Stock Market 3/11/09 March 11, 2009

After a huge rally yesterday, stock market futures are pointing higher for pre market trading this morning. We are seeing a nice follow through after yesterday's gains.

Stock Market Report - March 11, 2009

All major stock market averages ended over the 10 day moving average yesterday. This is a technical breakout that could have legs. Keep in mind, it is just a bounce as all of these rallies have been. We won't know if 6500 was a stock market bottom until we go back and retest it. 95% of stock market bottoms are retested so i'd be selling into this rally. I can see the Dow going up to 7500-8000 and then failing.

Oil Prices 3/11/09 - I noticed yesterday that Nymex crude oil hit a high of around 47.90 and then started to roll over. Oil is now trading at $45 in pre market this morning. I'd be cautious buying oil on this dip. We are still stuck in this range between $35-$50 and right now we are near the higher end. I did notice T Boone Pickens call for oil prices to go to $60 before $40 but he has been wrong since Oil broke down in July. Also, there are around 60 million barrels of oil sitting around in tanker ships waiting to be unloaded in the $50's.

Gold Prices 3/11/09 - Gold is trading around $900 and is technically broken. There is a ton of supply that came from people pawning in their gold when it was near $1000. I think the gold trade was overextended and I will look to reload in the mid to low $800's. I have no doubt that Gold prices will again go and stay above $1000 eventually.

Stock Market March 11, 2009 - It looks like the bank stocks are hot once again, Bank of America ( BAC ) is above $5 in pre market. I would keep an eye on FAS, if you see that stock start to break down, the stock market will correct. Another stock to watch is GE. Here are a list of stocks that could perform well today. Here is a list of the Top 10 Stock Gainers of 2009. Enjoy!

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

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Dow Jones Futures 3/11/09 - Stock Market Futures

How will the stock market open on Wednesday - March 11, 2009? The Dow Jones and Stock Market Futures are pointing toward a higher open for pre market. Check out technical analysis for March 11th.

Stock Market Futures 3/11/09 - Pre Market Trading - Updated 8:35am Est

Dow Jones Futures - Up 30
S&P 500 Futures - Up 7.40
Nasdaq Futures - Up 7
Nikkei - 7376 Up 321
Oil Futures - 45.07
Gold Futures - 897.50

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

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Stock to Buy March 11, 2009 3/11/09

Tonight in afterhours trading, there are several stocks moving higher. The following is a list of stocks you might want to think about buying on March 11th, 2009.

Stocks to Watch - 3/11/09

LHC Group, Inc. (LHCG) - $20.97 Up 15.09% - LHC Group raises 2009 profit and revenue targets. LHC Group lifts annual profit and revenue forecasts after reporting 4th-quarter results.

Fuel Systems Solutions ( FSYS ) - $13.00 Up 11.02% - FSYS releases 10K filing in after market trading.

J Crew ( JCG ) - $10.76 Up 10.70% - J Crew's loss beats Street, expects solid Q1

Green Mountain Coffee ( GMCR ) - $42.00 Up 10.32% - Investors Business Daily ( IBD ) is out with a positive report on GMCR

Citigroup ( C ) - $1.58 Up 8.97% - Citi continues the big run after CEO Vikram Pandit says company is profitable through Feb 2009.

Bank of America ( BAC ) - $5.16 Up 7.72% - BAC up after hours after Jim Cramer says his technician thinks B of A stock can climb back into the teens.

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

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Top Stocks 2009 March 2009 Stock Gainers

The Stock Market broke out to the upside today ( 3/10/09 ) so I decided to highlight the Top Stock Gainers in 2009 year to date. The Top 2009 Stock List below goes in order by biggest gainers. Anady's ( ANDS ) has been the top stock for 90% of 2009 so far. ANDS has also gone up around 40% since I last wrote about it back in late January 2009.

Top Stocks List -2009 - March 11, 2009

#1 Anady's Pharmaceuticals ( ANDS ) - $5.95 Up 279% in 2009
#2 DuPont Fabros Technology ( DFT ) - $6.08 Up 194% in 2009
#3 Palm ( PALM ) - $6.92 Up 125% in 2009
#4 The Providence Service ( PRSC ) - $3.13 Up 116% in 2009
#5 Zion Oil & Gas ( ZN ) - $13.85 Up 113% in 2009
#6 MIPS Technologies ( MIPS ) - $2.36 Up 113% in 2009
#7 Internet Gold Golden Lines ( IGLD ) - $4.95 Up 112% in 2009
#8 MF Global ( MF ) - $4.27 Up 109% in 2009
#9 Sprint ( S ) - $3.54 Up 93% in 2009
#10 Direxion Small Cap Bear 3X Shares Eft ( TZA ) - $90.69 Up 89% in 2009

You can see the full list of Biggest 2009 Stock Gainers Updated Daily - Right Here
Also, check out the Top Penny Stocks in 2009 - Right Here

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Dow Jones Analysis 3/11/09 Stock Market Analysis

The following is Technical Analysis for the Dow Jones ( DJIA ) for 3/11/09

Dow Jones Support & Resistance Levels - March 11, 2009 - DJI

Resistance Levels: 7000, 7449, 7500, 7552

Support Levels: 6840, 6500, 6310, 6000

http://stockcharts.com/ - Chart

Stock Market Futures

The Dow Jones closed over the 10 day moving average today which is a bullish signal. Like the Nasdaq, I expect it to trade above and below this level over the next several days but keep eye in the close. I will become even more bullish if the Dow gets back over 7000. It is to early to tell if this is a stock market bottom but even if it was, we will retest 6500 several times. All true bottoms are retested. The volume was very strong today which was another positive sign. For More Technical Analysis - Go Here

