Today, November 18th, 2008, the Stock Market and Dow Jones Futures are pointing much lower this morning. If the Dow Jones Industrial Average Futures stay this low, they will be gapping below the Oct 27th close of 8176. The Dow Jones Futures are lower by 145, the Nasdaq Futures down 28, and the S&P 500 Futures down 17. Check out my DJIA Technical Analysis chart I made last night. I will see how we open and adjust my portfolio from there. On a down note, if you follow Jim Cramer CNBC Mad Money, he said last night he thinks we are going much lower. There are just no buyers up here.
Asian Markets - European Markets 11-18-08
The Asian and European Markets were weak last night. The FTSE 100 index was down 63.37 points, or 1.5 percent, at 4,069.79, while Germany's DAX was 64.85, or 1.4 percent, lower at 4,492.42. The CAC-40 in France was down 47.79, or 1.5 percent, at 3,134.24.
In Asia, the Nikkei 225 stock average fell again by 194.17 points, or 2.3 percent to 8,328.41. Hong Kong's Hang Seng Index sunk 4.5 percent to 13,131.23.
Stocks to Watch today: 11-18-08
It will be interesting to see if we test below 8000 again and whether the bulls can show up for the 4th straight time. Something just doesn't seem right, these rallies keep failing. I will be watching some of the big cap tech stocks today such as Apple ( AAPL ) to see if that stock can hold $86 which has been key support. I'm looking for a statement out of Baidu.com ( BIDU ) to clarify the bad press it got over the weekend. From what I read, that could be coming out today. Yahoo's ( YHOO) CEO Jerry Yang finally stepped down, Yahoo stock is up in pre market.
UPDATE: Hewlett Packard ( HPQ ) out with great earnings of $1.03 vs $1.00 and is raising guidance for 2009. Stocks are now going up
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