Dow Jones Close 11/11/08 - Stock Market Closing Prices

Stock Market Closing Prices - 11/11/08

Dow Jones Industrial Average ( DJIA ) Close - 8693.96 Down 179
Nasdaq Stock Market Close - 1580.90 Down 35.84
S&P 500 Close - 898.82 Down 20.39
General Motors ( GM ) Close - $2.92

Libor Rates - 11/11/08

1 Month - 1.48%
3 Month - 2.18%

Commodities Closing Prices - 11/11/08

Gold - 731.20
Oil - 58.77
Natural Gas - 6.70

The Dow Jones Industrial Average closed at 8693.96 on 11/11/08, as investors sold stocks into a stock market that wasn't very liquid today. The Bond Market was closed for Veteran's Day. The Stock Market Futures were down big this morning, The Dow Jones futures were actually down 150 at one point as traders sold stocks following yesterdays sell off. Art Cashin pointed out that we might retest the lows once again and General Motors ( GM ) was down 11% again today. In afternoon trading, the Dow Jones was down 305 points but reversed all of its losses after James Lockhart commented on a bailout package for the housing market. On top of this, a top person at Blackrock commented that the Bear Sterns portfolio the Government took over was actually worth more today then when they first took it over. So this was a bit of positive news in an ugly market today. Nevertheless, the Dow is back down 150 at 3:30pm est. The snap back rally could not hold. Visa ( V ) stock was very strong today up 4%!

Dow Jones Technical Analysis:

Today, the Dow Jones broke the November 6th low which was at 8637.17 and made a new low of 8590. The Dow Jones is now trending below its 10 day moving average of 9078 which is bearish. Yesterday, we moved over the 10 day moving average in the morning but failed to hold and close above it. Now you see the end result. If we can't close over the 10 day anytime soon, I'm actually looking for a retest of 8200. I will keep you updated. I think at this point, I would be very bullish on another close over 9000 for the Dow Jones.


Today's Biggest Stock Market Gainers - November 11th, 2008

One of the biggest gainers on November 11th, 2008, was Optimer Pharmaceuticals ( OPTR ). Optimer Pharmaceuticals Reports Positive Data from its North American Phase 3 CDI Study of OPT-80. OPTR seems to have some nice volume and made a high today of $9.75. If $9.75 is taken out with some decent volume, you could really get a move higher. Be careful though, OPTR is up 100% today.


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