Archive for the ‘Topic’ Category

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Financial Markets and Economy

Apple Must Pay Billions for Tax Breaks in Ireland, E.U. Orders (NY Times)

The European Union on Tuesday ordered Ireland to collect $14.5 billion in unpaid taxes from Apple, a record penalty that worsened tensions with the United States over the bloc’s crackdown on sweetheart deals with global multinationals.

Dollar Set for First Monthly Gain Since May on Divergence Bets (Bloomberg)

The dollar headed for its first monthly advance against the yen since May on mounting speculation U.S. monetary policy will further diverge from that of the Bank of Japan.

We're about to enter 'the worst month of the year for stocks' (Business Insider)

The month is the only one of the year in which the Dow Jones Industrial Average has been lower on average over the past 20, 50, and 100 years.

Wage growth looks like it's about to take off (Business Insider Australia)

It has been heard many times before, but this Friday's August nonfarm payrolls report in the US looms as perhaps the most important data release in terms of the near-term outlook for US interest rates.

Commercial sector: flow of funds falls in first four months of FY17 (Live Mint)

That the economic recovery continues to be tepid is seen from the fact that the flow of financial resources to the commercial sector—from banks as well as non-banking sources—so far this fiscal year has been well below that of the same period last year.

Foreign Investors Turn Sellers in Vietnam After 10-Year Spree (Bloomberg)

After pumping in $3.4 billion since 2006, overseas traders are set to be net sellers of assets traded on Ho Chi Minh City Stock Exchange this year for the first time in a decade, according to data compiled by Bloomberg.

EU telecom regulators adopt strict net neutrality rules, industry dismayed (Reuters)

European Union telecoms regulators adopted strict rules on Tuesday limiting how telecoms firms like Vodafone and Orange can prioritize some types of Internet traffic, dealing a blow to an industry hoping to


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Do You Believe There is Food Price Deflation? Mish vs. Consensus

Courtesy of Mish.

Here’s the question of the day: Do you believe there is food price deflation?

The reason I ask is the Wall Street Journal reports Food Price Deflation Cheers Consumers, Hurts Farmers, Grocers and Restaurants.

The U.S. is on track this year to post the longest stretch of falling food prices in more than 50 years, a streak that is cheering shoppers at the checkout line but putting a financial strain on farmers and grocery stores.

The trend is being fueled by an excess supply of dairy products, meat, grains and other staples and less demand for many of those same products from China and elsewhere due to the strong dollar. Lower energy costs for transportation and refrigeration also are contributing to sagging food prices, say economists.

“Deflation is a godsend for consumers,” said Bob Goldin, vice chairman of food consultancy Technomic Inc.

Nationwide, the price of a gallon of whole milk on average was down 11% to $3.06 in July over a year ago; the price of a dozen large eggs fell 40% to $1.55 in the same period.

The price of food at home is down 1.6% on a seasonally unadjusted basis in the 12 months through July, says the BLS.

Stephanie Hegre, a 46-year-old nanny in Thousand Oaks, Calif., has noticed a drop of about 10% in her weekly food shopping bill. Her 16-year-old twin daughters go through a lot of milk, meat and bread, adding up to an average weekly grocery bill of about $200.

“I feel it has dropped by $20 a week which, when you’re on a budget, is noticeable,” said Ms. Hegre, who has been stockpiling staples in case prices increase. “We freeze bread and buy two weeks’ worth of bacon at a time,” she said.

The glut is so severe in some places that dairy farmers have been dumping millions of pounds of excess milk onto fields. The U.S. Department of Agriculture just bought $20 million worth of cheese in response to hard-hit dairy farmers’ requests. The cheese was given to food banks and others through USDA nutrition-assistance programs

Today’s Question

Do you believe there is food price deflation?

— Mike Shedlock (@MishGEA) August 31, 2016

The Freezer

Freezing 2 week’s worth of bacon is nothing. I


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Six Ways NIRP Is Economically Negative

 

Six Ways NIRP Is Economically Negative

Courtesy of John Mauldin, Thoughts from the Frontline 

“Positive anything is better than negative nothing.”

