General Motors GM - Ford F - 12/01/08 - Bailout Talks Resume

Focus shifts back to the big three automakers this week as General Motors ( GM ), Ford ( F ), and Chrysler LLC are preparing to report back to Congress for the second time in a month.

Due Tuesday 12/02/08, the big three automakers will present a plan to the Democrats in their last attempt to get a bailout before seriously looking at Chapter 11. On Wednesday, 12/03/08, these three companies will be grilled by the Senate during a hearing followed by a hearing with the House of Representatives on Friday, 12/05/08. If everything goes well we could be looking at a bailout during the following week. GM, F stock could be very volatile during this period as well as the overall stock markets.

"We cannot afford to see these companies fail," said Ron Gettelfinger, the UAW chief, calling on Congress to approve the aid during a special session the week of Dec. 8, 2008.

The board of General Motors was last night understood to be locked in discussions to save the US car leader from filing for bankruptcy.

This whole situation could effect the markets this week so make sure you stay tuned!

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Dry Bulk Shipping Rates Report - 11/28/08

The following is a report on Dry Bulk Shipping Rates for 11/28/08. 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.

Dry Bulk Shipping Rates - November 28, 2008

Baltic Dry Index ( BDI ) - 715 Down 18
Baltic Cape Index ( BCI ) - 838 Down 20
Baltic Panamax Index ( BPI ) - 622 Down 31
Baltic Supramax Index ( BSI ) - 622 Down 10

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Dow Jones Analysis 12/1/08 - Stock Market

The following is Stock Market Technical Analysis for the Dow Jones ( DJIA ) for 12/1/08

Dow Jones Support & Resistance Levels - December 1, 2008

Resistance Levels: 8923.18, 9000, 9300
Support Levels: 8672, 8500, 8330

The Dow Jones has gone up five straight days and has built a nice support level at 8500-8600. Monday, Dec 1st will be a crucial day as the volume will come back into the market. I still think we will test 8923 and if we close above this level we can test the 50 day moving average which stands at 9244. Keep an eye on Fridays low of 8672. If 8672 is broken with volume, this will be your first sign that the rally is starting to fizzle out. Next key support that will need to hold would be 8500. There is major support at 8500 and if we close below that the sellers will come back in droves. You would probably get a retest of 8000. Bottom Line: I am still bullish here unless 8672 is broken, in that case you could see the majority of stocks start to give back their recent gains.

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Nasdaq Technical Analysis 12/01/08 - Dec 1, 2008

The following is Technical Analysis for the Nasdaq ( NAS ) for 11/30/08 & 12/1/08

Nasdaq Support & Resistance Levels - December 1, 2008

Resistance Levels: 1587.76, 1600, 1613
Support Levels: 1533, 1500

The Nasdaq continues to trend over key support of 1500. This is where i'd putting a stop order if I were trading stocks based on the Nasdaq. The Nasdaq cleared Wednesday's high of 1532.10 and If this continues to hold I think the Nasdaq will see a retest of the November 14th high of 1587.76. Then you would have strong resistance at 1600. On the Downside, i'm watching 1500, If we close under 1500, we will most likely retest the 10 day moving average which is at 1456 currently. If the Nasdaq closes below the 10 day moving average you will have selling pressure to the downside and we could go back to retest the lows of 1400 down to 1295. Bottom Line - Watch 1500 & 1533 on a closing basis. For more technical charts, Click Here

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Dow Jones Close 11/28/08 - Stock Market

Stock Market Closing Prices - 11/28/08

Dow Jones Industrial Average ( DJIA ) Close - 8829.04 Up 102.50
Nasdaq Stock Market Close - 1535.37 Up 3.47
S&P 500 Close - 896.24 Up 8.56

Libor Rates - 11/28/08

1 Month - 1.90%
3 Month - 2.22%

Commodities Closing Prices - 11/28/08

Gold - 818.60
Oil - 52.00
Natural Gas - 6.43

The Dow Jones Industrial Average closed at 8829 on 11/28/08, as the stock markets closed early today on Black Friday. The Dow Jones has now gone up 5 straight days after breaking through key resistance on Wednesday. Some of the biggest gainers today have been stocks like Citigroup ( C ), General Motors ( GM ), and Ford ( F ). These beaten down companies have been subject of a buying frenzy in the past few trading sessions. Visa ( V ) also continues to be strong and is getting near a breakout point. I still hold my MercadoLibre ( MELI ) position from $10 and my Google ( GOOG ) position from $270. I am looking to add Potash ( POT ) as soon as we get a close over the 10 day moving average which is down to $63 now. POT stock is $61.50. As long as the markets continue this current uptrend, I will stay long these stocks. On a side note, Carl Ichan has upped his stake in Yahoo ( YHOO ) to 5.5%, adding 6.8 million shares last week. This is something to watch as well.

