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
Showing posts with label 2008. Show all posts
Showing posts with label 2008. Show all posts
Thursday, January 15, 2009
Thursday, January 8, 2009
Ambac ABK Analysis 1/8/09 January 8, 2009
Ambac ( ABK ) stock is breaking out to the upside today ($1.70 ), 1/8/09. It's time to take a look at this stock once again. Today's Biggest Gainers
Ambac ( ABK ) Stock Analysis - Technical Analysis - January 8, 2009
Support Levels - $1.50
Resistance Levels - $1.74 & $2.00
Ambac ( ABK ) is doing something today it hasn't done in three months. Break up through its 50 day moving average. The 50 day moving average is located at $1.53 and technically this signals a buy signal. ABK has resistance at $1.74 and $2.00. The volume has been strong in the first 90 minutes of trading today, over 15 million shares.
If I were getting long this stock ( I don't own it as of yet ) i'd place a stop loss order at $1.50 or if it breaks $2.00 and runs a bit, i'd move it up to $2.00. I do not see any news causing this rally but Ambac broke though Monday's high of $1.63, another bullish indicator.
Furthermore, this appears to be a technical breakout vs a fundamental break out. Keep an eye on the above support and resistance levels.
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Ambac ( ABK ) Stock Analysis - Technical Analysis - January 8, 2009
Support Levels - $1.50
Resistance Levels - $1.74 & $2.00
Ambac ( ABK ) is doing something today it hasn't done in three months. Break up through its 50 day moving average. The 50 day moving average is located at $1.53 and technically this signals a buy signal. ABK has resistance at $1.74 and $2.00. The volume has been strong in the first 90 minutes of trading today, over 15 million shares.
If I were getting long this stock ( I don't own it as of yet ) i'd place a stop loss order at $1.50 or if it breaks $2.00 and runs a bit, i'd move it up to $2.00. I do not see any news causing this rally but Ambac broke though Monday's high of $1.63, another bullish indicator.
Furthermore, this appears to be a technical breakout vs a fundamental break out. Keep an eye on the above support and resistance levels.
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Wednesday, December 31, 2008
Dow Jones Close 12/31/08 - Stock Market Closing Prices
Stock Market Closing Prices - 12/31/08
Dow Jones Industrial Average ( DJIA ) Close - 8776.39 Up 108
Nasdaq Stock Market Close - 1577.03 Up 26.33
S&P 500 Close - 903.33 Up 12.69
http://www.dowjonesclose.com/
Libor Rates - 12/31/08
1 Month - 0.436%
3 Month - 1.425%
Commodities Closing Prices - 12/31/08
Gold - 881
Oil - 42.62
Natural Gas - 5.60
The Dow Jones Industrial Average closed at 8776 on 12/31/08, as the stock market closed out the year on a positive note but traded on very low volume. The Stock Market will be open a full day on 1/2/09 and I expect to see low volume once again. Next week the real action will come back and could set the tone for January. Oil exploded to the upside today on short covering hitting $45 a barrel at one point. One of the biggest gainers today that wasn't a micro cap was Dryships ( DRYS ). Drys exploded this morning and then traded in a tight range between $11-$11.30 this afternoon. At the end of the day Drys broke through $11 support. This will be a stock to watch next week.
Today's Biggest Stock Market Gainers
Top 2008 Stock Gainers
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Dow Jones Industrial Average ( DJIA ) Close - 8776.39 Up 108
Nasdaq Stock Market Close - 1577.03 Up 26.33
S&P 500 Close - 903.33 Up 12.69
http://www.dowjonesclose.com/
Libor Rates - 12/31/08
1 Month - 0.436%
3 Month - 1.425%
Commodities Closing Prices - 12/31/08
Gold - 881
Oil - 42.62
Natural Gas - 5.60
The Dow Jones Industrial Average closed at 8776 on 12/31/08, as the stock market closed out the year on a positive note but traded on very low volume. The Stock Market will be open a full day on 1/2/09 and I expect to see low volume once again. Next week the real action will come back and could set the tone for January. Oil exploded to the upside today on short covering hitting $45 a barrel at one point. One of the biggest gainers today that wasn't a micro cap was Dryships ( DRYS ). Drys exploded this morning and then traded in a tight range between $11-$11.30 this afternoon. At the end of the day Drys broke through $11 support. This will be a stock to watch next week.
