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Thursday, December 18, 2008

Dow Jones Analysis 12/19/08 - Stock Market


The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/19/08

Dow Jones Support & Resistance Levels - December 19, 2008

Resistance Levels: 8700, 8935, 9000

Support Levels: 8500, 8300, 8150, 8000

http://stockcharts.com - Chart


The Dow Jones is starting to look toppy here as it failed to break through 9000 again today. As you know, I love the Dow over 8500 and this has been a major support level on a closing basis for the last two weeks. If the Dow Jones closes below 8500 I will be concerned.
Resistance is now at the lower 8700 area where both the 10 day and 50 day moving averages are located. I have a feeling given today's sell off, traders will be selling at the 8700 level. Closing above 8725 would bring you resistance at 8935-9000 again.
Support - 8500 and 8300 must both hold or the Dow will start to roll back over and retest the solid 8150 support level.


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Nasdaq Analysis 12/19/08 December 19, 2008


The following is Technical Analysis for the Nasdaq ( NAS ) for 12/19/08

Nasdaq Support & Resistance Levels - December 19, 2008

Resistance Levels: 1580, 1600
Support Levels: 1535, 1500

http://stockcharts.com - Chart

The Nasdaq failed again today at 1600..hitting a high of 1592 and then selling off late in the day back to the 10 day moving average. 1600 is starting to be a problematic area but as long as we remain above 1500 I am bullish. The Nasdaq has yet to close above the 50 day moving average like the Dow Jones has, and if this would happen it would bring technical buying into the Nasdaq Market. This could put us over the 1600 level. Volatility is dying down going into the end of the year.

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Dow Jones Close 12/18/08 - Stock Market Closing Prices

Stock Market Closing Prices - 12/18/08

Dow Jones Industrial Average ( DJIA ) Close - 8604.99 Down 219.91
Nasdaq Stock Market Close - 1552.37 Down 26.94
S&P 500 Close - 885.31 Down 19.11
http://dowjonesclose.com

Libor Rates - 12/18/08

1 Month - 0.508%
3 Month - 1.525%

Commodities Closing Prices - 12/18/08

Gold - 853
Oil - 36.81
Natural Gas - 5.55

The Dow Jones Industrial Average closed at 8604 on 12/18/08, as Exxon Mobile ( XOM ), a key Dow component, took a nose dive due to Oil hitting $36 a barrel. Adding to the weakness, Standard and Poors downgraded GE credit to negative but still left them with a triple A rating. The Stock Market immediately traded down after this credit rating news. In the final hour, there was massive dumping of stocks, sellers were hitting the bids on most stocks hard. We now have the Dow Jones below the both moving averages but as long as the Dow holds 8500 on a closing basis, I am still bullish. For the Nasdaq, I love it above 1500. At the end of the day, Alan Greenspan came out with comments on the banking system. In March of 2007, he came out and warned of a recession in 2008 and people trashed him. I will have technical analysis of the markets tonight, Right Here

Todays Biggest Stock Market Gainers DVAX still has some life in it. In the final hour, it ran from $1.25 to $1.70. Nice move in a down market!

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Alan Greenspan comments 12/18/08 December 18

Alan Greenspan has come out with some comments today, 12/18/08, on the housing market, banking system, and the stock market

Greenspan says the Banking System needs an additional 250 billion in capital. The Tarp program is working so far but it is not enough.

Alan Greenspan thinks the stock market can recover 6-12 months from today, December 18, 2008.

Greenspan also thinks the housing market can bottom or start to recover by mid 2009.


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General Motors GM & Ford F 12/18/08 Stock Report

General Motors ( GM ) and Ford ( F ) stocks just took a nose dive at 11:55am this morning, 12/18/08. General Motors just hit a low of $3.52 and Ford hit a low of $2.81. I'm sure this has something to do with the bailout plan but I can't find any news. This is something to watch. The Dow Jones and Stock Market's do not seem to be effected by these drops.

Stay Tuned......


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Citigroup C Analysis 12/18/08 December 18, 2008


The following is technical analysis of Citigroup ( C ) for 12/18/08. You can see the chart of Citigroup C HERE.


Citigroup ( C ) Analysis: December 18th, 2008


Citigroup ( C ) is starting to have trouble breaking up through the mid $8's after topping out at $9 last week. Citi has support at $7 and this is where i'd put a stop order, any close below this and I think it could retest $6. The next few weeks will be critical for this stock.


