Author Archive for ilene

Media Focus on Trump Blindsides the Public from Rising Wall Street Risks

Courtesy of Pam Martens.

Source: Federal Reserve Supervisory Stress Test 2017 (Numbers Represent Billions of Dollars in Projected Losses in a Severely Adverse Scenario)

Source: Federal Reserve Supervisory Stress Test 2017 (Numbers Represent Billions of Dollars in Projected Losses in a Severely Adverse Scenario)

By Pam Martens and Russ Martens: June 27, 2017

There are some very serious undercurrents at work in the U.S. financial markets but they are getting short shrift on the front pages of newspapers as the President’s travails dominate the news. That’s working out well for Wall Street, which wants to keep the public slumbering as long as possible in hopes of gutting more financial regulations.

One of those serious undercurrents is the amount of risk being held by the biggest banks in the country. According to the Federal Reserve’s release of its Supervisory Stress Test, of the 34 Bank Holding Companies that are subject to its review, under a “severely adverse scenario,” meaning a deep recession, losses for the combined group are projected to be $493 billion.

Not to put too fine a point on it but that’s just 34 banks out of a total of 5,856 FDIC insured banks in the U.S. according to the FDIC’s March 31, 2017 database. The federal deposit insurance fund as of March 31, 2017 has on hand only $84.9 billion to bail out all banks that go under. That means that if there is, once again, contagion among Wall Street mega banks because they’ve all crowded into toxic debt with derivatives written on top, the taxpayer will once again be dragged kicking and screaming by Wall Street cronies in Congress to bail out the reckless bad boys on Wall Street and their multi-million dollar bonuses — which are somehow sacrosanct even when the recipients have put the nation in financial crisis.

The chart above from the Fed’s Supervisory Stress Test shows just how dangerous and irrational the U.S. financial system has become. The traditional role of banks to lend money to commerce and the consumer to keep the economy expanding and innovating and creating good jobs for Americans has been co-opted by Wall Street’s desire to trade and speculate and, eventually, blow itself up again.



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Obamacare Replacement an Impossible Nut to Crack

Courtesy of Mish.

Obamacare replacement looks all but dead in the Senate.

If by some magic it passes the Senate, it will still have to meet House approval.

On top of it all, there are budget reconciliation procedures that have to be met.  Let’s investigate the key hurdles.

Ron Johnson, a Republican senator from Wisconsin, blasted Obamacare in a New York Times Op-Ed Where the Senate Health Care Bill Fails

The primary goals of any health care reform should be to restrain (if not lower) costs while improving quality, access and innovation. This is exactly what consumer-driven, free-market competition does in other areas of our economy. Look no further than how laser eye surgery went from exotic to affordable during the years it was not covered by most insurance.

Washington believes that the solution to every problem is more money. But throwing more money at insurers won’t fix the lack of consumer-driven competition, combined with government mandates that artificially drive up the cost of care and insurance.

Obamacare imposes enormous taxes and plans to spend nearly $2 trillion over the next 10 years to decrease the number of uninsured, mostly through Medicaid but also through taxpayer-subsidized exchanges. In doing so, Obamacare has largely destroyed an already struggling individual health insurance marketplace. It does this by mandating high-cost provisions as standard for every insurance policy, then forcing a small percentage of the population to shoulder the cost.

Senate Adds Penalty

Please consider Senate adds penalty for going uninsured to healthcare bill.

Senate Republicans on Monday released a revised version of their healthcare reform bill that adds a provision requiring consumers with a break in coverage to wait six months before buying insurance.

The Senate bill would make those who had a lapse in coverage for 63 days or more wait six months before obtaining insurance. Read the bill here.

The addition of the six-month waiting period could make it more difficult to pass the legislation if the Senate parliamentarian rules the provision violates the complex budget reconciliation rules. Republican leadership was working over the weekend to make sure the provision complies with the rules and can be included.