Today's Biggest Stock Market Gainers
Top 2008 Stock Gainers
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Dryships DRYS Analysis - 12/31/08 - December 31, 2008
Today, 12/31/08, Dryships DRYS stock is breaking out with heavy volume this morning. If you are long this stock, the key levels to look at are $12.10 and $13.76. These are the two highs on the last run up.
As for this afternoon, DRYS is hitting strong resistance in the $11's where there is heavy selling around the $11.37 area. If Drys can break $11.37 it sets up a potential afternoon run. A break back below $11 at any point today would be viewed as bearish but a sell off could set up for a gap up in price on Friday 1/02/09.
The key point with Drys is it has traded back above the 10 and 50 day moving averages which if this holds up would be a bullish buy signal. for now, i'm watching $11 and $11.37
The Baltic Dry Index is closed for the holidays and I believe it reopens 1/2/09. I will have the latest data posted here on my blog.
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As for this afternoon, DRYS is hitting strong resistance in the $11's where there is heavy selling around the $11.37 area. If Drys can break $11.37 it sets up a potential afternoon run. A break back below $11 at any point today would be viewed as bearish but a sell off could set up for a gap up in price on Friday 1/02/09.
The key point with Drys is it has traded back above the 10 and 50 day moving averages which if this holds up would be a bullish buy signal. for now, i'm watching $11 and $11.37
The Baltic Dry Index is closed for the holidays and I believe it reopens 1/2/09. I will have the latest data posted here on my blog.
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1 and 3 Month Libor Rates - 12/31/08 - Today's Libor Rates
It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 12/31/08, are: 1 Month Libor Rate - .436% & 3 Month Libor Rate - 1.425%. The overnight Libor rate is .135%. As you can see, Libor Rates have changed today, December 31, 2008. All three Libor rates have gone down today which is a great sign for the equity market.
Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Tuesday, December 30, 2008
Dow Jones Analysis 12/31/08 - Stock Market
The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/31/08
Dow Jones Support & Resistance Levels - December 31, 2008
Resistance Levels: 8800, 9000, 9250
Support Levels: 8500, 8350
http://stockcharts.com - Chart
http://stockcharts.com - Chart
The Dow Jones closed over both the 10 and 50 day moving averages...a very bullish indicator. Although it has been on low volume, this is very positive action. This makes both 8500 and 8350 very solid support levels. The next key resistance level is 8800 and then 9000.
Lets wait and see what happens next week as we get the volume back as well as the employment report on Friday.
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Dow Jones Close 12/30/08 - Stock Market Closing Prices
Stock Market Closing Prices - 12/30/08
Dow Jones Industrial Average ( DJIA ) Close - 8668.39 Up 184.46
Nasdaq Stock Market Close - 1550.70 Up 40.38
S&P 500 Close - 890.60 Up 21.18
Libor Rates - 12/30/08
1 Month - 0.448%
3 Month - 1.435%
Commodities Closing Prices - 12/30/08
Gold - 874
Oil - 39.25
Natural Gas - 5.84
The Dow Jones Industrial Average closed at 8668 on 12/30/08, as the stock market went up today on news that GMAC, General Motors ( GM ) financial arm, received a 5 billion dollar TARP bailout. The Dow Jones has been hitting key resistance of 8600 all day and broke through it during the final hour. This was pretty much the market mover today as stocks moved higher on low volume once again. There were several hot stocks today! Northfield Labs ( NFLD ) was a hugge stock gainer today as this stock went up 120%. Other large gainers were Renesola ( SOL ), National Financial Partners ( NFP ), and Jones Apparel ( JNY ). These stocks should keep you busy tomorrow, the last day of the year. Look for volume to come back to the stock market on Monday.
Todays Biggest Stock Market Gainers
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Dow Jones Industrial Average ( DJIA ) Close - 8668.39 Up 184.46
Nasdaq Stock Market Close - 1550.70 Up 40.38
S&P 500 Close - 890.60 Up 21.18
Libor Rates - 12/30/08
1 Month - 0.448%
3 Month - 1.435%
Commodities Closing Prices - 12/30/08
Gold - 874
Oil - 39.25
Natural Gas - 5.84
The Dow Jones Industrial Average closed at 8668 on 12/30/08, as the stock market went up today on news that GMAC, General Motors ( GM ) financial arm, received a 5 billion dollar TARP bailout. The Dow Jones has been hitting key resistance of 8600 all day and broke through it during the final hour. This was pretty much the market mover today as stocks moved higher on low volume once again. There were several hot stocks today! Northfield Labs ( NFLD ) was a hugge stock gainer today as this stock went up 120%. Other large gainers were Renesola ( SOL ), National Financial Partners ( NFP ), and Jones Apparel ( JNY ). These stocks should keep you busy tomorrow, the last day of the year. Look for volume to come back to the stock market on Monday.
