Posts Tagged ‘volume’

Price Before Volume – Don’t Get It Twisted

Joshua argues that we don’t need volume to confirm a stock market breakout. – Ilene 

Price Before Volume – Don’t Get It Twisted

Courtesy of Joshua M Brown, The Reformed Broker 

Here’s a composite quote that could come from the market strategist of virtually any major firm, I’m certain you’ve read something like this over the last few days:

"The stock market is nearing overhead resistance, a punch through would be a positive catalyst only if volume picks up before or during the breakout."

- Any Chief Market Strategist, Any Firm USA

Wrong!

Price rules in this environment.  Volume is completely and totally irrelevant until about 5 to 7% afterthe breakout.

The breakout could come with only 60% of normal volume and be just as meaningful.  In counter-distinction to the conventional wisdom, I would argue that a low volume breakout would actually bepreferable right now.  Here’s how I arrive at this idea…

Nobody is in.  Nobody.  We’ve documented the equity fund outflows ad nauseum, they are bigger than Precious after Thanksgiving dinner.  Fine.  The question becomes, what can we agree is the more motivating condition for investor psychology right at this moment, Fear or Greed?

The answer is undoubtedly Fear.  How else to explain the endless Treasury rally and the full scale retreat from equities?  Fear is the conductor of this train right now, period, end of story.  With that in mind, I ask you to think about the one thing that American investors fear more than anything else – the fear of missing out on the big opportunity.

Nothing freaks out the average investor more than watching the train leaving the station without them.  I could put up 75 charts showing parabolic blow-off tops in various markets or I could just remind you that I’ve worked with over 1000 individual investors over the years and I know this stuff.

Fear of missing out is exactly why a stealth rally in stocks with low participation would be more meaningful and bullish than almost any other scenario.  What could possibly draw hundreds of billions out of money markets faster than a 5% S&P rally that no one was a part of?

So please, stop regurgitating the "we need real volume" pablum, it is functionally backwards.  What we need are higher prices, the lower the participation the better.  That’s the kind of milkshake…
continue reading


Tags: , , , , , ,




The Eerie Implications of Market Volume and Mutual Fund Flows

The Eerie Implications of Market Volume and Mutual Fund Flows 

Courtesy of Doug Short 

Once upon a time, market volume, in combination with price, was a useful indicator. Or make that indicators (plural), including Rate of Change, Volume Oscillator, On Balance Volume, Price and Volume Trend, Accumulation Distribution, Chaikin Oscillator, Money Flow Indicator, etc.

Even so, S&P 500 volume has been falling since early May with no sign yet of a post-summer seasonal increase. Of course, we’re still in the holiday shortened week following Labor Day. But look at the 2009 volume pattern on the chart. Where was the volume to confirm the market advance after a choppy October?

A recent WSJ article, SEC Is Looking at ‘Quote Stuffing’, mentioned in passing that high-frequency trading (HFT) accounts for about two-thirds of the market’s volume. 

I don’t know of a single comprehensive guide to what the retail investor is really up to, but the impression I get is that the equities are not high on the list of where to park money. The next two charts, covering the same timeframe, are based on data in a PDF file I downloaded from the Investment Company Institute. Since the chart above is a broad U.S. Index, the first chart below only measures fund flows for domestic equities. 

Naturally these charts are open to various interpretations. Bond Bubble Cassandras will see the last chart as a confirmation of their prophecy. Cheerleaders of ETFs and other alternatives to mutual funds may be inclined to disregard both fund-flow charts as largely irrelevant.

I used the wood "eerie" in the title to this piece primarily to convey my impression of a vague sense of disquiet about markets and the economy. Are retail investors sitting on the sidelines or scurrying to bonds because of anxiety about the market? If so, should we take this as a contrary indicator?

Here’s a more compelling question: If two-thirds or more of daily volume is a function of high-frequency trading, what are the implications for index prices over the long haul?