It’s unclear whether Senate Republicans will have the votes to pass the bill, with at least five Senate Republicans on record as opposing the bill


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Global series: Globalisation Under Pressure

 

Global series: Globalisation Under Pressure

Courtesy of Catesby HolmesThe ConversationClea ChakravertyThe ConversationFabrice RousselotThe Conversation; Reema Rattan, The Conversation, and Stephan SchmidtThe Conversation

File 20170519 12263 40oiu9

atlas. Chris Murtagh/flickr, CC BY-SA

The rise in nationalism. Brexit and Trump. Reactionary far-right parties wooing millions of voters around the world. The facts on the ground are clear: globalisation – and the international economic and political system that has underpinned it for the past half-century – is fracturing.

Globalisation Under Pressure is a new series from The Conversation Global that both analyses the old international order and surfaces local stories of finance, migration, jobs, education and culture that show the far-reaching impacts of the changes underway today.

Is China the potential driver of a new wave of globalisation?

While China has so far secured support from a number of governments for its Belt and Road Initiative, the recent forum in Beijing also highlighted some obstacles to its advancement.

Globalisation isn’t dead, it’s just shed its slick cover story

Today’s ugly politics are not a backlash against global capitalism, they’re an open embrace of the racism and greed that has always underpinned so-called global governance.

Expert conversation: ‘The right to luxury could constitute a legitimate claim’

Luxury exists in most human societies throughout the world but in different forms. Gratisography/Pexels, CC BY-SA, CC BY-SA

Luxury is a global phenomenon present in all societies in various forms.

The global market for wine: China leads the emergence of a new world order

Vinyards in the Sancerre wine-growing region of France. Peter/Flickr, CC BY-SA, CC BY-SA

The latest figures on the world wine market confirm that the industry is undergoing considerable change, with European countries finding their positions and strategies challenged by the new world.

From Bulgaria to East Asia,


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Is China the potential driver of a new wave of globalisation?

 

Is China the potential driver of a new wave of globalisation?

Courtesy of Anastas Vangeli, Polish Academy of Sciences

The final part of our series Globalisation Under Pressure considers how China is trying to take a leading role in continued global integration with its Belt and Road Initiative, and the obstacles it faces.

Since the 2008 global financial crisis – and with a particular impetus after Xi Jinping became president in 2012 – China’s foreign policy has been characterised by a departure from a “keeping a low profile” approach to one of “striving for achievement”.

Putting to use its economic, political and symbolic capital in global affairs, China has developed diplomatic thinking and practice that’s not just concerned with short-term economic benefit. Rather, it has focused on the long-term impact of its actions on both the outlook of the world system and the country’s position in it.

One of the ways China is seeking to achieve this is through the Belt and Road Initiative (BRI), also known as the 21st-century Silk Road.

Formally announced in 2013, the BRI brings together a number of pre-existing as well as novel elements to provide a strong link between China’s domestic imperatives and its global orientation. It has thus become a focal point for the country’s resources, institutions and ideas.

The BRI is a concept with Chinese features; it is characterised by incrementalism, inductive thinking, and experimentation. It is not a uniform project, as different legs and sections of it differ from each other considerably – it includes a major China-Pakistan Economic Corridor, which has a notable developmental component, for instance, and buying and operating ports in developed countries such as Greece.

The BRI Forum in Beijing on May 14-15 gathered together dozens of heads of states and many more representatives of governments around the world.

The BRI forum in Beijing hosted 29 head of states, including Vladimir Putin (left) and Recept Tayyep Erdogan (right). Kremlin Press Office, CC BY

Although initially announced as…
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Two Swedish economists foresaw the backlash against globalisation – here’s how to mitigate it

 

Two Swedish economists foresaw the backlash against globalisation – here's how to mitigate it

Courtesy of Rodrigo Zeidan, NYU Shanghai

The first article in our series Globalisation Under Pressure looks at work from the 1930s that anticipated the backlash against globalisation.

Economists Eli Heckscher (1879-1952) and Bertil Ohlin (1899-1979) died more than three decades ago. But it’s fair to assume that neither would have been surprised by the underlying causes of Donald Trump’s election as president of the United States, or Brexit for that matter.

