Dow Jones Close 11/18/08 - Stock Market Report

Stock Market Closing Prices - 11/18/08

Dow Jones Industrial Average ( DJIA ) Close - 8424.75 Up 151
Nasdaq Stock Market Close - 1483.27 Up 1.22
S&P 500 Close - 859.07 Up 8.33

Libor Rates - 11/18/08

1 Month - 1.45%
3 Month - 2.22%

Commodities Closing Prices - 11/18/08

Gold - 736
Oil - 54.57
Natural Gas - 6.52

The Dow Jones Industrial Average closed at 8424.75 on 11/18/08, as investors continued to sell stocks again today but with the stock market bouncing off its lows from earlier in the afternoon and the Dow Jones gaining on the day. We had a nice buy program hit the market in the final half hour of trading. The Stock Market Futures were down big this morning, The Dow Jones futures were actually down 165 at one point but Hewlett Packard ( HPQ ) pre released earnings and the company reported $1.03 vs $1.00 per share and raised guidance for 2009. Let me say that again; HPQ raised guidance for 2009. Yes, there is a company doing well in this environment. HPQ was up around 16% at one point. Research in Motion ( RIMM ) has been strong for the second straight day and has been a bright spot in the tech sector today. General Motors ( GM ) has been weak all day down around 9% to $2.87 per share. Goldman Sach ( GS ) continues to be weak as well. Goldman is a key indicator for a market turnaround. If GS stock can get some upside I think the Stock Markets will follow. At the close today, Carter Worth reiterated his " all in long " position on the stock market. That is pretty much all that happened today in the stock market, nothing to exciting, lots of sellers, very little buyers, very light volume!

Dow Jones Technical Analysis Chart
Today's Biggest Gainers - November 18th, 2008

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Dow Jones Open 11/18/08 - Stock Market Open

The Dow Jones Industrial Average ( DJIA ) and US Stock Markets have open flat this morning, 11/18/08, after the futures were down big early in pre market trading. Hewlett Packard ( HPQ ) came out with earnings that were ahead of expectations and also raised guidance for 2009 but as soon as Henry Paulson and Ben Bernake started speaking the gains that we had were quickly taken away. It seems as though every time our Government speaks while the stock market is open, we fall. Anyway, for the Dow Jones, look at my DJIA Chart as these are the low points I am watching closely. The Dow Jones is now up 60....very volatile trading going on as usual!

Today's Biggest Gainers - 11/18/08 - There aren't many!

Art Cashin seems to think we may retest the lows....he spoke on CNBC this morning.

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Art Cashin CNBC 11/18/08 - HPQ News

Art Cashin of UBS was on CNBC this morning 11/18/08. Below are Art Cashin's comments.

HPQ news was good news, technology stocks have been badly beaten down, The Hewlett Packard News is a sigh of relief, don't know if its a turnaround for the markets though.

As far as testing the lows goes, the lows testing we have been doing lately is raising some concern. Each bounce off the lows is weaker, if we restest the lows and break down, we could really spiral down.

The PPT ( Plunge Protection Program ) is nonsense, Art Cashin doesn't think the Government is buying the S&P's every time we plunge to spark a rally like a previous guest on CNBC had eluded too.

For all of Art Cashin's comments over the past several weeks, click here

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Hewlett Packard HPQ to Save the Day?? 11/18/08

Hewlett Packard ( HPQ ) just came out with pre announced earnings of $1.03 vs $1.00. Futures are going up, HPQ stock is up 8%. I don't believe these earnings were due out until next week.

This is something to watch today!

http://daytradingstockblog.blogspot.com/

1 and 3 Month Libor Rates - 11/18/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 11/18/08, are: 1 Month Libor Rate - 1.45% & 3 Month Libor Rate - 2.15%. The overnight Libor rate is 0.40%. As you can see, Libor Rates have gone down for the second straight day. Here are Previous Libor rates.

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Dow Jones Futures 11/18/08 - Stock Market

11/18/08 Pre Market Trading Report:

Today, November 18th, 2008, the Stock Market and Dow Jones Futures are pointing much lower this morning. If the Dow Jones Industrial Average Futures stay this low, they will be gapping below the Oct 27th close of 8176. The Dow Jones Futures are lower by 145, the Nasdaq Futures down 28, and the S&P 500 Futures down 17. Check out my DJIA Technical Analysis chart I made last night. I will see how we open and adjust my portfolio from there. On a down note, if you follow Jim Cramer CNBC Mad Money, he said last night he thinks we are going much lower. There are just no buyers up here.

