Stock Market Blog -Oct 28th

After a big week for earnings reports, the market dropped further, maybe signaling a new downtrend. Oil and Gold also dropped. We got a better than expected GDP report as well.

Much to everyone's surprise, AAPL never rallied prior to their earnings release, and actually dropped after reporting on Thursday. So far AAPL stock has lost around $100 since the iPhone5 launch. Lots of AAPL 'Call' options expired worthless on Friday.

Meanwhile EXPE, PCLN, FB, and AMZN rallied.

New all time highs: CMCSA, COG, N
All time lows:
Pops: FB, EXPE
Drops:  BBY, CLF, DD, DECK, FFIV, MNST, RF, SHW, UA

AAPL -4 weeks of declines (post iPhone5 top)         -this week, 5th week down!

Next week: Economic reports  Monthly jobs report on Friday!!

Earnings reports next week:
Mon: L, CRUS
Tue: F, CMI, PFE, VLO
Wed: MA, V, PSX, GM
Thu: NEM, SBUX, , XOM, CHK, K
Fri: CVX

Market Commentary

Earnings reports next week will again drive stock prices, but last week was the big one. Support might hold at 1400 on the S&P500, and we could see a small bounce from there, with the market being a little oversold. The Jobs report on Friday could also be a catalyst.

This week's charts:

Weekly Unemployment claims
S&P 500 -heading down further?
OptionsMakeSense

Biotechs broken...

Commodities/Futures (charts):
Crude Oil dropped, closing near $86.28
Natural Gas dropped, closing near $3.40
Gold dropped, closing near $1711
The 30 year Bond was up, closing near $148
The US Dollar was up, closing near 80.16

NEWS:
Apple earnings fall short: Has the company topped out?
Wall Street, political world await jobs report
UBS to Cut Up to 10,000 Jobs
Bank of America sued for alleged mortgage fraud
Oil Prices Retreat to Near $85 a Barrel Thanks to Plentiful Supply
U.S. May Soon Become World's Top Oil Producer
U.S. New-Home Sales Rise to Highest in 2.5 Years

Stock Market Blog -Oct 21st

The market was up earlier in the week, but dropped on Friday. Earnings disappointments from IBM, INTC, CMG, MCD, and GOOG contributed to the selling pressure.The Technology sector has been hit hard lately. We could see the 'up-channel' formed since June, start to break down here.

 
New all time highs: ?
All time lows: CARB, DANG, ZIP
Pops: TRV
Drops:  AMD, ALGN, CMG, FTNT, GOOG, IBM, MCD, MLNX, MRVL

AAPL -4 weeks of declines (post iPhone5 top)

Next week: Economic reports  5 central Bank meetings next week, including the US Fed...

Earnings reports next week:
Mon:  CAT, FCX, YHOO, TXN,
Tue: AMGN, FB, DD, MMM, NFLX, PNRA, UTX, UPS
Wed:  BA, BMY, LLY, T
Thu:  AAPL, AMZN, COG, COP, CL, EXPE, MO, BIIB, PG, POT, S, UA,
Fri:  MRK

Market Commentary

Earnings reports next week will again drive stock prices. The S&P 500 did in fact put in that double top I mentioned last week (it actually turned into a triple top). We could see more downside action, with support in the 1400 to 1400 area for the S&P 500. The NASDAQ looks much weaker, though it is also near a support level. All eyes are on AAPL as they report earnings on Thursday, and announce the iPad Mini on Tuesday. AAPL has dropped almost 100 points since its high of around $705. Also, Microsoft is launching Windows 8 next week

This week's charts:

Weekly Unemployment claims
S&P 500 -sideways channel now
OptionsMakeSense

Health Care -double top?

Commodities/Futures (charts):
Crude Oil was down, closing near $90.05
Natural Gas was mostly unchanged, closing near $3.62
Gold dropped a bit, closing near $1724
The 30 year Bond dropped, closing near $147.56
The US Dollar was mostly unchanged, closing near 79.69

NEWS:
Wall Street Week Ahead: Investors face earnings blitz with dread
Can the Market Hold On Amid Wave of Falling Profits?
U.S. Jobless Claims Rise 46,000 on Seasonal Shift
Apple's iPad mini: What to expect
Year of the electric car blows a fuse
Remembering the Crash of '87

Stock Market Blog -Oct 14th

The market gave back all of its gains from the prior week, and looks like it may have put in a double top. AAPL and AMZN were also weak. Bonds rallied as stocks dropped. JPM reported good earnings, but the market yawned. Next week we get a few more large companies reporting, including GS, GOOG, IBM, and KO.

