The week that was

After a crazy week at the markets, a much-needed weekend break is upon us.  Next week will be a full week of trading, but I am assuming volume may be light Thursday and Friday heading into the Memorial Day Holiday weekend.  The chart below illustrates the SPX for the past month, and as you will see, it hasn’t been pretty, unless you were short.

Below are some interesting articles for weekend reading in preparation for the week ahead.

Small Businesses Still Worried About Financial Reform Bill…CNBC

Top Traders:  Is Market Way Oversold…CNBC

Subway Series this weekend…MLB

U.S. Stocks Overexposed to the Euro..Stockpickr

The Stock Bandit unleashed its Advanced Trading Course….Stock Bandit

Stocks to Buy for 5/24/10….Stockstobuy.org

Trader Mike’s T2108 at 14 month lows as market revisits flash crash levels…Trader Mike

Trendline resistance stock screen by Finviz

Unusual volume stock screen by Finviz

Oversold stock screen by Finviz

A billionaire goes all-in on gold…WSJ

Bulls vs. Bears in a Street Fight…MarketWatch

I have been tracking EUR/USD lately as is everyone else in the market…MarketWatch

The Virtual Stock Exchange is what I want to use for my Investor’s Club that I am developing within the next couple weeks…Virtual Stock Exchange

Top Discount Brokers from SmartMoney

Teaching workers how to budget – will corporate financial literacy work…SmartMoney

And we wonder why the economy is such a mess…Pragmatic Capitalist

BP Conspiracy Theory…Jutia Group

Why do I have so many positions open at one time…Slope of Hope

Seth Klarman is more worried about the world than ever…Zero Hedge

32 states have borrowed from the Federal government to pay unemployment benefits…Economic Policy Journal

Brief analysis on some stocks that I either own or am watching:

YRCW is right at support levels around 0.36, but is there any reason to “own” this stock?  No, but there may be a reason to “trade” this stock.

LLY broken 2010 support levels in addition to the 200 day MA within the past week (caveat is that many stocks have done the same in connection with poor overall market conditions).

If we see any signs for a bounce next week, I want in on FAS.  This is one of my favorite ETFs to track and is one that can make and lose a lot of money in a volatile market.  See the nice bounce off support levels in the chart below.

KMP, are you serious about this dividend?  I like it.

Have a great weekend!