Pre Market Trading - Stock Market 10/07/08

This morning Dow Jones, S&P, and NASDAQ are all rising in pre market due to a surprise interest rate cut in Australia which was the steepest rate cut in 16 years. The US and European markets hope that they are next. India also cut interest rates today.

All eyes and ears will be on Ben Bernanke as he will speak today and the Fed Minutes will come out. The credit markets have tightened somewhat but our system is still clogged. On the bright side, the bailout plan is moving at a much needed fast pace. We will have some major action in regard to the bailout plan next week.

Stock to Watch 10/7/08 - First Solar ( FSLR )
First Solar has been downgraded to sell by Goldman Sachs.....not sure why they waited this long to downgrade, but history says you can never trust these analysts. FSLR has fallen from $300 to $140....nice job guys! Shouldn't you have been downgrading at $300?

Other stock movers in pre market - AMD, NCC both up big time in pre market!

Today I will be day trading AAPL and POT as I did yesterday. This is where to major volume and price action is.