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

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Nasdaq Analysis 3/11/09 March 11, 2009

The following is Technical Analysis for the Nasdaq ( NAS ) for 3/11/09

Nasdaq Support & Resistance Levels - March 11, 2009

Resistance Levels: 1400, 1456

Support Levels: 1341, 1300, 1253.22, 1193.42, 1108.49

http://stockcharts.com - Chart

Stock Market Futures

The Nasdaq closed over the 10 day moving average today and this is a very bullish sign. I expect the Nasdaq to trend above and below this level over the next several days but the close will be key. If the Nasdaq can stay over the 10 day average over the next several trading sessions, more buyers will step in. I will get more bullish on a close over 1400 but for now I own a small position in QLD stock. On the downside, I will look to add if we test 1300 again but I will stop out at 1295. For the S&P 500, look for a huge up move on a close over 741 resistance. For More Technical Analysis - Go Here

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

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Dow Jones Close 3/10/09 - Stock Market Closing Prices

Stock Market Closing Prices - 3/10/09

Dow Jones Industrial Average ( DJIA ) Close - 6926.49 Up 379.44
Nasdaq Stock Market Close - 1358.28 Up 89.64
S&P 500 Close - 719.60 Up 43.07
General Electric GE Stock Close -$8.82 Up 19%
http://dowjonesclose.com

Libor Rates - 3/10/09

Commodities Closing Prices - 3/10/09

Gold Close - 899
Oil Close - 46.02
Natural Gas Close - 3.85

The Dow Jones Industrial Average ( DJI ) closed at 6926 on 3/10/09, as the stock market rallied big on news that Citigroup ( C ) has been profitable through February 2009. The Dow Jones Futures opened up significantly higher during pre market as the bank stocks soared on the Citi news. CNBC's Mark Haines then declared a stock market bottom for the first time since this whole stock market crash. It seemed to work because stocks rallied hard at the open and the Dow Jones then spiked up over the 6850 level when Barney Frank spoke about bringing back the uptick rule in the next 30 days. Right before 3pm we saw an attempted sell off but then the stocks ripped even higher. These are signs of a very strong stock market! When stocks opened this morning, stock advancers outpaced decliners by a 10 to 1 margin. We haven't seen this happen in a long time. Jim Cramer then came on CNBC in the afternoon and stated in order for this rally to be real, he would need to see JP Morgan ( JPM ) get and stay over $20. JPM stock is trading at around $19 currently. Also, Meredith Whitney came on CNBC - View her comments Right Here. The Dow Jones closed over the 10 day moving average for the first time since we broke down below it back in early February, a very bullish sign!

I will have full technical analysis of the stock market tonight - Right Here

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

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Meredith Whitney CNBC 3/10/09 March 10, 2009

Meredith Whitney was on cnbc this afternoon( March 10, 2009 ) and gave her comments on the current financial crisis.

- Credit Cards will be the next credit crunch
- At least 2 trillion of credit card lines to be cut by 2010
- Bank credit card portfolios will not be profitable in 2009, might even lose money

Would you be buying the bank stocks right now?

- Goldman Sachs ( GS ) in the $70's yes, $100's no
- There is a trade here, but a trade alone...I think you could probably make money getting long some of these stocks. We will have to see what they do as far a mark to market in April.

Citigroup ( C ) - they don't make money in any of their businesses - you see Citi up 28% today but its only $0.28 cents. I am skeptical of these relief rallies.
Citi will be forced to sell their crown jewels

Mark to Market accounting

The damage is already done....if the market comes back, they don't get the benefit to write their assets back up. Mark to market doesn't really matter right now.

TALF - Is TALF going to be enough? They are trying to entice the private sector to come back into the market, private capital has to have sweet terms to get back into the stock market.

With these bank stocks - you could see them go up on earnings in the first quarter because of a head fake on the mortgage moratorium.

View all of Meredith Whitney's comments right here.

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Jim Cramer JP Morgan JPM 3/10/09 - March 10, 2009

Jim Cramer of CNBC said during his Stop Trading segment that you have to see Jp Morgan ( JPM ) go into the $20's before you can declare a " stock market bottom" for 2009 and declare today's rally more then a bear market bounce. Keep an eye on JPM stock as we trade over the next several weeks.

Keep in mind, Jim Cramer was not bullish over the past week when his friend Doug Kass made bottom statements for the S&P 500. The Doug Kass bottom is actually 693 on the S&P 500 which we broke but are now trading over 710 today on the Citigroup ( C ) news. Although, Cramer notes that the uptick rule would make him bullish.

"The Chinese stimulus plan changes spending habits as they are basically giving you money to spend. Check out FXI stock. if you like China. "

Fertilizer Stock Plays - " I like TNH because of dividend play. "

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DRYS POT RIMM Analysis 3/10/09 - March 10, 2009

I updated the following technical anlaysis stock charts at http://blackberrystocks.com/charts.html

Technical Analysis Updates: March 10, 2009


Research in Motion - RIMM
Potash - POT
DryShips - DRYS
First Solar - FSLR

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