This Weeks Action

This was a tough week to trade, you could be extremly right, or extremely wrong depending on the day of the week.  It's hard to make any recommendations when things are this crazy, because if you're wrong, you could get hit by a title wave.  So it's best to trade tight, watch stops, and not make any big moves until things level out. Having the weekend finally arrive should allow the market to cool off and let everyone access the situation more rationally...however sometimes that's when Monday can provide an equally substantial move.  And with options expiration next week, it's not going to settle that much.

A Few Reads:
Forbes:  Stocks Withstand Bleak View from US Consumers
3 Popular stocks unlikely to bounce back
Whether you made money or lost money this week, stay hungry
Seeking Alpha:  Choosing between Gold and Stocks
Seeking Alpha:  Ban on Short Selling a Bad Sign (Eurozone countries implemented this)
MarketBeat: Short selling Bans just don't work

The big tell next week will be how flagship stocks such as Amazon hold up and perform.  AMAN fell off it's high and broke below it's 50-day moving average, but held it's up channel trendline (while GOOG and APPL held 50 MA).  If it can cut back through the 50 day and rally, the uptrend should continue.  If it fails to break through the 50day, the channel trend will be in jeopardy, it will be a good signal of trouble.  I think Amazon has positioned itself great for the future, but nobody's totally immune to a market sell-off---especially after a lot of terrible companies rallied big with the (irrational) rally of the market the past couple years.