Dow Jones Close 10/27/08 - Stock Market Closing Prices, Libor Rates, Oil, Gold

Stock Market Closing Prices - 10/27/08

Dow Jones Industrial Average ( DJIA ) Close - 8176 - Down 203
Nasdaq Stock Market Close - 1506 - Down 46
S&P 500 Close - 849 - Down 28

Libor Rates - 10/27/08
1 Month - 3.22%
3 Month - 3.51%

Commodities Closing Prices - 10/27/08

Gold - 737
Oil - 62.15
Natural Gas - 6.13

The Dow Jones Industrial Average closed at 8176, down 203, on 10/27/08, as investors dealt with another Asian stock market crash overnight by the Nikkei and the Hang Seng. The Stock
Market Futures were down big this morning, The Dow Jones futures were actually down 350 at one point but Bill Gross came on CNBC and told viewers that Libor rates will soon fall. The
Markets rallied today from 12-2pm with the Dow Jones up 220 points at one point. This all changed in a vicious sell off from 2pm - 3pm Eastern time followed by another sell off with a few minutes left in the trading day. There is been no bad news out, just a lack of buyers and a lot of sellers. Be very careful, we closed below a key technical level on the Dow today as I was explaining last week. All eyes will be back on the Nikkei and Hang Seng tonight as those markets react to our trading.

Cannon slashed profit estimates last night in Asia by 25% and more selling could hit those stock markets overnight which would effect our stock markets for Tuesday, 10/28/08. Will stocks go up tomorrow? Something tells me the Asian markets will rebound tonight and that could send our stock markets up alot higher for Tuesday 10/28/08. Be careful though, we have a Fed Interest Rate decision tomorrow and I believe a half point rate cut is already priced into stocks right now. We get the decision at 2:15pm est. Be sure to check out my blog later tonight for a futures update.

General Motors ( GM ) Close - $5.21

Todays Biggest Stock Market Gainers

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Art Cashin CNBC 10/27/08 - Bottom for Stocks

Art Cashin CNBC 10/27/08

Futures aren't telling us the whole story....the down limit was deceptive Friday. It was like a vaccum, sellers sold quick after seeing asian markets and there were no buyers.

Pre Market trading is a little crazy today, I wish we could see a little more panic this morning.

I think the end to this stock market crash is near, but i'd like to see panic and I don't like to bottom in November so hopefully we can get this taken care of soon.

The Stock Market futures are bouncing off their lows this morning after Bill Gross Spoke on CNBC.

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Bill Gross CNBC 10/27/08 - Libor Rates, Stock Markets

Bill Gross on CNBC 10/27/08

At a certain market price point, the market looks attractive

Treasury announces rate today....2.88% No way Libor can stay at 3.5% when Government is buying at 2.88% Expect Libor to go down.

Libor rates will come down soon because of the Fed commercial paper program....Treasury programs kicking in this week will loosen credit markets.

Stocks and Oil are going down because of this massive deleveraging.
Tarp program is less significant than Bank Capital Purchase Program.

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Stock Market 10/27/08 - Dow Jones Futures - October 27th, 2008

10/27/08 Pre Market Trading Report:

Today, October 27th, 2008, the Dow Jones Futures and all stock market futures for that matter are headed much lower. The Dow Jones Futures in pre market are Down 330 points, Nasdaq Futures, Down 51 points, S&P 500 Futures, Down 40 points.

The stock market is headed for another scary open today, 10/27/08, and it all started last night in the Asian and European stock markets. The Hang Seng stock market was down 12.7% and the Nikkei tumbled another 6.4% to hit a 26 year low. Click here for Fridays Analysis

Asian Markets - European Markets
Tokyo's Nikkei 225 index closed down 6.4 percent to 7,162.90 -- the lowest since October 1982. Hong Kong's Hang Seng Index tumbled 12.7 percent to 11,015.84, its lowest close in more than four years and biggest daily decline since 1991.

European markets followed Asia lower, with benchmarks in Britain, Germany and France trading down more than 4 percent in early trading. The FTSE 100 index was 190.31 points, or 4.9 percent, lower at 3,693.05, while Germany's DAX was down 182.81 points, or 4.3 percent, at 4,112.86. France's CAC-40 was the worst performing European index, down 184.65 points, or 5.8 percent, at 3,009.14.
Oil is down $1.78 to $62.37

10/27/08 Stock Market Futures - Dow Futures

How will the stock market open on Monday, 10/27/08?


Stock Market Futures:

Dow Jones Futures are down 130 tonight
Nasdaq Futures are down 14 tonight
SP 500 Futures are down 18 tonight

Asian Stocks are crashing tonight, the Nikkei is down 361 after being up 150 at the open. The Asian stock markets started going up after South Korea cut interest rates by .75 points. The US markets look like they will be hit with more selling once again Monday.
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Stock Futures 10/27/08 - Dow Jones Futures

How will the Stock Market open on October 27th, 2008?