Later today I will have Technical Analysis for the Nasdaq and the Dow Jones right HERE. Make sure you check it out!

Today's Biggest Gainers - November 28, 2008

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Dow Jones Open 11/28/08 - Stock Market

Today, 11/28/08, the Dow Jones and Stock Market's are opening up flat to down as investors appear to be taking profits after a nice last 4 trading sessions of gains. Keep in mind, this is a light volume trading session as most traders are not in the office today. The stock markets close at 1pm est. There doesn't appear to be much action but some of the biggest gainers include General Motors ( GM ), Ford ( F ), Citigroup ( C ), Fannie Mae ( FNM ) , and Freddie Mack ( FRE ). Chesapeake ( CHK ) seems to have stopped dropping just under $16 but I won't be trying to catch this falling knife. There are much better buys out there like Devon ( DVN ) and Anadarko ( APC ) if I want to get involved with the drillers. Baidu.com ( BIDU ) is also weak today, It has support at around $131 for a trade.

Dow Jones Open - 8729 Up 2
Nasdaq Open - 1518 Down 14
S&P 500 - 885 Down 2

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Stock Market Futures 11/28/08 - Dow Jones

The Stock Market and Dow Jones Futures are pointing lower for 11/28/08, as light volume will take hold of the trading session today. The stock market closes at 1pm as traders get set for more economic data to come out next week. Usually days like today are volatile but we'll have to see how we end the day. Check out my Dow Jones Chart, I am looking at buying support between 8500-8600 with a tight stop.

Dow Jones Futures - Down 79
Nasdaq Futures - Down 14
S&P 500 Futures - Down 9

Two of the biggest losers today will be Chesapeake Energy ( CHK ) and Mital Steel ( MT ). CHK is selling stock again...not very good, I sold my position in afterhours Wednesday when the news came out.

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1 and 3 Month Libor Rates - 11/28/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 11/28/08, are: 1 Month Libor Rate - 1.90% & 3 Month Libor Rate - 2.22%. The overnight Libor rate is 1.16%. As you can see, Libor Rates have changed today, November 28, 2008, the overnight Libor Rate really moved higher. Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.

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1 and 3 Month Libor Rates - 11/27/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 11/27/08, are: 1 Month Libor Rate - 1.99% & 3 Month Libor Rate - 2.20%. The overnight Libor rate is 0.99%. As you can see, Libor Rates have changed today, November 27, 2008, the one month Libor Rate shot up but the other two stayed the same.

Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.

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Dow Jones Analysis 11/28/08 - Stock Market

The following is Stock Market Technical Analysis for the Dow Jones ( DJIA ) for 11/28/08

Dow Jones Support & Resistance Levels - November 28, 2008

Resistance Levels: 8923.18, 9000, 9300

Support Levels: 8600, 8500, 8311

The Dow Jones has made its 4th straight up day closing over strong resistance of 8500-8600. We bounced off the 10 day moving average for the second straight day at around 8300. This is what you want to see if you are long this market. The only downside was the volume was light. The next level of resistance I am looking at is the 8923.18 high from mid November. If we can close above this level you could really get a nice spike to the 50 day moving average which is currently just under 9300. Dow 9000 will be tough to get through however, even harder then the 8500-8600 level today. Speaking of 8500, that is where I am putting my stop loss order... if we close under 8500 at any point, I think the selling comes right back into the market. Bottom Line - I am still very bullish here with a tight stop. Monday the volume will come back and we will see if this rally was for real!

The Stock Market ends at 1pm Est on Friday, November 28th, for the Holiday.

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Dow Jones Close 11/26/08 - Stock Market Closing Prices

Stock Market Closing Prices - 11/26/08

Dow Jones Industrial Average ( DJIA ) Close - 8726.61 Up 247.14
Nasdaq Stock Market Close - 1532.10 Up 67.37
S&P 500 Close - 887.64 Up 30.25

Libor Rates - 11/26/08

1 Month - 1.43%
3 Month - 2.18%

Commodities Closing Prices - 11/26/08

Gold - 815
Oil - 54.84
Natural Gas - 6.80

The Dow Jones Industrial Average closed at 8726.61 on 11/26/08, as the stock market shrugged off horrible economic data like durable goods and jobless claims to stage a 4th consecutive day of gains. The Dow Jones was down over 100 points at one point but by 10am it started the recovery to close up big today. Even the India Terrorist Attacks could not hurt these stock markets. Things are looking really good for the markets right now and we have broken out of a tough trading range of 8300-8600 on the Dow Jones. I will post new technical analysis later, HERE . I have now moved my stop order from 8280 to 8500 on the Dow Jones. The next level I am looking at is 8923.18. Keep in mind, today was a very light volume day and Friday will be as well. We will know if this rally is for real on Monday when everyone is back at their trading desks. One stock to note, Chesapeake Energy ( CHK ) has broken out today to close above $20. This is a very bullish sign for the stock.