Asian Markets - European Markets 11-18-08

The Asian and European Markets were weak last night. The FTSE 100 index was down 63.37 points, or 1.5 percent, at 4,069.79, while Germany's DAX was 64.85, or 1.4 percent, lower at 4,492.42. The CAC-40 in France was down 47.79, or 1.5 percent, at 3,134.24.
In Asia, the Nikkei 225 stock average fell again by 194.17 points, or 2.3 percent to 8,328.41. Hong Kong's Hang Seng Index sunk 4.5 percent to 13,131.23.

Stocks to Watch today: 11-18-08

Biggest Gainers

It will be interesting to see if we test below 8000 again and whether the bulls can show up for the 4th straight time. Something just doesn't seem right, these rallies keep failing. I will be watching some of the big cap tech stocks today such as Apple ( AAPL ) to see if that stock can hold $86 which has been key support. I'm looking for a statement out of Baidu.com ( BIDU ) to clarify the bad press it got over the weekend. From what I read, that could be coming out today. Yahoo's ( YHOO) CEO Jerry Yang finally stepped down, Yahoo stock is up in pre market.

UPDATE: Hewlett Packard ( HPQ ) out with great earnings of $1.03 vs $1.00 and is raising guidance for 2009. Stocks are now going up

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Stock Market Futures 11/18/08 - Dow Jones

The Stock Market Futures are pointing lower for 11/18/08. The Dow Jones Futures are down 145, the Nasdaq Futures are down 28, and the S&P 500 Futures are down 17 for November 18, 2008.

The Asian Markets are also weak today, The Nikkei 225 index is down 171 to 8351 and the Hang Seng is trading at 13181 down 341.

For the latest updates on the stock market, visit, http://www.daytradingstockblog.blogspot.com/

Updated 8:15am Est 11/18/08

HPQ just came out with great pre announced earnings, raised guidance for 2009, Dow Futures are only down 61, Nasdaq Futures down 2, S&P 500 down 7

Dow Jones Analysis 11/18/08 - Stock Market

Another weak day for the Dow Jones and the overall Stock Market today. Here is Dow Jones technical analysis for 11/18/08 ( November 18th, 2008 )

This is how I am trading stocks based on the Dow Jones Industrial Average ( DJIA) for tomorrow, 11/18/08. The level 8175 is key to me, so is 8000, so is 7965, and most importantly 7774.

Dow Jones Support and Resistance Levels for 11/18/08

The Dow Jones closed right near Thursday's close around 8275....100 points above the Oct 27th closing of 8175. It looks like we may retest the lows again and I don't think they will hold this time. I could be wrong, but will the buyers show up again at the lows for the 4th time? Ok, so if we break 8175 i'm out of everything and will watch....if we get some buying, I will quickly get back in. If the selling persists, I will get back out. If we take out 7965 that will be really bearish and I will look for 7800 to hold....if that doesn't hold, you could be looking at the Dow Jones testing 7000. One more final plunge this could really rattle things. Will Carter Worth be right about these lows holding? Will the Hogan bottom hold? These questions should be answered somewhat this week or next! Stock Chart Courtesy of www.stockcharts.com

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General Motors ( GM ) Sells Stake in Suzuki 11/17/08

General Motors ( GM ), in an effort to raise cash, is going to sells their stake in Suzuki car company.

Suzuki Motor Corp. said Monday ( November 17th, 2008 ) that General Motors Corp. (GM) will sell its entire stake in the Japanese automaker in a bid to raise funds.

GM will sell 16.413 million Suzuki shares, or 3.2% of Suzuki shares outstanding, on the market Tuesday. Suzuki will buy back the same amount via the Tokyo Stock Exchange's ToSTNeT 2 off-hours trading system Tuesday morning for Y22.37 billion, for Y1,363 per share - the closing share price Monday.

GM's stake in the Japanese company fell to the current 3% after it sold a 17% stake in 2006 to raise cash for restructuring.

General Motors ( GM ) stock is trading up 8% on this news in pre market, to $3.26 per share.

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