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Thursday, May 28, 2009

Dow Jones Futures 5/29/09 Stock Market Futures

How will the stock market open on Friday - May 29, 2009? The Dow Jones and Stock Market Futures are pointing toward a Higher open for pre market. Check out technical analysis for May 29.

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Stock Market Futures 5/29/09 - Pre Market Trading - Updated 7:20am

Dow Jones Futures - Up 54
S&P 500 Futures - Up 6.60
Nasdaq Futures - Up 8.50
Nikkei - 9522.50 Up 71.11
Oil Futures - 66.17
Gold Futures - 975.10

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

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Dow Jones Analysis 5/29/09 Stock Market Analysis

The following is Technical Analysis for the Dow Jones ( DJIA ) for 5/29/09

Dow Jones Industrial Average Support & Resistance Levels - May 29, 2009

Resistance Levels: 8591, 8742

Support Levels: 8250, 8000, 7750

The Dow Jones bounced off the 8250 support level today as buyers stepped in around that area. I am now watching for a close over 8500 that could potentially start a new leg higher toward 8600 and then 200 day moving average at 8795. On the downside, a close below 8250 would be very bearish and you would see additional selling pressure and a sign that we have further down to go. Watching 8250 and 8500 on a closing basis. For More Technical Analysis - Go Here

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Dow Jones Close 5/28/09 - Stock Market Closing Prices

Stock Market Closing Prices - 5/28/09

Dow Jones Industrial Average ( DJIA ) Close - 8403.80 Up 103.78
Nasdaq Stock Market Close - 1751.79 Up 20.71
S&P 500 Close - 906.83 Up 13.77

Libor Rates - 5/28/09 - Mortgage Rates

Commodities Closing Prices - 5/28/09

Gold - 960.00
Oil - 64.77
Natural Gas - 3.95

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The Dow Jones Industrial Average closed at 8404 on 5/28/09, as the stock market bounced back after a treasury auction went well around 2pm on Thursday. The Dow Jones Futures were slightly higher coming into the day and the stock market traded high at after the open. At 10am, New Homes Sales were released and the stock market traded down as it became evident that foreclosures are leaking into the prime loan market in addition to the sub prime market. You can see some of my comments here.

During the afternoon trading session, stocks traded flat but took off higher after a treasury auction wasn't a disaster as expected. I think this was a classic short covering rally because the Dow rose 100 points very quickly.

Commodities continued to rise as Oil hit $65, Natural Gas bounced off a double bottom, and Gold traded up to $960 per ounce. If oil continues to rise you could see the stock market actually go down as gas prices become more expensive. These are all thing to keep an eye on going forward. I am also watching mortgage rates because we saw a big spike in rates over the past two days. This could kill housing bottom hopes. I know a sound bearish but there are so many moving parts and our government continues to print money. One wrong step and we could be back where we were in March. Check out some of the events I will be watching for tomorrow.

Check out my stocks to watch report for Thursday. I will also have technical analysis of the stock market tonight - Right Here

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

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Stocks to Buy May 29, 2009 5/29/09

Thursday, during regular trading hours, there were many stocks that continued to break out to the upside. Below is a list of stocks that are worth watching for May 29, 2009. Also, check out the Biggest Stock Gainers of the Day. You can also find previous stocks to buy reports - Right Here

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Stocks to Watch - 5/29/09 - Stock Market Ideas

Oculus Innovative Sciences, Inc. ( OCLS ) - OCLS stock continues to break out after the company told investors it received FDA approval. OCLS broke to a new 52 week high on Thursday at $5.75. After $6, next major resistance will be the July 2008 high of $7.29.

Angiotech Pharmaceuticals Inc. (ANPI) - ANPI received some FDA approval news late Wednesday which caused the stock to rocket into the close and hit a high on Thursday of $2.58. The next major resistance level I see after $2.58 would be $3.00 and then $3.49 from June 2008. Discuss ANPI

Research In Motion Ltd. (RIMM) - Joe Terranova of CNBC's Fast Money continues to like RIMM since it has broken back into the gap from last year. I personally don't see any resistance until the low $90's. You can stop out at $77 on the downside so this is a low risk trade.

MAP Pharmaceuticals Inc. ( MAPP ) - MAPP stock continues to surge Thursday but is running up against resistance around $13.80-$13.90. A close above $14 would set up a potential move toward $15-$16. The volume has died down but MAPP's stock price remains very strong.