Today's Biggest Gainers - November 26th, 2008

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Terrorist Attacks Mumbai India 11/26/08

There were some terrorist attacks in Mumbai India today, 11/26/08, and it appears to be starting to effect the stock markets. The Dow Jones has come off its highs this afternoon. Keep an eye on this situation. There appears to be 12 people killed now and Hotels are on fire. You are seeing oil go up on this news also.

Nov. 26, 2008 (Bloomberg) -- Three people were killed and 25 injured in multiple attacks across India’s financial capital, with shots fired near luxury hotels and the city’s main railway station, CNN-IBN reported.
The shootings took place at the Chhatrapati Shivaji Terminus, formerly known as Victoria Terminus, one of the two stations in downtown Mumbai, CNN-IBN said. There were also reports of explosions and continued firing, the channel said.

Full Article

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Biggest Stock Gainers 11/26/08 - November 26

The following list is the Top Stock Gainers Today, 11/26/08 - These stocks are straight up breaking out today.

Also, a little update on the Dow Jones - We are grinding it out in here between 8500-8600....I never said it would be easy but if we can close above 8600 today I expect another good day Friday. The Volatility Index ( VIX ) has come down to 56 today..very bullish! On a bearish note, the volume isn't that strong due to people being on vacation. Friday will be even worse given that we will close at 1pm. Monday, December 1st will be key!

Hottest Stocks November 26th, 2008

Pilgrams Pride ( PPC ) -NYSE - $1.28 up 137% - Oversold, nice Up Volume
Thornburg Mortgage ( TMA ) - NYSE - $.48 up 59% - Oversold up with FRE & FNM
Fannie Mae ( FNM ) - NYSE - .72 Up 53% - New CFO Named
Freddie Mac ( FRE ) - NYSE - $.80 Up 50% - Going up with FNM
General Motors ( GM ) - NYSE - $5.25 Up 48% - Oversold, Analyst: Bailout Likely
Emcore ( EMKR ) - Nasdaq - $2.03 Up 44% - Oversold,
Ford ( F ) - NYSE - $2.15 Up 30% - Analyst: Bailout Likely

Full List

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Stock Market Open 11/26/08 - Dow Jones

The Stock Market and Dow Jones are shaking off some bad economic data from this morning and going up off their lows. The Dow Jones opened up down about 140 but has now come back to only down 40 at 8440. As I noted in my Dow Jones Chart, we are stuck in a range from 8300 to 8600. The 10 day moving average is right at 8299 so a close below this would not be good. If we can get a close over 8500 and 8600 I think we start a new leg up vs this latest rally selling off. That is how I am playing it! The 10 day moving average held again this morning, but we still have a lot of trading left. I still have my Mercadolibre MELI position with a stop at $10, my Google ( GOOG ) position with a stop at $276, and a new Chesapeake Energy ( CHK ) position with a stop at $18. I might be a little bit early on CHK but I think if we get a close over $19 it could really start rocking. The real fireworks will happen with a close over $25. Citigroup ( C ) is also breaking out today....check out my chart from yesterday.

Check out Today's Art Cashin Comments and Meredith Whitney Comments

Today's Biggest Gainers - November 26th, 2008

General Motors GM is one of the biggest gainers up 20% to $4.28

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Art Cashin CNBC 11/26/08 - Market Bottom

Art Cashin was on CNBC 11/26/08, and gave comments about where we are in the stock market after this nice three day gain. You can see all of Art's past comments HERE.


What do we have to be Thankful for Art? Well, we Survived the year so far....feels very much like we're getting close to a bottom here.

Concern is growing that Bernanke thinks we are still at the edge of the cliff, and this is holding the markets back right now.

The market runs ahead of a bad economy, the stock market will rally well before we get out of this mess. We have a major move coming and I'm hoping its to the upside but we might get one more final washout. This is starting to look like the 1982 bottom.

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POT - Potash Analysis 11/26/08 - Potash ( POT ) Technical Analysis Nov 26, 2008

The following is Technical Analysis for Potash ( POT ). You can see the chart HERE

Potash ( POT ) Support and Resistance Levels - 11/26/08

Support - $55
Resistance - $65, $70

Potash ( POT ) is fighting with this $60 level after making a low at $54.80....There is major resistance at the 10 day moving average which is currently at $65 per share. As soon as we get a close over this level, I will be taking a long position with a tight stop. The last time this happened, we had a $23 move in 5 days. For me, there is no reason to get into this stock until Pot closes back over the 10 day moving average. When this trade plays out for me, I see a nice upside between $70-$80 per share. Until then, I will not fight the downtrend unless I try to trade it intraday.

