Stock Market Blog -Aug 4th

This week the market moved higher again (for no apparent reason?), while the 'new all time high' list keeps getting longer. GDP came in at a paltry 1.7% and Unemployment at 7.4% (the U-6 unemployment rate is still at 14%). Bonds sold off, and Oil rallied. The DOW eked out a new all time high, the S&P500 closed over 1700, while the VIX is about to hit multi-year lows once more. Nice time to book profits and stand aside for a while?

LNKD popped after reporting great earnings, and hit an all time high. FB is still moving higher after reporting 2 weeks ago!

New all time highs:   COP, EAT, FOXA, JNJ, KORS, LNKD, LTD, MELI, MYL, NOC, NKE, NWSA, QCOR, SBUX, TSLA, TJX, TSN, UTX, YELP, and more...

All time lows:  -- 

Pops & Drops:    LNKD, MA, MAKO, MELI,    Drops -POT, MOS

Hope you were on the right side of one of these!

Next week: Economic reports
Upcoming Earnings reports:   CVS, DIS, PCLN, TWX, TSLA

Market Commentary

 
The rally marches on. Stay long with a stop? Options are cheap, so you might consider buying Puts for insurance instead of using a stop. Earnings season is winding down now, so its back to news events to drive the market. We've had a nice ride up since Thanksgiving, so lets see what ths summer brings. you can use Option credit spreads or skewed Iron Condors to go short, or buy VIX Call spreads.

This week's charts:

S&P 500 -topping?
Weekly Unemployment claims
Labor Force Participation Rate (10yr chart)

Commodities/Futures (charts):
Crude Oil rallied, closing near $106.94 -still over $100.
Natural Gas was down, closing near $3.35
Gold was down, closing at $1310
The 30 year Bond was down, closing near $133.72
The US Dollar was up, closing near 81.98

NEWS:
Stocks rise despite weak jobs report; Dow, S&P set new record highs
The Very Worst Part of Today's Lousy Jobs Report
Want a job? Good luck finding full-time work
The four reasons why hedge funds are selling gold
It all goes back to bonds
Home flipping frenzy returns to Southland real estate market

Google unveils much-hyped 'Moto X'
Linn Energy: Many Ponzi-Like MLP Blow-Ups To Follow
Exxon Misses Estimates by Most Since 2002 as Refining Sinks
What to do with Facebook stock amid mobile gains
The $7 Trillion Problem That Could Sink Asia