A year has passed since I posted some charts illustrating the incredible ratio of S&P 500 volume devoted to five financial stocks (see Gaming the Market). Today’s game is no doubt different…
continue reading


Tags: , , , ,




Charting The -1.0 Correlation Between Stock Prices And Volume

Charting The -1.000 Correlation Between Stock Prices And Volume

Courtesy of Tyler Durden

In our day and age, when implied correlation is approaching 1 with each passing day, and when nuanced relationships are ignored, as every correlation somehow immediately becomes causation only to be invalidated, chewed out and left for dead, there is one certain and virtually guaranteed statistical relationship left, that not only persists day after day but has now become its own self-fulfilling prophecy. We speak of course of the (inverse) correlation between stock prices and volume: i.e., "volume up, stocks down; volume down, stocks up." Rinse, repeat, over and over and over. Rarely has this correlation been as pronounced (although we have been discussing it for well over a year) as over the past 12 weeks. Behold.

What this means is that any distributions only occur to the downside, and that the second retail gets suckered into stocks once again, for whatever reason, the selling pressure will again materialize as the algo decides to take advantage of the "sidelined" money and be a better seller into every bid.


Tags: , , ,




Scientific Proof That High Frequency Trading Induces Adverse Changes In Market Microstructure And Dynamics, And Puts Market Fairness Under Question

Scientific Proof That High Frequency Trading Induces Adverse Changes In Market Microstructure And Dynamics, And Puts Market Fairness Under Question

Courtesy of Tyler Durden

Up until recently, any debate between proponents and opponents of High Frequency Trading would typically be represented by heated debates of high conviction on either side, with discussions rapidly deteriorating into ad hominem attacks and the producer screaming ‘cut to commercial’ to prevent fistfights. Luckily, all this is about to change. In a research paper by Reginald Smith of the Bouchet Franklin Institute in Rochester titled "Is high-frequency trading inducing changes in market microstructure and dynamics?" the author finds that he "can clearly demonstrate that HFT is having an increasingly large impact on the microstructure of equity trading dynamics. Traded value, and by extension trading volume, fluctuations are starting to show self-similarity at increasingly shorter timescales. Values which were once only present on the orders of several hours or days are now commonplace in the timescale of  seconds or minutes. It is important that the trading algorithms of HFT traders, as well as those who seek to understand, improve, or regulate HFT realize that the overall structure of trading is influenced in a measurable manner by HFT and that Gaussian noise  models of short term trading volume fluctuations likely are increasingly inapplicable."

In other words, the author finds ample evidence that during the past decade (on the NASDAQ) and especially since the 2005 revision of Reg NMS (on the NYSE), stock trading increasingly demonstrates "self similar" fractal patterns, resulting in volatility surges, recursive feedback loops, and a market structure which is increasingly becoming a product of the actual trading mechanism. In the process, as demonstrated by a Hurst Exponent gravitating increasingly further away from 0.5 (i.e., Brown Noise territory), the Markov Process nature of stock trading is put under question, and thus the whole premise of an efficient market has to be reevaluated. Simply said: HFT has been shown to affect the fairness of trading.

The paper is, needless to say, a must read for everyone who has an even passing interest in stock trading and market regulation (alas, yes, that would mean the SEC, and Congress). And while one of the key qualities of the paper is presenting the history and implications of High Frequency Trading, and its rise to market dominance primarily as a result of the revision…
continue reading


Tags: , , , , , , , , , , ,




DARK HORSE HEDGE 7/11/10

DARK HORSE HEDGE 7/11/10

Steeplechase

By Scott Brown of Sabrient, with Ilene of Phil’s Stock World 

A holiday-shortened week combined with little news provided the backdrop for a light volume positive week with the major indexes posting 5% gains.  Earnings season begins Monday July 12, starting off with Alcoa Inc. and followed by dozens of other companies.  The S&P is bumping up against several technical resistance lines.  After falling over 13% since the April highs, last week’s recovery pushed the SPX to 1077. 

On the chart below, our trend line drawn through the April highs and June rebound-highs indicates that the SPX is right at trend-line resistance.  The 50-day Moving Average also looms just above as another possible resistance area. 

[Chart by Free Stock Charts]

The 14-day RSI at 42.4 remains below a more bullish 50, and the 12-26-9 MACD at -13.6 remains shy of a bullish signal line at zero.  Factoring in the lack of volume in last week’s 5% rebound (and possible lack of conviction), the chart-evidence leads us to believe that the market isn’t ready to continue the uptrend in the short-term.  Notice all four positive days last week had volume below the 50-day Moving Average. Greater declining volume on Thursday and Friday isn’t particularly encouraging.