Their Heckscher-Ohlin (H-O) model of international trade – developed at the Stockholm School of Economics in the 1930s – clearly predicted today’s middle-class discontent bellowing at the ballot box.

The two Swedes recognised the simple but too-often-overlooked soft underbelly of global trade and growth: prosperity doesn’t distribute evenly. And workers in bustling export industries benefit at the expense of those who face foreign competition.

Inherent inequality

Eli Heckscher’s work predicted today’s middle-class discontent bellowing at the ballot box. Slarre via Wikimedia Commons

Building on the H-O model, academic economist Branko Milanovic has described in an elegant chart how income around the world changed from 1988 to 2008. Only one income bracket failed to get significantly richer: those around the 80% percentile. That’s the middle class in the developed world and the upper class in poor countries.

Ironically, Milanovic’s graphic both resembles and reflects the proverbial elephant in the room that carried Trump to victory in regions such as the US Rust Belt, which are populated by those he characterised as forgotten Americans.

It supports Heckscher and Ohlin’s fundamental premise about the unequal consequences of economic growth – rare is the tide that lifts all boats. Milanovic demonstrates the disparities of our era of globalisation: the rich get richer, the poor get much less poor, and a big chunk of the middle class gets left behind.

The argument is relatively easy to understand. Assume that in a country there are only two industries, divided into high-skilled and low-skilled workers who produce high-tech content (product H) and low-tech content (product L).

Country A…
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These three firms own corporate America

 

These three firms own corporate America

Courtesy of Jan FichtnerUniversity of AmsterdamEelke HeemskerkUniversity of Amsterdam, and Javier Garcia-BernardoUniversity of Amsterdam

File 20170509 11015 1ydxdq8

The Big Three.

A fundamental change is underway in stock market investing, and the spin-off effects are poised to dramatically impact corporate America.

In the past, individuals and large institutions mostly invested in actively managed mutual funds, such as Fidelity, in which fund managers pick stocks with the aim of beating the market. But since the financial crisis of 2008, investors have shifted to index funds, which replicate established stock indices, such as the S&P 500.

The magnitude of the change is astounding: from 2007 to 2016, actively managed funds have recorded outflows of roughly US$1,200 billion, while index funds had inflows of over US$1,400 billion.

In the first quarter of 2017, index funds brought in more than US$200 billion – the highest quarterly value on record.

Democratising the market?

This shift, arguably the biggest investment swing in history, is due in large part to index funds’ much lower costs.

Actively managed funds analyse the market, and their managers are well paid for their labour. But the vast majority are not able to consistently beat the index.

So why pay 1% to 2% in fees every year for active funds when index funds cost a tenth of that and deliver the same performance?

Some observers have lauded this development as the “democratisation of investing”, because it has significantly lowered investor expenses.

But other impacts of this seismic shift are far from democratising. One crucial difference between the active fund and the index fund industries is that the former is fragmented, consisting of hundreds of different asset managers both small and large.

The fast-growing index sector, on the other hand, is highly concentrated. It is dominated by just three giant American asset managers: BlackRock, Vanguard and State Street – what we call the Big Three.

Lower fees aside, the rise of index funds has entailed a massive concentration of corporate ownership. Together, BlackRock, Vanguard and State Street…
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Brexit and weak government: a drama lesson from the Greek economy

 

Brexit and weak government: a drama lesson from the Greek economy

Courtesy of Alexander TziamalisSheffield Hallam University

File 20170619 28851 131f99q

EMstudio/Shutterstock

The UK is not the first country to stand on the brink of leaving the EU. It may enjoy a far bigger and more productive economy than that of Greece, but there are alarming structural similarities between the two economies that can’t be ignored. Just like the threat of Grexit, Brexit is predicted to hurt the UK economy. And now, after an indecisive election that weakened the government’s ability to govern, another similarity with troubled Greece is added. A critical one.

Chancellor Philip Hammond insists that the UK economy is “resilient”. But look closer and there are striking similarities with Greece, a country hit hard by recession.

