Posts Tagged ‘Real Estate’

China’s Top 10 Business Stories in 2011

Courtesy of Patrick Chovanec

As the year comes to a close, and we look forward to 2012, I continue the tradition I started last year and offer a brief look at the top stories that shaped China’s business and economic climate in 2011:

1. High-Speed Rail.  It was the best of times, it was the worst of times — China’s ambitious high-speed rail program embodied the highest highs and the lowest lows the country experienced this year.  In January, President Obama cited the planned 20,000km network in his annual State of the Union address as a prime example of how America need to catch up to the Chinese.  As if to prove his point, June saw the grand opening of the much-heralded Beijing-Shanghai line, timed to coincide with the Communist Party’s 90th anniversary celebrations.   But even before then, there were signs of trouble on the horizon, starting in February when the powerful head of China’s railway ministry — the project’s godfather — was abruptly fired as part of a massive corruption scandal.  Then a crash on a line near Wenzhou, in which at least 35 people were killed, unleashed a wave of fury on the Chinese internet, forcing the government to re-think the entire project amid charges of cover-up and sloppy construction.  By November, with high-speed trains running at chronically low capacity and construction debts piling up, the railway ministry was asking Beijing for a rumored RMB 800 billion (US$ 126 billion) bailout just to pay the money it owed suppliers.

2.  Inflation.  Few issues preoccupied the average Chinese citizen — or Chinese policymakers — this year as much as rapidly rising prices.   The consumer inflation rate, which began the year just shy of 5%,rose to 6.5% by July.  The increase was led by food prices, particularly pork – a staple part of the Chinese diet — which skyrocketed by more than 50%.  Keenly aware of the potential for popular unrest, Beijing made containing prices its top economic priority — even if that meant reining in growth.  Throughout the year, the central bank repeatedly raised interest rates and bank reserve requirements, in an effort to bring the pace of credit expansion back under control.  The powerful state planning bureau leaned heavily on Chinese companies not to raise prices, and even hit consumer goods giant Unilever with a stiff antitrust fine for publicly discussing possible price hikes.  While CPI did decline to 4.2% by…
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Hooray, ECB Saves Eurozone 2nd Time; Allied Irish Bonds Bid at 45% of Face Value, Anglo Irish SubDebt has 99.99% Default Odds;Irish Citizens “Namatized”

Hooray, ECB Saves Eurozone 2nd Time; Allied Irish Bonds Bid at 45% of Face Value, Anglo Irish SubDebt has 99.99% Default Odds;Irish Citizens "Namatized"

Courtesy of Mish 

Market participants are giddy today on the great news that Ireland will go deeper in debt in a foolish attempt to bail out the German and UK bondholders who were in turn foolish enough to lend ridiculous amounts of money to Irish banks in various real estate schemes.

The Irish government was of course foolish enough to guarantee all of this foolishness which means that Irish citizens many of whom were sucked into buying property at foolish prices are now on the hook to bail out the bondholders, rubbing salt into the wounds of Irish taxpayers, not all of whom were foolish enough to freely participate in the general foolishness.

Got that?

Here is a short video from the Wall Street Journal that explains why the bailout will not work.

Ireland Nears Bailout

Now let’s consider details of this foolishness in greater detail, starting with Crude Oil Rises From Four-Week Low as Ireland Nears Bailout

Crude oil increased from a four-week low as Ireland moved closer to a European Union-led financial bailout, strengthening the euro and boosting commodities.

Irish Central Bank Governor Patrick Honohan said in an interview with state broadcaster RTE today he expects the country to ask the EU and the International Monetary Fund for “tens of billions” of euros to rescue its banks.

Desirable Outcome

“If these talks were to result in a substantial contingency capital funding” pool that didn’t need to be drawn down, that “would be a very desirable outcome,” Finance Minister Brian Lenihan said in the Irish parliament in Dublin today. He said no agreement has yet been reached.

Fairy Tale Nonsense 

Check out that fairy tale silliness from Finance Minister Brian Lenihan, then answer this question: What are the odds that a "substantial contingency capital funding” would not be drawn down?

If you answered zero percent you are a winner, which makes the Irish taxpayer a loser.

Allied Irish Bonds Have Face Value Bid of 45 Percent

Bloomberg reports Allied Irish Bonds Fall on Concern IMF ‘Bad Guy’ to Impose Loss.

