Dow Jones Close 11/13/08 - Stock Market Closing Prices

Stock Market Closing Prices - 11/13/08

Dow Jones Industrial Average ( DJIA ) Close - 8835.25 Up 553
Nasdaq Stock Market Close - 1596.70 Up 97.49
S&P 500 Close - 911.32 Up 59.02

Libor Rates - 11/13/08

1 Month - 1.42%
3 Month - 2.15%

Commodities Closing Prices - 11/13/08

Gold - 731
Oil - 59.50
Natural Gas - 6.43

The Dow Jones Industrial Average closed at 8835 on 11/13/08, as the stock market hit the lows in the morning followed by a huge reversal in the afternoon. The Stock Market Futures were flat to up this morning, the Dow Jones was up around 120 before giving back all of its gains and then starting a downward spiral. The Nasdaq and SP 500 made fresh 52 week lows and the Dow Jones crashed under 8000. This is when big institutional buyers started stepping in and buying the QQQQ, SPY, and big cap technology stocks such as Apple ( AAPL ) and Google ( GOOG ).
The Dow Jones was down 300 points but suddenly started reversing and went positive at around 1:45 pm est. Heavy buy volume took the Dow Jones through resistance of 8400....we went back to retest 8300 but then started another leg up going into the last hour of trading. Carter Worth gave some bullish comments this afternoon and the market ripped even higher. Tomorrow is the G20 summit and there are rumors something will come out of that meeting.

To sum up the day, we had very light volume take the Dow Jones down 300 points under 8000, then big buyers stepped in and took us up 850 points off the lows. It is very early, but this finally looks like a bottom to me as did October 10th when the Dow Jones hit 7775 and reversed off of those lows. Everytime we hit 8000 or lower, big buyers step in!

The QQQQ is breaking and closing over $30.25 again which I have been talking about over the past few weeks. $30.70 is your next resistance level.

Today we finally got what Art Cashin refers to as a Cattle Stampede!

Today's Biggest Gainers - November 13th, 2008

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