Stock Market 10/30/08 - Dow Jones Futures - Pre Market Trading

10/30/08 Pre Market Trading Report:

Today, October 30th, 2008, the Stock Market and Dow Futures are set to open up a lot higher following Asian Markets last night. The Dow Futures are called higher this morning by 197 points, the Nasdaq Futures are set to spike 34 points, and the S&P 500 Futures are set to rise by 27 points. Oil is set to open higher at $68.25 and Gold prices are set to rise to $772 an ounce. We are getting follow through from yesterdays Fed Rate Cut and we have opened new credit lines with central banks. As Guy Adami noted yesterday on Fast Money, we are in a trading range from 7800 to 9500. In his opinion, you should be selling up here. Dennis Gartman is now bullish on Gold...so watch Gold Stocks today.


Asian Markets - European Markets 10/30/08

Hong Kong's Hang Seng Index led the rise in Asia, jumping up 12.8 percent to 14,329.85, and South Korea's key stock index flew by 12 percent to 1,084.72.
Japan's Nikkei 225 stock average gained 10 percent percent to 9,029.76 as exporters like Toyota and Sony got a boost from the yen continuing to fall from a 13-year high against the dollar last week. Asian Markets have seen huge gains for the past three trading session.

Stocks to Watch today:

I will be trading Las Vegas Sands ( LVS ) today, I took a small position to hold over night and I will probably be selling into strength in pre market just to take profits and see what kind of highs and lows we get in the first 30 minutes of trading. This will tell a lot about the rest of the day. When I wrote this article yesterday, I had no idea LVS was going to spike over the 10 day moving average all in one day, I was actually expecting it to happen today. So we may in fact get a retest above $9.38.

I'm also going to be watching Potash ( POT ) today. Still waiting for that close over $82....maybe we will get it today. First Solar ( FSLR ) came out with great earnings and guidance last night. FSLR is set to be a big mover today.

I will have another update after 10am today, so check my homepage!

http://daytradingstockblog.blogspot.com/