Allied Irish Banks Plc’s 12.5 percent subordinated bonds due 2019 were quoted at a bid price of about 45 percent of face value, according to Jefferies International in London, down


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What Could Trip Gold Up?

What Could Trip Gold Up?

By David Galland, Managing Editor, The Casey Report

Can you visualize a possible scenario that could put a sudden end to the secular rise now underway in gold and silver?

In a recent conference call with the research team of The Casey Report, we once again collectively tried to imagine what situation… what scheme… what government manipulation… might finally put a stake through the heart of gold.

Setting the stage, I think it’s safe to assume that in order for the gold bull to decisively reverse direction, the following general conditions would have to be precedent in the economy:

  1. The financial crisis will have to have ended. Which is to say that…

  1. Unemployment would have to begin falling by significant numbers – with 300,000 jobs or more being added month after month, instead of being lost. 

  1. The housing markets will be stabilizing. Foreclosure rates would have to fall to more normal levels (and not because banks are forced


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Professors Black and Wray Confirm that Bear Pledged the Same Mortgage to Multiple Buyers

Professors Black and Wray Confirm that Bear Pledged the Same Mortgage to Multiple Buyers

Courtesy of Washington’s Blog 

I have repeatedly pointed out that mortgages were pledged to multiple buyers at the same time. See this and this.

Today, in another must-read piece, economics professors William Black and L. Randall Wray confirm:

Several banks would go after the same homeowner, each claiming to hold the same mortgage (Bear sold the same mortgage over and over).

As USA Today pointed out in 2008, Bear was one of the big players in this area:

Bear Stearns was one of the biggest underwriters of complex investments linked to mortgages. Two of its hedge funds, heavily invested in subprime mortgages, folded in July.

***

Bear Stearns was linked to many other financial institutions, through the mortgage-backed securities it sponsored as well as through complex financial agreements called derivatives.

The Fed wasn’t so much concerned that 85-year-old Bear Stearns would go bankrupt, but rather that it would take other companies down with it, causing a financial meltdown.

Alot of toxic mortgages and mortgage related assets ended up on the taxpayer’s tab directly or indirectly. 

For example, as Bloomberg noted in April 2009:

Maiden Lane I is a $25.7 billion portfolio of Bear Stearns securities related to commercial and residential mortgages. JPMorgan refused to buy them when it acquired Bear Stearns to avert the firm’s bankruptcy.

The Fed’s losses included writing down the value of commercial-mortgage holdings by 28 percent to $5.6 billion and residential loans by 38 percent to $937 million as of Dec. 31, the central bank said. Properties in California and Florida accounted for 45 percent of outstanding principal of the residential mortgages.


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Sometimes It’s Just a Black Duck

So if it looks like a duck, quacks like a duck, and walks like a duck, there’s a good chance it’s not a black swan no matter how much you’d like it to be one. – Ilene 

Sometimes It’s Just a Black Duck

Courtesy of Joshua M. Brown, The Reformed Broker

Death Crosses, the Hindenburg Omen, the Black Swan of all Black Swans, the AIDS Doji, the Devil’s Ladder, the Europocalypse, the plagues of pestilence and locusts, the Tony Robbins Alert, the Hitler Harami formation, etc.

Here a Swan, there a Swan, everywhere a Black Swan.

Except 18 months since the bottom of the market and 13 months since the NBER-recognized economic trough, none of these "Prophecies have been fulfilled".  Sleeping Beauty hasn’t pricked her finger on the spindle and that cabin in Upstate New York I stocked with guns and SpaghettiO’s lies empty still.

The trouble with the Recency Effect is that everyone all of a sudden thought they were Nassim Taleb, orinthological experts on the spotting of Black Swans.  Every blip on the screen or blurb in the newspaper was fresh evidence of the next hundred years’ storm.  Forget being fooled by randomness, people have become obsessed with randomness.

But as we’ve learned, not every aberration is a Black Swan in the making.  Sometimes, it’s just an ordinary Black Duck.  A negative event or possibility that is processed and dealt with, that doesn’t necessarily lead to contagion, panic and meltdown.

This is not to say that warning signs of future crises should be dismissed out of hand.  In fact, my argument is the opposite; the more we learn not to get hysterical over every Black Duck, the better the chances are that when the real things comes along, we will be cogent enough in our reaction to them.

