Jefferies Group, Inc. (JEF) Stock - New 52 Week Low

November 3, 2011 - Jefferies Group, Inc. (JEF) stock plunged down to $9.79 on Thursday after an analyst slashed It's rating on the company. Jefferies Group, Inc. (JEF) was halted several times due to circuit breakers put in for the stock. After Jefferies Group, Inc. (JEF) released a statement regarding their European exposure, the stock rebounded. Keep an eye on the $11 level on JEF. The stock seems to be holding $11 quite nicely and if we would see a close below that level, I think we could see JEF test the low $10's. If Jefferies Group, Inc. (JEF) stock breaks $9.80 at any point down the road, go short.

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What is Hogan's Bottom? Art Hogan Bottom CNBC

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