Analysts are projecting that second-quarter earnings of S&P 500 companies rose 42 percent, according to S&Ps Silverblatt.  Investors will again be watching the earnings and revenue figures along with guidance as concerns over a double-dip recession remain.  The Dark Horse Hedge maintains a SHORT tilt in our Long/Short approach to achieving higher Alpha (return over benchmark return) and Sharpe Ratios (return for each unit of risk taken) with a low Beta (correlation to market move and direction--i.e. we’re striving for less correlation to market movement).  

We will be watching the trend lines and technical signals this week to add new posititons.  If the market struggles and can’t penetrate the trend line, we will likely recommend adding 2 SHORTS and 1 LONG position.  In contrast, if the market reacts well to early earnings announcements and can break through the trend line, it is likely that the RSI and MACD will confirm a move through the 50-day Moving Average and provide reason to go to a BALANCED position by adding 2 LONGS.

We are continuing to hold our previously entered (July 1, 2010) short and long positions:…
continue reading


Tags: , , , , , ,




TECHNICAL PERSPECTIVE: WHERE’S THE VOLUME?

TECHNICAL PERSPECTIVE: WHERE’S THE VOLUME?

Courtesy of The Pragmatic Capitalist 

By Decision Point:

FROM A SUBSCRIBER: Hi Carl. I’ve never written but have followed you for many years (since AOL) and have learned more about reading the market from you than any other source. You have such a clear and common sense view that it is really refreshing. I love the new daily blogs and am so glad Erin is learning the ropes. I would write her directly, but don’t see her email address anywhere. I rarely disagree with what is said, but in this case I am very suspicious of a bullish interpretation of today’s (May 27) rally, mostly due to the low volume. It seems more like a bear market, short covering rally to me. Was wondering what you think of the volume issue. Thanks for any comments. 

Thanks for the compliment!

I try not to engage in discussions in order to reconcile differences of opinion about the market, because, even if I manage to convince my “opponent”, it doesn’t mean I’ll be right about the outcome. We try to be methodical in our analysis and clear in presenting our conclusions.

After several days of sloppy, downward-sliding price action, on Thursday the market finally had the first day of what could be a full rebound from very oversold conditions. Sloppy action in oversold conditions signals a very dangerous situation, one from which a crash can result, and on Thursday we breathed our first conditional sigh of relief.

While we have emphasized the danger involved “buying into weakness” with oversold markets, we have believed that the odds favor an end to the correction because we are technically in a long-term bull market, and corrections rarely morph into bear markets in those conditions.

It is true that volume was pathetic, but volume has been unimpressive throughout this bull market, and for Thursday there is also the issue of the upcoming Memorial Day weekend. People are leaving town early.

We can also see a clear descending wedge pattern, a bullish pattern which has a high reliability for resolving to the upside.

Chart

Most important is our philosophy that price is primary, breadth and volume are secondary. Not that we don’t look at breadth and volume, but they need to be subjectively interpreted based upon the bull or bear bias of the market. As a result, none of our mechanical timing…
continue reading


Tags: , , , , , , ,




Citi Accounts For 20% Of Total Market Volume

Citi Accounts For 20% Of Total Market Volume

Courtesy of Tyler at Zero Hedge 

One stock, a company which is effectively bankrupt absent the government’s support and the FASB’s suspension of Rule 157, now accounts for 20% of total market volume. At last check, Citigroup had traded 1.6 billion shares, one fifth of total market volume. Why does anyone still fool themselves that the market is indicative of the total universe of stocks. We are confident that if we add Goldman, BofA and the other financials, especially their penny stock variants, we would get something like 40% of all volume. This is the sector which as we have repeatedly reported has seen short recalls by assorted custodian entities and repo desks.And as we type, Dick Bove is on CNBC providing the instacommentary he had previously banned himself from doing before, and confirming what we have been saying all along – that Goldman Sachs is a Buy only because it is a monopoly.

h/t Joe Saluzzi


Tags: , , , , ,




Volume: The Stock Market’s “Footprints”

Volume: The Stock Market’s "Footprints"

Market volume changes can signal a trend change

Courtesy of Elliott Wave International

Giant Bottle Of Bordeaux Wine Set To Be Auctioned At Sothebys

A few years ago, a question was posed to Elliott Wave International’s president Robert Prechter: 

"Under the Wave Principle, what is the most important thing to watch other than price?"