Cell Therapeutics, Inc. (CTIC) - As of May 15th, short interest on CTIC stock was 13,384,280, an increase of 139% from April. I continue to watch $1.37 as an area to get long CTIC on a break through that area. CTIC will be presenting at the ASCO conference over the weekend and early next week. A break below $1.00 would be very bearish, especially now that volume has died down.

Hemispherx Biopharma, Inc. (HEB) - HEB stock continues to be very strong but sold off during the afternoon on Thursday......has support at $1.50....resistance at $1.80 and $2.03 - all eyes on Ampligen FDA decision due out in the next 10 days.

Ford Motor Company ( F ) - A lot of bullish traders like Ford stock right now.... F is trading right around the 10 day moving average while the 50 day moving average is rapidly rising. I think the correction is over and another leg higher is imminent.

Financials: I continue to watch the following banks stocks for trading opportunities.

Direxion Daily Financial Bear 3X Shares (FAZ)
Direxion Daily Finan. Bull 3X Shs(ETF)(FAS) - FAS is really easy to trade right now. Resistance is at $10, support at $9.30 and then $8.60. You can trade both FAS and FAZ off this until the trend changes.

Citigroup Inc (C:NYSE) - As long as Citigroup stock remains over last weeks high of $3.60, I like the stock. Today was really the first day in awhile where Citigroup was lagging the market. Keep an eye on this situation.

Bank of America Corp. (NYSE:BAC) - BAC stock held $10.50 again today which has been recent support. I like BAC over $10 and you could see a nice break out when B of A trades back over $12 per share. As of now, Bank of America is going down along with the 10 day moving average.

Wells Fargo & Company (NYSE:WFC) - WFC broke down to near $23 this morning but the buyers came back in full force. This is one of the best financial stocks right now along with Goldman Sachs ( GS ). Guy Adami says that if Wells Fargo hits $22, you back up the truck and buy buy buy.

DryShips, Inc. (DRYS) - Dryships bounced off the 50 day moving average twice this week and is now breaking out above $7.30. The baltic dry index has been surging and DRYS could be getting ready for a new leg higher.

Other Stocks to Watch - May 29, 2009

FreeSeas Inc. (FREE)
Perry Ellis International Inc. (PERY)
Exelixis, Inc. (EXEL)
Longtop Financial Technologies Limited (LFT)
Cytori Therapeutics, Inc. (CYTX)
Caribou Coffee Company, Inc. (CBOU)
Gulfport Energy Corp. (GPOR)
Star Scientific, Inc. (STSI)

Penny Stocks to Watch - 5/29/09

Peregrine Pharmaceuticals Inc. (PPHM)
Vasogen Inc. (VSGN)
Targeted Genetics Corp. (TGEN)
Opexa Therapeutics, Inc. (OPXA)
Meridian Resource Corp. (TMR)
Cyclacel Pharmaceuticals, Inc. (CYCC)
Wave Systems Corp. (WAVX)
Dynavax Technologies Corporation (DVAX)
Cerus Corporation (CERS)
CuraGen Corp. (CRGN)
Authentidate Holding Corp. (ADAT)
Altus Pharmaceuticals Inc. (ALTU)
Generex Biotechnology Corp. (GNBT)
Antigenics Inc. (AGEN)

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Biggest Stock Gainers 5/28/09 May 28, 2009

Today, May 28, 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. Check out today's biggest gainers and the Top Stocks for 2009. You can find yesterday's Top Gainers Report Right Here

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Top Stocks 5/28/09 - Biggest Gainers Today

Exelixis, Inc. (EXEL) - $5.84 Up 29.49% - Exelixis and Sanofi-aventis Sign Global License Agreement for XL147 & XL765 and Launch Broad Collaboration for Discovery of PI3K Inhibitors

Oculus Innovative Sciences, Inc. (OCLS) - $4.75 Up 15.85% - Oculus Innovative Sciences Announces Fiscal Fourth Quarter Financial Results and Corporate Update Release and Conference Call - Management to Update Market on Microcyn® Hydrogel Initiative, Additional New Products, Partner Expansion of Vetericyn™ Sales Effort in U.S., Activity Related to Swine Flu and Revenue Growth Targeting Profitability

