Last week’s picks*:

VA: PKG -0.92%
SS: CTXS +1.58%
MR: FF +4.78%
TF: SNDK -1.89%

Stock markets looked shaky for long periods last week but they ended on a positive note on Friday sending the Dow Jones Industrial Average up by over 1%. Thursday’s bearish engulfing pattern on the daily chart is pointing to further weakness this week though it is hard for anyone to bet against the market when we are in such a strong uptrend.

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photo of new york city skyline

A choppy week in equities which has been painful for trend followers.

I can’t help but feel ‘Bend-gate’ and all the chatter about Apple is over done. Seems to me that this has only happened in a fraction of cases. It’s also something that has occurred in other brands. That could be why Apple rebounded easily today.

Nevertheless, stock markets have not seen a 10% correction in over three years so we are more than overdue a pullback.

I know plenty of traders have moved into cash though I’m inclined to ride it out.

Here’s this week’s links:

Episode 2 from BBC documentary ‘Millions by the minute‘ on YouTube.

Could corn really go to zero?

Everything you need to know about Finance in under an hour from Bill Ackman.

Can rats beat hedge funds?

Forex Lab Tools from Oanda FX.

Bill Gross leaves PIMCO for Janus Capital.

Have a good weekend!