Weekend Reading – Innovation Nation

A little bit of market talk.  Every technical analyst and their mother has MC Hammer blasting in the background this weekend while reviewing charts.  It’s pretty obvious given the candle, the huge volume, and the relentless buying action into the close Friday that guys with deep pockets made a stand.  After looking through a lot of charts this weekend, I’ll be looking for more upside next week.  Friday’s candle becomes your bogey now, below the low which is the 200 day exponential moving average on the $SPY, and we could be in a full fledged bear market take hold.  The market needs time to heal and I don’t see a race back up to the highs, now is the time to be super flexible in your thinking, decrease risk and time frame on your trades.

Here is your weekend reading:

“The only hope we truly have is that the innovation and determination Americans are famous for” (couldn’t agree more) (The Reformed Broker)

Get yourself edumacated on what our banking system really looks like (Rortybomb)

South Korea has everything going for it, besides the constant threat of its capital being leveled in a matter of minutes (Newsweek)

This is a very disconcerting trend, when overseas talent feels that the US is no longer the best place to be entrepreneurial, we are in deep shit (NYT)

The mobile phone emphasizes why globalization is not written in the American language, it has one all its own (The Economist)

The fact that our government has abdicated any real leadership in space exploration to the private sector is a tragedy, it’s not about the destination, it’s about the journey (NYT)

It’s amazing to me that we don’t teach our kids simple personal finance in high school, main street needs to step up (Anal_yst)

This is really cool, Wall Street innovating in the gambling industry (WSJ)

What comes first, the infrastructure or the consumer demand, that is thy question (The Economist)

Public service doesn’t mean what it use to for our best and brightest, I still don’t understand why the government doesn’t pay a competitive rate for talent (Politico)

The E-Book fight is on and it’s going to end with content providers losing the same way they lost in music (NYT)

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