This morning, 12/11/08, there are several big gainers in pre market trading as we get set for the open.
Stocks to Watch - December 11, 2008
Callon Petroleum (CPE) is up over 30% in pre market on no news really. This stock was badly beaten down over the past few months and is getting a bounce today.
Baidu.com ( BIDU ) is moving higher today as the company is coming out and lowering revenue guidance by 20 million but clarity is sending shares higher by 6% in pre market. This stock has also been crushed over the past several months and never really bounced.
Today's Biggest Gainers - December 11th, 2008
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Thursday, December 11, 2008
General Motors GM - Ford F - 12/11/08 - Stock Report
Today, 12/11/08, General Motors ( GM ) and Ford ( F ) stocks are up in pre market trading after the House passed the auto bailout bill by 19 votes. After, closing at $4.60 on Wednesday, GM stock is set to open higher at $4.75 per share. Ford ( F ) will also be opening lower around $3.20 after closing at $3.25 on Monday.
Last night, 12/10/08, The House of Representatives passed the auto bailout bill 237 -170. The bill needed just 218 votes to pass. The 14 billion bridge loan bill now stumbles into the Senate as early as tomorrow. The real problems are in the Senate as there are many voters opposed to this bailout bill. If Ford, General Motors, and Chrysler get this bridge loan, they will be back in a few months for more money. Conditions aren't likely to get better. Some say by the time this is all said and done, they will need 100 billion combined. However, this would save over 2 million jobs. This is a touchy subject and I could argue either side. Bankruptcy would kill our already horrible economy but it might eventually bring more jobs if we can get this problem fixed in bankruptcy. These car companies need to make better cars not to mention cars people want to drive. We will have an update when more news comes.
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Last night, 12/10/08, The House of Representatives passed the auto bailout bill 237 -170. The bill needed just 218 votes to pass. The 14 billion bridge loan bill now stumbles into the Senate as early as tomorrow. The real problems are in the Senate as there are many voters opposed to this bailout bill. If Ford, General Motors, and Chrysler get this bridge loan, they will be back in a few months for more money. Conditions aren't likely to get better. Some say by the time this is all said and done, they will need 100 billion combined. However, this would save over 2 million jobs. This is a touchy subject and I could argue either side. Bankruptcy would kill our already horrible economy but it might eventually bring more jobs if we can get this problem fixed in bankruptcy. These car companies need to make better cars not to mention cars people want to drive. We will have an update when more news comes.
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1 and 3 Month Libor Rates - 12/11/08 - Today's Libor Rates
It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 12/11/08, are: 1 Month Libor Rate - 1.195% & 3 Month Libor Rate - 1.996%. The overnight Libor rate is .115%. As you can see, Libor Rates have changed today, December 11, 2008, all three Libor Rates have fallen and the 90 day Libor fell below 2 for the first time in a long time.
Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.
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Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Stock Market Futures 12/11/08 - Dow Jones
The Stock Market and Dow Jones are set to open slightly lower today, 12/11/08, but Futures are off their worst levels. The House passed the bail out package last night and now it heads for a possible Senate vote tomorrow. Proctor & Gamble ( PG ) came out this morning and slashed guidance. This morning we have Jobless Claims at 8:30am so watch this number closely. Jobless Claims are expected to rise, no surprise there.
Stock Market Futures - December 11, 2008
Dow Jones Futures - Down 34
Nasdaq Futures - Down 0.50
S&P 500 Futures - Down 2.8
Oil Futures - $45.67
Today's Biggest Gainers - December 11th, 2008
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Stock Market Futures - December 11, 2008
Dow Jones Futures - Down 34
Nasdaq Futures - Down 0.50
S&P 500 Futures - Down 2.8
Oil Futures - $45.67
Today's Biggest Gainers - December 11th, 2008
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Wednesday, December 10, 2008
Dow Jones Analysis 12/11/08 - Stock Market
The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/11/08
Dow Jones Support & Resistance Levels - December 11, 2008
Resistance Levels: 8850, 9000
Support Levels: 8600, 8500
Support Levels: 8600, 8500
The Dow Jones is stuck in a trading range right now between the 10 day moving average and 50 day moving average...so I am neutral right now. I am looking for a major move to occur over the next week as to where we are headed next. A close over 9000 and I will be bullish, a close below 8500 and I turn bearish as the downtrend will start again. I don't think 8150 support will hold if we go down and test it again.
All eyes are on the auto bailout right now....and it appears its not a lock to pass the Senate on Friday. The markets can really go either way right now and that is why I am neutral.
