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Friday, February 20, 2009

Nasdaq Analysis 2/23/09 February 23, 2009

The following is Technical Analysis for the Nasdaq ( NAS ) for 2/23/09

Nasdaq Support & Resistance Levels - February 23, 2009

Resistance Levels: 1500, 1535

Support Levels: 1434, 1400




The Nasdaq was very strong today when the market turned around in the afternoon hours and managed to close over the support level of 1434.
Right now the Nasdaq has support at 1417-1420 but a break down below this range would bring a retest of 1400. I'd expect 1400 to hold unless there is really bad new out there. I will be buying anything at or below 1400 for a nice bounce. On the upside, the Nasdaq will have resistance between the 1500-1513 area and would probably stall if it gets there any time soon.
For More Technical Analysis - Go Here

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

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Dow Jones Close 2/20/09 Stock Market Closing Prices

Stock Market Closing Prices - 2/20/09 - February 20, 2009

Dow Jones Industrial Average ( DJIA ) Close - 7365.67 Down 100.28
Nasdaq Stock Market Close - 1441.23 Down 1.59
S&P 500 Close - 770.05 Down 8.89
http://dowjonesclose.com

Libor Rates - 2/20/09

Commodities Closing Prices - 2/20/09

Gold - 995.10
Silver - 14.39
Oil - 38.94
Natural Gas - 4.03

The Dow Jones Industrial Average closed at 7366 on 2/20/09, as the stock market went on a roller coaster ride opening weak and bouncing off the lows. The Dow Jones Futures were down big this morning and the Stock Market tanked going into the afternoon hours. At about 2:15pm, CNBC's Steve Leisman reported that Timothy Geithner will give Wall Street additional details on the bank bailout plan next week and the Stock Market went up. Before this announcement, Bank of America ( BAC ) hit a low of $2.53 and Citigroup ( C ) plunged to $1.61 per share. After the announcement, Citi hit $2.20 and B of A hit $4.09 as shorts scrambled to cover. The Financial Bear FAZ ETF went from $84 to $68 and then back to $75....if you are looking for some day trading action, FAZ is the stock to watch! FAS is the opposite of FAZ so if you are bullish on financials, buy FAS

The Dow Jones held its October 10, 2002 low of 7181.47 and the closing low of 7286 which was on October 9, 2002. These are two price points you will want to watch closely next week. On the S&P 500, the 741 low held as well. On top of all of this, Gold crossed $1000 for a brief period of time earlier in the day.

Will Timothy Geithner strike out again next week or give Wall Street something to run with? I will have full technical analysis of the stock market over the weekend - Right Here

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

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Bank Rescue Details Next Week 2/20/09

Steve Leisman of CNBC is reporting that additional details of the Bank Rescue plan will be released next week. He doesn't know the exact day but we will get some details at least. Maybe Timothy Geithner will surprise us!

Dow Jones only down 107 to 7358 now

BAC rallying to $3.38

AAPL Visa V DRYS Analysis 2/20/09 - February 20, 2009

I updated the following technical anlaysis stock charts at http://blackberrystocks.com/charts.html

Technical Analysis Updates: February 20, 2009

Visa - V
Apple - AAPL
DryShips - Drys
United States Oil Fund - USO

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Stock Market Crashes! February 20, 2009 - Again!

The Stock Market is crashing ( Again ) thanks to a failed bank rescue plan by Timothy Geither. The Bank Stocks are absolutely tanking this afternoon, 2/20/09.

Citigroup - C - $1.73 Down 31%
Bank of America - BAC - $2.79 Down 29%
Financial Bear 3X - FAZ - $84.00 Up 19.58%

Gold Price - $1000

Will this be another weekend where the White House scrambles to put some sort of policy decision together?

The S&P must hold 752 on a closing basis and 741 on an intraday basis for the lows to officially hold. The Dow Jones hit 7250 earlier and appears to be headed to 7000. If Timothy Geithner would have came out with a solid banking plan, we would be over 8500 right now. I'm concerned there is no solution or he would have gave us one! Bank Nationalization is the talk of Wall Street right now.

