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Thursday, January 15, 2009

Dow Jones Analysis 1/16/09 - Stock Market Analysis

The following is Technical Analysis for the Dow Jones ( DJIA ) for 1/16/09

Dow Jones Support & Resistance Levels - January 16, 2009

Resistance Levels: 8350, 8500, 8765
Support Levels: 8150, 8000, 7965
http://stockcharts.com - Chart


The Dow Jones bounced 250 points off the support level of 8000 today. This is bullish action because it shows you where the buyers are located. Expect this to happen again if 800 is tested. Right now, there is some support at the 8150 level, a level we haven't closed below since November. On the upside, look for selling to hit the market when we get near 8500 and the 50 day moving average ( 8598 ). These will be major resistance levels.


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Nasdaq Analysis 1/16/09 January 16, 2009


The following is Technical Analysis for the Nasdaq ( NAS ) for 1/16/09


Nasdaq Support & Resistance Levels - January 16, 2009


Resistance Levels: 1551, 1600, 1665

Support Levels: 1500, 1450

http://stockcharts.com - Chart


The Nasdaq tested a major support level today of 1450, hit 1456, and bounced back over 1500. This is very bullish action believe it or not. 1500 now becomes support again and if it is closed below, 1450 will be tested once again. Resistance Levels: The Nasdaq will start to have trouble at or near the 50 day moving average which is currently located at 1539. If this level is broken look for the next resistance level to be at the 10 day moving average, or 1579. The volatility seems to be back so know your support and resistance levels!


Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index
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Dow Jones Close 1/15/09 - Stock Market Closing Prices

Stock Market Closing Prices - 1/15/09

Dow Jones Industrial Average ( DJIA ) Close - 8212.49 Up 12.35
Nasdaq Stock Market Close - 1511.84 Up 22.20
S&P 500 Close - 843.73 Up 1.11
http://dowjonesclose.com

Libor Rates - 1/15/09

1 Month - 0.334%
3 Month - 1.086%

Commodities Closing Prices - 1/15/09

Gold - 822
Oil - 35.23
Natural Gas - 4.88

The Dow Jones Industrial Average closed at 8212.49 on 1/15/09, as the stock market was down significantly but bounced into positive territory during the afternoon hours. The day started with the futures down slightly. JP Morgan ( JPM ) came out with earnings which were better then expected, but the fear came at the open when most bank stocks went significantly lower. During the afternoon session, the Dow Jones bounced off a key support level of 8000 and hit a high of 8283 before going back into the red again. Tomorrow, Citigroup ( C ) will release their earnings and we will have to see what is behind that curtain. The volatility appears to be back in full force. The Volatility Index ( VIX ) hit a multi week high of 55 before the bounce occurred. I will have full technical analysis of the stock market tonight, Right Here

Today's Biggest Stock Market Gainers - Top 2009 Stock Gainers - Top 2009 Penny Stocks - Baltic Dry Index

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What is Hogan's Bottom? Art Hogan Bottom CNBC

What is Hogan's Bottom? "The Hogan Bottom" is a phrase heard on CNBC which was called on October 10th, 2008, by Art Hogan - managing director at Jefferies. Art Hogan boldly came on CNBC just after 9am when the Dow Jones Futures were down 400 and the Dow Jones was set to break 8000 for the first time since late 2003. Art Hogan said the bottom gets put in today, enough is enough!

Now, I'm assuming he was referring to the Dow Jones since most people think of the Dow Jones Industrial Average when the general term of " Stock Market " is used. Erin Burnett even referred to a few Dow components in the interview such as General Electric ( GE ) and IBM ( IBM ).

So, Art Hogan's bottom call turned out to be, for the most part, right! The Dow Jones crashed and hit 7773.71 and then bounced. Art Hogan also came on November 14, 2008, and said we will bounce and we will have to reset and figure out where we are when we get to 2009.

Below are the lows hit in 2008 for the Dow, Nasdaq, S&P 500 -

Dow Jones - Hogan Bottom Failed only 1 day - 11/20/08

October 10, 2008 - 7773.71 low on Hogan Bottom Day
November 20, 2008 - 7464.51 low
November 21, 2008 - 7449.38 low but we closed at 8046

Nasdaq

October 10, 2008 - 1542.45 low
November 21, 2008 - 1295.48 low

S&P 500

October 10, 2008 - 839.80 low
November 21, 2008 - 741.02 low

Bank Stocks 1/15/09 - January 15, 2009

News that Bank of America ( BAC ) is needing more Government Aid started circulating last night and Jp Morgan ( JPM ) reported better then expected earnings of .07 EPS this morning. Despite the JP Morgan news, banking stocks are taking a nose dive this morning, 1/15/09. This really all started last week when Citigroup ( C ) started to break down.

The S&P 500 has support between 815-820, so if you love financial stocks down here, it could be a great place to take a shot. I will not be getting involved however until things start to improve.

Bank of America ( BAC ) - January 15, 2009 Low - $7.35 - Current Price $8.08
JP Morgan ( JPM ) - January 15, 2009 Low - $24.75 - Current Price $26.01
Citigroup ( C ) - January 15, 2009 Low - $3.36 - Current Price $3.71
UBS ( UBS ) - January 15, 2009 Low - $11.81 - Current Price $11.90
Goldman Sachs ( GS ) - January 15, 2009 Low - $69.00 - Current Price $71.57
Morgan Stanley ( MS ) - January 15, 2009 Low - $15.25 - Current Price $15.65

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Baltic Dry Index Shipping Rates - 1/15/09 BDI

The following is a report on Dry Bulk Shipping Rates for 1/15/09. 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.
http://dryindex.com/

Dry Bulk Shipping Rates - January 15, 2009

Baltic Dry Index ( BDI ) - 908 Down 12
Spot 4 - TC Average - 15386 Down 298
Baltic Cape Index ( BCI ) - 1850 Down 38
Baltic Panamax Index ( BPI ) - 502 Down 11
Baltic Supramax Index ( BSI ) - 413 Up 4
Past Bulk Shipping Rates

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Biggest Stock Gainers 1/15/09 - CYPB CRYP

Today, January 15, 2009, their are two stocks gainers that are active in pre market trading. Check out today's biggest gainers and the Top Stocks for 2009.

Pre Market Gainers - 1/15/09

Cypress Biosciences ( CYPB ) - $10.45 Up 45% - Forest and Cypress Announce FDA Approval of Savella(TM) for the Management of Fibromyalgia.

Cryptologic ( CRYP ) - $3.70 Up 17% - CRYP expected 2009 profit to come in at $9-$10 million or .65-.71EPS

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1 and 3 Month Libor Rates - 1/15/09 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 1/15/09, are: 1 Month Libor Rate - 0.334% & 3 Month Libor Rate - 1.086%. The overnight Libor rate is 0.118%. As you can see, Libor Rates have changed today, January 15, 2009. Both the 1 & 3 Month Libor Rates went up slightly while the Overnight Libor went up by a nice margin.
Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.
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