Prechter answered via his monthly Elliott Wave Theorist: "Volume."

High trading volume is a chief characteristic of a healthy trend, bullish or bearish. The DJIA has rallied for over a year now off its March 2009 low, but volume has consistently been lacking. We’ve shared our thoughts on this fact many times with our subscribers. 

"Many market watchers said that the low volume in December was merely seasonal and not bearish. But volume in January has been no higher than it was from December 1 to December 22, and it is still lower than October’s, which was lower than September’s, and so on."

-- Bob Prechter, Elliott Wave Theorist, January 2010.

Even lately, low volume has persisted. Here’s what is notable, though: The market’s down days have generally been on higher volume than the up days. This could mean investors are gradually leaving the market. Our Monday-Wednesday-Friday Short Term Update has been monitoring volume closely:

March 31 Short Term Update: "Today was the first down close since March 24 and it occurred on increased volume."

April 5: "A contraction in the number of NYSE issues closing up versus down over the past two weeks as well as the total daily NYSE volume that was up versus down shows [that] internally, the market was ‘correcting’."

April 6: "The S&P closed up, but breadth was noticeably weaker today versus yesterday, as was the NYSE up/down volume ratio." 

On Monday, April 12, the Dow climbed over 30 points intraday before closing with a modest gain of just under 9 points and actually falling into negative territory for a time. While this did mark the first time the Dow closed above 11,000 in many moons, volume remained near the muted levels of April 9. Here’s the April 12 Short Term Update’s comment (online now):  

"NYSE volume remains anemic, with just 964 million shares traded today (4/13). April has now consisted of 7 trading sessions of which 5 occurred with NYSE volume of less than 1 billion shares traded, which is a bit ‘zany’ in that the first two weeks of


continue reading


Tags: , , , , ,




New NYSE Options Pricing Pyramid Promotes Derivative Driven Market Melt-Up

Last New NYSE Options Pricing Pyramid Promotes Derivative Driven Market Melt-Up

August Orders For Durable Goods Drop to 7-Month Low

Courtesy of Chopshop at Fibozachi

Monday, Tyler Durden of Zero Hedge noted that the ISE had instituted special rebates for specific option liquidity providers in an attempt to bolster volumes and capture market share ~ "Let The Churn in QQQQ, Citi and Bank of America Hit Infinity…."  And the NYSE didn’t miss a beat; responding in kind with an extremely aggressive option pyramid pricing scheme.

NYSE Euronext’s U.S. Options Exchanges Announce New Pricing and Fee

New York, April 5, 2010 – NYSE Euronext’s U.S. options exchanges, NYSE Arca and NYSE Amex options, announced new rate changes for each market center that became effective April 1, 2010.   NYSE Arca options is introducing higher posting credits in premium tier products, tiered customer rebates in non-premium penny pilot issues and a reduction in the LMM rights fees. NYSE Amex options is introducing a reduced electronic broker dealer rate, a reduced electronic firm rate, tiered pricing for firm proprietary manual trades and the implementation of the Professional Customer designation.

In an effort to dredge a moat around market share for Amex & Arca, the NYSE has implemented a new Penny Pilot "Premium Tier" pricing schedule for the options of 15 specific issues.  Liquidity providers transacting serious size across these anointed sticker symbols … AAPL, BAC, C, DIA, EEM, FAZ, GDX, GE, GLD, IWM, QQQQ, SPY, UNG, USO & XLF … will (yet again) enjoy additional rebates as the NYSE attempts to [1] stave off competition from other options exchanges and [2] further buoy an anemic equity market, which continues to plow forward on phantom volume at 3 am on Sunday night (like the accelerator of a Toyota Camry beneath a sleep-driving Ambien junkie approaching a raised drawbridge with both eyes closed shut, one hand on the wheel and the other on his sixth bear claw).

