Stock Market Blog -Oct 31st

The market was mostly flat this week, though some 'hot' stocks continued to perform well -CMG, FFIV, IBM, PCLN, SLW, etc. October now makes two months of strong gains in the market. The GDP report on Friday however showed that we are still going nowhere in the economy.

New all time highs: AAP, AZO Auto parts! AGN, BVN, BWA, DECK, DTV, FFIV, IBM, INTU, KMX, MO, ORLY

All time low (inverse market index): QID

Highest-Yielding S&P 500 Stocks

New unemployment claims for the week dropped again, to 434,000 (chart).
This week, no banks were shut down by the FDIC! (list).

Next week: (Economic reports link). Big week -Elections on Tuesday, Fed on Wednesday! Earnings season continues, with the following companies among those reporting:

Mon	BHI, GLW
Tue	ADM, BP, CLX, COCO, MA, NEM, PRGO, PFE, TEVA,
Wed	QCOM,
Thu	DTV, KFT, SBUX,
Fri	AMT, DISH, TM

Market commentary: The market is stalled until after the elections and the Fed meeting next week. The direction of the market won't be known until we get past those events. We could see a move in the US Dollar which will affect both the equity and the commodity markets.

The S&P500 could move up to the prior April high of around 1220.

Commodities (charts):
Oil prices were mostly unchanged, closing near $81 per barrel.
Natural Gas popped, closing around $4.00.
Gold recovered some losses, closing around $1357.
The US Dollar index was mostly unchanged, closing around 77.45.
The 30 year Bond was down slightly, closing near $131.

News:
Stocks Flat With Elections, Fed on Tap Next Week
Next Week’s Must See Earnings On Deck
Biggest Week of Year for Markets Could Bring More Volatility
Stocks, Commodities Gain in October as Treasuries Decline, Dollar Weakens
GDP rises 2% in third quarter on consumer spending
Record-low mortgage rates will be gone in 2011: MBA

QE2 a ‘Ponzi scheme’, says Pimco’s Gross
JPMorgan, HSBC Accused of Manipulating Silver Futures
Gold Will Outlive Dollar Once Slaughter Comes: John Hathaway
The Fed is fuelling the catastrophe of fast rising raw material prices
We're All Currency Traders Now

Stock Market Blog -Oct 24th

The market was mostly flat this week, as companies began to report earnings for the 3rd quarter. AAPL, IBM, VMW, and ISRG dropped a bit. AMZN, BIDU, EBAY, NFLX, GS, KO, and MCD, moved up. CMG was a big winner, BAC was the big loser.

The US Dollar gave back some of its earlier gains. Watch for possible action in the dollar after this weekend's G-20 summit.

New all time highs: AMZN, BIDU, MCD, MO
PCLN hit a new 2 year high.
New all time lows: Same as before! The leveraged index ETFs.

New weekly unemployment claims dropped to 452,000 (chart).
This week, seven more banks were shutdown by the FDIC! (list).

Next week: (Economic reports link). GDP is among the economic reports due next week. Also, earnings season continues, with the following companies among those reporting:

Mon	AMGN, TXN
Tue	CMI, DD, F, X, BRCM, FFIV,
Wed	COP, DB, ODP, ESRX, GG, PG, V
Thu	ABX, MMM, XOM, EGO, MSFT
Fri	CVX, MRK,

Market commentary: No change in the market's upward trend. I continue to believe the market will probably turn down when the US dollar starts to rebound, which could be soon.

Commodities (charts):
Oil prices were mostly unchanged, closing near $81 per barrel.
Natural Gas dropped again, closing at a new low around $3.33. No bottom yet!
Gold dropped and broke its upward trend, closing around $1328.
The US Dollar index was up a bit, closing around 77.60.
The 30 year Bond was up slightly, closing near $132.

News:
Stocks end day mixed, slightly higher for week
China hikes interest rates
Yields on 30-Year Treasuries Rise Most in 14 Months on Inflation Prospects
Earnings to take spotlight next week
Foreclosures: Next shoe to drop for banks?
AIA’s IPO pricing boosts AIG turnaround plan
Mortgage Mess: Shredding the Dream
How the Foreclosure Fiasco Threatens the Economy

The amazing Amazon stock bubble
Gold-miner ETF fails to break 2008 peak
Coca-Cola 3Q net income rises 8.4 percent
Wells Fargo earnings top expectations
Bank of America Reports $7.3 Billion Loss, Citing Charges
The nation tires of Wall Street ‘justice’
The dollar disaster in one picture

Stock Market Blog -Oct 17th

This was another 'up' week for the market. After reporting earnings, INTC, JPM, and APOL sold off, but GOOG rocketed up $60! Financials were weak on concerns regarding foreclosures (BAC, COF, etc).

New all time highs: AAPL, AMZN, AAP, CTSH, MCD & YUM, MO, GLD & SLV & SLW
New all time lows: QID, SDS, TZA -leveraged market indexes!

New weekly unemployment claims rose to 462,000 (chart).
This week, three more banks were shutdown by the FDIC! (list).

