While the stock market went down for the week, breaking a string of six up weeks, it was a tough week for bears. Many big name stocks, such as AAPL, AMZN moved higher on earnings. After Monday's big sell off, and so many earning reports, it looked like it might be another good week for put buyers and others betting on down moves.
My two positions did not benefit much from today's rally. I was watching a list of six other stocks (DO, NOV, CHRW, CNX, SLB, AMGN) that I might want to get in on a pull back but no dice. Those six all held steady or moved higher, while the two I did pull the trigger on faded. C'est la vie (such is life).
Bonds are sending mixed signals. Treasuries TLT are moving lower. Investment grade corporates BND are steady. High yield bonds (or junk bonds) HYG are moving modestly higher. GLD had a good week.
Long MCD, VMI
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