– Elbert Hubbard

“Once you replace negative thoughts with positive ones, you’ll start having positive results.”

– Willie Nelson

If you have any doubt that we’ve wandered into a new and unexplored economic universe, consider this number: $12.6 trillion. That’s the face value of government and corporate bonds currently trading worldwide with nominal yields below zero.

Note that word trading. These bonds are in fact trading. Liquidity has not dried up. An active market exists for negative-yield bonds. Buyers haven’t gone on strike, and sellers aren’t desperately dumping the bonds. This is weird. None of it should be happening. Plainly, however, it is happening.

Have traders and investors lost their minds? No. They are making the most rational decisions they can in an increasingly irrational world. And therein lies the problem with negative interest rate policies, or NIRP, as we now call them (not so fondly).

We don’t have infinite choices. Our decisions spring from the alternatives available to us. When all the alternatives are bad, any choice we make will be bad, too. Today we will start a two-part series on how central banks and specifically NIRP are hurting the global economy. First, a little background.

The Price of Liquidity

What is an interest rate? You might describe it as the price of money, or in investment terms it is the price of liquidity. You don’t have cash now, but you expect to have it in the future. If a lender believes your expectation is plausible, you can borrow the cash now in exchange for promising to replace it tomorrow. But you don’t just replace what you borrowed. You add an additional amount to compensate the lender for giving up liquidity on that money. That additional amount is what we call interest.

Now, thinking through this lending scenario, is there any way in which negative interest makes…
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Food Deflation Driving “Least Profitable Year In 20 Years” As Farmers And Grocers Get Crushed

Courtesy of ZeroHedge. View original post here.

Sinking food prices, while good for the consumer, is devastating for almost everyone else in the supply chain from the farmer all the way to the grocers.  Farmers suffer as their key input cost, labor, is actually increasing in many states from the rash of minimum wage hikes around the country while fuel seems to move wildly with any number of daily rumors about production freezes in the middle east.  Meanwhile, grocers suffer as already thin margins get compressed even further as existing inventories get marked down. 

Food prices have come under extreme pressure in 2016 due primarily to lower Chinese consumption resulting from a weak Chinese economy and a strong U.S. dollar.  This slack in demand has resulted in massive supply gluts for several commodities as producers failed to adjust supply quickly enough to meet new levels of demand.  In fact, the USDA recently provided a $20mm "bailout" to cheese producers and reports have surfaced that milk producers have been dumping excess milk on fields. 

With the base inputs of corn, wheat and soybeans all tanking, food deflation has been pervasive with almost every commodity down substantially YoY. 

Proteins, which represent nearly 20% of the typical consumer's shopping basket, are trending flat to down 8% so far in 2016.

Food Inflation - Proteins

Dairy and grains are down mid-single digits YoY while egg prices have crashed as suppliers added tons of excess egg-laying capacity in response to last year's price spike related to the avian flu outbreak in the Midwest.

Food Inflation

Fresh fruit and vegetable prices have held up better presumably because consumption is less dependent on the export market.

Food Inflation

Meanwhile, alcohol prices continue to be the most stable of pretty much any item in the typical shopper's basket.

Food Inflation

Farmers are among the hardest hit when food prices decline.  In fact, we recently wrote about how sinking ag commodity prices in the Midwest were resulting in substantial declines in ag land prices and farmer incomes which then translate into an increase in farmer credit defaults (see "Farmland Bubble Bursts As Ag Credit Conditions Crumble").  Within that post we noted that farmland prices in


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Drugs and Privilege: Big Business, Congress and the EpiPen

 

Drugs and Privilege: Big Business, Congress and the EpiPen

Courtesy of 

This post first appeared on BillMoyers.com.

Cash and carry has become nothing more than standard operating procedure in politics and government, and it’s wrecking the republic. The whole system is rotten to the core, corrupted by big business and special interests from the seventh son to the seventh son.

