New 52 week highs: DUK, PGN
Drops: AMD, BIDU, FMCN, NFLX,
New unemployment claims were down again, coming in at 391,000 (chart).
This week, another bank was shut down by the FDIC!(list).
Next week: (Economic reports link). The monthly jobs report is due on Friday. Also, YUM reports earnings on Tuesday
| Market Commentary |
No real change in the outlook. Here is last week's comment: "The market dropped, and continues to trade in a range that started in early August. We are now at the bottom of that range again, and could turn back up next week. If we break down instead, we could see continued selling down to the 1050 - 1000 level on the S&P500!"
With any luck, we'll get another short bounce this week to kick off the new quarter, before we start to get earnings reports.
This weeks charts:
Bank of New York stock back to 2009 crisis level!
RIMM still dropping
BIDU approaching 100!
FXI -Bad year for China
Commodities (charts):
Oil prices were down, closing around $78 per barrel.
Natural Gas was lower, closing near $3.65
Gold was down, closing around $1627.
The 30 year Bond futures were up, closing near $143.
The US Dollar was up, closing near 79.50
News:
S&P 500 Declined 14% in 3rd Quarter
Looking for Market Bottom? There May Be Hope Yet
Many markets are deep in bear territory
It’s Going to Get a Lot Worse ...New Recession Unavoidable (video)
Goldman Sachs: Risks of a Recession are High and Rising
China’s Stocks Sink to April 2009 Low as Quarterly Losses Mount
Jim Chanos Is Still Short Chinese Banks, Property Developers
Investor Fear Over Morgan Stanley Sharpens
Kodak Hires Legal Adviser Amid Talk of Bankruptcy
Amazon Stock Up 3,500 Percent in Past Decade
Apple expected to up the ante with new iPhone
Posts
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