Wade Cook’s Taxi Cab.

You can now join Wade Cook’s Taxi Cab (here on Facebook) for FREE. Here is the posting from today. I do real trades, commentary backed by 29,000 trades and years of experience and wisdom, then add in a sprinkling of great thoughts.
Here is a sample posting taken from 2/23.
1. The economy is picking up steam. We’re in for a great few years.
2. Corporate profits are up 18% (really more) this year over last year.
3. Over 1,000,000 Americans have over $1,000,000 in their pension type accounts.
4. Generals Mills just offer $8 Billion for Blue Mountain Dog food. I think we’ll see many more Mergers, Buy-Outs—not to mention increased share buy-backs, dividends and expansion.
5.THIS IS A FAR CRY FROM THE OBAMA POLICIES—where we celebrated mediocrity. Remember? We’re going to have to get used to this new normal (1% growth).
This is a time to be bullish on America, OPTIMISM.


Democrats say no to Freedom . . .
They say no to prosperity . . .
They say no to small business,
and no to more Jobs.
Democrats say no to letting us keep more of our own money—as if it were theirs.
And the future? They say no to growth, a better way of living, and no to expansion.
And then they’ll probably want us to say yes and vote for them.
Not one Democrat voted yes for Tax Cuts. Not one.

No one is shouting for more government.
Prosperity is all around us. Profits are there for the taking.
JP Morgan Chase (JPM) just announced better profits. They are going to raise the salaries of all employees, because of the new tax cuts.
They will invest 20 Billion Dollars opening hundreds of new branches and hiring thousands of new people.

Mr Trump’s Trip

The President will soon be heading off to Davos, Switzerland. There he will mingle with the high and mighty. I wish they were the high, mighty and quiet. Stuart Varney said, “Davos is the home of globalism, climate change, open borders and income inequality. The world’s Billionaires will be talking to other Millionaires about leftist politics. Our President is going to be like a nuke right in the middle of them? This Stuart’s final admonition was, “Stick it to them, Mr. President.”

Here’s is what Keith Fitz-Gerald said later on the same Stuart Varney FBN morning Show: “Davos, this is somewhere between April Fools, Halloween and a Dystopian Universe. It’s about time these guys in Davos get upset, because the Apple Cart needs to change.”

Well, there are many things in our world that are changing, and most of it will be good changes. Long Live Freedom and the Free Enterprise System.”

Weekly Covered Calls

November: A few power-thoughts. We are in the midst of a tremendous market. There is so much optimism. Earnings are up for so many companies.
For those of us who like to use the market as a part-time business, this presents a caution and an opportunity. First off, we like using assets to make money—real spendable income. We use Writing Covered Calls, because it’s simple, powerful and most people can do it—not to mention that you don’t need a lot of money to get started.
If you want information on this strategy, go to wadecook.org and get the report, “Your Money Needs to Get a Job.”

11/8: An Update and Explanation of a process to make more money. In Writing Covered Calls, we usually sell slightly out-of-the-money calls. For example, AMD is $10.80 or so. We buy the stock and use it as an asset to generate income—like rental real estate.

We sell the $11 calls, agreeing to sell this stock for $11 and we get paid cash to do so. The money hits our account in one day. We can now do this on a weekly basis. This is a great money-maker, and you can determine all of these prices before you ever enter the deal.

But what if the stock goes up, and we’re about to get called out, or sell the stock? We decide we want to keep the stock, so we can buy back the sold option. It takes about 18 seconds. We now have no obligation to sell. We’re free and clear—and good to go.

But here’s another scenario. What if the stock moves up. It’s at $11.70. It’s way over the $11 strike price. We know we can buy back the $11 calls for this month or week, but being so far in-the-money, they are a bit expensive. These $11 calls are 90¢ to buy. Again, if we do nothing we will sell the stock.

So, we look at the $11 calls for next week. They are $1.10 x $1.15. It cost us $900 (I’m using 1,000 shares for this example). 1,000 times 90¢ = $900. And on the same phone call or trip to the computer, we sell the same strike price calls for $1.10, Taking in $1,100.

This is okay, but we want to get back to selling a slightly out-of-the-money calls. So, we look at the $12 calls, or even the $11.50s. They are not going for as much money, but if you were to sell this stock, it would be at a higher price.

The reason I’m writing all of this, is that this will be a common occurrence in this market. Stocks are up. But remember, stocks climb a wall of worry. Quite often, the option premium diminishes as stocks get higher. We have lot to think about. But it’s so much fun.