NYSE Arca Fee Changes

NYSE Arca Fee Changes

 

NYSE Amex Fee Changes 

NYSE Arca Premium Tier Fees

For a complete explanation of the new NYSE Arca options rates and fees:  http://www.nyse.com/futuresoptions/nysearcaoptions/1159439190411.html

For a complete explanation of the new NYSE Amex options rates and fees:  http://www.nyse.com/futuresoptions/nyseamex/1228420271739.html

An explanatory webinar with Q&A was scheduled for 4:30 –
continue reading


Tags: , , , , , ,




The Missing Volume

The Missing Volume

By Ilene

The Missing Volume
Interview with Nicolas Santiago
Who Is Responsible For The Non-Stop Market Rally Since March?
Zero Hedge reports on Evaporating Market Liquidity
The Big Picture’s Barry Ritholtz’s Disbelief in Conspiracies
 
Are retail investors and non-professional stock market traders still actively involved with investing and trading their accounts?  Phil sent me an article on the subject, “Where Has All the Volume Gone?” by Nicolas Santiago at his Rant and Rave blog, and I called Nicolas up to talk with him about it.    
 
As background, Nicolas teaches stock trading and is an expert in technical analysis. He’s been trading stocks since 1991, watches the market daily, and is an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com. Currently, he trades and teaches his stock trading methods. 
 

The Missing Volume – with Nicholas Santiago 

Nick writes in Where Has All the Volume Gone?   

Let’s say the market is in an economic recovery and the financial crisis is behind us. Normally one would expect the trading volume in the stock market to increase. This has not been the case. Volume for the month of November and December 2009 have been lighter than August of 2009. Remember August is notoriously the lightest trading month of the year. Hence the term ‘summer doldrums.’ January is usually a very high volume month, yet it has started off the New Year even lighter than the last two months of 2009.
 
Light volume markets are very difficult to short. Hence the old saying, ‘never short a dull market’. This is as dull of a market as we have seen in many years. While there are some stocks such as Apple (NYSE:AAPL), and Amazon (NASDAQ:AMZN) that have traded with respectable volume the bulk has come from government owned names. Stocks such as Citigroup (NYSE:C), American International Group (NYSE:AIG), Fannie Mae (NYSE:FNM), and Freddie Mac (NYSE:FRE), have often accounted for one third, and sometimes


continue reading


Tags: , , , , ,




 
 
 

Zero Hedge

10-Year Treasury Yield Plunges To Just 1 Basis Point Away From Recession "Tipping Point"

Courtesy of ZeroHedge View original post here.

After more than a month of shocking complacency (because what, central banks will somehow print antibodies and "fix" the covid pandemic which will restore collapsing global supply chains?) traders are "suddenly" realizing that the coronavirus outbreak contains a significant likelihood of impact to the global economy and the potential to become a black bat, pardon, black swan type event. An event which could quickly spiral into a US - and global - recession.

How to determine if a recession is coming? One place to wat...



more from Tyler

Phil's Favorites

Threats to democracy: oligarchy, feudalism, dictatorship

 

Threats to democracy: oligarchy, feudalism, dictatorship

Courtesy of David Brin, Contrary Brin Blog 

Fascinating and important to consider, since it is probably one of the reasons why the world aristocracy is pulling its all-out putsch right now… “Trillions will be inherited over the coming decades, further widening the wealth gap,” reports the Los Angeles Times. The beneficiaries aren’t all that young themselves. From 1989 to 2016, U.S. households inherited more than $8.5 trillion. Over that time, the average age of recipients rose by a decade to 51. More ...



more from Ilene

Biotech & Health

What scientists are doing to develop a vaccine for the new coronavirus

 

What scientists are doing to develop a vaccine for the new coronavirus

It is critical to learn more about SARS-CoV-2, including its source and why transmission appears to be more efficient than with previous coronaviruses. (Shutterstock)

Courtesy of Marc-Antoine De La Vega, Université Laval

With an increasing number of confirmed cases in China and 24 other countries, the COVID-19 epidemic caused by the novel coronavirus (now known as SARS-CoV-2) looks concerning to many. As of Feb. 19, the latest numbers listed 74,280 confirmed cases including 2,006 deaths. Four of these de...



more from Biotech

Members' Corner

Why do people believe con artists?

