Dow Jones analysis 9/02/08 - Dow Jones Average Technical Analysis

The Dow Jones closed at 11,543.55 on 8/29/08. It was a very low volume day and all of last week was very low on the volume due to the late summer months when most people go on vacation. The Dow opened just below 11,700 and sank all day.

Key Factors: McCain selecting Sarah Palin as the VP candidate, Dell Earnings, Hurricane Gustav and the impact it may have.

Dow Jones Technical Analysis:

The Dow has made a pretty nice base for itself around the 11,400 area over the past several weeks. Looking at the Dow Chart, we need to continue to hold the 10 day moving average on a closing basis which is currently at 11453. A close below this and more selling pressure will arrive. Technicians use this moving average to gauge overall market strength for the short term. Technicians use the 50 and 200 day moving averages for the long term.

Dow Support and Resistance: The Dow has support at 11,453 and 11,390. Resistance is 11715 and 11867. When we clear this you will not want to be caught short. A big move higher could follow for the Dow.

For the week of 9/2/08 - 9/05/08.....look for some bigger volume and watch these important levels described above. The volume will really come back 9/08/08 and beyond.

BIDU - Baidu.com stock analysis 8/29/08 - BIDU technical analysis stock chart 8/29/08

BIDU has continued to report blow out earnings and the company expects baidu.jp to start recording revenue by the end of 2008. $300 is your major support level here...a close below this and I will be getting out and waiting. $330 is resistance from the high this week, followed by $343.97 and $353.37. Once $330 is closed above, I think $300 will hold going forward into the end of the year. Bidu has the potential to have a huge breakout period into 2009. Watch $330 and $300 closely!!

AAPL - Apple Stock Analysis 8/29/08 - AAPL technical analysis August 29th, 2008

Apple (AAPL) in the short term has support at $171.81 and the $170 level. What your really looking for is a close over two key resistance points of $180.45 and the $183 level....if these levels can be cleared....you could see $190's quickly as traders pile in on the long side. A close above $193 would start a new uptrend and new highs would be ahead. Pullbacks to the 200 day moving average should be bought!

Visa ( V ) Analysis 8/29/08 - Visa ( V ) Technical Analysis - Visa Stock 8/29/08

Visa ( V ) has been looking strong lately....it has closed above the 50 Day Moving Average for the first time since late June. Is the V downtrend over? I'd like to see a close above the two resistance points $76.53 and $78.79 before this is confirmed. If the downtrend is broken, you could see a run back to $85 very quickly, which there is MAJOR resistance. Pullbacks below $70 should now be bought, a close over $90 would be very bullish.

Things are looking up for the Visa ( V ) Stock Chart!

ABK, MBI analysis 8/29/08 - Ambac, MBIA support and resistance 8/28/08

ABK and MBI are looking a little weak in pre market today thanks to the lower futures by Dell Computer. Dell completely below it last night missing by .05 cents per share.

http://daytradingstockblog.blogspot.com/2008/08/abk-mbi-hot-stocks-82808-ambac-mbia.html

Ambac and MBIA went up 35-40% yesterday so some profit taking is expected.

Support and Resistance Levels ( ABK ) & ( MBI )

MBIA - MBI has support around $15.50 - $15.70 area.....a break below this with some volume and $15 would be tested and possibly $14.40's could be tested....this was a solid support level 8/28/08. A close below $14.40 and you will need to bail....this would be a breakdown of the 8/28/08 trading action. Resistance will be yesterdays high of $16.29 and the close of $16.15.

Ambac - ABK has minor support in the $7.10-$7.16 area, then support at around $6.90. Ambac went straight up yesterday from about $6.05 to $6.40....then paused for a half hour, followed by the explosion to $6.90. Resistance will be yesterdays high of $7.58 and the close of $7.42.

Hope this helps!!

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ABK, MBI Hot Stocks 8/28/08 Ambac, MBIA August 28th

On August 15th, I wrote about Ambac ( ABK ) when it was in the $5's. I stated it has resistance in the low $8's and it looks like we could test that by next week.

Ambac ( ABK ) and MBIA ( MBI ) are surging today after MBIA To Reinsure $184B Of FGIC's Municipal Bonds.

MBIA Inc. (MBI) said Wednesday it will reinsure a $184 billion portfolio of U.S. public finance bonds insured by the troubled Financial Guaranty Insurance Co.
The Armonk, N.Y., bond insurer will pay a ceding fee of about $197 million and will receive about $741 million in unearned premiums for reinsuring the municipal bonds.
Premiums are booked over the length of an insurance policy's coverage period, so an insurer would have earned only 50% of the premiums paid on a one-year policy six months into that coverage period.
The deal resulted from a competitive process overseen by the New York State Insurance Department, which must approve the specific details.

MBIA is up 34% to $16.05
Ambac is up 37.5% to $7.21

( MA ) Mastercard 8/27/08 Analysis - MasterCard Technical Analysis August 2008

The following is technical analysis on Mastercard ( MA ) 8/27/08.

Mastercard MA chart looks really ugly...a close below $230 would be very bad...but there are signs that MA has found support in the $230-$240 level. A close above $250 is what you really want to see....this would get me to go long. A close over $250 and a test of $270 and $290 would be near. These will be two very tough resistance levels and you will want to sell into this.
If Mastercard closes below $221 at any point....$200 would porbably be tested....this should hold unless some REALLY bad news would be out on this stock....I just can't see that being broken. Mastercard is a great company.

PDO Technical Analysis - Pyramid Oil Stock Analysis 8/27/08

The following is technical stock analysis for Pyramid Oil Company ( PDO ) 8/27/08:

PDO reported great earnings two weeks ago....as a result, a big move higher. PDO seems to have found support around the $13 level so this should be bought. A close above $15.24 and PDO could really move higher if it gets volume. $16.59 is the 50 day moving average...that could have some minor resistance there. Keep an eye on Oil prices...this is a great way to play oil.

Pyramid Oil has delivered two straight blowout earnings quarters and PDO stock is on many day traders radars.

Durable Goods Orders ( July 2008 ) up 1.3%

Some good economic data coming out.....July 2008 Durable Goods orders were up 1.3% for the month.....up .70% when you strip out Transportation!

Market have spiked on this news......but keep an eye on Hurricane Gustav!

( POT ) Potash Technical Analysis 8/27/08 - Potash Analysis Chart

The following is technical analysis for Potash ( POT ) for 8/27/08.

Pot has topped out at $186.44 last week and now is trending just above the 10 day moving average. POT now has strong support at $170 which is the 200 day moving average. If this level is closed below....you could have another leg down. A close above $186.44 and POT will test $190 resistance.

$190 had been major support since mid April...although POT broke through this level several times, it never closed below $190 until early August...you see the end result...down to $157.........$190 will be strong resistance from here out. A close above $190 and POT can start to recover. Use a tight stop however!