Pre Market Trading - Stock Market 10/8/08

This morning 10/8/08 in the stock market, Europe and the United States pursued a global rate cut for the first time since November 2001. Stock Markets have been skyrocketing around the globe off this news. Dow Jones is up 200 points on this news, Nasdaq up 23, S&P 500 up 29 points.

Japans Nikkei went down 9.4% last night, the worst we've seen in that market since the crash in 1987. There was steep losses all across the globe before this rate cut.

Stock to Watch today: RBS, GOLD, LYG, GGP, HOV, LDK, SOV as these stocks are todays biggest gainers so far.

Day Trading 10/8/08 - What will I be trading today in the stock market? Apple ( AAPL ), Potash ( POT ), First Solar ( FSLR )....buy these stocks when they break through their high of the day and sell them when you get profits. Short them when they break the lows of the day.

For a good earnings calendar - http://blackberystocks.com

Alcoa AA Halted 10/7/08 Pre Earnings

Alcoa ( AA ) has been halted just after 4:01pm in afterhours tonight....pending earnings.

http://www.nasdaqtrader.com/Trader.aspx?id=Tradehalts

Ok, update... AA comes in with .33 cents per share.....53 cents expected.....big miss

Alcoa AA Earnings Preview 10/07/08

Tonight Alcoa steps up to the plate to kick off earnings season and will it be a volatile one!

Alcoa ( AA ) is expected to report earnings of .53 per share...a number that has been cut by analysts by 20% in the past several weeks.

I use Alcoa as an overall gauge of our economy. The earnings outlook for stocks in the US is very bleak all of a sudden. A nice number from Alcoa AA tonight could go a long way in stating there is to much pessimism in the markets right now.

For more earnings - view our calendar - http://blackberrystocks.com

Google ( GOOG ) & Stifel Nicolaus

Well, today Stifel Nicolaus has come out and cut their price target on Google ( GOOG ) AGAIN LOL, to $525 but still rates it as a buy. As you can see below, this firm cannot be trusted due to them acting " after the fact" For once, I'd like to see a rating firm get ahead of things....sort of like Meredith Whitney did on the financial banks a year ago. As you can see below...every time Googles stock price has gone down, they have cut their price target. When Google goes up, they raise their price target. My 92 year old grandpa could do that for you for free!

Stifel Nicolaus Track Record on Google ( GOOG )

10/07/08 8:25am Rated Buy - Current Price - $374 - Price Target $525
9/02/08 8:25am Rated Buy - Current Price - $479 - Price Target $600
5/05/08 8:25am Rated Buy - Current Price - $594 - Price Target $675
2/28/08 8:25am Rated Buy - Current Price - $468 - Price Target $610
2/01/08 8:25am Rated Buy - Current Price - $532 - Price Target $675
10/11/07 8:25am Rated Buy - Current Price - $634 - Price Target $710

So as you can see....Stifel maintains a buy when the price keeps falling...they also cut the price target...and as soon as Google goes up ( 5/05/05 ) they raise it LOL

Pre Market Trading - Stock Market 10/07/08

This morning Dow Jones, S&P, and NASDAQ are all rising in pre market due to a surprise interest rate cut in Australia which was the steepest rate cut in 16 years. The US and European markets hope that they are next. India also cut interest rates today.

All eyes and ears will be on Ben Bernanke as he will speak today and the Fed Minutes will come out. The credit markets have tightened somewhat but our system is still clogged. On the bright side, the bailout plan is moving at a much needed fast pace. We will have some major action in regard to the bailout plan next week.

Stock to Watch 10/7/08 - First Solar ( FSLR )
First Solar has been downgraded to sell by Goldman Sachs.....not sure why they waited this long to downgrade, but history says you can never trust these analysts. FSLR has fallen from $300 to $140....nice job guys! Shouldn't you have been downgrading at $300?

Other stock movers in pre market - AMD, NCC both up big time in pre market!

Today I will be day trading AAPL and POT as I did yesterday. This is where to major volume and price action is.

First Solar ( FSLR ) Downgraded Goldman Sachs 10/07/08

First Solar Cut To Sell From Buy By Goldman Sachs - Dow Jones Newswire

Carter Worth - Stock Market CNBC Fast Money 10/6/08

CNBC Fast Money Guest: Carter Worth Chief Technical Analyst at Oppenheimer

We blew through the lows of 2004.....basically puts us back into a decent support area.

Carter is making a call that we are in capitulation phase of the latest decline and is calling for a rebound. S&P 500 has declined 17% on this recent leg down, just like the previous two legs down this year.

Carter made the case on Fast Money tonight for a temporary rebound in the US markets.

Carter Worth has been dead on calling the market declines over the past few years.....hes debated it live with people completely disagreeing with him like day and night.

For more Technical Charts...visit http://blackberrystocks.com/charts.html

Stock Market Reversal 10/06/08 - AAPL, MELI, GOOG

This afternoon, the Dow Jones reversed 500 points off its low in about an hour after hitting 9,525.

One of the first stocks to reverse on my watchlist was MercadoLibre ( MELI ) which started reversing well before everything else reversed.

Apple Computer ( AAPL ) showed the most strength for a large cap stock and Google ( GOOG ) was a laggard, still down more then 4% on the day.

Mastercard ( MA ) followed right behind Meli showing major strength.

The Dow Jones is set to close back over 10,000 at 10,015

http://blackberrystocks.com
http://blackberrystocks.com/hotstocks.html

Dendreon ( DNDN ) Provenge Study

Markets are tanking....but Dendreon DNDN shares are up 33% today because the company says they will release their final study on Provenge in about 8 months.

Dendreon Corp. (DNDN) said an interim analysis of a late-stage study shows its Provenge prostate-cancer therapy shows a 20% death-risk reduction compared to placebo.
President and Chief Executive Mitchell H. Gold said the findings, similar to those seen in prior phase 3 trials, should be finalized in mid-2009.

The study was ordered in May 2007 after the Food and Drug Administration requested more data to support the drug's proposed efficacy claim. An FDA advisory panel had voted Provenge had proven itself safe and effective.

Dendreon has been looking to get Provenge approved as a treatment for asymptomatic men with advanced prostate cancer who have stopped responding to hormone treatment. The drug is a departure from other approved cancer therapies in that it acts by stimulating the body's immune system to fight cancer using the patient's own white blood cells.

http://blackberrystocks.com/hotstocks.html

Pre Market Trading - Stock Market 10/6/08

Another ugly day is in store for the US Stock Markets. Wall St does not like the material in the bailout plan as well as further credit tightening in Europe. The Russian stock market has halted trading for the second time today as that market has been plunging.

Dow Sub 10,000? At this point, it would almost seem as though we will test below 10,000 on the Dow Jones just to see whats there. Will buyers step up to the plate? Yes, we are in a vicious bear market, but we are deeply oversold and stocks don't go straight down without bouncing.

Stocks to Watch - Apple ( AAPL ) - Yes there will be slower sales in the coming year, but Apple is sitting on 21 billion in cash while their market cap is only 84 billion. First Solar( FSLR )..great earnings...many people think Solar stocks are tied to Oil prices....they are wrong. Solar stocks are tied to electricity prices. Biggest mistake investors make, selling a solar stock because oil is going down.