Iranian nukes and the Straight of Hormuz, Al-Quaeda’s next terrorism attempts, the Pension Fund Time Bomb, the Chinese Real Estate Bubble, the Treasury Bond Bubble, the disappearance of non-program trading volume in the stock market, hyper-inflation, hyper-deflation, the commercial real estate shoe-to-drop, the Municipal Bond Minefield, etc.  All ugly problems, but all Black Swans?

Or just Black Ducks that will be unpleasant to deal with but dealt with regardless? 

 


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China: Proudly Demolishing Buildings Before Completed In Pursuit Of The Great Housing Bubble Perpetual Engine

China: Proudly Demolishing Buildings Before Completed In Pursuit Of The Glorious Housing Bubble Perpetual Engine

Courtesy of Tyler Durden

Ever wonder how China can endlessly generate goal-seeked GDP of precisely 8.00001% year after year? Or how it can constantly find use for the massive and ever-larger surplus of warehoused commodities? Simple – never stop building. Which, apparently means blowing up empty building before they are even finished and rebuilding them. Rinse. Repeat. After all gotta keep all those construction workers from rioting, and all those USD reserves redirected into Brazilian and OZ commodities, now that China is not really buying US debt anymore. China Hush has some stunning pictures confirming that in its search of the great home bubble perpetual engine, the politbureau comrades may have stumbled onto the bricks and mortar equivalent of Shangri La.

More from China Hush on the "unnatural" death of Chinese buildings.

As one of the most architectural productive country, China aggregates 2 billion m2 of new building area every year, consuming about 40% of the world’s concrete and steel. However, on the flip side of the new building fever, there lie the rubbles and remains of other “older” buildings: people tear down four-star hotels to build five-star ones and bulldoze newly developed construction sites before they are even finished. Lots of young strong buildings are down, fulfilling their unnatural destiny in the roaring noise of blasting. (Source from ifeng.com and people.com.cn

1. Vienna Wood Community in Hefei City died before born on Dec. 10th, 2005. The community covered about 20,000 m2 construction area with the main structure raised to 58.5 m high. The tens of millions yuan worth building was blasted as a whole when its 16th floor was still under progress. According to local government, the community punctuated the central divide of Hefei City, blocking the scenery between Huangshan Road and Dashushan Mountain. They couldn’t straighten Huangshan Road unless the community was out of the way.

2. The Bund Community in Wuhan, 4 years old, blasted on March 30th, 2002. “I give you the Yangtze River” the slogan of the community captured many people’s hearts, so did its view over the magnificent Yangtze River and Wuhan’s historic spot Yellow Crane Tower. It took only 4 years to build the community that was documented and verified by relative…
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The Chances of a Double Dip

The Chances of a Double Dip 

Courtesy of John Mauldin at Thoughts From The Frontline 

I am on a plane (yet again) from Zurich to Mallorca, where I will meet with my European and South American partners, have some fun, and relax before heading to Denmark and London. With the mad rush to finish my book (more on that later) and a hectic schedule this week, I have not had time to write a letter. But never fear, I leave you in the best of hands. Dr. Gary Shilling graciously agreed to condense his September letter, where he looks at the risk of another recession in the US.

I look forward at the beginning of each month to getting Gary’s latest letter. I often print it out and walk away from my desk to spend some quality time reading his thoughts. He is one of my "must-read" analysts. I always learn something quite useful and insightful. I am grateful that he has let me share this with you.

If you are interested in getting his letter, his website is down being redesigned, but you can write for more information at insight@agaryshilling.com. If you want to subscribe (for $275), you can call 888-346-7444. Tell them that you read about it in Thoughts from the Frontline, and you will get an extra one month on your subscription. And now, let turn to Gary.

The Chances of a Double Dip

By Gary Shilling

Investor attitudes have reversed abruptly in recent months. As late as last March, most translated the year-long robust rise in stocks, foreign currencies, commodities and the weakness in Treasury bonds that had commenced a year earlier into robust economic growth – the "V" recovery.

As a result, investors early this year believed that rapid job creation and the restoration of consumer confidence would spur retail spending. They also saw the housing sector’s evidence of stabilization giving way to revival, and strong export growth also propelling the economy. Capital spending, led by high tech, was another area of strength, many believed.

Not So Fast

But a funny, or not so funny, thing happened on the way to super-charged, capacity-straining growth. In April, investors began to realize that the eurozone financial crisis, which had been heralded at the beginning of the year by the decline in the euro, was a serious threat to…
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Fed Z1: From Bad To Getting Worse

Fed Z1: From Bad To Getting Worse

Courtesy of Karl Denninger at The Market Ticker  

The new Z1 is out….

