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Stock Market Closing Report - 6/14/19 June 14, 2019

Monday, December 1, 2008

Dow Jones Close 12/1/08 - Stock Market Closing Prices

Stock Market Closing Prices - 12/01/08

Dow Jones Industrial Average ( DJIA ) Close - 8149.09 Down 681
Nasdaq Stock Market Close - 1398 Down 137.50
S&P 500 Close - 816.17 Down 80

Libor Rates - 12/1/08

1 Month - 1.91%
3 Month - 2.22%

Commodities Closing Prices - 12/01/08

Gold - 770
Oil - 49.13
Natural Gas - 6.56

The Dow Jones Industrial Average closed at 8149 on 12/1/08, as investors sold stocks following a huge week of gains last week. The Stock Market Futures were down this morning after Asian and European markets fell overnight. We gapped below Friday's low of 8762 which was a bad sign so I sold out of all but a small position in Google ( GOOG ) that I am holding. I was tempted to buy some of the short etf's such as QID & SKF but didn't pull the trigger. I am waiting on the sidelines for more trades to develop such as Potash ( POT ). I would also like to buy back Mercadolibre ( MELI ) at some point after letting it go at $12 this morning. It turns out we are officially in a recession and it started back in December of 2007. At the end of the day today, the Dow Jones broke through the lows and also the 10 day moving average. This is very bearish! This has me thinking that we will go back and test 8000 soon which is the next major support level for the Dow Jones. I will have a new chart posted HERE later today. Meredith Whitney was on CNBC this afternoon, 12/1/08 and basically echoed what she said on Wednesday during her Bloomberg interview. She ended the interview today by saying her biggest sell in the financials right now is Wells Fargo ( WFC ).

For now, I will wait and not get back into any new positions until we either test 8000 or close back over 8500. This limits risk by a mile.

Volatility Index ( VIX ) - 12/1/08

The VIX spiked back over 65 today closing at 67.30. When we hit the 80's we usually get a nice bounce in the markets so monitor this indicator closely.

Today's Biggest Gainers - 12/1/08


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