Interesting week as the bottle for S&P 875 continues. As Doug Kass said, it could be a summer snoozefest. Although the market may not move much, there will be plenty to keep us interested. Earnings are on tap and will get heavy late next week and especially the week after. This should give us a clearer picture of the "real world economy." Last quarter earnings came in better than expected due to major cost cutting (thus jobs numbers are weak), and lowered expectations. This time around, it could be a little different. Up until a week or so ago the "green shoots" trade was on and expectations were being raised. The market took a step (dang jobs report) backward this week and reality could be a little more dim than previously anticipated. I'm guessing that some earnings will be okay, and some will still be bad. This plays into Kass' snoozefest thesis as this battle could keep stocks from moving much.
My purchase of American Railcar gives me a little positive energy going into the weekend. Although it wasn't a full position, it bounced nicely off its lows at 7.03 (I paid 7.05) to a close of 7.41. Not bad for a couple of hours. The bulls have protected 7.00 a few times and did again.
I posted that one as well as all my trades real time on Twitter. Go ahead an follow me to get the latest.
Disclosure: Long ARII.