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1 and 3 Month Libor Rates - 11/26/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 11/26/08, are: 1 Month Libor Rate - 1.43% & 3 Month Libor Rate - 2.18%. The overnight Libor rate is 0.99%. As you can see, Libor Rates have changed today, November 26, 2008, the overnight Libor Rate shot up but the other two have come down. Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.

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Stock Market Futures 11/26/08 - Dow Jones

The Stock Market and Dow Jones Futures are lower on 11/26/08, as we have had a huge three day run and it appears investors are taking a little bit of profits before the Thanksgiving Holiday. Things could get even worse later as initial jobless claims come out at 8:30am est as well as New Home Sales at 10am est. Meredith Whitney gave some comments this morning on Bloomberg, make sure you check those out.

Check out my Dow Jones Technical Analysis for today. I will be watching the 8280-8300 closely.

Stock Market Futures - Pre Market Trading - November 26, 2008

Dow Jones Futures - Down 95
Nasdaq Futures - Down 16
S&P 500 Futures - Down 11
Nikkei Close - 8213 Down 111


Today's Biggest Gainers - 11/26/08

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Meredith Whitney Bloomberg 11/26/08 - Citigroup C

Meredith Whitney of Oppenheimer was on Bloomberg today, 11/26/08, and she had comments on Citigroup ( C ) and the current financial crisis. Meredith Whitney warned people in August before this whole downturn, so I always find what she has to say interesting. She called this financial crisis before anyone over a year ago and she has even received death threats, but she has been right! On November 5th, 2008 - Meredith boldly came on CNBC's closing bell and told viewers there were still major problems with Citi and other financial stocks, predicting C stock would fall into the single digits. Citigroup was trading at $13.50 at that point. Friday, Citi stock sunk under $4 per share.

Meredith Whitney Comments - November 26, 2008 - Bloomberg

Citigroup ( C ) Bailout

Have we seen the Bottom for Citigroup? Its hard to say if the Fed's move will stop the slide of Citigroup stock. The cost of Citi's debt capital has soared.....the issue with the monies is that it just goes to plug holes....they look great this week, but by the fourth quarter they will look worse.

Banks are hoarding cash, consumers are hoarding cash, capital demands are changing and increasing on a daily basis. Assets are going to get cheaper from here on out, people aren't ready to catch a falling knife yet.

TARP 3.0 - Terms of the Tarp 3.0 deal were so beneficial to Citi, every single financial company has toxic assets and are carrying them at big levels. Some banks are reluctant to admit they need more capital....most banks are carrying bad assets just like Citigroup. Nothing will improve as long as there is asset deflation. It may take as many as five years to turn financials around.

To blame Vikram Pandit and not blame the board of directors is a bad call....Vikram Pandit was dealt a very bad hand when he came to Citigroup.

Earnings Growth - The Capital the banks are raising right now is going to plug holes, we will look back in a year and say, wow, those balance sheets were worse then we thought.



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Dow Jones Analysis 11/26/08 - Stock Market

The following is Stock Market Technical Analysis for the Dow Jones ( DJIA ) for 11/26/08

Dow Jones Support & Resistance Levels - November 26, 2008

Resistance Levels: 8500, 8607, 8923.18
Support Levels: 8280, 8175, 8000

The Dow Jones has closed above its 10 day moving average for the second straight day which is very bullish. The stock market looked ugly during the afternoon hours but the Dow Jones hit the 10 day MA at 8280 and bounced off to close at 8480. This is the type of action you want to see if you are long this stock market. The Dow Jones is still fighting with this 8500 level...we need to close over it and then close over 8600 and then I think we will test the 8923 high from Mid November. Right now we are in a very tight range from 8300 to 8600 and we could linger here for awhile until a new direction is taken. The Volatility Index ( VIX ) has come down to around 60 so this is also a bullish sign. Investors are starting to feel a bit more comfortable holding stocks right now. I am buying stocks every time we hit the 10 day moving average until further notice. This was the first time the Dow Jones went up three straight days since Sept 10th, 11th, and 12th of 2008. For my past technical charts of the Dow Jones - Go HERE

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Dow Jones Close 11/25/08 - Stock Market Closing Prices