Or daughter, as we learned these past few days when the news introduced us to Heather Bresch, CEO of a drug company called Mylan and daughter of Democratic US Sen. Joe Manchin III, who's also the former governor of West Virginia.

Mylan manufactures and sells EpiPen, the emergency delivery system for an allergy drug, epinephrine, that can make the difference between life and sudden death. The cost for a two-pack of the devices has soared nearly 550 percent to $608.61. That’s a price far beyond the means of most families with kids threatened by possibly fatal allergic reactions.

At the same time, Bresch has seen her own compensation increase a whopping 671 percent, from $2,453,456 in 2007 (the year that Mylan bought EpiPen) to $18,931,068 in 2015.

She should resign for price gouging rather than get a raise, but like so many of her fellow executives Bresch sails serenely on as her fellow Americans drown in health care debt. Her career and the success of her company epitomize everything that so enrages every voter who believes that the fix is in and that the system is weighted in favor of those with big money and serious connections.

According to reports, Bresch got her first job at Mylan working in the factory basement, when her well-connected dad asked the company’s then-CEO, Milan Puskar, for a favor. Later, a scandal erupted when it was discovered that West Virginia University, which had received a $20 million donation from Puskar and whose president was a Manchin and Bresch family friend, had awarded her an MBA although she had not completed the required coursework.

The school president and other administrators were forced to resign, but Bresch survived the controversy and has done very well indeed in the pharmaceutical…
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Critical Thinking in Short Supply? What About Short Demand?

Courtesy of Mish.

A survey by the Wall Street Journal shows  ‘Soft Skills’ Like Critical Thinking in Short Supply.

The sought-after soft skills most in demand are communication, organization, teamwork, punctuality, critical thinking, social savvy, creativity and adaptability.

The job market’s most sought-after skills can be tough to spot on a résumé.

Companies across the U.S. say it is becoming increasingly difficult to find applicants who can communicate clearly, take initiative, problem-solve and get along with co-workers.

A recent LinkedIn survey of 291 hiring managers found 58% say the lack of soft skills among job candidates is limiting their company’s productivity.

In a Wall Street Journal survey of nearly 900 executives last year, 92% said soft skills were equally important or more important than technical skills. But 89% said they have a very or somewhat difficult time finding people with the requisite attributes. Many say it’s a problem spanning age groups and experience levels.

A LinkedIn analysis of its member profiles found soft skills are most prevalent among workers in the service sector, including restaurant, consumer-services, professional-training and retail industries.

To determine the most sought-after soft skills, LinkedIn analyzed those listed on the profiles of members who applied for two or more jobs and changed jobs between June 2014 and June 2015. The ability to communicate trumped all else, followed by organization, capacity for teamwork, punctuality, critical thinking, social savvy, creativity and adaptability.

At Two Bostons, a small chain of pet boutiques outside Chicago, owner AdreAnne Tesene conducts at least three rounds of interviews before she hires someone.

For higher-level positions, she invites job candidates and their significant others out to dinner with the rest of the management team, “so we can see how they treat their family.” She also has her employees fill out an evaluation of a new co-worker after 90 days.

Ms. Tesene, who opened her first store 11 years ago, said she sees fewer candidates who can hold a conversation, want to interact with people and are eager to excel.

Dare to Be Different?

Outside of communication and punctuality, I wonder how many companies really want what they say. Large technology firms like Google and Apple do. So might small startups.

What about banks?

For most bank positions, the last thing banks want is for someone to think for themselves. There are


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Michael Lewitt: “We’re In The Late Stages of Ponzi Finance”

Courtesy of ZeroHedge. View original post here.

