Commodities also rallied this week -Coffee, Corn, Soybeans, Sugar, and Silver
New all time highs: AAP, AZO, AGG, CMI, CRM, DLTR, ED, FFIV, MCD, SLW.
New unemployment claims fell to 472,000 (chart).
This week, no banks were shutdown by the FDIC! (list).
Next week: Economic reports list. It is a short week, with the Labor Day holiday on Monday.
9 Option Trades for Labor Day
Market commentary: We never made it all the way down to the July low on the indexes (except for the Russelll 2000 -IWM). Instead, the market rallied three days in a row this week, breaking the short term down-trend, and starting September off with a bang.
Lets see if it continues through the month; we didn't get much volume on this rally. There is a good chance we will now head back up to the previous swing high of 1130 on the S&P500.
Gold & silver continue to move up.
Bonds sold off (chart below).
Commodities (charts):
Oil prices were mostly unchanged, closing near $75 per barrel.
Natural Gas recovered as I expected, closing just under $4.00.
Gold rallied, closing around $1249. We could see a new high next week.
The US Dollar index dropped, closing around 82.
The 30 year Bond fell as equities rallied, closing just under $133.
News:
The September Rally Continues!
Will the Stock Market Rally This Fall?
Stocks have worst August since 2001
Back to the Future for Dividend and Bond Yields
Could investors fleeing stocks become a lost generation?
Why the U.S. economy is weak
Seven lean years: No recovery till 2016
The Lost Decade Has Passed Us
SEC Declines to Sue Moody's Over Inflated Ratings
FDIC: 829 problematic banks in second quarter
Gold, silver forge ahead, post solid monthly gains
Gold Stocks - the Long-Term Perspective
Silver settles at two-year high; gold ends lower
J.P. Morgan To Shut Prop Trading Desks
Goldman to Close Prop-Trading Unit
Obama Marks Formal End of U.S. Combat in Iraq
Israel's Huge Oil and Gas Discovery
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