Stock Market 10/27/08 - Dow Jones Futures - October 27th, 2008

10/27/08 Pre Market Trading Report:

Today, October 27th, 2008, the Dow Jones Futures and all stock market futures for that matter are headed much lower. The Dow Jones Futures in pre market are Down 330 points, Nasdaq Futures, Down 51 points, S&P 500 Futures, Down 40 points.

The stock market is headed for another scary open today, 10/27/08, and it all started last night in the Asian and European stock markets. The Hang Seng stock market was down 12.7% and the Nikkei tumbled another 6.4% to hit a 26 year low. Click here for Fridays Analysis

Asian Markets - European Markets
Tokyo's Nikkei 225 index closed down 6.4 percent to 7,162.90 -- the lowest since October 1982. Hong Kong's Hang Seng Index tumbled 12.7 percent to 11,015.84, its lowest close in more than four years and biggest daily decline since 1991.

European markets followed Asia lower, with benchmarks in Britain, Germany and France trading down more than 4 percent in early trading. The FTSE 100 index was 190.31 points, or 4.9 percent, lower at 3,693.05, while Germany's DAX was down 182.81 points, or 4.3 percent, at 4,112.86. France's CAC-40 was the worst performing European index, down 184.65 points, or 5.8 percent, at 3,009.14.
Oil is down $1.78 to $62.37

Art Cashin 10/24/08 - Sign of a Bottom Capitulation

Art Cashin is a floor trader in the NYSE and is one of the best market direction predictors we have. His predictions are incredible.

So with the markets crashing this morning Art Cashin calmly came on CNBC and gave his predictions:

Art Cashin has been calling for this ugly capitulation move all week when the market failed to move higher when the Dow was trading above 9000 this week. Art says if this downturn happens his way, we will see a huge move down today followed by a jaw dropping rally that could last many months. He says it could all be taken care of today but the selling could last into Monday, 10/27/08. Art Cashin says this will be a move in the stock market we will be talking about for a long time.

What do to? Put in " silly bids"

Art says if you like a stock at $20.....put in limit orders for $11 and $13...and maybe even $8....sell puts, atleast you will get paid to lose money.

Stock Market 10/12/08 - Dow Jones, G7 Meeting, Morgan Stanely ( MS )

What is in store for next week in the stock market? All eyes are on the G7 meeting this weekend and so far nothing much has come out of it. The US will start buying stakes in the US banks....this is positive but not enough. Monday 10/12 & Tuesday 10/13 could get real ugly if nothing comes out of this G7 meeting......which in my opinion is the reason the stock market had that explosive rally upward at the end of the day today.

All eyes will also be on the Morgan Stanley ( MS ) deal ......if that doesn't close look out below!

I have been buying the big dips and selling the rips....until further notice...

General Motors ( GM ) 10/9/08 Dow Jones

General Motors was downgraded to credit watch negative.....plunging ( GM ) shares 30% to close around $4.90 per share.

The Dow Jones Average crashed 678 points today to 8579. So what is the problem? Tons of sellers, and very little buyers. Many big funds are stuck in stocks at significantly higher prices and have been forced to sell....or when we do get a big of a rally, they sell. Today's plunge took about 45 minutes.

A sign that this would happen: Many of the European Banks sold hard into the close earlier today in the Europe markets so that gave me a hint to this happening.

We are due for a major rally off the lows.....1000 - 1500 points but where those lows will be is a good question!

I'd like to see capitulation tomorrow morning so we can finally put in a bottom. I'd like to see a major gap down..... maybe hit 8,000 on the Dow and then a stampede of buying with heavy volume. The problem is we always get these big down days and rally right after them. At this point, we need everyone to puke up stocks and that will attractive big buyers. The sooner we get this over with, the sooner we will move higher!

The Asian markets will crash tonight....you will see losses you never would have thought possible. In Asia tonight, it is Friday over there.....last day of trading for the week. They have no idea how we will trade tomorrow so it will be worse for them!

My Stock Shopping List: GOOG, AAPL, FCX, ENER, V, MA....these are the stocks I am looking at buying on the cheap.