Stock Market Blog -Dec 25th MERRY CHRISTMAS!

Santa didn't forget us after all! We got a nice rally this week as we saw bonds drop. With any luck, the rally will continue into the New Year, before we head into earnings season. The ECB provided about $500 billion in low interest money to the Eurozone banks, helping to drive the rally. Third quarter GDP was revised down again, to 1.8%. Basically, the market has been flat for 2011, ending just about where it started.

New all time highs: ED, KOG, MCD, PETM, PM, ROST, TJX, V, XLP
All time lows: SDS, DXD, TZA -leveraged inverse Index ETFS

Pops & Drops: ORCL, BBBY, and RHT dropped after earnings; CRM broke support

New Unemployment Claims were down again, coming in at 364,000 (chart)
This week, no banks were shut down by the FDIC (list)

Next week: Economic reports  Holiday week -4 trading days, light volume.
Hurray! It's the last week of 2011.

Market Commentary

The SPY did dip back to the 120 level as I mentioned last week, then we got a nice rally. The chart of the SPY could be indicating an 'ABC' pattern which started after Thanksgiving, pulled back to 120, and now could continue up to near the 130 level, finishing off a nice rally. Bonds have dropped nicely too.

This week's charts:
GOOG -going back to $700?
AAPL -moving up
V -nice performer

GPC -nice performer
MCD -nice performer
ROST & TJX -discounters doing well!
RIMM -going to zero??

Commodities (charts):
Oil prices rallied, closing just under $99.68
Natural Gas was unchanged, closing near $3.11
Gold was mostly unchanged, closing near $1606
The 30 year Bond futures dropped, closing near $141.97
The US Dollar was mostly unchanged, closing near 80.24

NEWS:
Santa rally may face test next week
Jobless Claims Drop, but 3rd-Quarter Growth Is Revised Down
Dollar selling likely next week on year-end adjustment
Interbank Markets Are Telling Investors To Sell The Rally ... Again
Paulson Fund Loses 46% in 2011 Through November

My Top 10 Stock Predictions For 2012 And Some Options Plays 
Last U.S. Troops Leave Iraq
U.S. Poised To Retake Status As Net Oil Exporter 
Banks gorge on ECB loans, market cheer short-lived
Automaker Saab files for bankruptcy