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Palm Stock Analysis February 20, 2009

Palm ( PALM ) has been one of the Top Stocks in 2009. The following chart is technical analysis look at PALM courtesy of www.stockcharts.com

Palm Support and Resistance Levels - February 20, 2009

PALM Stock Resistance: $8.00, $9.51

PALM Stock Support: $7.00, $5.60


Palm has been one of the hottest stocks in 2009 so far but there are signs of breaking down. The trend line was broken after the fall from the $9.51 high so it appears the huge run is either over or will stall out for awhile. I would be a buyer on a pullback to the 200 day moving average at $5.60.
PALM's high was $7.99 today which is around the 10 day moving average...Back when PALM crossed the 10 day moving average at $1.75 to start this run, PALM only closed below the 10 day once before topping out at $9.51. We now have three straight days of closing below the 10 day moving average. This is bearish. The biggest volume day was the move above the 200 day moving average so this is why I feel there will be solid support at this area.
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Hot Penny Stocks 2/20/09 February 20, 2009

Today, 2/20/09, there are a few penny stock gainers breaking out to the upside. Be sure to check out the Top 2009 Penny Stock Gainers on the NYSE, Nasdaq, and AMEX.

Penny Stock Gainers - February 20, 2009

Oilsands Quest - BQI - $0.74 Up 15.45% - BQI getting a nice bounce today after being crushed in the past week.

Colonial Bancgroup - CNB - $0.44 Up 10.00% - CNB stock is bouncing after getting crushed over the past few months. - Birmingham Alabama law firm joins crowd suing Colonial BancGroup.

Huntington Bancshares - HBAN - $1.20 Up 16.50% - Huntington HBAN begins job cuts outlined in plan


Check out the biggest stock gainers today.

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Art Cashin CNBC 2/20/09 February 2009

Art Cashin, floor trader from UBS, was on CNBC this morning ( February 20, 2009 ) and gave comments on the Stock Market and what to look for.


Art, where do we go now that we broke the lows in the Dow Jones yesterday?

It's a complicated case, we have a Dow theory sell signal since we closed at a new low yesterday....what i'm hoping for is we test the S&P 500 over the next few days and if we hold 741 we could see a rather significant bounce. We could have a brief pop...or a real bear market rally...we will know in a few days. If we break 741 then there will be debate as to us testing the 2002 or 1997 lows.

Bank Nationalization Fears: When you here Alan Greenspan chime in, you definitely have fears. There are certainly rumors going around. For all of Art's Comments, go here

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Baltic Dry Index Shipping Rates 2/20/09 BDI

The following is a report on Dry Bulk Shipping Rates for 2/20/09. 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 - February 20, 2009 - Up 4 Straight Days

Baltic Dry Index ( BDI ) - 2099 Up 42
Spot 4 - TC Average - 39401 Up 660
Baltic Cape Index ( BCI ) - 3768 Up 35
Baltic Panamax Index ( BPI ) - 1439 Up 55
Supramax Index ( BSI ) - 1300 Up 29
Past Bulk Shipping Rates

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Biggest Stock Gainers 2/20/09 February 20, 2009

Today, February 20, 2009, there are several stock gainers that are breaking out with some nice momentum. If you are looking to day trade today, you might want to check out the following stocks. Despite the stock market going down today, here are several hot stocks bucking the trend. Check out today's biggest gainers and the Top Stocks for 2009. Yesterday, PCLN and WFMI were the hot stocks.


Hot Stocks 2/20/09 - Biggest Gainers Today


Career Education - CECO - $22.47 Up 14.29% - Career Education 4Q profit up, revenue down. Career Education 4th-qtr profit more than triples on fewer costs, but revenue falls.

Financial Bear 3X - FAZ - $78.59 Up 11.95% - FAZ was $40 before Timothy Geithner unveiled his failed banking rescue plan. FAZ then jumped 11% right after the speech. FAZ is up 95% in less then two weeks.

Crocs - CROX - $1.35 Up 11.57% - Crocs releases earnings - Crocs posts 4Q loss on slow sales, stronger dollar.

Other Gainers - SRS, SKF


Check out the biggest stock gainers today.

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Bank Stocks 2/20/09 February 20, 2009

Today, 2/20/09, the bank stocks are getting hit hard once again as the stock market plunges to new lows today. Meredith Whitney said on CNBC yesterday that she would still sell Citi at $2.50. It appears that Wall Street is pricing in nationalization.

Banking Stock Update - February 20th, 2009 - Pre Market

Citigroup C - $2.32 Down 7.52%
Bank of America BAC - $3.60 Down 8.4%
Wells Fargo WFC - $11.21 Down 6.66%
Goldman Sachs GS - $83.75 Down 2%
Morgan Stanley MS - $19.34 Down 1.90%
JP Morgan JPM - $19.81 Down 3.83%
Financial Bear 3X FAZ - $77.40 Up 10.50%

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1 and 3 Month Libor Rates - 2/20/09 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 2/20/09, are: 1 Month Libor Rate - 0.473% & 3 Month Libor Rate - 1.249%. The overnight Libor rate is 0.278%. As you can see, Libor Rates have changed today, February 20, 2009. While the 1 Month Libor stayed the same, the 3 Month went up and the Overnight fell.
Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.

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