All eyes are on the auto bailout right now....and it appears its not a lock to pass the Senate on Friday. The markets can really go either way right now and that is why I am neutral.
http://stockcharts.com - Chart
More Technical Analysis - Go HERE
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Nasdaq Analysis 12/11/08 - December 11, 2008
The following is Technical Analysis for the Nasdaq ( NAS ) for 12/11/08
Nasdaq Support & Resistance Levels - December 11, 2008
Resistance Levels: 1600
Support Levels: 1536, 1500
Support Levels: 1536, 1500
http://stockcharts.com/ - Chart
The Nasdaq appears to have topped out at 1602.92 so any close above this level and I think it could test 1675-1700. This would also be the first time the Nasdaq closed back over the 50 day moving average ( Red Line ) which is currently at 1621.77. This would be bullish!
The Nasdaq is looking good technically but if you get a close under 1500 we might go down to test 1400-1450 with bounces back up to the 10 day moving average. This is what you don't want to see as the downtrend would continue and bring more selling pressure to the Nasdaq.
The Nasdaq is looking good technically but if you get a close under 1500 we might go down to test 1400-1450 with bounces back up to the 10 day moving average. This is what you don't want to see as the downtrend would continue and bring more selling pressure to the Nasdaq.
Bottom Line: Things are looking strong....keep an eye on the 10 day moving average and both the 1500 level on the downside and 1600 on the upside. Volume Has Been Rather Weak Lately which is a sign this rally could be fizzling out.
For more Technical Analysis, go HERE
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Dow Jones Close 12/10/08 - Stock Market
Stock Market Closing Prices - 12/10/08
Dow Jones Industrial Average ( DJIA ) Close - 8761.42 Up 70.09
Nasdaq Stock Market Close - 1565.48 Up 18.14
S&P 500 Close - 899.24 Up 10.57
Libor Rates - 12/10/08
1 Month - 1.44%
3 Month - 2.10%
Commodities Closing Prices - 12/10/08
Gold - 809.5
Oil - 43.68
Natural Gas - 5.70
The Dow Jones Industrial Average closed at 8761.42 on 12/10/08, as stocks were all over the place today with mixed news on the auto bailout. The Stock Market futures were up nicely this morning in early trading. The Dow Jones hit a high of 8879 which is right at the 50 day moving average and tested its 10 day moving average at the end of the day ( 8606 ). Get ready for some more volatility in the coming weeks as the 10 day and 50 day moving averages are coming closer together and there will be a real bull / bear fight with which we go next. You started to see it today with the Dow erasing a two hundred point gain by 2pm. I will have technical analysis of the stock market tonight, Right Here
Now, back to the auto bailout! There was a report out that a deal was reached, stocks took off, and now we have reports some republicans will be voting against it and its not a done deal by any means. The House might vote on the deal as early as tonight and Friday the Senate could vote. It will be another bailout weekend coming up. From what I can tell, it is not certain whether this deal will pass or not. If it doesn't, you will see the markets tank as the fear of bankruptcy will sober this latest rally. If the deal passes, you might get a pop, but for the most part, it is already priced into the market.
Oil showed some bullish action today after horrible supply data came out at 10am. Oil gave up a 5% gain and then soared from even to back up 5%. This is the type of action you want to see if your trying to pick a bottom. It is not clear whether we have hit a bottom at $42...but its something to keep an eye on.
More of Today's Articles - Dry Bulk Shipping Rates - Meredith Whitney on the Financials
Today's Biggest Gainers - December 10, 2008
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Dow Jones Industrial Average ( DJIA ) Close - 8761.42 Up 70.09
Nasdaq Stock Market Close - 1565.48 Up 18.14
S&P 500 Close - 899.24 Up 10.57
Libor Rates - 12/10/08
1 Month - 1.44%
3 Month - 2.10%
Commodities Closing Prices - 12/10/08
Gold - 809.5
Oil - 43.68
Natural Gas - 5.70
The Dow Jones Industrial Average closed at 8761.42 on 12/10/08, as stocks were all over the place today with mixed news on the auto bailout. The Stock Market futures were up nicely this morning in early trading. The Dow Jones hit a high of 8879 which is right at the 50 day moving average and tested its 10 day moving average at the end of the day ( 8606 ). Get ready for some more volatility in the coming weeks as the 10 day and 50 day moving averages are coming closer together and there will be a real bull / bear fight with which we go next. You started to see it today with the Dow erasing a two hundred point gain by 2pm. I will have technical analysis of the stock market tonight, Right Here
Now, back to the auto bailout! There was a report out that a deal was reached, stocks took off, and now we have reports some republicans will be voting against it and its not a done deal by any means. The House might vote on the deal as early as tonight and Friday the Senate could vote. It will be another bailout weekend coming up. From what I can tell, it is not certain whether this deal will pass or not. If it doesn't, you will see the markets tank as the fear of bankruptcy will sober this latest rally. If the deal passes, you might get a pop, but for the most part, it is already priced into the market.
