Stock Market 3/14/09 Dow Jones Report

The Stock Market was up big this week with financials leading the charge. The Dow Jones, Nasdaq, and S&P 500 were up four straight days starting on Tuesday. Check out my technical analysis for Monday. As you can see, we are approaching major resistance areas near the 50 day moving average.

Stock Market Report - March 14, 2009

Next week will be an interesting week as we see if these recent stock market gains can hold. Sunday night Ben Bernanke will kick things off with an appearance on 60 minutes. He will follow things up with a Fed meeting on 3/17 & 3/18.

General Motors ( GM ) - So GM stock rallied big this week going from about $1.55 to $2.85, closing at $2.72. General Motors told the Government they will not need the 2 billion in March as their cost cutting measures working. However, they will still need to huge loan to get by and it could be as much as 14.6 billion.

GM, struggling to avoid bankruptcy amid a global sales slump, has been surviving on the federal loan it won in late December. The administration's auto task force faces a March 31 deadline to decide whether to give GM and Chrysler additional loans.

GM News afterhours 3/13/09 - GM stock down 12% tonight as they try to get Europe to bail them out. GM, which is on the verge of bankruptcy and bailed out by the U.S. government, is seeking for a 3.3-billion-euro bailout for Opel, GM Europe's major part, from European governments while looking for buyers. Also, GM Recalls 277,000 Vehicles For Gear Problem.


TALF - What is Talf? Next week, the deadline for the first wave a TALF will close. The Fed announced it was extending TALF by two business days. This announcement extends the deadline for recording TALF loans until the close of business on March 19. The settlement/disbursement date remains March 25 for this first wave of TALF lending. The TALF seems to be the lone Government program that might actually work!


Stock Watch 3/16/09 - These stocks were hot on Friday, keep them on your stock watchlists for Monday.

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Stock Market Report March 12 2009 3/12/09

The Dow Jones and Stock Market Futures are pointing to a lower open as world stock markets went lower overnight.

Stock Market Report 3/12/09

- On Thursday, revised figures showed that Japan's economy, the world's second largest, suffered its biggest contraction in 35 years in the fourth quarter. Gross domestic product shrank at 12.1 percent annual rate in the October-December period, less than the Cabinet Office's preliminary reading of a 12.7 percent contraction, but still confirming a serious recession.

- Roche ( ROG ) and Genentech ( DNA ) Reach a Friendly Agreement to Combine the Two Organizations and Create a Leader in Healthcare Innovation.
- Roche intends to acquire all outstanding shares of Genentech for $95.00 per share in cash

- Oil prices: Oil Prices are rising this morning after getting crushed yesterday. Oil is higher by .90 to $43.23 in early trading.

- Gold Prices: Gold prices are rising as well on March 12, 2009. Gold is back at the $917 level.

- Key Stock Movers: Financial Bear 3x ( FAZ ) stock is up 7% to $60 per share as the financials are indicated weaker today. Financial Bull ( FAS ) stock is down 6.37% to $3.76. Along with these two stocks, HSBC ( HBC ) is up 5% to $24.84 and Citigroup ( C ) is down 5.84% to $1.45

- 10 Day Moving Average: The stock market indexes appear like they will test their 10 day moving averages today. The 10 day moving average should offer some nice support and this is where i'd expect new buyers to be located. If we close two days under the 10 day, this rally could be in serious trouble. Today will be a big test!

- Mark to Market: Today there will be a Congressional Hearing on mark to market. This is just a hearing to gather facts, this rule will not be changed today.

- Bernie Madoff: Bernie Madoff just got dropped off in Manhattan courthouse which could be his last steps as a free man. Madoff is expected to plead guilty on a $50 billion stock market ponzi scheme. Some of the victims will be present and they will be making statements to him.

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Stock Market 3/6/09 March 6, 2009 Wall Street Report

Today, March 6, 2009, all eyes are on the employment report ( or in this case unemployment report ) that will be released at 8:30am est. Estimates are for the US to have lost 650,000 jobs in February 2009. The unemployment rate is thought to have spiked to 7.9% Anything less would rally the market, anything more could still rally the market but if its over 750,000 we might have some problems. I will list the jobs report data here when the numbers are released.

Jobs Report 3/6/09

Jobs Number - ( Loss of 651,000 )
Unemployment Rate - 8.1%
January Revision - ( was -598,000 Now -655,000 ) December Revision ( was - 577,000 Now -681,000 )

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Stock Market 3/5/09 March 5, 2009 Wall Street Report

Today, 3/5/09, the stock market futures are indicated lower after the quick sell off at the close yesterday. This has happened during the the past 4 trading sessions. That final 15 minutes can be brutal. Oil prices are falling to around $44 as Gold prices are rising to $916. The following news is the reason the stock market will be down today.


Wall Street Report - 3/5/09

General Motors ( GM ) - GM auditors raise doubts on automaker's viability, GM auditors cite losses, lack of cash flow in raising doubts about its viability.

General Motors Corp.'s auditors have raised "substantial doubt" about the troubled automakers ability to continue operations. The company revealed the concerns, raised by the accounting firm Deloitte & Touche LLP, in its annual report filed on Thursday. Full Article

General Electric ( GE ) - Keith Sherin CFO was on CNBC this morning and said the selling due to the potential capital risk is overdone. " There are no triggers that would put sudden strain on cash position. "
- GE Capital will be profitable during the first quarter
- Only 2% of GE capital is subject to mark to market

General Electric shares have tanked over the past several weeks on fears of a rating downgrade. Yesterday, Bill Gross talked about what he thinks is going on.

