Stock Market Blog -Jun 27th

The market sold off again this week. Disappointing home sales helped push the market down (worst sales report since the 60s!). Also, the big financial regulatory reform bill was completed by Congress on Friday. Hooray for nothing!

RIMM sold off after reporting earnings.

New all time highs this week: AGG, LQD -everyone is flocking to bonds!


Fannie & Freddie were finally de-listed this week!


New unemployment claims fell this week, coming in at 457,000 (chart).
This week, three more banks were shutdown by the FDIC! (list).

Next week: We get a number of Economic reports, along with earnings from MU, GIS, and MON. The big event will be the May employment report on Friday. Next week also marks the end of the second quarter.

Market commentary: We got the pullback this week, though much more than I expected. The market might be headed all the way back down to the 'flash crash' lows again! Friday we get the jobs report, and next month we begin earnings season again. Hopes for a rally are fading.

Commodities:
Oil prices were up, closing near $79 per barrel.
Natural Gas closed around $4.90.
Gold closed near an all time high around $1256.
The US Dollar index continued to drop, closing around 85.5
The 30 year Bond continued to rise, closing just over $125, and pushing long term rates lower.

News:
Stocks: Closing out a rough first half
For investors, the future is on hold
New-home sales plunge 33% to record low in May
Fed Downgrades Outlook on Economy, Housing
Shale Game
Android Phones Burying Blackberry, Not iPhone

Building a Fixed Income portfolio with ETF’s
Why Leveraged ETFs All Go to Zero
Direxion Will Execute A 1-for-5 Reverse Split On These 3X Leveraged ETFs

Stock Market Blog -Jun 20th

Happy Father's day to all! The market was up again this week though most of the gains came on Tuesday. Best Buy shares fell after reporting earnings on Tuesday; so did Fedex. AAPL broke out to a new all time high, as did Gold.

New all time highs this week: AAPL, ABC, EGO, GLD, NEM, NFLX, GIS


New unemployment claims rose this week, coming in at 472,000 (chart).
This week another bank was shutdown by the FDIC! (list).

Next week: We get a number of Economic reports, along with earnings from ADBE, BBBY, NKE, ORCL, PALM, RIMM, and WAG. The Fed also meets next week. And the G-20 meeting is also on next weekend.

Market commentary: We did get the rally I mentioned last week, and I expect it to continue for a while, maybe after a brief pullback. We are approaching the end of the quarter, which might also help support a rally. One more catalyst might be the Fed meeting on Wednesday. Yet another is China's decision this weekend to ease the yuan's peg to the dollar.

Gold continues to rally too. I'm seeing green!

Commodities:
Oil prices were up, closing just over $77 per barrel.
Natural Gas closed around $5.00.
Gold prices hit another new all time high, closing around $1258.
The US Dollar index continued to drop, closing around 86; this may keep the stock rally going.
The 30 year Bond closed around $124.

News:
Stretching the market rally
China unleashes global rally by unchaining yuan
China to ease yuan-dollar peg; any weakening to be gradual
Stocks, Commodities, U.S. Futures Surge as China Ends Yuan Peg to Dollar
U.S. Treasuries face test from China's yuan move
Reading the Bond Bubble's Pressure Gauge
Cost of Seizing Fannie and Freddie Surges for Taxpayers
Mortgages: underwater and delinquent
ETFs Gone Wild
Gold's 30% Surge Puzzles Bernanke

Stock Market Blog -Jun 13th

The market might have hit a bottom this week as it rebounded from Tuesday's lows. The chart below shows all green for the sectors in the S&P500 this week. We'll see if there is any follow through next week. Friday saw a disappointing retail sales report for May.

New all time highs this week: GLD NFLX CRM ESRX
All time low: GAME

New unemployment claims fell this week, coming in at 456,000 (chart).
This week another bank was shutdown by the FDIC! (list).

Next week: We get a number of Economic reports, along with earnings from BBY and FDX. Also Friday is 'triple witch' expiration day for Options and Futures for the second quarter. The market can be unpredictable during quarterly expiration week.

Market commentary: We may have seen a double bottom in the S&P500 this past week, and with sentiment so negative, I expect we could see the market rally some more next week (contrarian view). The US dollar may have topped out for now, which would also support a move up in stocks.

Commodities:
Oil prices were up, closing around $74 per barrel.
The Natural Gas rally held up, closing around $4.80.
Gold prices hit a new all time high, but fell back to around $1229.
The US Dollar index may have topped for now, closing around 87.
The 30 year Bond dropped, closing around $124.

News:
Dow posts 1st weekly gain in a month
The 11-Year Itch: Still Stuck at Dow 10000
How to lose money: Buy banks
Time for investors to wait and watch
Are bonds pricing in another panic?
AN INVERTED DEATH CROSS IN INVESTMENT GRADE CREDIT
Wasn't commercial real estate supposed to crash?
Presidential Spending: Expenditures by Year
Google dumps Windows...