Weekly Review (8/21/06-8/25/06)

Reports Week

Last week, the Dow ended down 0.86 percent, Nasdaq fell 1.09 percent, and the S&P 500 dropped 0.55 percent. The market volume was lethargic.

In the coming week, around two dozen economic reports will be released -- including consumer confidence, job growth and manufacturing figures. Investors might even get a better clue about what Mr. Ben Bernanke thinks of interest rates when minutes from the last Fed meeting are released.

The numbers from the reports will drive the market. I can imagine that the traders would jump up and down to pursue any clue from those reports. Some people might on vocation because this week is before Labor Day. It means the volume will be low still and the volatility will increase.

The oil price rose steadily last week. For this week, it is a big factor also. The United Nations Security Council has given Iran until August 31, which is Thursday, to suspend uranium enrichment activities or face sanctions. The outcome of it will stay on Wall Street's radar screen as always.

We should not take this week too seriously. But we need watch it closely especially on Friday. Once the market opens after the Labor Day, then we have to make some serious trade decision.

For short time traders, I think it is a very good week to play. If you are an aggressive investor, you might get in at a barging price.