There’s a lot of mind-numbing figures and facts in here, but a few things stick out like a sore thumb. 

Let’s first start with the graphs, which I have updated.

 

Hmmm….. there’s a bit of a hook in there at the back end.  Where’s that coming from? 

 

Oh, that’s not so good.  Business credit is going up again a bit, and of course The Federal Government is pumping new credit like mad – but is no longer simply trying to compensate for de-leveraging, they’re exceeding that.

This is decidedly negative – in fact, it has the potential to lead to an economic death-spiral if the government doesn’t cut this crap out in time.

Some of the other nasties in here are truly stunning.  One of them is the ugly on Households – they lost a net $1.5 trillion in one quarter on their net wealth. 

The 900lb Gorilla in the room is found in real estate.  While we don’t have current numbers on that and won’t (the update is primarily equities) the ugly on the housing side is breathtaking.  From a peak in 2005 of $13.1 trillion in equity in residential real estate, that value has now diminished by approximately half to $6.67 trillion!

Yet outstanding household debt has in fact increased from $11.7 trillion to $13.5 trillion today.

Folks, those who claim that we have "de-levered" are lying.

Not only has the consumer not de-levered but business is actually gearing up – putting the lie to any claim that they have "record cash."  Well, yes, but they also have record debt, and instead of decreasing leverage levels they’re adding to them.

In short don’t believe the BS about "de-leveraging has occurred and we’re in good shape."  We most certainly have not de-levered, we most certainly are not in good shape, and the Federal borrowing is what, for the time being, has prevented reality from sticking it’s head under the corner of the tent.

This cannot and will not continue on an indefinite basis. 


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Inflation in China Escalates – Miracle Expansion or Bubble to Burst?

Inflation in China Escalates – Miracle Expansion or Bubble to Burst?

A view of the centre of Shanghai August 23, 2010. With one arm, China is pouring cold water on property speculators. With the other, it is tossing a life buoy to the real estate sector via increased spending on affordable housing. REUTERS/Aly Song (CHINA - Tags: BUSINESS)

Courtesy of Mish 

The New York Times reports Inflation in China Is Rising at a Fast Pace

From street markets to corporate offices, consumers and executives alike in China are trying to cope with rising prices. The National Bureau of Statistics announced on Saturday that consumer prices in China were 3.5 percent higher compared with a year earlier, the largest increase in nearly two years.

To make matters worse, inflation over the short term also seems to be accelerating. A seasonally adjusted comparison of August prices to July prices showed that inflation was running at an annualized pace closer to 4.8 percent.

Prices are rising in China for reasons that many Americans or Europeans might envy. The economy is growing, stores are full and banks are lending lots of money, according to other statistics released by the government on Saturday.

Compared with August of last year, industrial production rose 13.9 percent last month, retail sales increased 18.4 percent, bank lending climbed 18.6 percent and fixed-asset investment surged 24 percent.

All four categories rose slightly more than economists had expected, in the latest sign of the Chinese economy’s strength even as recoveries seem to be flagging elsewhere.

But salaries for recent college graduates, at $300 to $500 a month in coastal areas, have actually declined in the last few years, even before adjusting for inflation. A rapid expansion of universities over the last decade has resulted in more young men and women with undergraduate degrees than companies are ready to hire, except at lower pay.

And as in many countries, retirees are among the most vulnerable to inflation. Ms. Lam said her own mother lived on a pension of just $150 a month.

Rising wages are putting pressure on companies to increase their prices. Mr. Dong, the sales manager at the Ningbo Deye Domestic Electrical Appliance Technology Company, said the company had to raise wages by 10 percent a year, while raw material costs were also climbing.

“It is impossible to transfer our cost increases entirely to our customers, because if we do so, they will all run away,” he said. “We are currently doing a study of our assembly line work processes to see where we can achieve greater efficiency.”

But as the powerful growth in fixed-asset investment last month showed, Chinese


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Should You Buy a House Now?

Should You Buy a House Now?

By David Galland, Managing Editor, The Casey Report

Sold sign in front of a house

Recently, we have had a number of queries about real estate. And no wonder. For starters, real estate prices have come down. Plus, in an environment with next to zero interest rates, the idea of possibly picking up some income-producing property on the cheap holds a certain appeal to some. Then there’s the fact that real estate is very much a “tangible” – and so should hold up reasonably well, should the fiat currency system come undone, as we expect it will before this crisis is over.

