Posts Tagged ‘news’

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Who Owns The Media? The 6 Monolithic Corporations That Control Almost Everything We Watch, Hear And Read

Who Owns The Media? The 6 Monolithic Corporations That Control Almost Everything We Watch, Hear And Read

Courtesy of Michael Snyder at Economic Collapse 

Back in 1983, approximately 50 corporations controlled the vast majority of all news media in the United States.  Today, ownership of the news media has been concentrated in the hands of just six incredibly powerful media corporations.  These corporate behemoths control most of what we watch, hear and read every single day.  They own television networks, cable channels, movie studios, newspapers, magazines, publishing houses, music labels and even many of our favorite websites. Sadly, most Americans don’t even stop to think about who is feeding them the endless hours of news and entertainment that they constantly ingest.

Most Americans don’t really seem to care about who owns the media.  But they should. The truth is that each of us is deeply influenced by the messages that are constantly being pounded into our heads by the mainstream media.  The average American watches 153 hours of television a month. In fact, most Americans begin to feel physically uncomfortable if they go too long without watching or listening to something. Sadly, most Americans have become absolutely addicted to news and entertainment and the ownership of all that news and entertainment that we crave is being concentrated in fewer and fewer hands each year. 

The six corporations that collectively control U.S. media today are Time Warner, Walt Disney, Viacom, Rupert Murdoch’s News Corp., CBS Corporation and NBC Universal. Together, the "big six" absolutely dominate news and entertainment in the United States.  But even those areas of the media that the "big six" do not completely control are becoming increasingly concentrated. For example, Clear Channel now owns over 1000 radio stations across the United States. Companies like Google, Yahoo and Microsoft are increasingly dominating the Internet.

But it is the "big six" that are the biggest concerns.  When you control what Americans watch, hear and read you gain a great deal of control over what they think. They don’t call it "programming" for nothing. 

Back in 1983 it was bad enough that about 50 corporations dominated U.S. media.  But since that time, power over the media has rapidly become concentrated in the hands of fewer and fewer people….

In 1983, fifty corporations dominated most of every mass medium and the biggest media merger in history was a $340 million deal. … [I]n…
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The Only Thing Decoupling is Investors and their Money

The Reformed Broker Joshua Brown shatters any remaining signs of life in dying Decoupling myth. – Ilene

The Only Thing Decoupling is Investors and their Money

Hammer smashing plate of glass

Johnny Cash once ominously sang "you can run on for a long time" before reminding those whom he considered wicked that sooner or later, they’d be cut down.

US stocks were able to ignore the sovereign debt crises of southern Europe…until they weren’t. Now your Staples ($SPLS) and your Akamai Networks ($AKAM) are slaves to the macro once more. The "Decoupling Theory" fails again, just as it did in 2008 when asset prices around the world fell in tandem.

I’m gonna say this one time – Decoupling is a demonstrably false concept in the 21st century global economy. Sure, there are degrees of correlation but there is no decoupling. Everybody around the world owns pieces of everything, regardless of borders, currencies, languages or timezones.  The world has been ETF’d, we all reside in a bought-and-sold basket of instruments. China will eventually succumb to its export customers’ malaise just as surely as US and European exporters will ultimately feel the pinch of a China slowdown.

Russia, Australia, Brazil and Canada may be stronger than their ‘customer nations’ because of their vast raw materials but can they really sustain this strength should the ‘customer nations’ begin demanding less raw material from them?

Nothing is decoupled with anything anymore.  You may tell yourself that your Abercrombie & Fitch ($ANF) shares have no exposure to Spain or Portugal – but if the market decides to blow itself up over Spain and Portugal, Abercrombie’s gonna get slapped around.

By the way, the same principle is in effect on bounces and rallies.  How else to explain the 420 point Dow Jones Industrial Average rally on confirmation of the Euro TARP? How else to explain the fact that every stock was up, European exposure or not?

So the next time you hear Bob Pisani on CNBC emphasize "Europe’s Close", as though the closing of their markets is like the ‘all clear’ signal for US stocks to recover, remember that the macro has reasserted its influence on our market.  And this influence doesn’t wane for any market’s closing bell.

Recoupled. Adjust your expectations accordingly. 


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What Does NOT Move Markets? Examining 8 Claims of Market Efficiency

What Does NOT Move Markets? Examining 8 Claims of Market Efficiency 

By Susan Walker, courtesy of Elliott Wave International 

If everyone says that shocks from outside the financial system — so-called exogenous shocks — can affect it for better or worse, they must be right.

