Stock Market Blog -Aug 29th

The DOW closed below 10,000 on Thursday this week, but recovered on Friday. The market is still in a downtrend, with all sectors down for the month (see chart below).

New all time highs: DLTR, MCD, PAR, INTU, CRM, EGO, SLW,

New unemployment claims fell back below the 500,000 level to 473,000 (chart).
This week, no banks were shutdown by the FDIC! (list).

Next week: We get the usual Economic reports, along with the widely watched, monthly jobs report on Friday (week ahead)

Market commentary: Looks like we could still drop down to test the early July low, though we saw a nice rally on Friday. We'll need to see some follow-through to get bullish again. The jobs report on Friday could finally help push the market into a new trend.

Bonds continue to rally!

Commodities (charts):
Oil prices were up, closing near $75 per barrel.
Natural Gas plunged, closing under $3.70; we could see a bounce next week.
Gold rallied, closing around $1237.
The US Dollar index was mostly unchanged, closing around 83.
The 30 year Bond rallied again, but dropped back down to around $134.

News:
U.S. economic growth slows to 1.6% in second quarter
Debt crisis just beginning, Morgan Stanley says
Intel cuts sales forecast citing weaker consumer PC market
Foreclosures drop, but new delinquencies rise
Existing-home sales plunge 27.2%
New-Home Sales Plunge 12.4% to All-Time Low in July
Housing's new nightmare

Fed ready to take 'unconventional measures'
Big investors go for gold, bonds
The Looming Battle for the Future of Mobile Devices

Stock Market Blog -Aug 22

Another down week in the market, as weekly jobless claims came in higher than expected, now back at 500,000! Energy and Financials led the way down this week, while Bonds rallied again.

Earnings season is pretty much over now, and so is the summer! September is just around the corner and so we'll see what's in store for the fall.

CRM, INTU, and MRVL surged this week.
MFE and POT also surged on takeover news.

New all time highs: AAP, AZO, BIDU, CRM, FDO, INTU, MCD, MO, PCLN
Also AGG, LQD (bonds), and AZK, EGO (gold)

ISRG and SHLD dropped.

New unemployment claims were up again, coming in at 500,000 (chart).
This week, eight more banks were shutdown by the FDIC! (list).

Next week: We get the usual Economic reports, including GDP and Consumer sentiment. Companies reporting earnings next week include BHP, JDSU, MDT,and NOVL. More Bond sales next week too.

Market commentary: We could continue to see more selling all the way back down to the early July low. There is still no clear direction at this point. If I were to guess, I think we might get an oversold bounce next week.

Bonds continue to rally!

Commodities (charts):
Oil prices dropped, closing near $74 per barrel.
Natural Gas dropped again, closing around $4.1.
Gold rallied, closing around $1227.
The US Dollar index was mostly unchanged, closing around 83.
The 30 year Bond rallied again, closing around $134.

News:
Dow and S&P Down for Second Week, NASDAQ Up
Weekly Jobless Claims Post Surprise Jump, Hit 500,000
It's doom and gloom all over again
US Says Bankruptcies Reach Nearly 5-Year High
A roster of dividend-paying stocks to consider

401(k) withdrawals spike
The age of no more tears investing (Bonds)
Treasury yields reach new lows on flight to safety
China Cuts Long-Term Treasuries By Most Ever as Yields Drop
China Passes Japan as Second-Largest Economy

Stock Market Blog -Aug15 th

The market dropped this week after the Fed meeting on Tuesday. The trade deficit numbers were also disappointing.

CSCO plunged after reporting earnings

New all time highs: BIDU, FDO, MO, MCD, NFLX
New all time lows: DRL


New unemployment claims were up again, coming in at 484,000 (chart).
This week, another bank was shutdown by the FDIC! (list).

Next week: We get the usual Economic reports, along with more earnings reports. This is also options expiration week. Some of the companies reporting earnings:

MON	TUE	WED	THU	FRI
LOW	HD	TGT	HPQ
	WMT	AMAT	DELL
			SHLD

Market commentary: We got a sell-off this week as the market hit resistance at the 1130 level on the S&P500 (prior mid-June top). We could see more selling all the way back down to the early July low, or the market could surprise everyone and reverse course this option expiration week! There is no clear direction at this point.


Commodities (charts):
Oil prices dropped, closing near $75 per barrel.
Natural Gas was mostly flat, closing around $4.3.
Gold rallied, closing around $1215.
The US Dollar index rallied, closing around 83.
The 30 year Bond rallied again, closing just over $132.

News:
NASDAQ Logs its 4th Worst Week of the Year
Stocks Slide, Treasuries Rally on Growth Concern
High Probability for Lower Market Prices Ahead
Big Week Ahead for Retail Traders?
Junk bond market hits record
New 30-yr auction at lowest yield since March 2009
Bonds Sneeze, but Is It Contagious?

U.S. Is Bankrupt and We Don't Even Know It: Laurence Kotlikoff
U.S. "Virtually Certain" To Fall Into New Recession: Rosenberg
GM Profit Rises to $1.54 Billion, Plans IPO Up to $16 Billion
The numbers don't lie: Mobile devices overtaking PCs
Android poised to be No. 2 smartphone OS worldwide
Fannie and Freddie must die

Stock Market Blog -Aug 8th

The market rallied nicely on Monday, but was flat for the rest of the week. The jobs report on Friday was a disappointment and the market sold off , though it recovered most of the losses near the end of the day on Friday.

The US Dollar continues to head further down.
Gold closed back above $1200 on Friday.

PCLN surged on earnings

New all time highs: AGG BIDU CTSH CRM CMI ED HAS FFIV FDO MCD MO & others...

New unemployment claims were up again, coming in at 479,000 (chart).
This week, another bank was shutdown by the FDIC! (list).

Next week: We get the usual Economic reports, along with more earnings reports. Some of the companies reporting earnings:

MON	TUE	WED	THU	FRI
	CREE	BHP	NVDA
	DIS	CSCO	RGLD

Market commentary: The market will probably react to more earnings this week, though the number of reports is starting to taper off. Of significance is a Fed meeting on Tuesday, which could be a catalyst for the next move in the market.

I'm still of the opinion that the market wants to move higher from here. The S&P500 needs to get through resistance of around 1130...

Commodities (charts):
Oil was up a bit closing near $81 per barrel.
Natural Gas sank down to close at $4.46.
Gold rallied back up, closing around $1203.
The US Dollar index was down again, closing around 80.50
The 30 year Bond rallied again, closing just over $129.
'Wheat' has rocketed up for the past month!

News:
Dow Rises for Third Consecutive Week
S&P 500 clears major resistance without volume
Unemployment Duration Far Surpasses Levels Seen in Early 1980s
Discouraging news from payrolls report
H-P CEO Hurd resigns after sexual harassment probe

Home ownership falls to lowest level in 11 years
Why Bonds Tell a Better Story Than Stocks
Dollar near bear market territory
Is the party about to end in Brazil?
Shale: The Good News On Energy