Stock Market futures - 10/27/08

Dow Jones Futures - Down 250
Nasdaq Futures - Down 42
S&P 500 Futures - Down 28

Updated 7:10am Est

Asian Stock Markets - 10/27/08

Nikkei - Down 486

The stock market futures are pointing higher tonight, 10/26/08, and it appears tomorrow will be an up day. As you probably know, these futures can change in a second with good or bad news. The Nikkei is trading lower today and as usual,very volatile! We will post updates here. Click Here for Friday's Analysis on the Stock Market.

What is happening this week in the stock market?

There are many key earnings reports due out this week including US Steel ( X ), Valero Energy ( VLO ), First Solar ( FSLR ), Visa ( V ), and Exxon Mobile ( XOM ).

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Chesapeake ( CHK ) Analysis 10/27/08 - Technical Analysis

Chesapeake Energy ( CHK ) Technical Analysis for 10/27/08 - October 27th, 2008

Chesapeake Energy CHK - Support and Resistance Levels


Chesapeake Energy ( CHK ) has been trending along with its 10 day moving average...this is a bullish sign for recovery. I am playing it this way...CHK has support at $17.50...any close below this and I am out of CHK stock....now that it is trending over $20 you could even use that price as a stop....resistance is at $25...when CHK closes over $25 I think you could test the 50 day moving average which is at $35 right now but will come down lower as time passes. Use $20 & $25 as your trading range.

Bidu Baidu.com Analysis 10/27/08 - Bidu Technical Analysis for October 27th, 2008

Baidu.com ( BIDU ) technical analysis for 10/27/08 - October 27th, 2008
Bidu Support and Resistance Levels
Bidu reported good earnings last week but guidance was a little weak. Bidu has support at the $175 area from last year and Friday 10/24/08 but after that it would be $150 and then $134. Resistance is $200...when this moves back over $200 I will be a buyer again....but with a tight stop! Baidu will really get cooking again with a close over $275. One of the most volatile stocks I swing trade is Baidu.com

RIMM Research in Motion Analysis for 10/27/08

RIMM Research in Motion Technical Analysis for 10/27/08

RIMM Support and Resistance Levels

Rimm appears to have finally have support from Friday October 24th, 2008 at the $40 level. I really don't see RIMM stock going much lower. If it does, Rimm will be getting buyout offers if you catch my drift! In the coming weeks it is possible for a retest of $40 if market conditions in the stock market deteriorate. RIMM is a great company with a great product...growth is slowing, but not this much. Yes, Apple ( AAPL ) is starting to eat their lunch with iPhone sales but there is plenty of business to go around. Having your stock go from $135 to $40 in 75 days,. well, this is what happens when every hedge fund on wall street owns your stock in a deleveraging period.

Resistance is at $46 and $50...when this stock turns it will be jaw dropping like a lot of other stocks out there. A close back over $70 and this stock will really get moving. RIMM is the ultimate day trading stock right now in my opinion.

Dow Jones Close 10/24/08 - Stock Market Closing Price, Vix

The Dow Jones Industrial Average was another roller coaster ride on Friday, 10/24/08, closing at 8378, Down 312 points. The morning started with traders and investors waking up to a " limit down " in the stock market futures due to the crash of Asian and European stock markets overnight. A limit down is a circuit breaker for when the markets plummets to unusual levels...they stop futures trading until the stock market opens. In this case, it was 5% down for pre market. Everyone thought when the stock market opened at 9:30am, the next limit down would be hit at 10% or 1100 points on the Dow Jones....keep in mind, these limit down figures were made several months ago when the stock market was much higher. 1100 points down on the Dow Jones would have been more like a 14% plunge.

So what happened at the open? Everyone was expecting total panic and selling but the buyers quickly came in and the markets rallied. The Dow has been trading in a range all day from 8275 to 8525. Many big traders are still calling for the capitulation we did not get Friday, to come Monday. Monday will most likely be one of the most crutial days to the stock market yet....and it will start with what the Asian markets do on Sunday Night 10/26/08. I will be posting a blog during Sunday Night Football on NBC, so make sure you check back!

Dow Jones Technical Analysis 10/24/08:

Ok, so today the Dow Jones made a low this morning of 8187 but it has tested that 8200 level several times and it has held. Today is the first time i've actually seen panic buying set in for awhile. When we did not get the big plunge most people were expecting, buyers, whether they were short sellers covering their positions, were really stepping over each other to buy. All day the markets have been really twitchy to the upside....almost like the markets are a coiled spring ready to rocket higher. Your resistance on the Dow Jones is 8700, if we can close above that and stay up there for a few days, we could indeed rocket higher next week. However, there are some key events next week to watch. They are noted below.

Economic Data for next week:

Consumer Confidence - 10/28/08 10am
Federal Reserve FOMC Statement - 10/29/08 2:15pm
Jobless Claims - 10/30 8:30am

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