A mixed market to begin the week as the Dow fell 5 points on light volume.  The advance/declines were positive.  The NASDAQ and S&P 500 were higher on the day.  The trend remains up.  The summation index is moving higher.  I would expect the Dow to close above 15000 at some point this week.  I have no OEX trades in mind for now.  May consider the puts again at some point before expiration.  GE was flat on the day and the volume was very light.  No trades here for now.  Gold was a a few bucks on the futures and the US dollar was higher as well.  The XAU was flat on the session.  ABX gained 1/3 on good volume, while GG and NEM were little changed on light volume.  Could be a week for consolidation in the gold shares but that is simply a guess.  My October ABX calls continue to show a profit.  Mentally I'm feeling OK.  Just a pause in the rally today for the stock indices.  Not much in the way of economic data out this week.  We should drift higher in my opinion.  Today the Dow transports confirmed the new high in the Dow.  Gold has had a nice run higher since the crash 3 weeks ago.  I'd still expect the recent lows to be tested at some point here though.  Not sure how long I'll hold on to the October ABX calls.  However if the low has been put in there, we should see a bullish monthly candlestick for May.  We'll keep an eye on the foreign markets overnight and go from there.        

Stocks Going Ex Dividend the Third Week of May

  Here is our latest update on the stock trading technique called 'Buying Dividends'. This is the process of buying stocks before the ex dividend date and selling the stock shortly after the ex date at about the same price, yet still being entitled to the dividend. This technique generally works only in bull markets. In flat or choppy markets, you have to be extremely careful, and may need to avoid the technique during those times.

In order to be entitled to the dividend, you have to buy the stock before the ex-dividend date, and you can't sell the stock until after the ex date. The actual dividend may not be paid for another few weeks. WallStreetNewsNetwork.com has compiled a downloadable and sortable list of the stocks going ex dividend during the next week or two. The list contains many dividend paying companies, all with market caps over $500 million, and yields over 2%. Here are a few examples showing the stock symbol, the ex-dividend date, and the yield.

Consolidated Edison (ED) 5/13/2013 3.9%

DuPont (DD) 5/13/2013 3.4%

Exelon Corp (EXC) 5/13/2013 3.3%

Fifth Street Finance (FSC) 5/13/2013 10.5%

Five Oaks Investment Corp. (OAKS) 5/13/2013 10.4%

Gas Natural Inc. (EGAS) 5/13/2013 5.2%

Black Hills Corp (BKH) 5/15/2013 3.3%

Chevron Corp (CVX) 5/15/2013 3.3%

Diebold, Inc. (DBD) 5/15/2013 3.8%

The additional ex-dividend stocks can be found at wsnn.com. (If you have been to the website before, and the latest link doesn't show up, you may have to empty your cache.) If you like dividend stocks, you should check out the high yield utility stocks and the Monthly Dividend Stocks at WallStreetNewsNetwork.com or WSNN.com.

Dividend definitions:

Declaration date: the day that the company declares that there is going to be an upcoming dividend.

Ex-dividend date: the day on which if you buy the stock, you would not be entitled to that particular dividend; or the first day on which a shareholder can sell the shares and still be entitled to the dividend.

Monthly Dividend Stock List
Record date: the day when you must be on the company's books as a shareholder to receive the dividend. The ex-dividend date is normally set for stocks two business days before the record date.

Payment date: the day on which the dividend payment is actually made, which can be as long at two months after the ex date.

Book now available: Buying Dividends Revised and Updated
Don't forget to reconfirm the ex-dividend date with the company before implementing this technique.

Disclosure: Author did not own any of the above at the time the article was written.

By Stockerblog.com

The employment report was better than expected and the market took off to the upside from the opening bell.  The Dow gained 142 points on average volume.  The advance/declines were almost 3 to 1 positive.  New all time highs for some of the stock indices.  The summation index continues higher.  There is no overhead resistance for the Dow and the S&P 500.  I dumped my May OEX puts at the open for a 65% loss.  This trade was in trouble yesterday when we rallied instead of getting some downside follow through to Wednesdays declines.  Not to mention an over 100 point rally the day before the employment report.  The smart money telegraphed todays move.  In retrospect, Wednesday was the day to get long.  Overbought both short and medium term now but that can persist.  We'll have a closing Dow 15000 celebration next week.  GE was up 1/4 on average volume but well off of the highs for the day.  No good ideas there for me at the moment.  Gold lost a bit on the futures as did the US dollar.  Considering the strong employment report it could have been a lot worse for gold.  The XAU was up 1/2.  ABX, GG and NEM all had fractional gains on average volume.  My ABX October calls are still in the black.  I should be holding on to them for a while.  Mentally I'm feeling OK.  Chalk up another losing trade for me with the OEX put loss.  Not a lot of money involved but the mental capital is always more important.  You've got to keep moving ahead though.  2 weeks remaining on the May option cycle.  I might try another trade before expiration.  The June cycle has an extra week.  What looked like the beginning of an extended move lower for the stock indexes on Wednesday has completely turned around.  It now looks like a question of how high can we go?  Of course that could all change next week but I doubt it.  Gold was basically flat on the week but has recovered pretty good from the April crash.  I'd expect those lows to be tested again at some point.  The gold shares have at least stopped going down.  They remain oversold on a medium term basis.  There is a chance that I'll sell the October ABX calls and then try and buy them back again later.  I'll be checking the charts over the weekend to try and come up with the next trade before the May expiration.  It's a warm, springtime Friday afternoon.  Time for a rest. 