 

Why do people believe con artists?

Would you buy medicine from this man? Carol M. Highsmith/Wikimedia Commons

Courtesy of Barry M. Mitnick, University of Pittsburgh

What is real can seem pretty arbitrary. It’s easy to be fooled by misinformation disguised as news and deepfake videos showing people doing things they never did or said. Inaccurate information – even deliberately wrong informatio...



more from Our Members

The Technical Traders

Gold Rallies As Fear Take Center Stage

Courtesy of Technical Traders

Gold has rallied extensively from the lows near $1560 over the past 2 weeks.  At first, this rally didn’t catch too much attention with traders, but now the rally has reached new highs above $1613 and may attempt a move above $1750 as metals continue to reflect the fear in the global markets.

We’ve been warning our friends and followers of the real potential in precious metals for many months – actually since early 2018.  Our predictive modeling system suggests Gold will rally above $1650 very quickly, then possibly stall a bit before continuing higher to target the $1750 range.

The one thing all skilled traders must consider is the longer-term fear that is build...



more from Tech. Traders

Kimble Charting Solutions

Precious Metals Eyeing Breakout Despite US Dollar Strength

Courtesy of Chris Kimble

Gold and silver prices have been on the rise in early 2020 as investors turn to precious metals as geopolitical concerns and news of coronavirus hit the airwaves.

The rally in gold has been impressive, with prices surging past $1600 this week (note silver is nearing $18.50).

What’s been particularly impressive about the Gold rally is that it has unfolded despite strength in the US Dollar.

In today’s chart, we look at the ratio of Gold to the US Dollar Index. As you can see, this ratio has traded in a rising channel over the past 4 years.

The Gold/US Dollar ratio is currently attempting a breakout of this rising channel at (1).

This would come on further ...



more from Kimble C.S.

Insider Scoop

68 Stocks Moving In Friday's Mid-Day Session

Courtesy of Benzinga

Gainers
  • Trans World Entertainment Corporation (NASDAQ: TWMC) shares climbed 120.5% to $7.72 after the company disclosed that its subsidiary etailz entered into a deal with Encina for $25 million 3-year secured revolving credit facility.
  • Celldex Therapeutics, Inc. (NASDAQ: CLDX) fell 39.8% to $3.1744. Cantor Fitzgerald initiated coverage on Celldex Therapeutics with an Overweight rating and a $8 price target.
  • TSR, Inc. (NASDAQ: TSRI) gained 36.2% to $8.17.
  • ...


http://www.insidercow.com/ more from Insider

Digital Currencies

Altcoin season 2.0: why bitcoin has been outgunned by crypto rivals since new year

 

Altcoin season 2.0: why bitcoin has been outgunned by crypto rivals since new year

‘We have you surrounded!’ Wit Olszewski

Courtesy of Gavin Brown, Manchester Metropolitan University and Richard Whittle, Manchester Metropolitan University

When bitcoin was trading at the dizzying heights of almost US$2...



more from Bitcoin

ValueWalk

What US companies are saying about coronavirus impact

By Aman Jain. Originally published at ValueWalk.

With the coronavirus outbreak coinciding with the U.S. earnings seasons, it is only normal to expect companies to talk about this deadly virus in their earnings conference calls. In fact, many major U.S. companies not only talked about coronavirus, but also warned about its potential impact on their financial numbers.

Q4 2019 hedge fund letters, conferences and more

Coronavirus impact: many US companies unclear

According to ...



more from ValueWalk

Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Tuesday, 01 October 2019, 02:18:22 AM

Click for popup. Clear your browser cache if image is not showing.


Comment: Wall of worry, or cliff of despair!



Date Found: Tuesday, 01 October 2019, 06:54:30 AM

Click for popup. Clear your browser cache if image is not showing.


Comment: Interesting.. Hitler good for the German DAX when he was winning! They believed .. until th...



more from Chart School

Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



more from Lee

Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

more from M.T.M.

Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

...

more from Promotions





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...

Learn more About Phil >>


As Seen On:




About Ilene:

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