The following, from reader and correspondent Ross, considers the issue of home buying from an interesting angle.

    My wife and I have been considering buying/building a house for a while now. After long months of searching, we have had to ask ourselves about the "value" of a home. I say this because my parents in 1972 purchased a 2, 000 sq/ft home for $20,000. That was almost exactly what my father made per year at his job at the time of purchase. Is this ratio one to consider as a prudent homebuyer not trying to live beyond his means? I make about $150,000 a year and can’t imagine purchasing a house here in Pittsburgh for that price and being happy with that purchase.

    My parents sold their home in 2001 for $180,000, which is obviously 9 times what they paid for it. We are looking at homes in the low 300s to purchase, and I can’t imagine the sales price in 30 years being 9 times that price, which would be $2.7 million! So do you see my line of thinking?

    Could hyperinflation cause the price to "appreciate" that same way over time? Is inflation what caused my parents home to return 9 times what they paid for it? The reason I wrote to you regarding this topic is that I thought maybe there was a future missive buried in this line of thinking. Maybe not, but if you have time I would love to hear your thoughts on home purchasing at this time.

In response, I have to point out the obvious, that all real estate markets are local. Simply, unless it’s a mobile home, you can’t pick your home up and move. So, for example, you could offer me a house in…
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Phil's Favorites

Opioids don't have to be addictive - the new versions will treat pain without triggering pleasure

 

Opioids don't have to be addictive – the new versions will treat pain without triggering pleasure

shutterstock.

Courtesy of Tao Che, University of North Carolina – Chapel Hill

The problem with opioids is that they kill pain – and people. In the past three years, more than 125,000 persons died from an opioid overdose – an average of 115 people per day – exceeding the number killed in car accidents and from gunshots during the same period.

America desperately needs safer an...



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Zero Hedge

Dow Ties Worst Losing Streak In 40 Years

Courtesy of Zero Hedge

This is easy...

The brief respite for Chinese stocks disappeared overnight...

And it appears to be finally leaking into American stock markets too...

The Dow closed red... again... for the 8th day in a row...

There has not been a longer Dow losing streak since 1978!!

The Dow is down over 1% YTD while Nasdaq...



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Insider Scoop

Benzinga Pro's 5 Stocks To Watch Today

Courtesy of Benzinga.

Each day, the Benzinga Pro news team highlights several stocks with Trading Idea potential. Be the first to see them by becoming a Benzinga Pro user!

Casi Pharmaceuticals Inc (NASDAQ: CASI) stock was trading higher by more than 40 percent early Thursday morning. The biopharmaceutical said it secured a strategic and long-term manufacturing agreement with China's Yiling Wanzhou for manufacturing of entecavir and cilostazo, ...



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Chart School

Small Caps Add To Gains

Courtesy of Declan.

Good news for momentum traders as the Russell 2000 continued its good run. The Russell 200 will start to get hot when it gets into the 15% profit take zone at 1,732 - a zone last seen tested in December 2016; if we are looking at February 2011 levels (the 5% historic zone) then the Russell 2000 would be tagging 1,813. Start taking profits, or sell covered calls, when we get into these levels.


The S&P reversed off resistance in early June and hasn't yet mounted a challenge to break it - today's gain off its 20-day M...

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Digital Currencies

BIS Blasts Cryptos In Special Report: "Beyond The Hype"

Courtesy of Mike Shedlock, MishTalk

The BIS blasts cryptos over scaling issues, energy, and trust. The BIS is correct. Cryptos are fatally flawed as money.

A Bank of International Settlements (BIS) report examines cryptocurrencies in depth. The study, called "Looking Beyond the Hype" investigates whether cryptocurrencies could play any role as money.

Bloomberg, Reuters, and the Bitcoin Exchange guide all have articles on the report but not one of the bothered to link to it.

After a bit of digging, I found the crypto report is part of an upcoming BIS annual report. The BIS pre-released the crypto report today (as chapter 5).

Here's a l...



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Biotech

Mind molding psychedelic drugs could treat depression, and other mental illnesses

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

Mind molding psychedelic drugs could treat depression, and other mental illnesses

By agsandrew/shutterstock.com

Courtesy of David E. Olson, University of California, Davis

It seems that psychedelics do more than simply alter perception. According to the latest research from my colleagues and me, they change the structures of neurons th...



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ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



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Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



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Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

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

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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All About Trends

Mid-Day Update

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

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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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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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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