Dow Jones Close 11/06/08 - Stock Market Closing Prices, General Motors ( GM )

Stock Market Closing Prices - 11/06/08

Dow Jones Industrial Average ( DJIA ) Close - 8695.75 Down 443
Nasdaq Stock Market Close - 1609 Down 73
S&P 500 Close - 905 Down 48

Libor Rates - 11/06/08

1 Month - 1.77%
3 Month - 2.39%

Commodities Closing Prices - 11/06/08

Gold - 734
Oil - 61.12
Natural Gas - 6.92

The Dow Jones Industrial Average closed at 8696 on 11/06/08, as the stock market fell big for the second straight day after a new President was voted into the United States office. Investors are worried about General Motors ( GM ) which is a huge Dow Jones component. General Motors continues to burn through cash each day that goes by and might end up getting some kind of bailout from the Government. GM has been hovering around the $5 level all day, down more then 10%. The Stock Market Futures were down this morning, The Dow Jones futures were actually down 150 points at one point, we went positive right after the open, and then it was all downhill from there. The retail sales number was horrible and investors are positioning their portfolios from the highly anticipated employment report tomorrow. This report will set the tone for the next few weeks. Anything less then a 210,000 job loss number, I think you could get a small relief rally. Anything under 200,000 lost, you could get a big relief rally. Anything more then 250,000 lost, look out below. The market has priced in most of this bad report in the past two days. That's just my opinion!

As for the Nasdaq, do you remember when I was talking about breaking $30.25 on the QQQQ? The figure was resistance, and now acts as support. We came within .12 cents of that figure today. If we close below $30.25 on the QQQQ, we could retest the lows once again.

Biggest Gainers - Stocks to Watch - November 6th, 2008

Las Vegas Sands ( LVS ), Hartford Financial ( HIG ) - I continue to watch these for a trade, I will not hold them overnight but if I see them breaking through the high of the day, I will trade them for a quick gain.

MasterCard ( MA ) - Jim Cramer still likes this stock, and he has defended himself today on CNBC saying that it jumped $10 right after he mentioned it which he doesn't like to see. He says the shorts piled in and shorted it. If this is a $180 stock, why did it go under $140 today, it should have at least stayed above $150 where it was after earnings. Anyway, if we get a rally in the stock market, MasterCard should run up with it.

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http://daytradingstockblog.blogspot.com/