Stock Market Closing Prices - 11/25/08 http://dowjonesclose.com


Dow Jones Industrial Average ( DJIA ) Close - 8479.47 Up 36.24
Nasdaq Stock Market Close - 1464.73 Down 7.29
S&P 500 Close - 857.30 Up 5.49

Libor Rates - 11/25/08

1 Month - 1.44%
3 Month - 2.20%

Commodities Closing Prices - 11/25/08

Gold - 820.40
Oil - 51.00
Natural Gas - 6.40

The Dow Jones Industrial Average closed at 8480 on 11/25/08, as the recent gains have held from Friday, Monday, and with the help of the government buying mortgage backed securities. Barack Obama also gave a new conference updating America on where he stands with the financial crisis. President Elect Obama has been working hard over the past week assuring Americans that although he is not the President as of yet, he is working hard to prepare himself from when he does take office. The Dow Jones surged in the final hour today on word that Fitch Rating Agency has upgraded Morgan Stanley's ( MS ) credit rating. MS sub debt is now rated " A ". This is very positive news for the financial sector and the overall stock market. Hot Stocks today included Google ( GOOG ) and Baidu ( BIDU ) as these two were incredibly oversold and are now bouncing. Citigroup ( C ) briefly traded over $6.50 but could not hold....I will continue watching this stock closely. If it breaks $5.70 I think it could go back to $5.
I will have analysis on the Dow Jones right here later tonight for the trading day tomorrow.

Today's Biggest Gainers - November 25, 2008 - Etrade ( ETFC ) was up big today as well as GGP. Las Vegas Sands ( LVS ) is another stock worth watching. D.R Horton ( DHI ) has made a late day surge in price today, closing up over 45% for the day.

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Etrade ETFC Applies for Tarp 11/25/08

Etrade Financial ( ETFC ) stock is breaking out to the upside 11/25/08 as they try to tap into the TARP Program. ETFC stock price is $1.20 up 35% today. It is among today's biggest gainers.

Nov 25, 2008 (BUSINESS WIRE) -- E*TRADE FINANCIAL Corporation (ETFC) today announced it continues to work constructively with regulators through each phase of its application for the U.S. Treasury's TARP Capital Purchase Program. The Company remains optimistic that it will receive the necessary approvals and expects to make an announcement in the near future.

E*Trade Financial Corp. (ETFC) said it's continuing to work with regulators on its application for the U.S. Treasury Dept.'s capital purchase program. The company said it is confident it will get the necessary approvals soon.

The lender and online broker's update comes a week after it said October was its best month in more than five years for new account openings. However, the company's shares have continued to fall as worried investors awaited news of the pending application for the government's Troubled Assets Relief Program.


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Dow Jones Open 11/25/08 - Stock Market

The Stock Market and Dow Jones are opening higher 11/25/08, as the Federal Reserve announced it will buy 600 billion in mortgage backed assets. This has been seen as very positive news. Check out my Dow Jones chart for technical analysis...8500 and 8600 are key levels. Also, Art Cashin pointed out 865 & 872 on the S&P 500. I am watching the QQQQ for a possible breakout above $28.80, or to see what it does at the support level of $27.80.

As for Cititgroup, guess what the High of Day is? $6.50

Stock Market Opening Prices - November 25th, 2008 10:05am Est.

Dow Jones Open - Up 127
Nasdaq Open - Down 4
S&P 500 Open - Up 14

Today's Biggest Gainers - 11/25/08 - GGP stock is on fire today after going up a lot yesterday!

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Art Cashin CNBC 11/25/08 - Market Bottom?

Art Cashin came on CNBC 11/25/08 and gave some comments on the current stock market conditions and his opinion on a possible stock market bottom.

Art Cashin Comments: November 25, 2008

The further away from the bottom you get, the more credible it becomes....we are watching volume to see if this can hold. We are watching levels on the S&P 500 of 865 and 872 as resistance levels.

People were waiting yesterday for sellers to come in the last half hour, they didn't arrive, so that made buyers scramble to buy.

We still have to give this rally a little more time to figure it out, is this just another bear market rally? Some say we have another leg down to go. For more comments from Art Cashin, go HERE

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Citigroup C Stock Analysis - 11/25/08 - Nov 25th

The following is technical analysis for Citigroup ( C ) stock for 11/25/08.

Citi C Support and resistance Levels - November 25, 2008

Resistance - $6.25-$6.50 & $7.75

Support - $6 & 5.25

Citigroup ( C ) stock has rebounded over the past two trading days but its coming up on resistance from Wednesday and Thursday's trading areas. Citigroup stock has resistance between $6.25-$6.35 all the way up until to $7.75 which is the 10 day moving average. I think if you get a close over $6.35 you could very well see $7.75 in the near future. Use these levels for a tight stop however. The real breakout point would be a close over yesterday's high of $6.50...this would bring in more technical buyers and shorts who will cover. If you want to be even safer, wait for Citi to close over the 10 day moving average for a few days. C stock has support at $5.25 but a close below this level would be very bearish and the sellers will come back. Bottom Line: I will be waiting for a close over $6.50 to get long Citigroup but will then use the same $6.50 as a stop to limit downside risk. For more technical analysis, go HERE

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1 and 3 Month Libor Rates - 11/25/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 11/25/08, are: 1 Month Libor Rate - 1.44% & 3 Month Libor Rate - 2.20%. The overnight Libor rate is 0.93%. As you can see, Libor Rates have changed today, November 25, 2008, all three Libor Rates have gone up compared to yesterday's Libor. This is the first time all three Libor Rates have gone up day to day since October.

Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.

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Stock Market Futures - 11/25/08 - Dow Jones

The Stock Market and Dow Jones Futures are up slightly on 11/25/08, as Asian Markets moved higher in response to our second straight day of gains yesterday. Oil is down $1.50 per barrel this morning despite this news. Check out my Dow Jones Technical Analysis for today.

Stock Market Futures - Pre Market Trading - November 25, 2008

Dow Jones Futures - Up 28
Nasdaq Futures - Up 1
S&P 500 Futures - Up 7
Nikkei Close - 8323.93 Up 413.94
Citigroup ( C ) Pre Market - $6.10

Today's Biggest Gainers - 11/25/08

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Dow Jones Analysis 11/25/08 - Stock Market

The following is Stock Market Technical Analysis for the Dow Jones ( DJIA ) for 11/25/08

Dow Jones Support & Resistance Levels - November 25, 2008

Resistance Levels: 8500, 8600, 8923.18

Support Levels: 8304, 8175, 8000

The Dow Jones broke out to the upside for the second straight day and closed over its 10 day moving average. This is very bullish! Testing 8500 was tough today but while we broke through it and hit a high of 8599, we failed to close above 8500. Tomorrow will be a big statement day for the stock markets as it could tell us a lot about where we are headed. Is this rally for real or is it just a normal bear market rally? I'm looking for a close above 8500 to get even more bullish and add to the rally. Support is now at the 10 day moving average around 8300 and as long as we stay above this level the Dow Jones will be ok. We also have support still at 8175 and 8000. A close below these two would be bearish and we will retest the 7449 low. We won't have a stock market bottom until we close over the 9794 high back in October....so while the last two days were bullish, we have a long way to go! For my past technical charts of the Dow Jones - Go HERE , Also - View Daily Stock Market Highlights from my blog.

For more stock market updates, visit, http://daytradingstockblog.blogspot.com/

Dow Jones Close 11/24/08 - Stock Market Closing Prices

Stock Market Closing Prices - 11/24/08 - http://dowjonesclose.com


Dow Jones Industrial Average ( DJIA ) Close - 8443.39 Up 397
Nasdaq Stock Market Close - 1472.02 Up 87.67
S&P 500 Close - 852 Up 52

Libor Rates - 11/24/08

1 Month - 1.41%
3 Month - 2.17%

Commodities Closing Prices - 11/24/08

Gold - 828
Oil - 54.50
Natural Gas - 6.89

The Dow Jones Industrial Average closed at 8443 on 11/24/08, as investors cheered the Citigroup Rescue package that was agreed upon today. It appears our Government will not let any big bank fail. Citigroup ( C ) stock went up over 50% and Goldman Sachs ( GS ) finally attracted buyers with their stock going up over 28%. This is the first time in awhile that the financials have been strong. Google ( GOOG ) was the only real laggard today as a firm cut Google to sell citing that the weak economy could cut into their earnings. REALLY? I think this news is overdone and the stock is severely oversold. Maybe one day these analysts will issue sell ratings at the top rather then the bottom. I took a shot on MercadoLibre ( MELI ) today into this strength but my stop order is super tight. So far my MELI long trade is working great!

The Stock Market looks great today, rallying for the second straight day....Art Hogan's bottom call might end up being correct. The QQQQ broke through major resistance at $27.80 during the afternoon hours. Next resistance is $28.80...if we close above this you could see a test of $30.25 once again.

The Dow Jones is testing the 8500 level I talked about over the weekend....the key was taking out 8175-8190 area. The Dow Jones is also closing over its 10 day moving average for the first time since the Barack Obama election rally. This is very bullish. I will have full Dow Jones Technical Analysis HERE later today.

Today's Biggest Gainers - November 24th, 2008

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Dow Jones Open 11/24/08 - Stock Market

The Dow Jones & Stock Market are opening up higher then Friday's close after Citigroup has been rescued and exisiting home sales were just reported better then expected. The Dow Jones is now trading above 8175 which was the closing low that held before last weeks downturn. We will have to see how long this lasts, but if the Dow Jones can close above this level it will be very positive news. For the Nasdaq, I follow the QQQQ as a key indicator. Some of you might remember that on the last breakout I pin pointed $30.25 as a breakout level. When we closed over $30.25 we did indeed get a nice breakout higher to $34.01.

I am looking at around $27.80 as our next break out point....this level was tested multiple times last week and it failed. If the QQQQ can get some nice volume through $27.80 and go into the $28's, I think we could be looking at a nice breakout to the upside developing. Your next level of resistance would be $28.78 and $30 Watch the QQQQ closely for a close back over $27.80. If we close above $27.80 I will be able to take more risk in trading other stocks because I feel it is more risky to be selling rather then buying.

November 24th, 2008 - 10:15am

Dow Jones Open - 8254 Up 207
Nasdaq Open - 1423 Up 39
S&P 500 open - 823 Up 23
QQQQ Stock - $27.50

Today's Biggest Gainers - 11/24/08

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Dow Jones Futures 11/24/08 - Stock Market

The Stock Market and Dow Jones Futures are screaming higher 11/24/08 as the government rescues Citigroup overnight. Oil, Gold, Natural Gas are all pointed higher as well. Today will be a big day for the stock market as traders digest this news and await Barack Obama's comments this afternoon on a wide range of subjects in addition to naming Tim Geithner Treasury Secretary. If President - Elect Obama says anything about waiting to raise taxes until 2010, you could see another upside explosion in stocks this afternoon.

Check out my Dow Jones Technical Analysis Chart

Dow Jones Futures - Up 145
Nasdaq Futures - Up 16
S&P 500 Futures - Up 17
Oil Futures - $51.78
Citigroup ( C ) Stock - $5.85 up 55.17%

Todays' Biggest Gainers - November 24th, 2008

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1 and 3 Month Libor Rates - 11/24/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 11/24/08, are: 1 Month Libor Rate - 1.41% & 3 Month Libor Rate - 2.17%. The overnight Libor rate is 0.81%. As you can see, Libor Rates have changed today, November 24, 2008, the overnight Libor Rate REALLY shot up mainly due to the Citi News.

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/

Citigroup ( C ) Bailout - Rescue 11/24/08

Citigroup ( C ) stock is set to open at $5.15 per share, or up around 35%, 11/24/08 as the Government has stepped in and bailed out this company.

• Federal officials will back the bank in the case of losses on about $306 billion of loans and mortgage-backed securities, while the Treasury Department has agreed to inject an additional $20 billion into the firm.
  
• Treasury and the FDIC will provide protection against the possibility of unusually large losses on an asset pool of approximately $306 billion of loans and securities backed by residential and commercial real estate and other such assets, which will remain on Citigroup's balance sheet
  
• As a fee for this arrangement, Citigroup will issue preferred shares to the Treasury and FDIC. In addition and if necessary, the Federal Reserve stands ready to backstop residual risk in the asset pool through a non-recourse loan

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Stock Market Futures 11/24/08 - Dow Jones

How will the stock market open on 11/24/08? The Stock Market and Dow Jones Futures are pointing slightly lower today.

Dow Jones Futures - Down 10
Nasdaq Futures - Down 2
S&P 500 Futures - Down 1

All eyes will be on Citigroup C news due out anytime now, rumors have the government backing Citigroup's losses with 100 billion in guarantees....also, a possible 20 billion dollar cash infusion.

For the latest stock market updates, visit, http://daytradingstockblog.blogspot.com/

Dow Jones Analysis 11/24/08 - Stock Market

The following is Stock Market Technical Analysis for the Dow Jones ( DJIA ) for 11/24/08

Dow Jones Support & Resistance Levels - November 24, 2008

Resistance Levels: 8175, 8348, 8500
Support Levels: 8000, 7965, 7773, 7500

Friday we got a big rally in the Dow Jones and broke through many key resistance levels with heavy volume. We broke back above the 7773 low, the 7965 low, and closed above 8000. This is very bullish....but we are still in a severe downtrend. As in my previous chart, there is major resistance at 8175-8190 and if we can close above those two levels, I think we can make a push up to 8500 just to see whats there. Monday will key as we will either build from this rally or fail and continue the downtrend. The 10 day moving average at 8348 will also bring sellers just like 8923.18 did. For me personally, I will hold my long positions with a stop at 7965 on the Dow Jones. Keep in mind, we had a great rally but we are only back to Wednesdays close...be cautious!