Todays Biggest Stock Market Gainers
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Stock Alert 12/30/08 - NFP National Financial Partners
This afternoon, December 30th, 2008, I am noticing National Financial Partners ( NFP ) stock breaking out to the upside. This stock has been inching up all day and finally the volume is hitting around 1:25pm. NFP stock went from 2.50 to 2.90 in about 5 minutes.
National Financial Partners ( NFP ) is back where it started the day yesterday so I guess you can make the case it is NOT breaking out. This is a beaten down financial stock which has resistance around the $3 level so I will continue to monitor this one.
Today's Biggest Gainers - December 30th, 2008
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News - Today
National Financial Partners ( NFP ) is back where it started the day yesterday so I guess you can make the case it is NOT breaking out. This is a beaten down financial stock which has resistance around the $3 level so I will continue to monitor this one.
Today's Biggest Gainers - December 30th, 2008
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News - Today
Biggest Stock Gainers 12/30/08 NFLD, GM
Today, 12/30/08, we have a few big stock gainers in the market.
Top Stocks December 30, 2008
Northfield Labs ( NFLD ) - $0.99 up 72% - Northfield Laboratories Inc. (NFLD) announced today that the U.S. Food and Drug Administration (FDA) has accepted for filing its Biologics License Application (BLA) for PolyHeme(R), the Company's investigative human hemoglobin-based red cell substitute for the treatment of life-threatening red blood cell loss when an oxygen-carrying fluid is required and red blood cells are not available. In addition, FDA has designated the submission for Priority Review, with a review goal date of April 30, 2009.
General Motors ( GM ) - $3.87 up 7.7% - GM's financial arm GMAC received 5 billion in a Tarp bailout.
Today's Biggest Gainers - December 30th, 2008
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Top Stocks December 30, 2008
Northfield Labs ( NFLD ) - $0.99 up 72% - Northfield Laboratories Inc. (NFLD) announced today that the U.S. Food and Drug Administration (FDA) has accepted for filing its Biologics License Application (BLA) for PolyHeme(R), the Company's investigative human hemoglobin-based red cell substitute for the treatment of life-threatening red blood cell loss when an oxygen-carrying fluid is required and red blood cells are not available. In addition, FDA has designated the submission for Priority Review, with a review goal date of April 30, 2009.
General Motors ( GM ) - $3.87 up 7.7% - GM's financial arm GMAC received 5 billion in a Tarp bailout.
Today's Biggest Gainers - December 30th, 2008
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1 and 3 Month Libor Rates - 12/30/08 - Today's Libor Rates
It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 12/30/08, are: 1 Month Libor Rate - .448% & 3 Month Libor Rate - 1.435%. The overnight Libor rate is .139%. As you can see, Libor Rates have changed today, December 30, 2008. All three Libor rates have gone down today which is a great sign for the equity market.
Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Dow Jones Futures 12/30/08 - Stock Market
This morning, 12/30/08, the Dow Jones and Stock Market Futures are up nicely as GMAC has received a 5 billion Tarp bailout for preferred shares that pay an 8% dividend. GMAC is the ailing financial arm of General Motors ( GM ). This is great news but we still won't have volume hitting the market until next week. Oil is back below $40 today, trading at $39.11
Stock Market Futures - Pre Market - December 30, 2008
Dow Jones Futures - Up 72
Nasdaq Futures - Up 9
S&P 500 Futures - Up 9
Today's Biggest Gainers
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Stock Market Futures - Pre Market - December 30, 2008
Dow Jones Futures - Up 72
Nasdaq Futures - Up 9
S&P 500 Futures - Up 9
Today's Biggest Gainers
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Monday, December 29, 2008
Dow Jones Analysis 12/30/08 - Stock Market
The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/30/08
Dow Jones Support & Resistance Levels - December 30, 2008
Resistance Levels: 8500, 8600
Support Levels: 8300, 8150
http://stockcharts.com - Chart
http://stockcharts.com - Chart
The Dow Jones closed below 8500 once again on low volume. 8600 seems to be the resistance level lately and if we close above this level I think we could once again test 9000.Support has been around 8300-8350 lately and this must hold or the Dow will go down to test the key support level of 8150.As soon as the Dow gets back above the 10 and 50 day moving averages all will be well again.
