now, let's listen to what the Bernanke Bears have to say in their latest cartoon about the Bank America crisis with WikiLeaks as well as their advice on NFLX and CRM:
Now, what could be more simple than that? Just take all…
If next Friday the Buck is lower across the board and the BoJ is a bit bloodied Ben Bernanke will light a cigar.
Okay, so our boy Ben is smoking a big fat cigar tonight. He could not be happier. Everything is going his way.
-On the week the dollar got crushed against the majors.
-The Japanese central bank did get its nose bloodied. As of the close in NY they are down about $700mm on the 9/15 intervention of $25b. It’s not just the money (actually it is the money). They lost a battle. The USD/JPY has to go lower. The BOJ has tipped their hand. They are playing defense. And that is losing strategy. Their internal effort at QE just got trumped by Ben’s weak dollar policy. They must be pissed.
-Euro group chairman Junker (ZH article) said the weak dollar will hurt EU growth. Sure it will. That is what Ben wants. He wants to export our deflation to our “friends”. They also must be pissed that Ben is dishing this out to them.
-The gold moves were impressive. If I were at the Fed and watching this near daily slap in the face I would be unsettled. I wonder if they even care. At one time they did, but not in the last few years. Ben is probably pleased with the ratchet up in gold. He not only wants to boost inflation he wants to increase expectations on inflation. High marks on that score for the week.
-Stocks keep going up. Why shouldn’t they? A weak dollar makes top line numbers of a big chunk of the S&P look better. Also, you have to look at what money is competing with. The five-year closed at 1.1%. After-tax that comes to 0.7%. Against a very low rate of inflation the tax adjusted yield guarantees the investor a negative 8% return. Not hard to beat, one would think. So stock multiples have to widen. Right? If so, can we do this forever? If not, how long can we continue?
-The commodity numbers are blowouts. Sugar, wheat, corn, copper, every
Resentment, frustration and anger are now ubiquitous features of U.S. culture. This is the consequence of several factors, none of them positive.
"Horn broken, watch for finger." This bumper sticker perfectly captures the zeitgeist of the nation: the horn is broken, and everyone is giving everyone else the finger.
Why are simmering resentment, frustration and anger now ubiquitous features of U.S. culture? I would posit the following factors:
1. A culture of entitlement: the U.S. is now a culture of takers obsessed with getting their "fair share" of the swag/borrowed money. "We were promised!" (public employees); "I earned it!" (Social Security recipient, though only the first 3-4 years of benefits are drawn from his/her contributions, and everything after that is welfare drawn from the hides of current workers); "healthcare/income security/housing is a right!" (everybody’s got rights, but nobody seems to have any duties or obligations); "it’s for the children/elderly!" (that is, my expense account, million-dollar pension, etc. are nominally protected by the banner of "education" and/or "healthcare"), and so on.
Those with access to "private welfare" such as CEOs are a privileged class; most of us have to elbow our way to the crowded public trough. The truly select feed at the Wall Street trough, which combines private welfare skimmed from shareholders and investors, and Central State welfare issued in unlimited billions via bailouts, Fed purchases of toxic debt, backstops, loan guarantees, etc.
But like the story about the attractive young lady who blushingly agrees to share her favors for $10,000, but balks when the suitor downgrades his offer to a paltry $100 (with the punchline being, "We’ve already established what you’re willing to sell, now we’re just haggling over the price"), the recipient has sacrificed autonomy in accepting the entitlement, regardless of the source or size. This is how complicity to a host of embezzlements, corruptions and exploitations is purchased.
2. A culture of victimhood: Victimhood is rewarded, shouldering ones’ own load and thrift are punished. Like rats in a maze, Americans respond to incentives and disincentives: as a result, everyone is shouting out their claim to victimhood. The cacaphony is reminiscent of a classroom of spoiled children all claiming excuses for their odious behavior and poor performance.
3. Unrealistic expectations: nobody wants to do demanding physical labor, so skilled-craft jobs go begging and companies have to train workers.…
The losses from the mortgage securities frauds and the subsequent bubble collapse continue to debilitate the US financial system, particularly the regional banks, in a slow bleed costing the US government additional millions each week. The public relations campaign promoting the idea that the bank bailouts are done and successful, and that the US made money on this egregious abuse of public monies is patently false, and probably can be described as corporatist propaganda.