Oil showed some bullish action today after horrible supply data came out at 10am. Oil gave up a 5% gain and then soared from even to back up 5%. This is the type of action you want to see if your trying to pick a bottom. It is not clear whether we have hit a bottom at $42...but its something to keep an eye on.
More of Today's Articles - Dry Bulk Shipping Rates - Meredith Whitney on the Financials
Today's Biggest Gainers - December 10, 2008
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
Dry Bulk Shipping Rates Report - 12/10/08 DRYS
The following is a report on Dry Bulk Shipping Rates for 12/10/08. This data is critical for how the DryBulk Shipping Stocks such as DryShips ( DRYS ), Excel Maritime Carriers ( EXM ), Diana Shipping ( DSX ), Genco Shipping ( GNX ), TBS International ( TBSI ), Navios Maritime ( NM ), and OceanFreight ( OCNF ) will trade during the day. As you probably know, the Dry Bulk Shipping index can tell you a lot about the state of the World Economy. When Bulk Shipping Rates are at all time highs, the World Economy is outstanding. When Bulk Shipping Rates are as low as they have been lately, it signifies that the world economy has come to a screeching halt. Most of the stocks above are getting a huge bounce today as the stock market bounces back. This could be due to the fact that the Baltic Dry and Baltic Cap index have been rebounding lately. Nevertheless, these indexes are down almost 95% from the highs as iron ore shipments have come to a halt.
Dry Bulk Shipping Rates - December 10, 2008
Baltic Dry Index ( BDI ) - 691 Up 12
Baltic Cape Index ( BCI ) - 1058 Up 67
Baltic Panamax Index ( BPI ) - 450 Down 16
Baltic Supramax Index ( BSI ) - 511 Down 12
Past Bulk Shipping Rates
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Dry Bulk Shipping Rates - December 10, 2008
Baltic Dry Index ( BDI ) - 691 Up 12
Baltic Cape Index ( BCI ) - 1058 Up 67
Baltic Panamax Index ( BPI ) - 450 Down 16
Baltic Supramax Index ( BSI ) - 511 Down 12
Past Bulk Shipping Rates
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Dow Jones Open 12/10/08 - Stock Market
This morning, the Dow Jones and Stock Market's are opening higher but seem to be weak as we await the potential auto bailout decision today, 12/10/08. Oil is gapping higher over $44 per barrel. This is something to watch. I am watching for the USO to break above $36.20 for a possible reversal to the upside after falling from $45 per share in the past few weeks. Pre Market volume was very strong. Dryships ( DRYS ) continues to run with the bulk shipping stocks but is off the highs. I am not doing much today, just waiting for the Auto Bailout Decision and watching how the market reacts. The markets are looking toppy short term but this auto bailout will move them one way or the other. The only thing I own right now is a small position in QID.
Stock Market Opening Prices December 10, 2008
Dow Jones Open - Up 70
Nasdaq Open - Up 16
S&P 500 Open - Up 8
Today's Biggest Gainers
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Stock Market Opening Prices December 10, 2008
Dow Jones Open - Up 70
Nasdaq Open - Up 16
S&P 500 Open - Up 8
Today's Biggest Gainers
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Stocks To Watch 12/10/08 - December 10, 2008
The following stocks are breaking out today 12/10/08, in pre market trading. These stocks will be the hottest stocks of the day:
Today's Biggest Gainers - December 10, 2008
Genworth Financial ( GNW )
DrysShips ( DRYS )
Excel Marinetime Carriers ( EXM )
General Motors ( GPM )
Sino Global Shipping ( SINO )
Other Stocks to Watch:
Apple ( AAPL ) is lower in pre market trading...I think this has something to do with the Iphone coming to Wal Mart and also Morgan Stanley is out giving Apple Negative Comments do to weak demand.
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Today's Biggest Gainers - December 10, 2008
Genworth Financial ( GNW )
DrysShips ( DRYS )
Excel Marinetime Carriers ( EXM )
General Motors ( GPM )
Sino Global Shipping ( SINO )
Other Stocks to Watch:
Apple ( AAPL ) is lower in pre market trading...I think this has something to do with the Iphone coming to Wal Mart and also Morgan Stanley is out giving Apple Negative Comments do to weak demand.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
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