Stock Market Blog -Nov 10th

The market dropped, then rallied back up the next day on a better than expected Jobs report. The Unemployment rate rose slightly to 7.3%. GDP also came in better than expected at 2.8%.

Twitter dropped a bit after its IPO high. AAPL seems to be stuck around the $525 level, while FB is still dropping from its peak in October. TSLA had a baaad week.

Gold dropped below $1300 again, and Bonds dropped as well.

New all time highs:    AMP, ABC, ENDP, MMM, PRGO, STZ
All time lows:  ... 

Pops:     Drops:  ANF, SCTY, TSLA, WEN, WFM 

Next week: Economic reports 

 Earnings next week:

Mon - RAX

Tue - DNDN

Wed - CSCO,  NTAP

Thu - WMT, A

Fri - 

Mortgage REITs: Last Chance to Exit?

Market Commentary

The market started to show signs of a breakdown, then recovered after the monthly Jobs report and GDP numbers.  Still, the S&P500 seems to be stuck in the 1770 range for the past two weeks, and the Small Caps (IWM) haven't  recovered from their recent sell-off. Earnings season is pretty much over, so look for news to drive the market over the next few weeks. Some of the recent leaders have started selling off as well. I'm leaning to the short side.

\This week's charts:

S&P 500 -holding up so far...
10yr Interest Rates
Labor Force Participation Rate (10yr chart)

Commodities/Futures (charts):
Crude Oil was mostly unchanged, closing near $94.60 -holding under $100
Natural Gas was mostly unchanged, closing near $3.56
Gold dropped, closing at $1284
The 30 year Bond dropped, closing near $131.75
The US Dollar was up, closing near 81.38

NEWS:

Stocks up on jobs; Dow ends at record high and S&P not far behind (video)
Bulls run to rescue the market — too late
Despite Mixed Headlines, Today’s Jobs Report is Still a Bummer
The odd October jobs report: The US government shutdown failed to shutdown the US economy
Economy grew 2.8% in the third quarter
Week ahead: Stocks ride tailwind, but watch for rising rates

Are we drowning in stocks?
Treasury vs. Fed: Who's right on the economy? (video)
PRECIOUS-Gold drops to 3-week low on ECB rate cut, US GDP
Gold Set to Plunge to Its Final Bottom