The banks continue to mount a campaign to resist reform and regulation. They are taking advantage of the weakness of the Obama administration in failing to reform the banking system through liquidations and managed bankruptcies, including indictments and investigations as was seen in the Savings and Loan scandal.
It is difficult to continue to assume good intentions in this administration, or even mere incompetence. The objections put up by Geithner and Summers to the appointment of Elizabeth Warren as the head of the new consumer protection agency shows how reactionary they continue to be, and resistant to fundamental reforms.
Five bank closures in four states Friday cost the federal government an additional $334 million in losses.
Regulators shuttered the $373 million-asset Coastal Community Bank in Panama City Beach, Fla., the $66 million-asset Bayside Savings Bank in Port Saint Joe, Fla., the $168 million-asset NorthWest Bank and Trust in Acworth, Ga., the $529 million-asset The Cowlitz Bank in Longview, Wash., and the $768-asset LibertyBank in Eugene, Ore. The failures brought the year’s total to 108.
The hammered Southeast bore the brunt of the failure activity, as it has for so many Fridays since the financial crisis began. Twenty banks have been seized in Florida in 2010, while 11 have failed in Georgia so far this year.
The two Florida institutions that failed Friday went to one buyer: Centennial Bank in Conway, Ark. The acquirer agreed to take over Coastal Community’s $363 million in deposits, Bayside Savings’ $52 million in deposits and roughly all of the assets of both institutions.
The Federal Deposit Insurance Corp. agreed to share losses with Centennial on $303 million of Coastal Community’s assets, and $48
Seriously, it beats me how people managed to develop such an appetite for sloppy sentimentality. With each successive hit feature, Pixar tests the limit of that appetite, and finds that there is no limit. Audiences drink up vats of Pixar’s patented corn syrup in animated film form, smack their sticky lips, and beg for more. Please, Pixar, could you make the characters even rounder and smoother and cuter, like a vast array of babies’ butts? Could everyone find out that everyone loves everyone else, and then all rescue each other ten or twelve times, with lots and lots of preaching along the way? Our tears, could they be jerked harder, to the point of actual pain and bruising this time?
Sure, says Pixar, and the ticket-money washes in like the tide.
Since this deplorable trend has been manifest for some time—our enabling of Pixar’s worst tendencies, I mean—it’s no surprise when they follow twee Wall-E with the grossly lugubrious Up and then top it all off with a sickening wallow like Toy Story 3. So why would I subject myself to this torture? Two reasons: 1) Michael Keaton as the voice of Ken Doll. I always liked Keaton and remain fascinated by the way he’s sabotaged his own career and squandered his great comic gifts. Keaton as Ken Doll looked funny in the previews, which gave me the faint hope that Pixar might stress the comedy over the sniveling in Toy Story 3. Curses, foiled again.
[...]
The professional critics, of course, can’t gush enough about Toy Story 3, which has a supernaturally high rating of 98% on the Rotten Tomatoes site, a score that should be reserved for the second coming of Jesus Christ artfully caught on film by the world’s best cinematographer. These godforsaken critics especially loved the last fifteen minutes, which I’m now going to describe…
[...]
What’s so distressing about all this, as I keep pointing out, is the tremendous talent of the Pixar team getting wasted on nostalgic goop, forever presenting idealized 1950s suburban culture as the norm. Superficial contemporary trappings like iPods and day-care centers and the occasional non-white minor character shouldn’t…
This situation is an analogue to the US economy, where increasingly larger portions of the financial markets in the US are being ceded to white collar fraud and manipulation by the gangs of New York. The problem is not with law enforcement per se, but that the basic functions of government are being overwhelmed by inept and corrupt lawmakers and regulators, the powerful rule of special interests, and a general lack of concern and disdain for the needs of the ordinary citizens. These are the root cause of the failures of government in the US.
This is not a problem of Republicans versus the Democrats. It is the age old problem of the avarice of an oligarchy of the self-proclaimed elites against the rights of the private individual, and the common people.
"From whence shall we expect the approach of danger? Shall some trans-Atlantic military giant step the earth and crush us at a blow? Never. All the armies of Europe and Asia…could not by force take a drink from the Ohio River or make a track on the Blue Ridge in the trial of a thousand years. No, if destruction be our lot we must ourselves be its author and finisher. As a nation of free men we will live forever or die by suicide."