Investment that Returned 15% per Year Over the Last Dozen Years

There is an investment that has performed extremely well since 2001, providing an average annual return of almost 15% per year. If you had invested $180,000 back then, you could sell the investment now for $950,000. Not to shabby.

Do you know what this investment is? It is a New York City taxi medallion, which is a license to operate a taxi cab in the city. An individual medallion recently sold for $950,000 and a corporate medallion sold for over a million dollars.

If you are interested in jum;ing on the bandwagon and a million dollars is a little too rich for your blood, you might want to consider investing in the stock of Medallion Financial Corp. (TAXI). Check out that stock ticker stock ticker symbol. The company is involved in acquiring and servicing loans that finance taxicab medallions. The stock trades at 11.0 trailing earnings and 12.2 times forward earnings. In addition, the company provides a very generous yield of 6.1%. The company reports earnings today, May 3.

Disclosure: Author didn't own any of the above at the time the article was written.

Looking for a Job? Check Out This Video

This is a pretty funny video about the search for white collar jobs.

Back to the upside today as the Dow gained 130 points on average volume.  The advance/declines were 3 to 1 positive.  The market is trying to make up its mind which way to go here and tomorrow should decide that.  The summation index continues higher.  The stock indices have the feel of wanting to move higher here.  My May OEX puts are back in the red.  If we break out to the upside tomorrow I will probably have to dump them at a loss.  The technicals for the stock indexes are still short term overbought but that condition could continue while moving higher.  The NASDAQ is moving to new highs for the year and that's bullish.  GE was up 1/8 on light volume.  No trading ideas there for now.  Gold moved back to the upside as well, gaining $20 on the futures.  This happened despite a very strong upside move in the US dollar.  The XAU was off 1/8 as gold and the gold shares remain out of sync.  ABX, GG and NEM had fractional moves either way.  Volume was average.  GG announced their earnings and there wasn't much of a reaction.  My October ABX calls remain at a profit for now.  Mentally I'm feeling tired, did not sleep well.  Employment numbers tomorrow and it would not surprise me to see the market rally.  Money continues to flow into US stocks.  I get the feeling now that the stock indexes will run higher into the May expiration.  I hope I'm wrong for the sake of my OEX put trade.  The technicals could point in either direction now.  Europe cut rates overnight and their markets barely budged.  The money is coming here.  Gold has held up well since the crash but that could all change in a day.  We'll see if there are any surprises in store tomorrow morning and check out the markets reaction to the numbers.  

The Dow headed lower today as it fell 138 points on average volume.  The advance/declines were almost 3 to 1 negative.  We were short term overbought, so a decline here would be in order.  How much of a decline is the question.  The Fed came and went with no real market impact.  There was nothing new in the Fed announcement and rates remain as low as they can go.  The Dow transports and the RUT were especially weak which tells me that the decline could have legs.  My May OEX puts are in the black.  I'll hold them until the employment report at least.  We'll see how the weekly charts look on Friday.  GE was off 1/8 on average volume.  No trading ideas there for now.  Gold headed lower today as well, off $25 on the futures.  It made up a little ground in the aftermarket.  The US dollar was a bit lower today.  The XAU fell 2 1/8.  ABX down 1/2, GG off 3/4 and NEM was up an 1/8 or so.  Volume remains better than average for the gold shares.  My October ABX calls are still showing a profit for now.  Mentally I'm feeling a bit tired.  Lower today on the stock indexes but we all know that the market can turn on a dime.  I would expect Thursdays trading to be a wait and see game.  The next big market mover should be Fridays employment report.  Anything goes there.  I have no idea what the numbers will be but the market reaction will be what's important.  Gold itself looks like it has rolled over here.  We'll see if the recent crash lows hold.  I think that they will given the extended snap back rally we've seen there.  But anything can happen.  We'll see if the overseas markets follow the Dow lower overnight and go from there.