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Dow Jones Close 12/29/08 - Stock Market Closing Prices
Stock Market Closing Prices - 12/29/08
Dow Jones Industrial Average ( DJIA ) Close - 8483.93 Down 31.62
Nasdaq Stock Market Close - 1510.32 Down 19.92
S&P 500 Close - 869.38 Down 3.42
http://dowjonesclose.com
Libor Rates - 12/29/08
1 Month - 0.461%
3 Month - 1.459%
Commodities Closing Prices - 12/29/08
Gold - 877.40
Oil - 40.01
Natural Gas - 6.14
The Dow Jones Industrial Average closed at 8484 on 12/29/08, as the stock market fell on very low volume today but managed to rise going into the close. The Dow Jones started out the day to the upside but shortly fell into negative territory after the open. Oil and Natural Gas rose due to the violence around the Gaza Strip. One of the laggards on the Nasdaq was Research in Motion ( RIMM ) as this stock fell below $40 on fears that Wal Mart selling the iPhone would hurt sales of the Blackberry. This is something worth watching as there has been some talk that Microsoft ( MSFT ) might try to buy RIMM at some point in 2009. That is pretty much all that happened today as this will be another boring week. Next week the volume comes back along with a Jobs report due out 1/9/08
Today's Biggest Stock Market Gainers - KKR Financial ( KFN ) was a huge gainer for the second straight day and General Moly ( GMO ) was a late day riser.
Top 2008 Stocks
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Dow Jones Industrial Average ( DJIA ) Close - 8483.93 Down 31.62
Nasdaq Stock Market Close - 1510.32 Down 19.92
S&P 500 Close - 869.38 Down 3.42
http://dowjonesclose.com
Libor Rates - 12/29/08
1 Month - 0.461%
3 Month - 1.459%
Commodities Closing Prices - 12/29/08
Gold - 877.40
Oil - 40.01
Natural Gas - 6.14
The Dow Jones Industrial Average closed at 8484 on 12/29/08, as the stock market fell on very low volume today but managed to rise going into the close. The Dow Jones started out the day to the upside but shortly fell into negative territory after the open. Oil and Natural Gas rose due to the violence around the Gaza Strip. One of the laggards on the Nasdaq was Research in Motion ( RIMM ) as this stock fell below $40 on fears that Wal Mart selling the iPhone would hurt sales of the Blackberry. This is something worth watching as there has been some talk that Microsoft ( MSFT ) might try to buy RIMM at some point in 2009. That is pretty much all that happened today as this will be another boring week. Next week the volume comes back along with a Jobs report due out 1/9/08
Today's Biggest Stock Market Gainers - KKR Financial ( KFN ) was a huge gainer for the second straight day and General Moly ( GMO ) was a late day riser.
Top 2008 Stocks
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Allied Capital ALD Stock Pop 12/29/08
Allied Capital ALD Stock just shot up from $2.60 to hit $3.34 at 10am on 12/29/08 with big volume. I don't see any news but that was a 20-30% move in a matter of minutes!
Hot Stocks to Watch 12/29/09 - KKR, NG
There are a number of new stocks that are showing nice gains this morning but are trading on light volume. This is how the overall stock market will be this week...choppy with light volume.
Hot Stocks to Watch - December 29, 2008
Jupitermedia JUPM - $.81 up 93%
KKR Financial KKR - $1.40 up 40% ...adding to gains on Friday
Verenium Corp VRNM - $1.22 Up 77.56%
Novagold Resources NG - $1.57 up 18%
Most of these stocks are just seeing a bounce because they have been killed this year....I try to trade them where I can but I usually only trade them if there is volume involved.
