Stock Market Blog -April 29th

The DOW is back over 13000! We got a nice rally this week, helped along by AAPL and AMZN after they reported earnings. GDP numbers were weak, Unemployment numbers were weak, and Spain was downgraded, but that didn't seem to  matter to the market. Britain is also reported to be in a recession again!

Lots of stocks with new all time highs though. Lets see if the market can get through, and stay above the previous high of April 1st. The DOW is almost there already.

Natural Gas finally showed some signs of life this week.
MDRX plunged on massive volume!

New all time highs:   AAP, CF, DG, DISCA, DKS, DLTR, EL, EQIX, EXPE, FDO,  LTD, KMB, MO, ORLY, SBH, SWI, PM, SPG, TJX, V, WPI, ...
All time lows:  FSLR
Pops: AAPL, AMZN, EXPE, CTXS, ECA, NUAN, REGN, SWI...
Drops: DECK, MDRX, NFLX, SBUX

Next week: Economic reports  Monthly jobs report on Friday!
Earnings season continues next week. Among the companies reporting are:

 ABX, BIIB, BP, CHK, CMI, EL, GM, PFE, PCLN, MA, V

Market Commentary

Earnings reports are winding down now so we'll need a new catalyst for the market. Maybe Europe. The  SPX did close above the 1390 level that I mentioned last week, and will likely move up to re-test the prior high of April 1st., so 'longs' should be OK for a while. Watch out for Friday's monthly jobs report too.

This week's charts:
Weekly Unemployment claims
S&P 500 -back to the previous high?
DECK -high fliers always come back down
OptionsMakeSense -trade ideas

The 2009 rally is alive and well

Commodities/Futures (charts):
Oil prices were up, closing near $104.93
Natural Gas was up finally, closing near $2.19
Gold was up, closing near $1665
30 year Bond futures were up, closing near $142.72
The US Dollar was down again, closing near 78.76

DBA -Agriculture/Commodities fund (approaching a buy?)

NEWS:
GDP Disappoints, but Stock Futures Rise!
Wall Street Bulls Will Battle Europe and the Economy
Wall St Week Ahead: In battle of the S&P, can bulls gain the edge?
Why the Amazon Naysayers Should Be Scared
Priceline Will Beat Apple And Google To $1,000
Farcebook: A Stratospheric Valuation
Chesapeake tangle goes far beyond CEO

The Fed Is Stuck
Claims for unemployment benefits are stuck near 3-month high
Dreaded IPO-crash signal flashes bear warnings
Natural Gas Has Nowhere To Go But Up
Double-Dip Recession in Britain
China’s property boom has peaked, forever
Three Reasons Japan’s Economic Pain Is Getting Worse