Abraham Lincoln
"In a press conference ignored by the American national media, the sheriff described how his deputies were outmanned and outgunned by the cartel smugglers who increasingly operate using military tactics and weapons. The result, said Sheriff Babeu, was that a wide corridor of Arizona from the border North to the outskirts of Phoenix is effectively controlled by the cartels. "We do not have control of this area," the sheriff said.
At the same time as the sheriff’s ignored press conference, the national media did cover assurances from the Obama Administration that crime was down at the border; that the border had never been safer. This ludicrous propaganda was based on selected crime stats from San Diego, Phoenix, Austin and San Antonio. The new reign of terror on the border in Arizona was airbrushed out of the picture.
Here’s the real picture Obama does not want you to see. Warning signs were posted this past month by the federal government 80 miles…
The United States is ceding parts of Arizona to the Mexican drug cartels. So says Pinal County (Ariz.) Sheriff Paul Babeu.
In a press conference ignored by the American national media, the sheriff described how his deputies were outmanned and outgunned by the cartel smugglers who increasingly operate using military tactics and weapons. The result, said Sheriff Babeu, was that a wide corridor of Arizona from the border North to the outskirts of Phoenix is effectively controlled by the cartels. "We do not have control of this area," the sheriff said.
At the same time as the sheriff’s ignored press conference, the national media did cover assurances from the Obama Administration that crime was down at the border; that the border had never been safer. This ludicrous propaganda was based on selected crime stats from San Diego, Phoenix, Austin and San Antonio. The new reign of terror on the border in Arizona was airbrushed out of the picture.
Here’s the real picture Obama does not want you to see. Warning signs were posted this past month by the federal government 80 miles North of the border on the South side of I-8 between Casa Grande and Gila Bend urging U.S. citizens not to camp or hike in the "Active Drug and Human Smuggling Area" because "Visitors May Encounter Armed Criminals." Here is a picture of one of those signs:
Think about it. A part of America is off limits to U.S. citizens because it is now controlled by an army of foreigners.
U.S. Fish and Wildlife staffers report that the 3,500 acre Buenos Aires National Wildlife Refuge in this area is closed to U.S. citizens as well and is
In fact, it won’t be long before this stock is mentioned in the same breath as hall-of-famers like Netflix (NFLX), Facebook (FB), and Google (GOOG). That’s right. The next great tech stock is growing up before our eyes.
I don’t say that lightly. Within a few years, this compan...
Watching scientists, politicians and journalists struggle to compare national death rates from the coronavirus pandemic, I had an acute case of déjà vu. Though the virus may be novel, the confusion generated by inconsistent data standards is anything but. It’s something I&...
Watching scientists, politicians and journalists struggle to compare national death rates from the coronavirus pandemic, I had an acute case of déjà vu. Though the virus may be novel, the confusion generated by inconsistent data standards is anything but. It’s something I&...
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 question is always what will the future price action look like ?
This post will highlight the use of lines generated by angles. Not trend lines, as trend lines require two known points on a chart, where as angles require only one known point and a angle degree to draw a line. The question then becomes how is the angle degree determined.
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...
How do people read these things and just accept them? How do authors write them? How do editors OK them? Not even the commenters seem to catch it – it's like the whole World just accepts the BS of the moment.
These are not good chart patterns:
As you can see from Dave Fry's SPY chart, we got a very exciting pop into the close on Friday for no particular reason and now, for no particular reason the Futures have given back most of those gains. But don't worry, into the open, while the volume is still low, it's sure to get jammed back up again – just in time for the Funds to dump their shares on the retail crowd.
Three out of five indexes look very good!
Yes, we made new highs yesterday but look at the crap volume. The volume on the Friday after Thanksgiving (half a day) was 55M on SPY, the volume on Dec 26th was 63M and New Year's Eve was 86M – that's how ridiculous yesterday's volume was.
![[image]](http://si.wsj.net/public/resources/images/BN-CU011_PageOn_E_20140514002520.jpg)
Check out the front page of Mr. Murdoch's Wall Street Journal, nothing about Russia and they spin the Administration's attempt to boost Housing as a positive when it's actually a reaction…
It's very sad when you can get your best financial advice from cartoon characters.
Last Sunday night I wrote about the coming week:
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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.