Both enjoyed debt-fuelled prosperity. UK government debt rose even more aggressively than its Greek counterpart. Successive governments in Greece ran deficits for many years. They were committed to public services such as free healthcare and free education. Both countries maintain an expensive army, a large civil service and have spent billions to host Olympic games. The Greek government recently managed to reign in its deficits and currently experiences a structural surplus in its budget. The UK is still waiting.

Mixed blessing. Ververidis Vasilis/Shutterstock

Industry and property

Both countries saw industry decline in the 1980s, sparking greater reliance on the service sector for employment and tax revenues. In Britain, the service sector now accounts for 78% of GDP; in Greece it is 85%. Central to the Greek economy is tourism, the financial sector and real estate. It’s pretty much the same for Britain but in a different order.

The UK and Greece also share a culture of home ownership, boosted by cheap money, which has made real estate critical for both countries. The sharp fluctuations around the financial crisis made clear the risk of asset price bubbles, but this culture also renders the workforce less mobile and less likely to retrain, contributing to the massive…
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Cash is falling out of fashion – will it disappear forever?

 

Cash is falling out of fashion – will it disappear forever?

Courtesy of Bhaskar ChakravortiTufts University

File 20170623 29849 1vrzfri

An Indian man displays new currency notes of 2,000 Indian rupee. AP Photo/Ajit Solanki

On June 27, the ATM turns 50. Former U.S. Federal Reserve Chairman Paul Volcker once described it as the “only useful innovation in banking.” But today, the cash that ATMs dispense may be on the endangered list.

Cash is being displaced in so many ways that it’s hard to keep track. There are credit cards and electronic payments; apps such as Venmo, PayPal and Square Cash; mobile payments services; cryptocurrencies that operate outside the purview of central banks; and localized offerings such as Kenya’s mPesa, India’s Paytm and Bangladesh’s bKash. These innovations are encouraging cashlessness across communities worldwide.

It’s reasonable to expect cash to follow the path of other goods that have been replaced by digital alternatives, such as photos, music and movies. Will cash – and the ATMs that dispense it – experience a “Blockbuster” moment and disappear from our neighborhoods?

Not so fast. Cash will likely become less popular, thanks to the high cost of using cash and the growing array of alternatives. But I expect it will remain with us forever. The future will be “less cash,” rather than cashless.

The cost of cash

As of 2013, approximately 85 percent of the world’s transactions involved cash.

Reliance on cash is quite uneven across the world. While Singapore, the Netherlands, France, Sweden and Switzerland are among the least cash-reliant countries, in Malaysia, Saudi Arabia, Peru and Egypt, only 1 percent of transactions are cashless. Even some highly advanced countries, such as Japan, are still highly reliant on cash.

Cash usage in the U.S. is still high relative to EU countries. In 2015, cash usage in the U.S. represented 13.1 percent of its GDP, whereas it represented just 7.1 percent in France and 4.5 percent in Switzerland.

Concerns about social equity offer one motivation for lawmakers to push for cashless alternatives. My colleague Benjamin Mazzotta and I have studied the costs of cash across a wide range of countries, with…
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GM Says “Market is Definitely Slowing” Lowers Outlook for Vehicle Sales

Courtesy of Mish

Reuters reports GM Lowers Outlook for U.S. 2017 New Vehicle Sales, but not by enough in my estimation.

General Motors Co now expects U.S. new vehicle sales in 2017 will be in the “low 17 million” unit range, reflecting a widespread expectation that the industry is headed for a moderate downturn, a top executive said on Monday.

“The market is definitely slowing … it’s something we are going to monitor month to month,” Chief Financial Officer Chuck Stevens told analysts on a conference call. “Pricing is more challenging.”

U.S. new vehicle sales hit a record of 17.55 million units in 2016 after a boom that began in 2010. A glut of nearly-new used vehicles is expected to undermine sales this year. Major automakers have reported sales declines for the past three months.

