Carter Worth CNBC 11/03/08 - Election

Carter Worth - Chief Market Technician at Oppenheimer was on CNBC today, 11/03/08 and gave some stock market analysis:

This week could be the biggest week for data in the last decade. We think all the data you will get is all priced into the stock market. The rebounding action should continue over the next few weeks. We think you should be long, not short this stock market.

A McCain victory is not priced into the market but an Obama victory is.

Regional Banks & Insurers are showing signs of life, this is positive for the markets.

Another thing that could really cause the stock markets' to go down is a employment number that is more then 250,000 jobs lost for last month.

We are still bullish!

http://daytradingstockblog.blogspot.com/

1 and 3 Month Libor Rates 11/03/08

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 11/03/08, are: 1 Month Libor Rate - 2.31% & 3 Month Libor Rate - 2.86%. The overnight Libor rate is 0.39%. Libor rates have sunk for the past week, especially after Bill Gross came on CNBC Monday and predicted Libor to fall!

This has been a major reason why the stock market has rallied so much this week.Compare today's Libor rates to yesterdays Libor rates.

For more on today's stock market action, visit, http://daytradingstockblog.blogspot.com/

Dow Jones Open 11/03/08 - Stock Market

The Dow Jones and Stock Market opened today, 11/03/08, mostly flat from Friday's close. The ISM number came out and was very bad, but the market seems to already have priced most of this bad data in. The Dow Jones is trading at 9346 up 22 points. As you know, this can all change really fast but for the most part it looks like a good day. Be sure to check out Art Cashin's election comments from this morning.

Stocks to Watch 11/03/08:

I'm watching the Stem Cell Stocks for a possible trade later today and into tomorrow. These stocks ripped higher four years ago when there was an election. It's looking likely Obama will pull this election out and Democrats favor stem cell research. This could give these stocks further upside. Also, i'm still watching Las Vegas Sands ( LVS ) and Apple ( AAPL ).

For the latest updates, visit my front page.
http://daytradingstockblog.blogspot.com/

Stem Cell Stocks: 11/03/08 - STEM, ASTM, GERN

The Stem Cell stocks are exploding 11/03/08, the day before the Presidential Election as the polls favor Obama as the next President. The following Stem Cell stocks are ones I will be watching:

Stem Cells ( STEM ) $2.05 +42%
Aastrom Biosciences ( ASTM ) $.50 +25.61%
Geron ( GERN ) $4.30 +8%

Last Election, these three stocks exploded in anticipation Al Gore would win, and then they crashed when he didn't. If Obama wins, these three could see further upside.

http://daytradingstockblog.blogspot.com/

Apple ( AAPL ) down on FBR 11/03/08 - FBR iphone comments

Apple ( AAPL ) stock is down 11/03/08 as Friedman Billings Ramsey FBR is giving a horrible iphone forecast for the 4th quarter.

"Our most recent checks suggest to us Apple's iPhone production forecast is now under pressure. While our previous checks indicated that iPhone production would fall about 10% sequentially in calendar 4Q, our new checks indicate that iPhone production could fall more than 40% sequentially in 4Q."

"We believe a similar amount of production was removed from the calendar 1Q build forecast, though there is still plenty of time to modify that forecast should further revisions be necessary"

Apple AAPL has strong support at the $100 area so watch that closely!
http://www.blackberrystocks.com/aapl.html

http://daytradingstockblog.blogspot.com/

Art Cashin Election Comments 11/03/08 - CNBC

Art Cashin was on CNBC 11/03/08: Here is Art's election comments:

Two back to back up days in the stock market gives you some hope the markets are calming down for right now.

On Nov 4th ( 11/04/08 ) & Nov 5th ( 11/05/08 ) we might have a down cycle in the markets, but this fits into the election so we will have to wait and see. Those two days you might see the market struggle.

Oct 10th we made the intraday low and we said on the last Monday in October we would see a retest, we go it, i'm satisfied here, we don't have to go back and retest again, I think we can move sloppily sideways for awhile.

Elections and how it will effect the Stock Market: A few scenarios could play out here:

Obama gets in and takes total control of the house....that would spoke the markets and you could get some selling, I don't think this is priced into the market.

McCain squeaks in and you will have people saying the election was stolen and the markets would have problems for months to come.

The best scenario that is fully priced in is Obama winning but does not take full control of the House of Representatives.

http://daytradingstockblog.blogspot.com/

Biogen Idec ( BIIB ) Upgraded 11/03/08 - $55 Price Target

Upgrades 11/03/08

Biogen Idec ( BIIB ) has been upgraded November 3rd, 2008 by Robert W. Baird going from Neutral to Outperform rating with a new price target of $55 per share.

Also Upgraded 11/03/08, Bigband Networks ( BBND ) by Argus from Hold to Buy rating.

http://daytradingstockblog.blogspot.com/