Resistance $8.50, Support $7


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Dry Bulk Shipping Rates Report - 12/18/08 DRYS

The following is a report on Dry Bulk Shipping Rates for 12/18/08. This data is critical for how the DryBulk Shipping Stocks such as DryShips ( DRYS ), Excel Maritime Carriers ( EXM ), Diana Shipping ( DSX ), Genco Shipping ( GNX ), TBS International ( TBSI ), Navios Maritime ( NM ), and OceanFreight ( OCNF ) will trade during the day. As you probably know, the Dry Bulk Shipping index can tell you a lot about the state of the World Economy. When Bulk Shipping Rates are at all time highs, the World Economy is outstanding. When Bulk Shipping Rates are as low as they have been lately, it signifies that the world economy has come to a screeching halt.

Dry Bulk Shipping Rates - December 18th, 2008

Baltic Dry Index ( BDI ) - 829 Down 7
Baltic Cape Index ( BCI ) - 1476 Down 79
Baltic Panamax Index ( BPI ) - 543 Up 29
Baltic Supramax Index ( BSI ) - 464 Down 12
Past Bulk Shipping Rates

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Dow Jones Open 12/18/08 - Stock Market

The Dow Jones and Stock Market's are opening up slightly higher 12/18/08 on low volume. Oil is breaking down below $38 per barrel. Apple ( AAPL ) computer is rebounding a bit. Look for a rally if $91.10 is broken. Research in Motion closed above $40 yesterday but has fallen below $39 this morning as we await earnings. I was stopped out at $40 this morning so I am officially back out of this position but still own my Apple. Bought some USO today as I am starting a small long position. I have been waiting for break below $34 on the USO for awhile.

Stock Market Opening Prices December 18, 2008

Dow Jones Open - Up 20
Nasdaq Open - Up 3
S&P 500 Open - Up 3

Today's Biggest Gainers - December 18th, 2008

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Today's Biggest Gainers 12/18/08 DVAX STEM

This morning, 12/18/08, we have several hot stocks breaking out to the upside. It seems as though all the penny stocks are the biggest gainers this week. I haven't seen so many penny stocks on the top gainers list in awhile.

Hot Stocks to Watch - December 18, 2008

Dynavax ( DVAX ) - DVAX is at it again, after soaring yesterday, this stock is over $2 in pre market trading on partnership news with GSX.

Stem Cells ( STEM ) - STEM received FDA Approval to start a clinical trial.

Avigen ( AVGN ) - Selling rights of a research program to Baxter for $7 million.

http://www.blackberrystocks.com/hotstocks.html

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Stem Cells STEM FDA Approval 12/18/08

Expect Stem Cells ( STEM ) to be a big gainer today, 12/18/08, as this company received FDA Approval to initiate a clinical trial of the Company’s proprietary HuCNS-SC product candidate (purified human neural stem cells) to treat Pelizaeus-Merzbacher Disease (PMD), a fatal brain disorder that mainly affects young children. This Phase I trial is designed to evaluate the safety and preliminary efficacy of HuCNS-SC cells as a treatment for PMD. Currently, there are no approved treatments for this disease.

This is the Company’s second FDA-approved clinical trial to evaluate HuCNS-SC cells as a potential treatment for neurodegenerative diseases. The first such study was the Company’s Phase I clinical trial of HuCNS-SC cells to treat neuronal ceroid lipofuscinoses (NCL), or Batten disease. The Phase I NCL trial will be completed in January 2009.

Patients with PMD are born with a gene mutation that results in insufficient myelination of nerve fibers in the brain, neurological impairment and eventually death. Myelin, which is produced by special cells called oligodendrocytes, insulates nerve fibers to allow electrical signals to be conducted normally. Other, more common, myelination diseases include cerebral palsy, transverse myelitis and multiple sclerosis

STEM is up 16% to $1.54 in pre market trading.

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Dow Jones Futures 12/18/08 - Stock Market

The Dow Jones and Stock Market Futures are pointed slightly higher today, 12/18/08, after a late day sell off it the markets yesterday. The news flow has been fairly quiet but the main thing I will be watching tonight is Research in Motion ( RIMM ) earnings after the close. Oil is also ticking up slightly this morning o $40.63 after falling below $40 at one point yesterday. Check out my latest technical analysis of the stock market.

Pre Market - Futures:

Dow Jones Futures - Up 43
Nasdaq Futures - Up 3.90
S&P 500 Futures - Up 0.10

Today's Biggest Gainers

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1 and 3 Month Libor Rates - 12/18/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 12/18/08, are: 1 Month Libor Rate - .508% & 3 Month Libor Rate - 1.525%. The overnight Libor rate is .113%. As you can see, Libor Rates have changed today, December 18, 2008. All three Libor Rates went down today. Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.

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