GM had previously announced it expected 2017 new vehicle sales in the “mid-17 million” unit range. Stevens told analysts that sales could fall by 200,000 to 300,000 units this year but that the automaker had “somewhat insulated” itself from a downturn by reducing fleet sales, which lower vehicles’ residual values.

“We are going to remain disciplined from a go-to market perspective,” Stevens said.

He reiterated the company’s target to bring U.S. inventories of its vehicles down to 70 days’ supply by December from 110 days in June.

Reduced Consumer Sales, Reduced Fleet Sales, Reduced Inventories

If sales are down, then reducing inventory-to-sales ratios will require even less production. Durable goods reports do not show that happening.

Questionable Details

This morning I posted Durable Goods: Another Bad Report, Diving Into Questionable Details.

Shipments were supposedly up a total of 1.8% in April-May period. New Orders were supposedly up 1.7% in the same timeframe.

Let’s match this up with auto sales.

  1. June 1: Motor Vehicle Sales Flat, Hope Turns to Second Half: What About Fleet Sales? Incentives?
  2. May 2: Auto Sales Puke Again: Year-Over-Year Totals: GM -6%, Ford -7.2%, Toyota -4.4%, Fiat-Chrysler -7.0%
  3. April 3: Auto Sales Final Numbers: Down 5.7%, Two-Year Low; Don’t Worry, It’s Just a Plateau!

This morning I asked: “Are the auto manufacturers planning a big June and July? If so, why? Revisions anyone?”

Continue reading here…





Amazon Unveils Patented “Behive” Drone Delivery System for Cities

Courtesy of Mish

Amazon fulfillment centers, typically single-story warehouses located in suburbs, do not meet its goal of low-cost deliveries to city dwellers.

Amazon’s patented solution is multi-story, drone-delivery behive center warehouses smack in the middle of major cities.

Will this work?

If Amazon has its way, cities around the US will have vertical drone centers shaped like giant beehives in the middle of downtown districts, allowing the online retailer to coordinate speedy deliveries by unmanned aircrafts.

The company has filed for a patent for so-called “multi-level fulfillment centers” that would accommodate the landing and takeoff of drones in dense urban settings, the latest example of Amazon’s futuristic vision of reshaping the way people receive packages.

The application filed with the US Patent and Trademark Office, which was written in 2015 and published last week, included a number of drawings of drones flying in and out of tall cylinder-shaped buildings that Amazon wants to locate in central metropolitan areas.

The centers could be used to fulfill hundreds of thousands of orders a day, in part relying on a large volume of drones that continually pick up deliveries and can recharge their batteries at the site. The drone centers could also have a “central command” to control flight operations, which would be similar to a flight controller at an airport, Amazon said.

UK Test (Well Sort Of)

Last December, the Guardian reported Amazon claims first successful Prime Air drone delivery.

The trial was open to two customers in the UK who have huge gardens, live close to an Amazon depot and want items that weigh less than 2.6kg (5.7 pounds).

Patent? Why?

I fail to see why a patent was even granted for this concept.

A patent for flying drones out a building? What’s not inherently obvious about that?

Continue reading here…





 
 
 

ValueWalk

Dragnet Surveillance & Censorship Legislation Will Do Nothing To Eliminate Cyber Jihad & Lone Wolf Recruiting

By Guest Post. Originally published at ValueWalk.

Recent efforts by governments to weaken encryption, introduce exploitable vulnerabilities into applications, and to develop Nation-state dragnet surveillance programs will do little to stymie the rise in terrorist attacks.  These efforts will be a detriment to national security and only further exhaust law enforcement resources and obfuscate adversary communiqués within a massive cloud of noise.

Photo by Visual Content, FlickrBackdoors for the Good Guys, Means Backdoors for the Bad Guys

Cyber-insecurity is not a natural problem; it is unintentionally caused by a combination of the negligence, naivety, and ignorance of irresponsible data managers or it is intentionally resultant of the actions of m...



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Phil's Favorites

Media Focus on Trump Blindsides the Public from Rising Wall Street Risks

Courtesy of Pam Martens.