Also, if GE stock would fall below $5, most Mutual Funds would be forced to sell due to the fact that they don't holds stocks under $5. You saw this happen to Citi and B of A stock.


Other factors causing today's stock market plunge are the bank stocks. BAC and HSBC are both significantly lower in pre market trading.

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Stock Market 3/4/09 March 4, 2009 Dow Jones Report

Today, 3/4/09, the stock market futures are indicated higher after the quick sell off at the close yesterday. Oil is really spiking this morning and gold prices are slightly higher.

Last night, there were two companies the the tech sector that disappointed.

- Google Inc. (GOOG) Chief Executive Eric Schmidt said Tuesday the economic situation is "pretty dire," adding that he does not expect to see improvement until 2010
.
"Everyone is assuming 2009 is a tough, tough year. Schmidt struck an optimistic note when discussing Google's opportunities in the mobile search and display advertising businesses. He predicted that mobile search ad revenues would surpass PC-based paid search sales with a "few years," as opposed to a few decades.

Schmidt pointed to Japan as a leading mobile market in which Google has established partnerships with two of the top three mobile providers. He said the company is now attempting to replicate those types of deals, with the "obvious prize" in China.

- Palm Inc. (PALM) warned that its fiscal third-quarter sales would be well below Wall Street expectations, illustrating the rapid decline of its aging product portfolio.

With no new products hitting the market, few were expecting much until the launch of its Palm Pre later this year. But no Wall Street analyst anticipated such a dire performance.

"The much-anticipated launch of the Palm Pre remains on track for the first half of calendar year 2009, but as expected we've got a difficult transition period to work through," said Palm President and Chief Executive Ed Colligan.

If the Nasdaq breaks the 1295 low, it could get really ugly. Just look what happened when the Dow broke 7449 and S&P 500 broke 741.

Check out my technical analysis of the stock market for support levels and resistance levels.

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

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Stock Market 3/3/09 March 3, 2009 Dow Jones Report

The Stock Market Futures are indicated higher in pre market today, March 3rd, 2009. After Asian Market hit fresh lows last night they began to bounce. The Nikkei 225 index was only down 50 points. The Reserve Bank of Australia was expected to slash interest rates but they ended up keeping rates the same. This is viewed as very good news for the world markets, or atleast down in Australia.

Pre Market so far indicates that bank stocks are going to get a bounce today. Citigroup is back to $1.34 Up 11% and Bank of America is up 5%. Keep in mind, this can all change very quickly!

This afternoon Auto Sales come out for the big 4 auto makers which includes Toyota. Sales are supposed to be horrible but for the most part they are already priced in.

Gold is falling again to support of around $925, the next support level for Gold Prices would be around the 875 area. Oil is rising to around $41 after falling hard yesterday. Oil was actually trading around $39.50 last night at one point.

The biggest events besides auto sales today will be separate hearings, in Washington, from Timothy Geithner and Ben Bernanke. The market could move on things that they say or new information revealed.

Check out my technical analysis of the stock market for support levels and resistance levels.

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

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Stock Market Report February 4, 2009 2/4/09

Today 2/4/09, the stock market futures are bouncing due to the ADP employment report released at 8:15am. The ADP report showed a loss of 522,000 jobs in the private sector. This news is actually better then expected and you might see stocks rally today. The big number comes on Friday, Feb 6th, as the Government will release the real employment report. This employment report will include the unemployment rate and how many jobs the US lost in January. I will also be looking to see if they revise down the December report since Wall Street did not seem to believe the data.

I will be watching key technical levels today on both the Nasdaq and Dow Jones. I feel the stock market cannot have a sustainable rally until our Government provides some clarity on the banking situation. We need to get these toxic assets off their books somehow or these banking stocks will continue to slide. This will drag the rest of the market down with it. We also need some clarity on the stimulus package.

Oil Markets February 4, 2009

Oil is rising back above $41 today as we await oil supply data coming out later this morning. Oil is finally starting to go up on bad news, the best indicator if you are trying to find a market bottom. If Oil gets back above $43 I think you could test $48-$50 resistance area. Opec is talking about cutting more supplies which is good for the oil market.

Stocks to Watch - 2/4/09

DryShips ( DRYS ) - Drys seems to be back at it again but will now have resistance at around $7.28. I only like this stock over $10, but that's just me. A guest was on CNBC this morning talking about the Baltic Dry Index and says it is improving. This would be good for the world economy. Today, the BDI was up huge and has been up for 13 straight days. This is huge for the bulk shipping stocks.

Disney ( DIS ) reported worse then expected earnings...the stock is down 5%

News Just out: Commercial real estate prices are falling fast! Commercial real estate loans are defaulting at a higher rate.

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Stock Market Report 1/7/09 - January 7, 2009

The Dow Jones and Stock Market look weaker in pre market due to several factors.

Stock Market Report January 7, 2009 - Pre Market

Intel just came out and warned that 4th quarter sales will be down 23% to 8.2 billion. This bit of news is sending technology stocks down this morning but is sending ultra short ETF's such as the QID up significantly.

ADP employment report out this morning was down right ugly! The ADP report shows a loss of 693,000 jobs for the month of December. The Government Jobs report will be out Friday so we will have to see what the official number is but most importantly how the stock market reacts to the news.

Lastly, the Saytem ( SAY ) CEO has come out this morning and stated he has inflated earnings over the past few years and has resigned. This is sending shares down 90% and I believe the stock is halted. Another fraudulent scam that is shocking Wall Street. Who can you trust?

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