It just sounds so darned logical, right? Economists believe this trope to be true, mainly because they believe that investors are rational thinkers who re-evaluate their positions after every new bit of relevant information turns up.

Beginning to sound slightly impossible? Well, yes.

It turns out that logic is exactly what’s missing from this it-feels-so-right idea of rational reaction to exogenous shocks.  Find out what really moves markets — download the free 118-page Independent Investor eBook.  You might be surprised to discover that it’s not the Fed or "surprise" news events. Learn more, and download your free ebook here.

Excerpted from Robert Prechter’s February 2010 Elliott Wave Theorist, published Feb. 19, 2010                            

The Efficient Market Hypothesis (EMH) argues that as new information enters the marketplace, investors revalue stocks accordingly. … In such a world, the market would fluctuate narrowly around equilibrium as minor bits of news about individual companies mostly canceled each other out. Then important events, which would affect the valuation of the market as a whole, would serve as “shocks” causing investors to adjust prices to a new level, reflecting that new information. One would see these reactions in real time, and investigators of market history would face no difficulties in identifying precisely what new information caused the change in prices. …

This is a simple idea and simple to test. But almost no one ever bothers to test it. According to the mindset of conventional economists, no one needs to test it; it just feels right; it must be right. It’s the only model anyone can think of. But socionomists [those who use the Wave Principle to make social predictions] have tested this idea multiple ways. And the result is not pretty for the theories that rely upon it.

The tests that we will examine are not rigorous or statistical. Our time and resources are limited. But in refuting a theory, extreme rigor is unnecessary. If someone says, “All leaves are green,” all one need do is show him a red one to refute the claim. I hope when we are done with our brief survey, you will


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The FBI Just Shut Down Tax Protest Terrorist Joe Stack’s Website

The FBI Just Shut Down Tax Protest Terrorist Joe Stack’s Website

Courtesy of John Carney at Clusterstock 

crash plane austin

Source: AP

It’s a good thing we grabbed the insane manifesto of Joe Stack, the guy who flew his plane into a seven story building in Austin, Texas. 

Because the website is now down.

"This website has been taken offline due to the sensitive nature of the events that transpired in Texas this morning and in compliance with a request from the FBI," T35 Hosting explains.

While it seems reasonable for T35 to comply with the FBI request, we cannot help but wonder what the purpose of taking the site down might be. Is the FBI worried it might inspire copycat attacks?

See Also:

 

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S&P Hits 1,000 – A Sampling of Headlines From Last Time We Saw This Level…

Welcome to Zach! - Ilene

S&P Hits 1,000 – A Sampling of Headlines From Last Time We Saw This Level…

Wall Street JournalCourtesy of Zach at ZachStocks

Welcome Back!  I have to admit that seeing the S&P 500 index back in “quadruple digit status” makes me just a bit nostalgic.  So do you remember where you were the last time the S&P closed above 1,000?  For me, the memories are a bit hazy as our twins were born October 21, and since the last time we saw this level occurred on November 4th, I was a good fortnight into sleep deprivation.

Actually the bigger question might be if you remember where you were the first day this side of 2004 when you saw the S&P close below the 1,000 mark.  The date was October seventh and being a bit of a pack rat, I still have the Wall Street Journal for Oct 8th in which the headline reads:

US, Britain Up Ante in Fight to Stop Crisis

Obviously, that fight had a long way to go as the S&P eventually dropped another 33% before hitting rock bottom just off the illustrious 666 level.  The trip down memory lane is more than just “for old times sake” – it’s important to realize just how far we have come and what issues caused (and prolonged) this financial crisis.  Here are a few additional noteworthy headlines:

Sept 13: Crisis on Wall Street as Lehman Totters, Merrill Seeks Buyer, AIG Hunts for Cash

The article explains that after bailing out Fannie Mae and Freddie Mac just one week prior, the government refused to provide a financial backstop to potential buyers of Lehman

Sept 17: U.S. Plans Rescue of AIG to Halt Crisis; Central Banks Inject Cash as Credit Dries Up

“The Federal Reserve appeared to be motivated in part by worries that Wall Street’s financial crisis could begin to spill over into seemingly safe investments held by small investors such as money-market funds that invest in AIG debt.”  I honestly don’t think that the Fed had any idea of the magnitude of what they were dealing with yet.