Source: Federal Reserve Supervisory Stress Test 2017 (Numbers Represent Billions of Dollars in Projected Losses in a Severely Adverse Scenario)

By Pam Martens and Russ Martens: June 27, 2017

There are some very serious undercurrents at work in the U.S. financial markets but they are getting short shrift on the front pages of newspapers as the President’s travails dominate the news. That’s working out well for Wall Street, which wants to keep the public slumbering as long as possible in hopes of gutting mo...



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OpTrader

Swing trading portfolio - week of June 26th, 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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Zero Hedge

Seattle Min Wage Hikes Crushing The Poor: 6,700 Jobs Lost, Annual Wages Down $1,500 - UofW Study

Courtesy of ZeroHedge. View original post here.

Just last week we noted that McDonalds launched plans to replace 2,500 human cashiers with digital kiosks like the ones below (see: McDonalds Is Replacing 2,500 Human Cashiers With Digital Kiosks: Here Is Its Math):

Of course, no matt...



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Chart School

Kelly Heros Sgt. OddBall philosophy to read stock charts

Courtesy of Read the Ticker.

Sgt OddBall said these famous words "Don’t hit me with them negative waves so early in the morning!".



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readtheticker.com PnF charts allows the chart reader the judge price waves of both positive and negative.

Waves are judged 3 (power), 2 (significant), 1 (above average). Blue is up, Red is down.

For each PnF wave you should judge: breaking into new ground or not, thrust, volume, net volume, strength (3, 2 or 1).

In an uptrend (mark up): You wish to see blue positive 3s and 2s controlling the trend, breaking into n...

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Insider Scoop

Hertz Gets A Second Intra-Day Boost On News Of Apple Rentals

Courtesy of Benzinga.

Related AAPL Consumer Study Shows Which Cannabis Brands Are Winning The Design Race And Why What The Future Holds For Apple In China ...

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

Biotech

We have a vaccine for six cancers; why are less than half of kids getting it?

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

 

We have a vaccine for six cancers; why are less than half of kids getting it?

Courtesy of Electra D. Paskett, The Ohio State University

Early in our careers, few of us imagined a vaccine could one day prevent cancer. Now there is a vaccine that keeps the risk of developing six Human Papillomavirus (HPV)-related cancers at bay, but adoption of it has been slow and surprising low.

Although it’s been available for more than a decade, as of 2014 only 40 percent of girls had received the full three doses of the vaccine, while only ...



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Digital Currencies

Bitcoin Buyer Beware

Courtesy of Zero Hedge

Entrepreneurs have a new trick to raise money quickly, and it all takes place online, free from the constraints of banks and regulators. As Axios reports, since the beginning of 2017, 65 startups have raised $522 million using initial coin offerings — trading a digital coin (essentially an investment in their company) for a digital currency, like Bitcoin or Ether.

One recent example, as NYT reports, saw Bay Area coders earn $35 million in less than 30 seconds during an online fund-raising event...



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Mapping The Market

Frontier laid off state Senate president after broadband vote it didn't like

Courtesy of Jean-Luc

Speaking of FTR – not nice people…

Frontier laid off state Senate president after broadband vote it didn’t like

By Arstechnica.com

Broadband provider Frontier Communications recently laid off the West Virginia state Senate president after a vote the company didn't like—and yes, you read that correctly.

West Virginia does not have a full-time legislature, and state lawmakers can supplement their part-time government salaries ($20,000 a year,&...



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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!

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Members' Corner

Robert Sapolsky: The biology of our best and worst selves

Interesting discussion of what affects our behavior. 

Description: "How can humans be so compassionate and altruistic — and also so brutal and violent? To understand why we do what we do, neuroscientist Robert Sapolsky looks at extreme context, examining actions on timescales from seconds to millions of years before they occurred. In this fascinating talk, he shares his cutting edge research into the biology that drives our worst and best behaviors."

Robert Sapolsky: The biology of our best and worst selves

Filmed April 2017 at TED 2017

 

p.s. Roger (on Facebook) saw this talk and recommends the book ...



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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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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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