Since Michael Lewitt, aka "The Credit Strategist" is one of our preferred bond market analysts, we enjoyed his latest interview by Financial Senes' Jim Puplava, where he discusses the only thing that matters: "are we on the verge of a massive market crash." It will hardly come as a surprise that Lewitt, author of The Committee to Destroy the World: Inside the Plot to Unleash a Super Crash on the Global Economy, argues that the problems we faced in the last recession haven’t been dealt with and, as a result, another crisis is likely, particularly when it comes to the opaque derivatives market. In sum, Lewitt believes we are “in the late stages of Ponzi finance.”

The following is a summary of Puplava's interview with Lewitt, which can be heard in full here.

Failed Policies

We see abundant evidence that government policies have failed and are failing, Lewitt said. 

“They’ve tried to solve the debt crisis by printing trillions of dollars of more debt,” he noted. “They’ve added on top of that hundreds of billions of regulations or new regulatory costs, and somehow they expect the economy to grow under the weight of those burdens.”

These and other missteps by regulators have hampered growth and have created our current low-yield, low-interest rate muddled economy. Many regulators come from the same class of academic economists, Lewitt argued, and they don’t understand how the world actually works.

As such, he said, our current course is going to lead to another crisis.

Debt and Regulations Are Crippling Growth

The worst thing about the debt buildup is borrowed money isn’t being used for productive ends, Lewitt said. And what’s more, political will doesn’t exist to fix what is an acknowledged problem, he added.

“You couldn’t design this worse if you tried,” he said. “Low-interest rates cover up a lot of things, but eventually you have to pay the money back.”

As the debt inevitably matures, companies will be looking back on years of low growth, and they’ll have to default, Lewitt stated. And governments will keep taxing and spending until there’s pushback.

In


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A Two-Bar Pattern that Points to Trade Setups

 

A Two-Bar Pattern that Points to Trade Setups

By Elliott Wave International

Some people like to get outside on the weekends, maybe playing tennis or working in the yard. Some people like to visit their friends or cook a big meal or go out to see a movie. And some people who are passionate about their work — such as Elliott Wave International's futures analyst Jeffrey Kennedy — like to stare at hundreds of price charts on their computer screen to find patterns that point to trade setups. We used to worry for his health but not anymore, because he's been doing it for years and he comes up with some neat stuff. A case in point is his discovery of a two-bar pattern that he named the Popgun. Find out more in this excerpt from the Club EWI eBook, How to Use Bar Patterns to Spot Trade Setups.

The Popgun
I'm no doubt dating myself, but when I was a kid, I had a popgun — the old-fashioned kind with a cork and string (no fake Star Wars light saber for me). You pulled the trigger, and the cork popped out of the barrel attached to a string. If you were like me, you immediately attached a longer string to improve the popgun's reach. Why the reminiscing? Because "Popgun" is the name of a bar pattern I would like to share with you this month. And it's the path of the cork (out and back) that made me think of the name for this pattern.

The Popgun is a two-bar pattern composed of an outside bar preceded by an inside bar. (Quick refresher course: An outside bar occurs when the range of a bar encompasses the previous bar and an inside bar is a price bar whose range is encompassed by the previous bar.) In Chart 1 (Coffee), I have circled two Popguns.

So what's so special about the Popgun? It introduces swift, tradable moves in price. More importantly, once the moves end, they are significantly retraced, just like the popgun cork going out and back. As you can see in Chart 2 [not shown], prices advance sharply following the Popgun, and then the move is significantly retraced. In Chart 3 [not


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Case-Shiller Home Price Index Declines 0.1%, Econoday Concludes No Bubble

Courtesy of Mish.

On the basis of a measly 0.1% decline in the Case-Shiller 20-City Home Price Index, Bloomberg Econoday concludes speculation isn’t a risk.

Why do I read keep reading Econoday? Entertainment value.

Highlights

Add Case-Shiller to the list of home-price data that are slipping. The 20-city adjusted index fell 0.1 percent in data for June for the third straight negative score. Year-on-year appreciation also continues to slip, down 2 tenths to 5.1 percent for the slowest rate since August last year. This rate peaked in January at 5.7 percent and, though still respectable, has been sliding since.