The following is a brief statement of why WCCWs work so well. We’re having so much fun exploring this new method. The 50¢ strike prices and the weekly options are about as exciting as any new development in the market as we’ve ever seen.
This list will be our topic points for Tonight’s WWW. We hope to see you there.
With weekly options available, there is a greater opportunity to write covered calls—a true passive income generator. And with 50¢ incremental strike prices, the profits come fast and furious.
1. The option premiums from week to week are relatively uniform. There is not a huge drop-off. For example, one weekly option chain had option bid (sale price) at 19¢ 22¢ 25¢ 28¢ and 32¢. Look at these numbers. Selling the option out in five weeks would generate $320 (1,000 shares). But, what if we only received one-half of the weekly sale price? That would be about $600 plus, over double the one-week options. A little more work, a lot more profits.
2. Not only do the weekly options give us more profits (that’s what our study and trades say so far), but there are 50¢ incremental strike prices. i.e. $4.50, $5, and $5.50. You don’t know how important this is until you see the new potential profits, and compare it to the old days.
3. We can calculate the profits, even weekly, before we ever decide to Write a Covered Call. The only variable is the movement of the stock. Use protective strategies.
4. We use volatility, either: A. Coming Up on News; or B. A solid rolling pattern.
5. Use charts—preferably 6 months—to ascertain movement, including support and resistance levels.
6. OI, or Open Interest is vastly important. The numbers will keep you out of trouble and in the game to make more money. In short, stocks seem to move to a price where the most options expire worthless. This is why most people lose with regular options.
7. There is time before each Friday expiration to fix any problems—buy-back, roll-outs, etc. These options seem to hang on to their premium right up to the last day, even the last hour. We are making correctable decisions, not just correct decisions.
8. We do these trades so as not to need any movement. We call it No.R.M. No Required Movement. It’s okay if the stock stays right where it is.
9. Don’t forget the 3rd Friday options in your calculations. At that time, it’s just another weekly option.
10. We don’t have to be right for very long. These are 4 and 5-day trades.
11. We can then use the profits to buy more stocks—if the profits are not needed to pay the bills—and continue to build up our income-producing asset base. More profits as we go.
© 2017 Wade B. Cook and Wealth Information Network, Inc. All Rights Reserved.


SLEAZY PEOPLE: An update on happenings around the world.
1. The news is coming fast and furious. Earnings yesterday and today (with huge announcements expected tomorrow from MSFT, AMZN and GOOGL) show how well these companies are doing. Visa, Boeing and Coca Cola (KO) are beating their expected numbers.
2. The economy rolls on. Better Profits are fueling this increase—not just the potential tax-cuts.
3. There are reports that treatment for Alzheimer’s Disease is coming. Over 5,000,000 people in the US are affected. This new medicine may delay and prevent this horrible disease.
4. Reports out that the Clinton Campaign and the DNC funded the terrible report (From Fusion GPS), called the dozier which tried to damage President Trump during his campaign. Sleazy People do Sleazy Things. They can’t help it.
5. There is so much legerdemain in politics and government.
I’ll keep reporting. Check out AMD and V, KO and BA. Later. Visit wadecook.org.


It’s always fun to come and update my friends on things going on in the world. So here goes:
1. Virtually every CEO who gets on TV says they’ll hire more people with the tax cuts.
2. One prescient CEO wants small business to get better rates—2/3 of all new jobs are from small business, defined as companies with under 50 employees.
3. We’re in earnings season. 87 of the S & P 500 have already posted their earnings. Of these, their earnings are up 9.4%.
4. 73% had higher revenues. 71.3% had earnings surprises to the positive. 70.1% beat revenue estimates. Consider carefully how you want to participate. Do you want growth or income or growth?
We’re in for some nice surprises. We play the market at hand—trying to get our money in the way of growth.

Get a FREE Report at wadecook.org


“Our purpose in life should be to build a life of purpose.” —Wade B. Cook

I have been a student of life and of people. I notice things and try to connect the dots. Life is wonderful, mysterious and sometimes bewildering. I have found answers for these times. Often, I find guideposts and often these are found in simple words and maxims.

These short, terse sayings have been of strength to me.

“Words and wisdom from the books I’ve read are much like the food I’ve eaten;
I can’t remember what it was, but it has made me who I am.” —Wade B. Cook

I have collected quotations since I was fifteen. Each day, my English teacher would write one on the blackboard. I started writing them down, memorizing them, internalizing them. They have helped me immensely.

I noticed something. Many of these sayings had their genesis in the Bible. “The thing that hath been, it is that which shall be; and that which is done is that which shall be done: and there is no new thing under the sun.”—Ecclesiastes 1:9. The fact that so much good comes from the Bible is the way it should be. The Bible, what a treasure chest of wealth, inspiration and edification.