Next week: (Economic reports link). Earnings season gets in to full swing, with the following companies among those reporting: (expect market volatality)

Mon	AAPL, IBM, C, HAL, PBR, VMW
Tue	BAC, KO, GS, JNJ, EMC, ISRG, YHOO
Wed	BA, BLK, MO, NFLX, UTX, WFC
Thu	AMZN, AXP, BIDU, CAT, MCD, MS, FCX, T, TRV, UPS,
Fri	F, VZ

All eyes are on AAPL, due to report on Monday.

Market commentary: The market continues to rally, so stay with the trend until it shows a definite turn. This will probably come when the US dollar reverses its decline. Maybe this week?


Of the major indexes, the 'technology laden' Nasdaq 100 (QQQQ) is the only one that has taken out the April top (see chart below).


Commodities (charts):
Oil prices dropped, closing near $81 per barrel. We may be at a top here.
Natural Gas dropped again, closing at a new low around $3.50. We may be at a bottom.
Gold hit all time highs once again, closing around $1371. Getting close to a top!
The US Dollar index was down, closing around 77.25. Getting close to a bottom!
The 30 year Bond dropped, as stocks went up, closing just over $131.

Silver prices also rocketed up this week.
Commodity prices continue to rise as the US Dollar falls.

News:
U.S. stocks end mostly up after Google earnings
Google tops $600 a share
Core prices lowest in decades as CPI edges up
Apple earnings expected to blow out on iPhone

Mozilo settles Countrywide fraud case at $67.5 million
Fixed-rate mortgages fall to record low
In charts: Foreclosures, inflation and more
49-year core inflation low
Deficit tops $1 trillion second year in a row
Social Security benefits won’t rise in 2011
Know when to dump a losing fund

Stock Market Blog -Oct 10th

The market rallied again this week, though some tech stocks saw surprising declines (EQIX, VMW, CTXS, CRM, FFIV, etc.).

The much anticipated jobs report on Friday was a disappointment, but the market held up, with the DOW closing just over 11,000. The unemployment rate remained at 9.6%. Meanwhile, the US dollar continued to slide.

The Yen and the Euro continue to gain against the US dollar.

New all time highs: IBM, MO, NKE, YUM
All time lows: DXD, SDS, TZA, QID -leveraged market indexes!

New unemployment claims fell to 445,000 (chart).
This week, no banks were shutdown by the FDIC! (list).

Next week: (Economic reports link). Earnings season kicks off once again with the following companies reporting: INTC, GOOG, JPM, GE

Market commentary: The market continues to rally, though many traders continue to try to put on short positions. Until we see a real turn on the charts, the 'long' traders will win out over those that are short! Maybe after options expiration this week?

The US dollar decline has been driving some of this rally, and is becoming extended on the down-side. Keep your eye on the dollar; also keep your eye on bonds, which have been rising with stocks -this is the opposite of the normal correlation.


Commodities (charts):
Oil prices were up, closing near $83 per barrel.
Natural Gas dropped again, closing around $3.60.
Gold hit all time highs again, closing around $1344.
The US Dollar index continued down, closing around 77.50.
The 30 year Bond was up, closing just over $134.

News:
U.S. stocks rally; Dow closes above 11,000
Jobs Drop by 95,000 in September, Unemployment Rate Unchanged
Unemployment claims drop for 4th time in 5 weeks
Consumer bankruptcy filings climb 11%
Equinix Stock Obliterated
Intel, AMD to kick off ‘choppy’ earnings season
Google seen reporting sharp profit, sales gains
It's official: Android is now the most popular smartphone OS
Gold hits new record after Japan cuts rates
Corn rallies to two-year high after crop forecast

Stock Market Blog -Oct 3rd

This week the market was flat, though we closed out the month of September with huge gains. Most people were expecting September to be a losing month. The US Dollar continued its decline, while Gold continued to rally. Oil was up as well.

GMCR and SAY prices plummeted this week!

New all time highs: GLD & SLV! Also CMI, CTSH, GDX, IBM, SLW, TTM, YUM.


New unemployment claims fell to 453,000 (chart).
This week, two more banks were shutdown by the FDIC! (list).

Next week: (Economic reports link). On Friday we'll get the all important monthly jobs report. Also earnings season kicks off once again with Alcoa reporting on Thursday.

Market commentary: The market seems to be stalling at these levels. Next week we start off a potentially volatile month and another round of quarterly earnings. We got a nice rally with the last round of earnings in July. Maybe we'll see a repeat performance. We've broken the downtrend channel that started in May, and it's possible we are now starting a new uptrend channel.

Options expiration in 2 weeks. The market could stay up and foil the bears again!

Commodities (charts):
Oil prices rocketed up, closing near $81.50 per barrel.
Natural Gas was mostly flat, closing just under $4.00.
Gold closed at an all time high again, around $1316.
The US Dollar index continued down, closing just over 78.
The 30 year Bond was up, closing just over $133.

Silver is at 30 year highs!

News:
Dollar Continues 4-Month Slide, Hits 6-Month Low Against Euro
Biggest Surprises This Quarter: Priceline Up 97%
Get ready for an epic bull market
How one automated trade led to stock market flash crash
Rates on fixed-rate mortgages fall
Corporations leveraging up at record pace
Banks Keep Failing, No End in Sight
Gold is the final refuge against universal currency debasement