Angiotech Pharmaceuticals Inc. (ANPI) - $2.04 Up 18.60% - Angiotech Pharmaceuticals announces FDA approval of next-generation TAXUS(R) Liberte(R) Atom(TM) Stent system

FreeSeas Inc. (FREE) - $2.73 Up 24.66% - FreeSeas Q1 profit beats Street, shares soar

Longtop Financial Technologies Limited (LFT) - $27.78 Up 17.78% -Longtop Signs Contract to Develop a Treasury Management System for a New Enterprise Customer in China

Perry Ellis International Inc. (PERY) - $7.92 Up 16.30% - Perry Ellis Q1 tops Street as cost-cuts bear fruit

CarMax Inc. (KMX) - $11.20 Up 11.21% - Upgraded

Diamond Foods, Inc. (DMND) - $28.50 Up 11.07% - Upgraded

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Hot Penny Stocks 5/28/09 May 28, 2009

Today, 5/28/09, 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. We tend to stay away from OTC and Pink Sheets stocks. You can find ALL Penny Stock Reports Here

Penny Stock Gainers - May 28, 2009

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Peregrine Pharmaceuticals Inc. (PPHM) - $0.92 Up 53.35% - Peregrine Pharmaceuticals Reports Progress in Cotara(R) Brain Cancer Clinical Program

Opexa Therapeutics, Inc. (OPXA) - $0.57 Up 26.67% - No News

Cyclacel Pharmaceuticals, Inc. (CYCC) - $1.17 Up 17.00% - No News

Authentidate Holding Corp. (ADAT) - $1.06 Up 13.98% - No News

General Motors Corporation (GM) - $1.26 Up 9.57% - Bondholders reach deal but bankruptcy isn't out of the question, though, shareholders might not get wiped out. Risky situation!

Axcelis Technologies Inc. (ACLS) - $0.44 Up 8% - No News

Neurogen Corp. (NRGN) - $0.20 Up 13.00% - No News

Rite Aid Corp. (RAD) - $1.14 Up 6.54% - Rite Aid and The Skin Cancer Foundation Help Customers Have Safe Fun in the Sun with Free Skin Care Guide, Online Info and Free Skin Cancer Screenings

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Baltic Dry Index Shipping Rates 5/28/09 BDI

The BDI data is critical for how the DryBulk Shipping Stocks such as DryShips Inc ( DRYS ), Excel Maritime Carriers Ltd( EXM ), Diana Shipping Inc ( DSX ), Genco Shipping & Trading Limited ( GNK ), TBS International Limited ( TBSI ), Navios Maritime ( NM ), Eagle Bulk Shipping Inc. ( EGLE ), Paragon Shipping Inc. ( PRGN ), Star Bulk Carriers Corp. ( SBLK ), and OceanFreight Inc ( 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! - Discuss Stocks -

Dry Bulk Shipping Rates - May 28, 2009 - Up 19 Straight Days

Baltic Dry Index ( BDI ) - 3298 Up 134
Baltic Cape Index ( BCI ) - 5602 Up 294
Baltic Panamax Index ( BPI ) - 2764 Up 152
Supramax Index ( BSI ) - 1832 Up 7
Past Bulk Shipping

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Mortgage Rates Today 5/28/09 May 28, 2009

Housing Bottom? One of the things I watch for regarding a possible housing bottom are daily mortgage rates. Below is list of Today's Mortgage Rates out of Wells Fargo.

Loan Type - Interest Rate - APR - 5/28/09

40-Year Fixed 6.875% 7.081%
30-Year Fixed 5.500% 5.719%
20-Year Fixed 5.625% 5.922%
15-Year Fixed 5.000% 5.368%
5-Year ARM 4.000% 4.120%

Mortgage Rates really went up over the past two days due to treasury bonds falling. This could potentially kill the housing bottom if rates stay this high because if you were a home buyer, would you pay a 5.5% 30 yr fixed when the interest rate was just 4.62% weeks ago?

For Previous Mortgage Rates - Click Here

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1 and 3 Month Libor Rates - 5/28/09 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 5/28/09, are: 1 Month Libor Rate - 0.320%. & 3 Month Libor Rate - 0.667%. The overnight Libor rate is 0.261%. As you can see, Libor Rates have changed today, May 28, 2009.
The overnight and 3 month libor rates went down while the 1 month libor rate rose.

Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.

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