Sept 20: U.S. Bailout Plan Calms Markets, But Struggle Looms Over Details

The accompanying picture includes SEC Chairman Cox, Treasury Secretary Paulson and Fed Chairman Bernanke walking solemnly behind President Bush.  The “in process” treasury plan was revealed and was


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Zero Hedge

Iran Suffers Most Daily Death Toll Since COVID-19 Outbreak Began; NY Adds 3 More States To 'Mandatory Quarantine' List: Live Updates

Courtesy of ZeroHedge View original post here.

Summary:

  • NY releases latest numbers, adds 3 more states to quarantine list
  • Trump touts COVID-19 mortality rate improvement
  • GOP moves to test all convention attendees
  • Worker 'revolt' at University of Georgia
  • Beijing reports 8 foreign cases
  • South Korea reports 40+ new cases
  • Melbourne enters 6-week lockdown
  • India passes 700k cases
  • Iran sees record jump in deaths
  • South Africa tops 200k

* * *

Update (...



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Phil's Favorites

Up and Down

 

Up and Down

Courtesy of 

This stat from @SentimentTrader blew me away:

“The S&P 500 fund, SPY, has been up at least 0.5% for 5 straight days. That’s tied for the longest streak since its inception.”

I wasn’t taken aback because of how strong the markets have been recently, but that streak of five days sounded really small to me. I almost couldn’t believe it was right. But after looking at the data, the shock wore off.

The S&P 500 has gained >0.5% on 28% of all days (going back to 1993), so the likelihood of...



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Biotech/COVID-19

Is the COVID-19 pandemic cure really worse than the disease? Here's what our research found

 

Is the COVID-19 pandemic cure really worse than the disease? Here's what our research found

The economic impact of coronavirus restrictions can also take a human toll. mladenbalinovac via Getty Images

Courtesy of Olga Yakusheva, University of Michigan

The Research Brief is a short take about interesting academic work.

The big idea

The coronavirus pandemic catapulted the country into one of the deepest recessions in U.S. history, leaving millions ...



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ValueWalk

Error-Ridden PPP Data Show Taxpayer Funds Funneled to the Wealthy & Well-Connected

By Anna Peel. Originally published at ValueWalk.

Yesterday, the Trump administration released a limited collection of data about recipients of Paycheck Protection Program (PPP) assistance. The program has been rampantly mismanaged from the start, allowing big businesses and publicly-traded companies to exploit the program with little transparency or oversight. The data released yesterday has been riddled with errors, raising questions about the PPP’s integrity. All the while, actual small businesses – especially those run by people of color – have been left to struggle or close entirely.

Q2 2020 hedge fund...



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Kimble Charting Solutions

Here's Why QQQ and Large Cap Tech Stocks May Rally Another 10%!

Courtesy of Chris Kimble

The long-term trend for large-cap tech stocks remains strongly in place.

And despite the steep rally out of the March lows, the index may be headed 10 percent higher.

Today’s chart highlights the $QQQ Nasdaq 100 ETF on a “monthly” basis. As you can see, the large-cap tech index touched its lower up-trend channel support in March at (1) before reversing higher.

It may now be targeting the top of the trend channel at (2), which also marks the 261.8 Fibonacci extension (based on 2000 highs and 2002 lows). That Fib level is $290 on $QQQ.

If so, this upside target for $QQQ is still 10% above current prices. Stay tuned!

This article was first written ...



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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: Saturday, 14 March 2020, 05:51:16 PM

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Comment: Crash in perspective - its Bad, and not over!



Date Found: Saturday, 14 March 2020, 07:49:29 PM

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Comment: The Blood Bath Has Begun youtu.be/bmC8k1qmM0s



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The Technical Traders

Big Funds to Pull Money OUT of Stocks: 2nd Wave to Hit Economy

Courtesy of Technical Traders

TOPICS IN THIS INTERVIEW:

-Big funds to pull money out of markets.

-Falling dollar to really start to benefit gold

-Gold miners showing signs of life.

-$2,000 gold will change people’s mindsets in gold.

-Gold or silver-backed currency will send metals through the roof.

Get Chris Vermeulen’s Trades – Click Here

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Lee's Free Thinking

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

 

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

Courtesy of  

The COVID 19 pandemic is, predictably, worsening again in much of the US. Only the Northeast, and to a lesser extent some Midwestern states, have been consistently improving. And that trend could also reverse as those states fully reopen.

The problem in the US seems to be widespread public resistance to recommended practices of social distancing and mask wearing. In countries where these practices have been practi...



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Digital Currencies

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

 

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

App-etising? LDprod

Courtesy of Michael Rogerson, University of Bath and Glenn Parry, University of Surrey

Food supply chains were vulnerable long before the coronavirus pandemic. Recent scandals have ranged from modern slavery ...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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