New all time highs: BIDU, DTV, GMCR, NFLX, MO, YUM
...and the debt clock just passed the $13.5 trillion mark!
New unemployment claims fell again this week to 451,000 (chart).
This week, another bank was shutdown by the FDIC! (list).
Next week: Economic reports list. Friday marks options expiration for the 3rd quarter. Reporting earnings next week are ORCL and RIMM.
Market commentary: Looks like we 'are' heading back up to the previous swing high of 1130 on the S&P500 (see last week's commentary). This is options expiration week, also for the 3rd quarter, so expect anything. I believe the rally will continue. Bonds continued to fall.
Want to invest in a market that's going up? Take a look at EWM...
Commodities (charts):
Oil prices were up, closing near $76.50 per barrel.
Natural Gas was mostly flat, closing just under $4.00.
Gold lost some ground, closing around $1246. We could see a new high next week.
The US Dollar index was mostly unchanged, closing around 82.
The 30 year Bond fell again, closing just under $130.
News:
El-Erian Says Bond Inflows Bad Sign for Economy
The long road to deflation for stocks
Subprime 2.0 Is Coming Soon to a Suburb Near You
How GM Made $30 Billion Appear Out of Thin Air
Central Banks Leading New Gold Rush
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