The following is a report on Dry Bulk Shipping Rates for 12/10/08. 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. Most of the stocks above are getting a huge bounce today as the stock market bounces back. This could be due to the fact that the Baltic Dry and Baltic Cap index have been rebounding lately. Nevertheless, these indexes are down almost 95% from the highs as iron ore shipments have come to a halt.
Dry Bulk Shipping Rates - December 10, 2008
Baltic Dry Index ( BDI ) - 691 Up 12
Baltic Cape Index ( BCI ) - 1058 Up 67
Baltic Panamax Index ( BPI ) - 450 Down 16
Baltic Supramax Index ( BSI ) - 511 Down 12
Past Bulk Shipping Rates
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Showing posts with label december 10. Show all posts
Showing posts with label december 10. Show all posts
Wednesday, December 10, 2008
Dow Jones Open 12/10/08 - Stock Market
This morning, the Dow Jones and Stock Market's are opening higher but seem to be weak as we await the potential auto bailout decision today, 12/10/08. Oil is gapping higher over $44 per barrel. This is something to watch. I am watching for the USO to break above $36.20 for a possible reversal to the upside after falling from $45 per share in the past few weeks. Pre Market volume was very strong. Dryships ( DRYS ) continues to run with the bulk shipping stocks but is off the highs. I am not doing much today, just waiting for the Auto Bailout Decision and watching how the market reacts. The markets are looking toppy short term but this auto bailout will move them one way or the other. The only thing I own right now is a small position in QID.
Stock Market Opening Prices December 10, 2008
Dow Jones Open - Up 70
Nasdaq Open - Up 16
S&P 500 Open - Up 8
Today's Biggest Gainers
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Stock Market Opening Prices December 10, 2008
Dow Jones Open - Up 70
Nasdaq Open - Up 16
S&P 500 Open - Up 8
Today's Biggest Gainers
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Meredith Whitney CNBC 12/10/08 - December 10
Meredith Whitney from Oppenheimer was on CNBC 12/10/08, and gave her comments on where she stands on the credit crisis and the housing market.
Meredith, what are your current fears? I fear the consumer has not been a part of what happened to wall street and the massive liquidity problem that has gone on with the banks. Consumers now risk losing their jobs, having liquidity withdrawn because of the problem. Banks will start to cut credit card lines and some consumers will be not be able to get credit cards and this will cut consumer spending in a big way. As you know, the consumer fuels our economy.
Financials ( BIG BANKS ) will be on life support for the next 18-36 months, they won't fail but they won't grow for the next two years. These banks are getting diluted and it doesn't help shareholders.
Asset prices continue to go lower, 5 banks are funding 2/3rds of mortgage market.
I am Expecting home prices to fall another 20%, homeowner rates will get cut back to 65%.
Is there anything we can do? We have to have big banks to survive for a confidence point of view. We have to have money help the regional banks to get money flowing through the system. I don't think there is anything you can do for the mortgage market however. The housing market problem is to big to fix. This is not an apocalyptic situation however, because housing prices doubled since 2000 so a 40% correction has just put many people in a bad situation. It does affect new buyers because they don't want to buy a house if they fear it will be worth less in a few months.
View all of Meredith Whitney's comments right here.
For more stock market updates, visit, http://daytradingstockblog.blogspot.com/
Meredith, what are your current fears? I fear the consumer has not been a part of what happened to wall street and the massive liquidity problem that has gone on with the banks. Consumers now risk losing their jobs, having liquidity withdrawn because of the problem. Banks will start to cut credit card lines and some consumers will be not be able to get credit cards and this will cut consumer spending in a big way. As you know, the consumer fuels our economy.
Financials ( BIG BANKS ) will be on life support for the next 18-36 months, they won't fail but they won't grow for the next two years. These banks are getting diluted and it doesn't help shareholders.
Asset prices continue to go lower, 5 banks are funding 2/3rds of mortgage market.
I am Expecting home prices to fall another 20%, homeowner rates will get cut back to 65%.