Nine of the 20 cities show declines in the latest month with weakness centered in the Midwest and Northeast where Chicago is down on the month and up only 3.3 percent year-on-year with New York also down on the month and up only 2.1 percent on the year. Portland, at 12.6 percent on the year, and Seattle at 11.0 percent are stretching their lead over others in the West with California cities slowing to the mid-single digits.

The slowing has its positive side for California where prior gains were raising talk of a possible bubble. But over speculation doesn’t seem to be a risk right now as prices for existing homes ease.

Case-Shiller City Indexes

case shiller 10 index 2016-08

Case-Shiller 20-City Price Changes

case shiller 10 index 2016-08A

I’m sure glad to discover there’s no speculation and no bubble in California.

Mike “Mish” Shedlock


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Swiss Central Bank Holds $129 Billion in Equities, Owns More Public Shares of Facebook Than Zuckerberg

Courtesy of Mish.

The Swiss central bank is now the eighth largest investor in publicly traded shares of Facebook following the Swiss Central Bank Buying Spree.

Facebook

Switzerland’s central bank now owns more publicly-traded shares in Facebook than Mark Zuckerberg, part of a mushrooming stock portfolio that is likely to grow yet further.

The tech giant’s founder and CEO has other ways to control his company: Zuckerberg holds most of his stake in a different class of stock. Nevertheless this example illustrates how the Swiss National Bank has become a multi-billion-dollar equity investor due to its campaign to hold down the Swiss franc.

It is now the world’s eighth-biggest public investor, data from the Official Monetary and Financial Institutions Forum show. While most analysts think the strategy is sound, this does expose the SNB to stock market risks that the likes of the European Central Bank and U.S. Federal Reserve avoid.

“The SNB is in a bit of a corner, they have acquired a lot of foreign currency as part of their efforts to weaken the franc and they have to invest it somewhere,” said Alessandro Bee, an economist at UBS. “The bond market is drying up and so they are going increasingly for equities.”

The SNB’s balance sheet is now proportionately the biggest of any leading central bank. On top of that, its stock portfolio has risen at roughly twice the rate of the overall balance sheet as it diversifies its holdings.

In the last 12 months the SNB’s equity holdings have surged 41 percent to around 127 billion francs, according to Reuters calculations. Part of this is due to stocks increasing in value despite losses in recent months, as well as new purchases.

The SNB has also diversified across stock markets. The United States is its favoured location, with its holdings on Wall Street jumping to nearly $62 billion at the end of June from $38.6 billion a year earlier, according to a Securities and Exchange Commission filing.

The SNB has increased its stakes in all of its top 10 U.S. holdings this year, while many big institutional investors have been reducing much of theirs. For example the SNB’s stake in Apple increased by 1.07 million shares in the second quarter, while Invesco sold 9.53 million shares and Fidelity sold 9.23 million in the iPhone


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Zero Hedge

China Turmoil Looms As Traders Bet On Post-G-20 Yuan Tumble

Courtesy of ZeroHedge. View original post here.

Something is different this time. For the last few years, China has 'ensured stability' in the Yuan ahead of major geopolitical events - no matter what - only to let things slide back into turmoiling after. Ahead of this weekend's G-20, however, and amid notably deteriorating fundamentals (and an increasingly hawkish-sounding Fed), China has let the Yuan tumble in the last week... and traders are piling into bets on post-G-20 weakness to continue.

As Bloomberg notes, history shows that the Chinese currency usually strengthens ahead of major political or economic event...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Apple Must Pay Billions for Tax Breaks in Ireland, E.U. Orders (NY Times)

The European Union on Tuesday ordered Ireland to collect $14.5 billion in unpaid taxes from Apple, a record penalty that worsened tensions with the United States over the bloc’s crackdown on sweetheart deals with global multinationals.

Dol...



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ValueWalk

European Ruling against Apple and Ireland Vindicates Brexit

By The Foundation for Economic Education. Originally published at ValueWalk.