As you read these thoughts and sayings, you might think you have read such elsewhere. You have. These thoughts have rumbled around in my mind for years. I humbly present these thoughts here to enliven you, uplift and, to quote the Army, to help you be all that you can be.

Write Your Own Success Story

Write your own success story. Write in intrigue, obstacles, problems, conflicts—then solutions, resolutions and the development of winning attitudes.

Winning attitudes produce winning ways.

I’m not big into New Year’s Resolutions-type goal setting. It’s shortsighted and lacks resolve and the will and action to finish the process. Most people focus on the prize, not the price. Few know the price of success, and once they do, fewer still are willing to pay that price. Target, direction and priorities lay the foundation of success. Write things down. Follow the direction you set for yourself—look at your blueprint constantly. The right way is the write way.

Your book should be like all good books—the further into the plot you go, the more enjoyable it becomes. Write in failures and success, and what you learn from each. Explain fully how your friends have come and gone and how they helped you. Kindly write out all those who hurt, betrayed and let you down. Were they ships in the night or were they fellow hands on deck?

Explore your passions, your likes and dislikes and above all tell us of your relationship with God. Tell, please, what makes you tick! Today, your life is an unfinished story. That’s the beauty of the start of this plot.

Common Characteristics of Success

Before I go on, I want to include a few insights into common characteristics of great people.

I wrote a book called Success: American Style. Writing this book started me thinking about common threads in the lives of great people. I noticed several things that definitely were “bridges of commonality” among truly great men and women in this country. Let me give you a quick list of those observations.

1. Almost every great person whom I have observed and studied had, if not a passionate love for God, at least a reverence for the finer things in life, meaning in this instance the spiritual side of life. Their side of life was not only important to them, but it is opening apparent.

2. I saw that almost all great people were very active in the lives of their family and friends. If their families were not involved in their businesses or their careers, at least they were involved in major portions of their life.

One of the things I have consistently observed in our Wall Street Workshop graduates is they usually come up and tell me their stories in twos and threes; families, husbands and wives, or fathers and mothers with their kids. The most excited ones were trading together, in a group with their family or friends.

3. The next thing I observed in the lives of truly great people was that they took control of their own education. Nobody had to tell them to get educated. Can you imagine Abraham Lincoln being scolded by his mother for not studying late at night in front of the fire? Can you imagine George Washington Carver, or Thomas Sowell, or any of the other great leaders of our country in that scenario? They were a step ahead of virtually everyone else, but knowing what their education was going to do for them. They knew where they wanted to be, and they knew that knowledge and the proper application of knowledge was about wisdom and good results.

4. Every great person I have studied had a passion for excellence. They knew that winning in life or being successful in any business enterprise means dealing with the details—and as I’ve said in many of my seminars recently, you need the three “Ps”: Passion, Precision, and then the Profits. And there are a lot of people who want profits without the passion and the precision.

5. I’ve also noticed in reading about the studying these comments, and studying these extraordinary people that they have a tremendous love for all people—specifically those they were working with and others around them. This love spills over into their actions. The point is, they realize they are part of a whole; they can do great things, but they also want to share those great thing and have the people around them also doing great things and share in the blessings.

Let me share a quotation with you from Woodrow Wilson:

“You are not here merely to make a living.  You are here to enable the world to live more
amply, with greater vision, with a finer spirit of hope and achievement. You are here to enrich the world, but will lessen yourself if you forget the errand.”

© 2017 Wade B. Cook. All Rights Reserved. Visit Wade at wadecook.org.


Tax talk is all the rage. So much talk, so little thought.

We all agree that the government needs money. That’s about where our agreement ends.
1. We don’t need more and more government.
2. We don’t need government in every aspect of our lives.
3. We don’t need intrusive and obstructionist government bureaucrats.

The Left and Right, to me, can be defined this way:
THE LEFT love government. They see government as their way to social engineer our lives. They mean well. They call it, “Activist Government.” They get good at the machinations of government. They use the power derived there to accomplish their goals.
THE RIGHT love individual liberty, free from government interference. They want to reduce taxes, reduce regulations, and allow people the liberty they have as their God-given right to raise their families, run their businesses and build their lives.

I believe the following statement says what is in my heart: “The bigger the government, the smaller the man.”

“Government is not the answer, Government is the problem,” so said Ronald Reagan.
I started this article with a comment about taxes. Let’s get back to that and show you the real-world difference between the two.
1. The Left believes in Target and Temporary Tax Cuts.
2. The Right believes in Permanent and Broad-Based Tax Cuts.

Said another way: The Left wants to use taxes for Social Engineering, therefore they get a complicated Tax Code. The Right wants to simplify the Code and not use government to choose winners and losers.

© 2017 Wade B. Cook. All Rights Reserved.