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Trading Notes: It’s Been A Good Week for the Stock Market, But…

8:43am – I like how that Liberty Mutual commercial (played frequently on CNBC) is using “Human” by Human League. One of my favorite songs from the 80s. Great recording, and if listened on headphones it’s pretty spectacular!

Overall, the stock market has had a great week. Since Wednesday (the day of the Presidential Debate) the market has been on a rally. Not a huge rally, but a consistent and solid one.

Some political pundits, depending on the way you look at this (and your politcal party, of course) will either say this is a Mitt Romney rally, or a Barack Obama rally. The Jobs Report today shows the unemployment rate fell from 8.1% to 7.8%. Definitely, this is good news but how those numbers were arrived at will obviously cause some skepticism for Republicans who don’t trust the numbers after a Presidential Debate arguably dominated by Mitt Romney.

Unemployment Rate Drops to 7.8%

Unemployment rate falls to 7.8%

The job market is finally showing some juice.

The unemployment rate fell to 7.8 percent in September, the Labor Department said Friday, from 8.1 percent in July, its lowest since January 2009. It is a surprising show of improvement in a job market that had seemed listless in recent months. Unlike in August, the number improved for the right reasons: Not because people gave up looking for jobs, but because far more people reported having one.

Employers reported creating 114,000 jobs in September, almost identical to analysts’ forecasts, but revisions to data from July and August brought improvement of that measure of the job market as well.

Friday’s Trading Notes

8:53am – The major stock indices have fallen off the highs of the day, so it seems, but we are still in rally mode and things so far remain steady.

Market Indices: $DJI +52.68 $COMP +4.63 $SPX +4.90 $NYA +40.8821

This week has been a good with for the stock market, as we have essentially been in rally mode since Wednesday (the day of the Presidential Debate). What does this all mean? Who knows… But, I still remain cautious mainly because of the ongoing crisis in Europe, and the empending slowdown in China. Although this could impact the global economy and teeter the world’s economy to the brink of a global recession.

Portfolio Notes

9:00am – CNBC obviously has a right-wing leaning slant to their financial reporting, as they critique and question the Unemployment Rate numbers (down to 7.8%). Should you trust the numbers and is this a means to make up for the rather lackluster performance of President Obama during the 1st debate?

Anyway, the portfolio numbers are looking pretty good and has reflected the 3 day rally this week. The portfolio is up 37 points right now, but it was higher earlier this morning at around 100+ points.

Portfolio Gainers: $TGT $XOM $RNF $KO

Portfolio Laggards: $ISRG $GLD $NLY

Trading Notes

9:20am – Mitt Romney just spoke “Live” in Virginia and I swear the stock market tanked a bit, with the NASDAQ falling into the red! He’s done now and the NASDAQ bounced back into the green. What just happened? And is this a direct reflection of the market’s reaction to Mitt Romney? Who knows?

Here are the latest numbers…

Market Indices: $DJI +53.09 $COMP +2.12 $SPX +4.65 $NYA +40.584

11:26am – The portfolio has tanked for the day, and we’ll be lucky to get back to the gains from earlier this morning.

The NASDAQ is in the red, and the major indices have fallen a bit, off of the highs of the day.

Market Indices: $DJI +39.19 $COMP -2.64
$SPX +2.05 $NYA +20.4496

Can we recover and get back to a solid rally heading into the weekend? I don’t know now…

After Hours

The major indices ended the trading session mixed. The NASDAQ and the S&P 500 were just in the negative, while the Dow and the NYSE maintain the rally but had fallen considerably to lower levels.

The portfolio also ended the day mixed, and down -155 points.

Portfolio winners: $TGT $RNF $XOM $S

Portfolio losers: $ISRG $GLD $NGG $NLY

Market Indices: $DJI +34.79 $COMP -13.27
$SPX -0.47 $NYA +7.7268



About the author:
Has 3153 Articles

Carlos Rull is a musician living in the San Diego area. His interests include Yoga, Eastern Philosophy, Zen Buddhism, and Gardening. He plays drums, piano, and composes New Age & Ambient music, and his albums are available on iTunes and Amazon.com.

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