Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Buzz on the Street: All News Is Good News for This Market

By

A look back at the happenings on Wall Street this week, as seen by Minyanville's Buzz & Banter.

PrintPRINT
Thursday, November 14, 2013

Crosswords
Peter Atwater


As if out of nowhere, the phrase "income inequality" now seems to be everywhere.

Below is a chart I showed clients last week that highlights how "income inequality" correlates to economic confidence.

Not since the weak economic confidence days of Occupy Wall Street have we seen such a strong surge in "income inequality." As someone who studies the correlations of human behavior with confidence, the connection is not at all surprising. As confidence falls, perceived inequities of all kinds come the surface.

I would be careful to assume, though, that this is just a passing phase. Given that it has been an additional two years of weak confidence since we last saw this phenomenon, we could easily see a movement far more significant than Occupy Wall Street, particularly if mood falls sharply.

While I don't wish for it, given the clear breakdown in correlation between investor confidence and American economic confidence, something akin to Occupy Capitalism would not be at all surprising to me at this point.

Click to enlarge

APA Accelerates From a Big-Base Formation
Michael Paulenoff


I entered a 100%-long position in Apache (NYSE:APA) this morning at 91.33 into strength in the aftermath of yesterday's key-upside reversal day, 88.84-90.89, which triggered new-buy signals in my intermediate-term pattern work.

You can see on the daily chart that APA is starting to accelerate to the upside from a near 2-year base formation, which projects next to 94.00 and to 98.00, thereafter, possibly on the way to 105-110 several months from now.

Only a sudden-downside reversal that breaks and closes beneath 88.85 will compromise my currently constructive outlook.


Click to enlarge

No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE