Nikkei Closed 11/03/08 - Dow Futures

The Japanese stock markets are closed 11/03/08 for celebration of Culture Day. The Nikkei Stock Market will resume trading 11/04/08.

The Dow Jones Futures are up 2 today and the S&P 500 Futures are up .25 points. The Nasdaq futures are also higher points, .75 points. Keep in mind, its very early and these futures can change on a dime.

Here is some analysis on the Dow Jones:
http://daytradingstockblog.blogspot.com/2008/11/dow-jones-analysis-11308-stock-market.html

For the latest stock market updates, go to my homepage:

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Dow Jones Analysis 11/3/08 - Stock Market

The following chart is technical analysis for the Dow Jones Industrial Average ( DJIA ) and for the stock market 11/3/08. Next week will be huge for the stock market as we have the Election on November 4th, 2008, and we have the Employment Report & Unemployment Rate for October which will be released Friday, November 7th, 2008. This data is expected to be very bad. These two events will have a major impact on the stock market for weeks and months to come.

Here is my opinion on the current technical aspects of the Dow Jones. Click the chart for a visual.

The Dow Jones has managed to break through a key resistance of 9284.55 on Friday. A case could be made that the bottom on the Dow Jones has been made on October 10th of 7773.71....and that we've had two successful retests of that low, 8197.67 & 8143.59 which have held. The Dow Jones has trended above the 10 day moving average for the last four days. This hasn't happened since August 2008. What would signal that we have made a true bottom would be closing above 9794.37, the next true resistance level. I think we would get another 500-600 point rally just on this event alone. This would take us right back up to the level we closed at on the Friday that the bailout package passed which started this whole downturn. So if you are a chart watcher, watch 9794.37 closely. As for the Nasdaq QQQQ stock, when it broke $30.25, I was almost positive we would get this pop in the stock market last week. This was a strong signal that the trend was changing. Knowing that the trend was changing, this allowed me to find one of the most beaten up stocks that was ripe for a huge reversal, Las Vegas Sands ( LVS ). LVS will be an active stock to trade for weeks to come.

Watch 9794.37 closely!

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Dow Jones Close 10/31/08 - Stock Market Closing Prices

Stock Market Closing Prices - 10/31/08

Dow Jones Industrial Average ( DJIA ) Close - 9325 Up 144
Nasdaq Stock Market Close - 1721 Up 22
S&P 500 Close - 969 Up 14.64

Libor Rates - 10/31/08

1 Month - 2.58%
3 Month - 3.03%

Commodities Closing Prices - 10/31/08

Gold - 723
Oil - 67.98
Natural Gas - 6.71

The Dow Jones Industrial Average closed at 9324.69 on 10/31/08, as investors bought stocks and put together back to back positive days on the Dow Jones for the first time in a month. The Stock Market Futures were actually down this morning but again, the fall in Libor Rates turned futures around in pre market. All eyes will be focused on the Presidential Election on Tuesday, Nov 4th, 2008. As for the Dow Jones Industrial Average, we hit a high of 9452 this afternoon. If we can break out of the top of this trading range at 9500...we could test 10,000 on the Dow.

Biggest Stock Gainers Today

Las Vegas Sands ( LVS ) continues to shine and be one of the hottest stocks in the NYSE and the stock market. Today was had a third sell off attempt at the close...each time the dip has been bought. Will this last on Monday?

I will have more Analysis on the Dow Jones and the Stock Market this weekend so be sure to check back.
http://daytradingstockblog.blogspot.com/

Goldman Sachs ( GS ) Stock Alert 10/31/08 - Breakout Stocks

Goldman Sachs ( GS ) has been beaten up for the past week but is showing strength this afternoon, October 31st, 2008. GS stock is breaking through the highs of the day at $90.50. Somebody is buying Goldman stock so keep this stock on your watchlists.

The volume is picking up as well.

http://daytradingstockblog.blogspot.com/

Art Cashin CNBC 10/31/08 - Election Comments

Art Cashing came on CNBC twice today, October 31st, 2008, and gave some comments on the stock market and the up coming election next week.

I think we are in reasonably good shape as far as the stock market goes, we need to get past election though. We didn't get the capitulation like we wanted last week, these capitulations usually last into the last Monday of October, and this time it was the closing low. We might have a possible retest of the lows after the election.

I'm hoping we can get together back to back Dow up days today.
Don't make a heavy commitment to stocks until after the election.

Click Here for a list of Art Cashin predictions for the week.


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Dow Jones Open - Stock Market 10/31/08 - RIMM, AAPL, LVS

The Dow Jones and Stock Markets are opening slightly lower today, 10/31/08. The Dow Jones open down 20 points to around 9150 and has been steady in this price level. The Nasdaq is taking a hit, down 20 points to 1677. Libor Rates have again come down Oct 31st, a very positive sign for the stock market. Apple ( AAPL ) has been very weak this morning so far but Research in Motion ( RIMM ) has shown very good strength so far. These are two stocks to watch today. General Motors ( GM ) a key dow jones component, reportedly stopped talks with the treasury. As I write, the Dow Jones has just turned positive, up 20 to 9190.

Hot Stocks to Watch - Biggest Gainers 10/31/08

http://blackberrystocks.com/hotstocks.html

Gramercy Capital Corp ( GKK ) $2.30 up 53%
Las Vegas Sands ( LVS ) $11.65 up $12%
Research in Motion ( RIMM ) $50.10 up 5.6%
Monster Worldwide ( MNST ) $14.55 up 13.05%

For more stock market updates go to my homepage:

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1 and 3 Month Libor Rates 10/31/08

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 10/31/08, are: 1 Month Libor Rate - 2.58% & 3 Month Libor Rate - 3.03%. The overnight Libor rate is 0.41%.

Libor rates have sunk this week, especially after Bill Gross came on CNBC Monday and predicted Libor to fall! This has been a major reason why the stock market has rallied so much this week.
Compare today's Libor rates to yesterdays Libor rates.

For more on today's stock market action, visit, http://daytradingstockblog.blogspot.com/

Dow Jones Futures 10/31/08 - Stock Market Futures

10/31/08 Pre Market Trading Report:

Today, October 31st, 2008, the Dow Jones Futures and the Stock Market Futures are pointing lower as the Asian Markets failed to stage a 4th rally and headed lower. The Dow Jones Futures are indicating a down move of 100, the Nasdaq Futures are lower by 24, and the S&P 500 Futures are down 9 points. We had a big move up the US markets yesterday after a better then expected GDP number. Our economy only shrank by 0.3% vs estimates of -0.60% or even -1%.

Asian Markets - European Markets - 10/31/08

Tokyo's Nikkei 225 index fell 5% to 8,576.98 over worries about earnings. Investor sold shares after the previous day's 10 percent rise and ahead of a three-day weekend in Japan. They didn't react much to the Bank of Japan's rate cut, which was widely expected.

Hong Kong's Hang Seng dove 2.5 percent to 13,968.67 after spiking 12.8% in Thursday's trading.
European markets opened lower, with Britain's FTSE 100 index down 1.9 percent and Germany's DAX down 1.2 percent.

Stocks to Watch today:

Biggest Gainers in Pre Market Trading

Always check my blogs homepage for the lastest updates
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Dow Jones Close 10/30/08 - Stock Market Closing Prices, GDP

Stock Market Closing Prices - 10/30/08
Dow Jones Industrial Average ( DJIA ) Close - 9181 Up 190
Nasdaq Stock Market Close - 1698 Up 41
S&P 500 Close - 954 Up 24
Libor Rates - 10/30/08
1 Month - 2.85%
3 Month - 3.19%

Commodities Closing Prices - 10/30/08

Gold - 734
Oil - 65.96
Natural Gas - 6.48

The Dow Jones Industrial Average closed at 9181 on 10/30/08, as investors shook off the General Electric comments from yesterday and bid stocks higher. The Stock Market Futures were up this morning thanks to the better then expected GDP number of -.3% for the third quarter. Wall Street expected the GDP figure to be much worse, some calling for the number to be down 1% for the third quarter. The Dow Jones was strong pretty much all day long, hitting a high of 9266 right after the open. We lost some steam in the final hour however. The final hour has been the most volatile period for stocks during the day for the past several weeks. Tomorrow, if the Dow Jones can break the 9266 high, it will most likely test 9500 in the next few trading session. Another key reason the stock market went up today was a giant fall in the Libor Rates. Libor Rates have been dropping steadily all week creating a bullish environment for stocks. Don't forget to check out comments by Bill Ackman and Art Cashin from this morning.

Biggest Stock Gainers: 10/30/08

IntercontinentalExchange, Inc. (ICE) was one of the biggest gainers today in the stock market. ICE was up over 32% today because of earnings and the fact that they are buying a clearing firm.

Las Vegas Sands ( LVS ) was up huge this morning, hitting 12.75 at one point. This stock will be an active one for day traders in the days and weeks to come. LVS has been weak at the close for the second straight day so be careful!

Be sure to always check my blog for the latest updates on the stock market by visiting:
http://daytradingstockblog.blogspot.com/

Dow Jones Open - Stock Market 10/30/08 - Opening Prices

The Dow Jones and Stock Markets are opening a lot higher today, 10/30/08. The Dow Jones open up 200 points to 9200 and briefly traded to the 9263 level. The Nasdaq is up 45 points to 1702. This morning, The GDP reading for the 3rd quarter came out and it was down 0.3%. Wall Street was expecting down 0.6% so this was viewed as positive. Keep in mind, these economic numbers are backward looking and for the most part, Wall Street has them priced in. You might want to check out comments by Bill Ackman & Art Cashin from this morning. They provide valuable insight on the stock market! Remember what I said about the QQQQ crossing $30.25? We never looked back and the QQQQ now trades at $32.75. Oh, I almost forgot, Libor Rates tanked this morning, this is another key reason stocks are up big today.

Stocks to Watch 10/30/08:

Las Vegas Sands ( LVS ) is at it again, LVS stock hit $12.75 this morning but has since retreated back to $11.50. I am going to let this stock settle for a few days and then re evaluate again. It has gone up almost 300% in two trading sessions. Earnings also come out next week, not to mention, we have an Election and the Jobs number.

Other Big Movers today are GKK, OMX, VSE, POT, FSLR. Check out the following website for the biggest stock gainers today. http://www.blackberrystocks.com/hotstocks.html

As always, visit my homepage for the latest blog postings.

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