Is there anything we can do? We have to have big banks to survive for a confidence point of view. We have to have money help the regional banks to get money flowing through the system. I don't think there is anything you can do for the mortgage market however. The housing market problem is to big to fix. This is not an apocalyptic situation however, because housing prices doubled since 2000 so a 40% correction has just put many people in a bad situation. It does affect new buyers because they don't want to buy a house if they fear it will be worth less in a few months.
View all of Meredith Whitney's comments right here.
For more stock market updates, visit, http://daytradingstockblog.blogspot.com/
Dow Jones Futures 12/10/08 - Stock Market
How will the Stock Market open today, 12/10/08? The Stock Market and Dow Jones Futures are pointed higher this morning as the Auto Bailout is getting closer to a done deal. The White House and Congress reach in agreement on principle on 15 billion dollar bailout for the big three automakers. A government car czar would be appointed by President Bush as well.
In other news, after yesterdays close, Electronic Arts ( ERTS ) warned on earnings, Rio Tinto ( RTP ) plans to cut 14,000 jobs.
From a technical standpoint, we are looking good for the Nasdaq and Dow Jones for the remainder of the year.
Stock Market Futures - December 10th, 2008
Dow Jones Futures - Up 142
Nasdaq Futures - Up 17
S&P 500 Futures - Up 13
Today's Biggest Gainers - Pre Market
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In other news, after yesterdays close, Electronic Arts ( ERTS ) warned on earnings, Rio Tinto ( RTP ) plans to cut 14,000 jobs.
From a technical standpoint, we are looking good for the Nasdaq and Dow Jones for the remainder of the year.
Stock Market Futures - December 10th, 2008
Dow Jones Futures - Up 142
Nasdaq Futures - Up 17
S&P 500 Futures - Up 13
Today's Biggest Gainers - Pre Market
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Tuesday, December 9, 2008
Dow Jones Analysis 12/10/08 - Stock Market
The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/10/08
Dow Jones Support & Resistance Levels - December 10, 2008
Resistance Levels: 1600
Dow Jones Support & Resistance Levels - December 10, 2008
Resistance Levels: 1600
The Dow Jones attempted to break 9000 yet again but failed today right at the 50 day moving average. We are right in the middle of the current trading range of 8600-9000. I am expecting a major move in the Dow Jones within the next week as the 10 day and 50 day moving averages are coming close together, something usually has to give. As of now, I am still bullish as we are still above the 10 day moving average but if we would close below 8500 support, it could set up more downside pressure. On the upside, a close over 9000 would be very bullish and we could have yet another rally higher to test the 9653 high. As long as we remain over 8500, I think we are OK! More Technical Analysis - Go HERE
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Nasdaq Analysis 12/10/08 - December 10, 2008
The following is Technical Analysis for the Nasdaq ( NAS ) for 12/10/08
Nasdaq Support & Resistance Levels - December 10, 2008
Resistance Levels: 1600
Resistance Levels: 1600
Support Levels: 1536, 1500
http://stockcharts.com - Chart
The Nasdaq reversed today after touching 1600 resistance and going up 200 points in just four trading days. The Nasdaq currently has support around the 1536 level and also major support at the 1500 area. If you get a close above 1600 you could be looking at another move higher not to mention a close over the 50 day moving average ( Red Line ). The Nasdaq hasn't closed over the 50 day moving average since August so this would be a very bullish signal and would bring in more buyers. If you close under 1500 you would be looking at a retest of 1400-1450.We are right in the middle of support and resistance so we could go either way, but it appears like we are in a new trading range, from 1500 to 1600.
http://stockcharts.com - Chart
The Nasdaq reversed today after touching 1600 resistance and going up 200 points in just four trading days. The Nasdaq currently has support around the 1536 level and also major support at the 1500 area. If you get a close above 1600 you could be looking at another move higher not to mention a close over the 50 day moving average ( Red Line ). The Nasdaq hasn't closed over the 50 day moving average since August so this would be a very bullish signal and would bring in more buyers. If you close under 1500 you would be looking at a retest of 1400-1450.We are right in the middle of support and resistance so we could go either way, but it appears like we are in a new trading range, from 1500 to 1600.
For more Technical Analysis, go HERE
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