Stock Market Blog -Feb 28th

After options expiration on the previous Friday, the market pulled back this week, then rallied back a bit on Friday. Bonds rallied too, along with Crude oil and Gold.

All time highs: APKT, CVX, DTV,
OVTI popped on earnings.
HPQ and WMT dropped on earnings.

New unemployment claims were back down to 391,000! (chart).
This week, another bank was shut down by the FDIC! (list).

Next week: (Economic reports link). Monthly jobs report on Friday -a potential market mover.

Market commentary: Well we did get the pullback I mentioned last week. Now that the 'bears' are all loading up, I expect they will be crushed once again as the market reloads in the coming weeks.

Commodities (charts):
Oil prices shot up, closing near $99 per barrel.
Natural Gas rallied on Friday, closing near $4.00
-yes it was a buying opportunity (posted last week)
Gold was up, closing near $1409.
The 30 year Bond was up, closing near $121'23.
The US Dollar was down again, closing near 77.25 -approaching a double bottom??

News:
Stocks: Jobs take center stage
Problem bank ratio at 23-year high
Fourth-Quarter GDP Revised Down to 2.8%
Sales of new homes fall a shocking 11.2%
Foreclosures make up 26% of home sales
Libyan chaos stirs global panic over oil supplies

Stock Market Blog -Feb 20th

The market rally continues. 'The trend is your friend' -so let's see if it continues. A pullback is way overdue in this market, so I'd be careful. The MDY continues to hit all time highs (Mid-caps), easily outperforming the Large-caps.

ARUN and DELL popped this week! Solar stocks popped too.
This was a strong week for the DOW stocks as well.

All time highs:

New unemployment claims were back up to 410,000! (chart).
This week, four more banks were shut down by the FDIC! (list).

Next week: (Economic reports link). Markets are CLOSED on Monday.
Companies reporting earnings include: HD, HPQ, LOW, TGT, WMT,

Market commentary: The rally continued this week, right into options expiration Friday. Next week we could see a pullback.

AAPL sold off on Thursday and Friday -keep your eye on this one. PCLN and NFLX sold off too, as did the auto parts companies (AAP, AZO, ORLY...).

Commodities (charts):
Oil prices dipped, then recovered, closing near $86.20 per barrel.
Natural Gas dropped again, closing near $3.85 -buying opportunity??
Gold was up, closing around $1388.
The 30 year Bond was up, closing near $119'07.
The US Dollar was down, closing near 77.66.
Hyper-caffeinated coffee prices hit 14-year high

Silver rocketed higher this week.

News:
U.S. Stocks Gain a Third Week as S&P 500 Rises to 32-Month High
Bulls on parade. Is rally getting ridiculous?
Wall Street looking to Wal-Mart
Sector Snap: retailers to post earnings next week
Junk bonds: Still a good bet

Green Mountain Commands Most Expensive U.S. Valuation: Real M&A
Intel to Build $5 Billion Arizona Chip Plant, Hire 4,000 in U.S. This Year
Borders files Chapter 11, to close 200 stores

Stock Market Blog -Feb 13th

Another week, another rally. This market has been in rally mode since last September, with only a small blip down in November (chart below). The mid-cap index continues to hit all time highs (MDY)! Also, lots of stocks hitting all time highs this week...

Earnings pops: DIS, JDSU, CMG, PNRA, TM, TTM

CSCO dropped after reporting earnings -also EXPE.

New all time highs: AAPL, BIDU, CAT, CMG, CLX, COST, DIS, EL, EMR, GMCR, ILMN, INTU, IWO, LULU, NFLX, OXY, RAX, ROST, TJX, UTX, XRT (retailers!)

New all time lows: QID, SDS, BGZ, TZA, etc -all the inverse index ETFs!

New unemployment claims dropped under the 400k level to 383,000! (chart).
This week, four more banks were shut down by the FDIC! (list).

Next week: (Economic reports link). Options expiration on Friday!
Also, earnings reports are starting to wind down. Companies reporting include:

Mon:
Tue: DELL
Wed: DE, NTAP, NVDA
Thu: ABX
Fri: CHK
Market commentary: The rally continues, with lots of options traders 'short' the market going in to expiration week. We could see more short covering again, driving the market even higher!

Could this be keeping the SPY up??

IWM is approaching the pre-crash high of 2007! QQQQ took out that high at the beginning of the year; likewise for the MDY, which continues to hit all time highs.

Commodities (charts):
Oil prices dropped, closing just under $87.60 per barrel.
Natural Gas dropped again, closing just under $4.00.
Gold was up, closing around $1363.
The 30 year Bond stabilized, closing near $118'13.
The US Dollar was up, closing near 78.5.

Copper, Cotton, and Sugar prices continue to escalate!

News:
A new high for the stock market?
How High (or Low) Could the Stock Market Go?
Apple's Mini 'Flash Crash' Today
Cramer: 20 Must-Watch Earnings Next Week
IMF calls for dollar alternative
Our dollar, China's $2 trillion problem
Good news. Yield ahead!
5 Ominous Signs the Bond Bubble Is Breaking

JDS-Who? The return of hot tech stocks
Amazon and EMC have their heads in the clouds
Nokia unveils Microsoft partnership
Corn’s rally feeds a ‘global food fight’
Indian stocks may see some relief
China raises rates to battle stubbornly high inflation

Stock Market Blog -Feb 6th

The market recovered from the previous week's drop, with the DOW closing above 12,000 and the S&P500 over 1300. The QQQQ and IWM seem to have hit a ceiling, maybe.

The monthly jobs report showed a miniscule increase in jobs, and the unemployment rate dropped to 9%. Market reaction was muted.

New all time highs:
IBM, CAT, UTX (DOW stocks), MDY (mid-caps)
CY, DLM, GMCR, LULU, NFLX, PETM, RAX, ROST, TJX, SINA,

New unemployment claims dropped to 415,000! (chart).
This week, three more banks were shut down by the FDIC! (list).

Next week: (Economic reports link). Next week we get more earnings reports, to include:

Mon:
Tue: TM, DIS
Wed: KO, CSCO
Thu:
Fri:

Market commentary: We saw a nice rally this week as earnings continue to come in. It's anyone's guess as to when this market might slow down! Bonds took a tumble this week. We continue to be very overbought, with divergence seen in both the Nasdaq 100 and the Russell Small-caps (RSI indicator).

Commodities (charts):
Oil prices dropped, closing near $89 per barrel.
Natural Gas was unchanged, closing near $4.30.
Gold was up, closing around $1348.
The 30 year Bond saw a huge drop! ...closing near $117'28.
The US Dollar was up, closing just over 78.

Soybeans, Corn, Wheat, Cotton were all up as well!
Surging prices lift cotton-futures ETN

News:
Stocks Turn Higher As Leaders Perk Up
What’s after Dow 12,000 and S&P 1,300?
Unemployment rate plunges, while job growth is weak. Huh?
Dollar rallies after ECB’s Trichet speaks
Louis Navellier's Market-Beating Stock Picks

Fed Holdings of U.S. Treasuries Surpass China's
CBO: U.S. budget deficit to hit $1.5 trillion
5 ETFs To Watch As China Grows
China's love affair with Apple