Today's Biggest Gainers - December 29th, 2008
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Hot Stocks to Watch - December 29, 2008
Jupitermedia JUPM - $.81 up 93%
KKR Financial KKR - $1.40 up 40% ...adding to gains on Friday
Verenium Corp VRNM - $1.22 Up 77.56%
Novagold Resources NG - $1.57 up 18%
Most of these stocks are just seeing a bounce because they have been killed this year....I try to trade them where I can but I usually only trade them if there is volume involved.
Today's Biggest Gainers - December 29th, 2008
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Biggest Stock Gainers 12/29/08 - DXO, LINN, GSS
Today, 12/29/08, we have some big stock gainers hitting in pre market trading.
December 29, 2008 - Break Out Stocks
DXO is the Oil double long ETF which is spiking this morning as Oil prices rise due to the violence in the Gaza Strip. DXO is up 15% to $2.30 in pre market trading.
United States Oil Fund - USO - The USO is up with oil this morning - $30.70 up 5.5%
Linn Energy - LINN - Barron's reporting that Linn's dividend is safe - $13.90 Up 16%
Golden Star Resources - GSS - This stock has been hot over the past few weeks because of Gold. $.95 up 8%
Today's Biggest Gainers - December 29th, 2008
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December 29, 2008 - Break Out Stocks
DXO is the Oil double long ETF which is spiking this morning as Oil prices rise due to the violence in the Gaza Strip. DXO is up 15% to $2.30 in pre market trading.
United States Oil Fund - USO - The USO is up with oil this morning - $30.70 up 5.5%
Linn Energy - LINN - Barron's reporting that Linn's dividend is safe - $13.90 Up 16%
Golden Star Resources - GSS - This stock has been hot over the past few weeks because of Gold. $.95 up 8%
Today's Biggest Gainers - December 29th, 2008
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1 and 3 Month Libor Rates - 12/29/08 - Today's Libor Rates
It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 12/29/08, are: 1 Month Libor Rate - .461% & 3 Month Libor Rate - 1.459%. The overnight Libor rate is .138%. As you can see, Libor Rates have changed today, December 29, 2008. All three Libor rates have gone down today which is a great sign for the equity market.
Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Sunday, December 28, 2008
Dow Jones Futures 12/29/08 - Nikkei Open
How will the stock market open on 12/29/08? The Dow Jones Futures are set to open higher on Monday, December 29th - 2008. The Dow Futures were down 100 at one point last night.
Stock Market Futures - 12/29/08 - Update 7:00am
Dow Jones Futures - Up 36
Nasdaq Futures - Up 6
S&P 500 Futures Up 3
Nikkei Close - 8747 Up 8
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Stock Market Futures - 12/29/08 - Update 7:00am
Dow Jones Futures - Up 36
Nasdaq Futures - Up 6
S&P 500 Futures Up 3
Nikkei Close - 8747 Up 8
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Dow Jones Analysis 12/29/08 - Stock Market
The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/28/08 , 12/29/08
Dow Jones Support & Resistance Levels - December 29, 2008
Support Levels: 8500, 8300, 8150
http://stockcharts.com - Chart
http://stockcharts.com - Chart
The Dow Jones closed back over key support of 8500 on Friday so I am currently bullish. As I have been saying lately, 8500 is the key area right now that you want to be watching.
I am very cautious however as the Dow appears to be starting to break down again. The Dow formed a double top at 9000 and has since broke back below the 10 day and 50 day moving averages.
Key support levels after 8500 would be 8300 and 8150
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Nasdaq Analysis 12/29/08 December 29, 2008
The following is Technical Analysis for the Nasdaq ( NAS ) for 12/28/08, 12/29/08
Nasdaq Support & Resistance Levels - December 29, 2008
Support Levels: 1500, 1450
http://stockcharts.com - Chart
The Nasdaq continues to trade above the key support level of 1500 which is bullish. However, proceed with caution as the Nasdaq is once again trending below both the 10 day and 50 day moving averages.
This coming week will be a light volume one so i'm waiting for the volume to come back to see which direction we are going next.
The Nasdaq has resistance at 1545 and 1560 while support is 1500 and 1450.
http://stockcharts.com - Chart
The Nasdaq continues to trade above the key support level of 1500 which is bullish. However, proceed with caution as the Nasdaq is once again trending below both the 10 day and 50 day moving averages.
This coming week will be a light volume one so i'm waiting for the volume to come back to see which direction we are going next.
The Nasdaq has resistance at 1545 and 1560 while support is 1500 and 1450.
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