Stock Market 2/27/09 - February 27, 2009

Today, 2/27/09, the Stock Market Futures are lower this morning as the financial stocks are tanking in pre market so far. Citigroup ( C ) is trading at $1.95 as we get additional details of the government 40% stake in the company. Below are some of the things I will be watching today.

Stock Market - Things to Watch - February 27, 2009

• Financial Stocks are tanking - new details on the Citigroup stake by the Government reveal that this company is toast and the Government has basically taken this bank over.
  
• FAZ rising, FAS tanking
• GDP Figure Due out at 8:30am - Update: Down 6.2% Yikes!
• Gold spiking back up after hitting support around the $925, 930 level - Gold is $953
• Watching the key technical support levels for the markets... Dow 7105, S&P 500 741, Nasdaq 1384....in pre market, the Dow is testing 7000 and the S&P 500 is 731

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

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Hogan Bottom 2/12/09 February 12, 2009

Today, 2/12/09, the Dow Jones is testing the Hogan Bottom at 7773.81 and it has held. The Dow Jones just hit 7774.98 and is now trying to bounce.

Why is the stock market going down today?

We are basically testing the lower end of the recent range due to the uncertainty on the banking plan by Timothy Geithner. On Tuesday, we fell 381 on the Dow Jones and the overall stock markets crashed because of the banking plan failure. Until we get some clarity of an actual plan instead of stated goals which we already know about, stocks are vulnerable. I don't expect this for weeks!

As I write this, the Hogan Bottom has been violated. If we close below the Hogan Bottom, the next support level is 7500. The Nasdaq is holding up well, over 1500 , but we all know this can change fast!

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Stock Market Report 1/12/09, January 12, 2009

Why is the stock market going down today? The Dow Jones, Nasdaq, and S&P 500 are all very weak during the first half of trading today. Here are a few reasons why the major averages continue their downward slide.

- Earnings Season is Here - Alcoa AA, a key Dow Jones component, releases earnings tonight and Wall Street is sending shares of this company down almost 8% ahead of this report. This alone is adding pressure to the Dow Jones Average.

- Oil Prices Continue to Fall - After hitting $50 last week, Oil is back under $38 today and this is sending commodities stocks lower. Look at Potash ( POT ) for example, down 10.3% today on no news.

- Citigroup ( C ) Breaking Down - Citigroup continues to break down breaking the $6.51 low from late December. Support is at $5.94 from early December and if this level is take out, look out below. If Citigroup starts free falling like it did back in November, the market could get spooked once again. Keep an eye on Citi!

- Low Volume - There is just no volume in the market today, a few big sells can really hit the markets hard when you have a lack of volume and buyers.

- Dow Jones Testing 8500 - It was bound to happen sooner or later, the Dow Jones is back testing 8500, today and tomorrow could be big technical days.

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