Stock Market Blog -Nov 27th

Another bad week in the markets as we saw continued selling every day. The Energy, Financials, and Materials sectors were the hardest hit. According to one headline, this was the worst Thanksgiving week for the S&P 500 since 1932! Oil and Gold dropped as well, though Bonds didn't rally as much as would be expected, considering the drop in stocks.

New all time highs: KMR ...not much in this market!

AMR, NFLX, and RIMM continue to sink lower...
Drops: FMCN

New Unemployment Claims were up, coming in at 393,000 (chart)
This week, no banks were shut down by the FDIC (list)

Next week: Economic reports
LULU, TIF, and other retailers report earnings next week.
The markets also eagerly await the monthly jobs report is due on Friday.

Market Commentary

Headlines in Europe still dominate, and based on the charts, we could drop back to the early October lows again! With any luck though, we'll get a relief rally. Not much to support any view on market 'direction' from here, other than the fact that we are oversold. Only 'traders' should be in this market until we get some sort of longer term trend going again.


This week's charts:
AMR -airline in trouble?
Gold 10 good years!

Commodities (charts):
Oil prices dropped, closing around $96.77
Natural gas was up a bit, closing near $3.54
Gold dropped again, closing near $1685
The 30 year Bond futures rallied as stocks fell, closing near $143.84
The US Dollar was up as stocks fell, closing near 79.83

NEWS:
S&P 500 Has Worst Thanksgiving Week Since ’32
Stocks: More 'fear, carnage and uncertainty'
Third-quarter growth revised down to 2.0 percent
FDIC: Bank earnings hit highest level in 4 years
Derivatives: The Worlds Biggest Margin Call And How To Play It

Super committee' fails to reach agreement
Could Bank Stress Tests Push US Back Into Recession?
Online sales surge 24% on Black Friday
Italian Bond Yields Doubled in Latest Bond Auction
German Bund Auction is Ominous Sign
S&P cut Belgium rating to AA

Stock Market Blog -Nov 20th

This week saw more selling as the uncertainty in Europe continues. I personally think we are headed for a 2008 style financial crisis in Europe -time will tell. Maybe we'll hold up at this support level on the S&P 500 (though the NASDAQ100 broke support today). Gold pulled back a bit, while Oil rallied to $103 then dropped right back down!

New all time highs: PM,
New all time lows: AMR, UNG,
Drops: ANF, CF, CRM, NTAP, RMBS

New Unemployment Claims were down, coming in at 388,000 (chart)
This week, two more banks were shut down by the FDIC (list)

Next week: Economic reports
Earnings season is winding down, with the following companies among those reporting:  HPQ, DE

Markets will be closed on Thursday for Thanksgiving. We await news from the Congressional Super Committee as well.

Market Commentary

We saw more weakness in the market this week, especially in the Nasdaq 100. Maybe some of it can be attributed to Options expiration, and certainly some of it was caused by weakness in the Euro (see chart below). We could get a bounce from all the selling last week, but not sure it will mean much. Europe headlines still dominate. Based on the charts, we should be at a support level here.


This week's charts:

 NASDAQ 100 hitting resistance all year!

Commodities (charts):
Oil prices spiked up to $103, then closed around $97.41
Natural gas dropped again, closing near $3.31
Gold dropped, closing near $1726
The 30 year Bond futures rallied as stocks fell, closing near $142.78
The US Dollar was up as stocks fell, closing near 78.25

NEWS:
Stocks: It's all about Italy, Spain and jobs
A Month’s Worth of … Nothing?
What Nasdaq weakness is telling us
DOUBLE STANDARD: Congress Can Legally Trade On Insider Information While Wall Streeters Go To Jail
A snapshot of the global smartphone market as of Oct. 1
7 reasons the Kindle Fire is better than the iPad

Fannie and Freddie Need Another $14 Billion, but Losses May Be Slowing
The weak euro: Look out below!
European bonds signal more pain ahead

Stock Market Blog -Nov 13th

Another choppy week in the markets, but holding above the 1225 support level on the S&P 500 (chart below). News in Europe continue to drive the markets, with Italy being in the headlines now. Next week we get earnings reports from most of the big retailers. Oil closed at $98.99, but hardly made the news!

New all time highs: COG, DUK, MA, AZO/ORLY, QCOR, SWI, TJX
New all time lows: UNG,
Pops: DIS
Drops: GMCR

New Unemployment Claims were down, coming in at 390,000 (chart)
This week, another bank was shut down by the FDIC (list)

Next week: Economic reports
Earnings season continues, with the following companies among those reporting:  DELL, HD, LOW, TGT, WMT

Market Commentary

We continue to be in a choppy market, but I also continue to think that the bias is to the up-side. However, bad news from Europe and a weak Euro could change that bias. Trade small and nimble till we get a trend going again in this market.

This week's charts:
OPEN -former hi flier
GMCR -former hi flier
AZO -doing well
SBUX -doing well
MCD -doing well
MA -doing well
QCOR -nice performer
Oil -approaching $100

Commodities (charts):
Oil prices were up again, closing around $98.99
Natural gas dropped, closing near $3.58
Gold was up a bit, closing near $1788
The 30 year Bond futures dropped, closing near $140.43
The US Dollar was mostly flat, closing near 77.13

NEWS:
Weekly market recap...
The Nasdaq 100 is set for a monster breakout
3 ways to gauge a scary market
Insider selling on the rise. Bear signal?
Alabama county files biggest municipal bankruptcy
Gold Traders Most Bullish Since 2004 on Debt Crisis

MF Global Terminates Entire Workforce of 1,066 Employees
MF Global Clients: Few Options to Reach Cash
Staring into the abyss (Europe)

Stock Market Blog -Nov 6th

The market dropped, then recovered a bit toward the end of the week. Friday's monthly jobs report showed a slight drop in the unemployment rate to 9%, and an increase of 80,000 jobs, hardly enough to improve the situation! Europe and Greece continue to dominate the financial news.

New all time highs:
COG, DUK, EL, FAST, FIO, HANS, LQD, MA, MCD, ORLY, PNRA, ROST, SBUX, SWI
New all time lows:
Pops: SBUX, QCOM
Drops: CECO, DNDN, OPEN

New Unemployment Claims were down, coming in at 397,000 (chart)
This week, two banks were shut down by the FDIC (list)

Next week: Economic reports  Earnings season continues, with the following companies among those reporting:

MON: PCLN
TUE: CLNE
WED: CSCO, GMCR, GM
THU: DIS, NVDA
FRI:

Market Commentary

We got the pullback I mentioned last week! I'm still looking for the market to work its way higher toward the end of the year, with pullbacks along the way. Keep your eye on the Euro currency, as our stock market trades pretty much in the same direction.

This week's charts:

Sony
Toyota
Japan

Commodities (charts):
Oil prices were up again, closing around $94.40
Natural gas was mostly flat, closing near $3.91
Gold rallied again, closing near $1753
The 30 year Bond futures rallied, closing near $141.10
The US Dollar was up, closing near 77.12

NEWS:
Here’s Why the S&P 500 is Giving Investors Déjà Vu
SPX and NDX Update: Top May Be In as Retracement Rally Hits Targets
Freddie Mac Loses $4.4B in Third Quarter, Requests $6B More From Treasury
MF Global Files for Bankruptcy on Bad Euro Zone Bets
Nothing Has Changed On Wall Street
AMD cuts 10% of its workforce
Groupon IPO: Shares Soar In Public Market Debut

Europe: The worst-case scenarios
Italian bond yields at 'scary' levels