Barnett Shale: Exxon ( XOM ) sells to ( CHK ) Chesapeake Energy - 10/01/08

Harding Energy Partners said Wednesday it acquired the core Barnett Shale assets of DDJet, a joint venture whose owners included Exxon Mobil Corp., and sold them to Chesapeake Energy for an undisclosed price

Full Article - http://www.star-telegram.com/business/story/945757.html

Apple Shutting Itunes Store in USA?

LONDON (Dow Jones)--Apple Inc. (AAPL) says it may close its online iTunes store in the U.S. if royalty rates are increased, the BBC reports on its Web site.

The U.S. Copyright Royalty Board meets Thursday to rule on a requested 66% increase for sales of digital music, pushing artist royalties up to 15 cents from 9 cents a song.
Apple tells the BBC is it unwilling to increase its 99 cents a song pricing policy or absorb a royalty rise.

"Apple has repeatedly made clear that it is in this business to make money, and would most likely not continue to operate iTS if it were no longer possible to do so profitably," Vice President for iTunes Eddy Cue said.

Dryships ( DRYS ) Stock Bottomed? - 10/1/08 - Time to buy Drys?

Drys stock have reversed 10% in an hour and a half going from $33.03 to $36.48......looks like a bottom to me. Dryships ( DRYS ) has been absolutely crushed over the past month and an explosion back to $45 could be on thew horizon.

Also, Potash ( POT ) is looking incredibly attractive under $130 today.

Senate is going to vote on the rescue plan tonight so stay tuned!

http://blackberrystocks.com/drys.html

http://blackberrystocks.com/pot.html

10/01 Stock Gainers - Pre Market, Morning Stock Market Hot Stocks

The following is a list of stocks that are set to become big gainers when the stock market opens this morning on 10/1/08.

AGM
FRPT
OXGN
NCC
TMA
FRE
FNM
ENER
CPST
FSLR

http://blackberrystocks.com/hotstocks.html

Google GOOG Stock Close Today

Did anyone see the weird trading in Google today at the close? Google shot up to $480's on heavy volume....and then tanked to .01 ......

5 million shares changed hand in that whole event.....very strange...i'm sure all kinds of stop orders were taken out both ways....and i'm sure all trades after 3:58pm est today will be reversed.

Very weird stuff going on in the stock market this week!

Apple ( AAPL ) $112 Resistance Level - Day Trading AAPL 9/30

Today Apple ( AAPL ) is recovering along with the technology sector very nicely. We are back to yesterdays resistance level at $112....if we can somehow punch through that mark...it will be very bullish going forward. I'd like to see a close over this level in the next few days.

Apple intraday has had support at $106 and $108 for you day traders out there.

Apple AAPL Buy Upgrade 9/30

This morning, 9:05am EST Apple ( AAPL ) has been upgraded:

Apple Raised To Buy From Hold By Gabelli >AAPL

Stocks to Watch: 9/30 - AAPL, RIMM, FSLR

Today we are getting a bounce higher from yesterdays record plunge. Thursday looks like the earliest that they could start working on a new deal for the bailout plan. I honestly don't see this bill passing now because if you tweak the package, some of the No voters will turn to yes, but maybe some of the Yes voters will now turn to No.

Jim Cramer's new target for the Dow is 8200 if this deal doesn't get passed.

So what if we do get a deal? Well, I think you could see a 700 point up day if not more. Cramer said he's ready to tell people to buy when and if this thing passes.

Putting the above aside, stocks I will be watching and trading today are FSLR, AAPL, and RIMM. These three stocks are super volatile so and quick plunge should be bought, just remember to take profits quick. On Apple, $112 failed many times yesterday so if we break up through this level in the next couple days...you could see a nice move higher from that level.

AAPL - Apple Computer a Buy

Well, I never thought i'd see the day when Apple Computer was down 16% after being down so much the prior week. The stock market is so out of wack, nobody knows really whats going on. Why did the firms downgrading Apple wait so long to downgrade? At $110, Apple's Market Cap is $97 Billion when they have $20.77 Billion in cash just sitting in the bank. I can't remember the last time i've seen AAPL so cheap. Apple's products are in high demand and are mainly bought by higher end people.

So what did I do? I sold my Bidu at a minor loss at the chance to buy Apple under $110....less risk.....great upside.

Christmas come early! Thanks Santa Claus!

The Bailout plan is going to be voted on this afternoon....its going to be a close vote!

Bailout Plan: Congress Making Progress on Saturday 9/26

Today Congress appears to be making progress on the bailout/rescue plan for the financial markets. Hopefully we have a deal by tomorrow night 6pm EST when the Asian Markets open for trading.

If a bailout plan isn't agreed upon by that time....we could be looking at a serious down day on Monday. I think we have a few days grace period to get this done, as long as we don't hear the deal has stalled or looks unlikely.

When we get a deal, I think we will have a nice rally....but then people will focus back on the economy again. It's a vicious circle of pessimism!

Stay Tuned!