European Ruling against Apple and Ireland Vindicates Brexit

Taxation is bad enough: two consenting parties arrange a mutually-beneficial exchange, and an interloping third party demands a cut.

What compounded injustice then for a fourth party to enter the scene: a super-state/super-bandit who insists that the shakedown wasn’t big enough. No, the victim must hand over more to the lesser thief, even against the recipient’s will and in spite of his protest!

Thou Shalt Not… Not Steal

Ireland must join the rest of the Union in bleeding the private sector dry.

That...



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Phil's Favorites

Do You Believe There is Food Price Deflation? Mish vs. Consensus

Courtesy of Mish.

Here’s the question of the day: Do you believe there is food price deflation?

The reason I ask is the Wall Street Journal reports Food Price Deflation Cheers Consumers, Hurts Farmers, Grocers and Restaurants.

The U.S. is on track this year to post the longest stretch of falling food prices in more than 50 years, a streak that is cheering shoppers at the checkout line but putting a financial strain on farmers and grocery stores.

The trend is being fueled by an excess supply of dairy products, meat, grains and other staples and less demand for many of those same products from China and elsewhere due to the strong dollar. Lower energy costs...



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Chart School

Little Change

Courtesy of Declan.

I'm waiting for bears to step in and reverse the nascent breakout but it hasn't happened yet. The intraday range was tight and the change relative to yesterday was small. This left little to add.

The S&P still has three 'sell' triggers in MACD, On-Balance-Volume and ADX to work off before the rally resumes.


The Nasdaq is creating a mini-bear flag, although confirmation will require a single day loss of at least 1%. It has a more solid technical picture than the S&P.

...

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Kimble Charting Solutions

US Dollar/Yen testing important support zone

Courtesy of Chris Kimble.

The US Dollar/Yen is facing a trio of potential support lines at this time with few people bullish the US$/Yen at Stocktwits. What happens at this potential support zone, could well impact the Risk On trade from now until year end.

CLICK ON CHART TO ENLARGE

The trend in the US$/Yen remains down for the past few months, as the YEN has been stronger than the US$. The US$/YEN remains inside of a steep falling channel over the past 10-months.

The bottom of this steep falling channel and two ot...



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OpTrader

Swing trading portfolio -week of August 29th, 2016

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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Biotech

Epizyme - A Waiting Game

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

Epizyme was founded in 2007, and trying to create drugs to treat patient's cancer by focusing on genetically-linked differences between normal and cancer cells. Cancer areas of focus include leukemia, Non-Hodgkin's lymphoma and breast cancer.  One of the Epizme cofounders, H. Robert Horvitz, won the Nobel Prize in Medicine in 2002 for "discoveries concerning genetic regulation of organ development and programmed cell death."

Before discussing the drug targets of Epizyme, understanding epigenetics is crucial to comprehend the company's goals.  

Genetic components are the DNA sequences that are 'inherited.'  Some of these genes are stronger than others in their expression (e.g., eye color).  Yet, some genes turn on or off due to external factors (environmental), and it is und...



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Digital Currencies

Man Who Introduced Millions to Bitcoin Says Blockchain Is a Bust

 

Man Who Introduced Millions to Bitcoin Says Blockchain Is a Bust 

By  at Bloomberg

Excerpt:

Stefan Thomas, who introduced millions of people to bitcoin, has had a change of heart.

Blockchain, the ledger software that makes the digital currency possible...



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Mapping The Market

Illusion of Choice

From Jean-Luc:

Looks like we are down to about 10 companies for our consumer goods:

http://www.visualcapitalist.com/illusion-of-choice-consumer-brands/

Just like banks, airlines and cable companies! 

The Illusion of Choice in Consumer Brands

Explore the full-size version of the above graphic in all its glory.

If today’s infographic looks familiar, that’s because it originates from a well-circulated report that Oxfam International puts together to show consolidation i...



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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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Promotions

PSW is more than just stock talk!

 

We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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