New all time highs:   CAG, LQD, PFF
All time lows: 
Pops: YUM
Drops:  AMD, EW, OCZ, PHK

Next week: Economic reports -OPTIONS EXPIRATION on Friday!
Earnings reports next week:
Mon: C
Tue:  GS, IBM, INTC, ISRG, KO, JNJ, UNH
Wed: AXP, BAC, BK, EBAY, PEP
Thu: AMD, CMG, COF, GOOG, MS, MSFT, VZ
Fri:  GE, MCD, HON

Market Commentary

More earnings reports next week will help to drive stock prices. The S&P 500 looks like it put in a double top, so we could see more downside action. Keeping an eye on AAPL too, for a rebound.

This week's charts:

Weekly Unemployment claims
S&P 500 -earnings next week!
OptionsMakeSense

Commodities/Futures (charts):
Crude Oil was up, closing near $91.86
Natural Gas was up, closing near $3.61
Gold dropped a bit, closing near $1758
The 30 year Bond rallied, closing near $149.56
The US Dollar was up, closing near 79.74

NEWS:
Cramer’s Earnings Preview for Next Week
U.S. sues Wells Fargo for mortgage fraud
Global Economic Distress 3.0 Looms as Emerging Markets Falter
Gross's Burning Bond Market Fails to Frighten Investors

Stock Market Blog -Oct 7th

The market rallied again this week, continuing the up-channel which started in June. Bonds sold off, and so did Oil. Also AAPL (a concern for many investors). HPQ dropped further after some not so good news. Likewise, CMG and ZNGA. The jobs report on Friday sparked a rally, but gave up most of it by the end of the day  -not a good sign.

New all time highs:   ACN, CMCSA, ABT, CVS, COV, DFS, ESRX, GOOG, IBM, OCN, PM, RAX, STZ, V, WMT, WPI, WFM,
All time lows:  ZNGA
Pops:  NFLX, OCN, AVP
Drops:  CMG, HPQ, MCD, ZNGA

Next week: Economic reports 
Earnings reports next weeka
Mon:
Tue: AA, YUM
Wed: COST
Thu:
Fri: JPM, WFC

Market Commentary

Earnings reports begin next week, with JPM and WFC reporting on Friday -I expect Financials to continue the rally with support from the Fed's QE3 program. AAPL continues to be weak and holding the rally back a bit (forming a head & shoulders pattern maybe). GOOG on the other hand is hitting all time highs, so there is some divergence in the market. Biotech (IBB) continues to fire on all cylinders! Homebuilders (XHB) and HD also continue to do well. Also Healthcare (XLV). The market rally continues until it stops -let's see if earnings reports will spoil the party.

Some stocks are still very 'overbought' like GOOG, HD, DIS, WMT, etc.

This week's charts:

Weekly Unemployment claims
S&P 500 -another turning point, or a breakout next?
OptionsMakeSense

Commodities/Futures (charts):
Crude Oil dropped, closing near $89.88
Natural Gas rallied, closing near $3.40
Gold was mostly unchanged, closing near $1779
The 30 year Bond dropped, closing near $147.50
The US Dollar was up, closing near 79.43

NEWS:

Wall Street Week Ahead: Big-name profit warnings may mean a pullback
Yum, Costco, JPMorgan Trump Alcoa Earnings This Week
Apple Inc (AAPL) Insiders Are Selling
Android Leads the Apple Inc (AAPL) iPad in Tablet Market, Report
Google Passes Microsoft’s Market Value as PC Loses to Web 

No Joy on Wall Street as Biggest Banks Earn $63 Billion
Shorting U.S. Bonds Is Still Trade of the Decade
America’s Export Surge Is Just Beginning
Iran’s Currency Crisis: Bad News For Mahmoud Ahmadinejad
How Does a Currency Drop 60% in 8 Days? Just Ask Iran