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Dow Jones Close 11/21/08 - Stock Market Closing Prices

Stock Market Closing Prices - 11/21/08

Dow Jones Industrial Average ( DJIA ) Close - 8046.42 Up 494.37
Nasdaq Stock Market Close - 1384.35 Up 68.23
S&P 500 Close - 800.01 Up 47.57

Libor Rates - 11/21/08

1 Month - 1.40%
3 Month - 2.16%

Commodities Closing Prices - 11/21/08

Gold - 800.70
Oil - 50.53
Natural Gas - 6.51

The Dow Jones Industrial Average closed at 8047 on 11/21/08, as investors learned late in the trading day that Timothy Geithner will be the new Treasury Secretary under Barack Obama. The Stock Market Futures were up big this morning, The Dow Jones futures were actually up 180 at one point but stocks sold off after Citigroup ( C ) fell below $4 per share. The Dow Jones hit a low of 7449 today but when the Geithner news was announced, the stock market exploded to the upside! I will have new Dow Jones Technical Analysis posted HERE this weekend. Get ready for more short covering and buying on Monday!

Today's Biggest Gainers - 11/21/08

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Tim Geithner Treasury Secretary 11/21/08

NBC News is reporting that Barack Obama will name Timothy Geithner the new Treasury Secretary on Monday, November 24, 2008.

The Stock Market is moving higher on this news....I'm watching for a possible close back over 7773 on the Dow Jones. This is new the markets were waiting for, some certainty in an uncertain market. This is positive news.


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Citigroup Tanking! C Stock under $4 11/21/08

The stock market was up nicely this morning but Citigroup C stock is tanking...it just hit $3.80 on very heavy volume. It is rebounding back over $4 but if you want to know where the stock market is headed, watch Citigroup ( C ). The Dow Jones is holding 7500 today which is positive! Today is options expiration so you will have a wild open and a wild close.

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Art Cashin CNBC 11/21/08 - Citigroup C

Art Cashin was on CNBC this morning, 11/21/08, talking about the markets and Citigroup C.


I think the rumor mongers are still into this game, we just need things to calm down and it will be fine with Citigroup (C).

Options expiration today: We have to see what they do in the final hour... maybe we tip toe into the weekend, regroup Monday, and maybe see if we are in the bottoming phase next week.

See All of Art Cashin's Comments HERE

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Mohamed El Erian Pimco CNBC 11/21/08 Comments

Mohamed El Erian, Pimco's CEO, which is the worlds largest bond investment firm, was on CNBC 11/21/08 and gave some comments about the Stock Market. Mohamed El Erian is a very bright man and knows what he is talking about.

This is a crisis of the system, and now within the system - rather then look for a market bottom, look for how the crisis will morph next. GDP has been falling off a cliff, the stock market is now realizing this and pricing it in. We are looking at 4th quarter GDP that could be down 4 or 5%.

We are witnessing a redefinition of long term market landscape. I was in the Middle East two weeks ago, you would expect them to be stepping in and buying these mispriced assets but they are not, they are confused.

The bond market is telling you this is about massive liquidation, there is a heart attack in the system. It has gone from deleveraging to massive liquidation.

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1 and 3 Month Libor Rates - 11/21/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 11/21/08, are: 1 Month Libor Rate - 1.40% & 3 Month Libor Rate - 2.16%. The overnight Libor rate is 0.70%. As you can see, Libor Rates have changed today, November 21, 2008, the overnight Libor Rate REALLY shot up . Here are Previous Libor rates.

For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/

Stock Market Futures 11/21/08 - Dow Jones

Today, 11/21/08, the Stock Market and Dow Jones Futures are pointing significantly higher after yesterdays late day sell off. Asian and European Markets bounced today which has put a spike higher in our markets. Dell ( DELL ) also came out with pretty good earnings numbers last night as the company continues to cut costs each quarter. So far, its looking like a good day ahead. For Technical Analysis - Check Out my latest CHART

Stock Market Futures - November 21st, 2008

Dow Jones Futures - Up 179
Nasdaq Futures - Up 31
S&P 500 Futures - Up 19

Asian Markets 11/21/08

Nikkei Close - 7911 Up 208
Hang Seng Close - 12764 Up 361

For the latest stock market updates, visit, http://daytradingstockblog.blogspot.com/

Dow Jones Analysis 11/21/08 - Stock Market

The following is Stock Market Technical Analysis for the Dow Jones ( DJIA ) for 11/21/08

Dow Jones Support & Resistance Levels - November 21, 2008

Resistance Levels: 7773, 8000, 8175

Support Levels: 7500, 7000

Today the Dow Jones broke the Oct 10th low's of 7773. You are seeing the Volatility Index ( VIX ) spike above 80 with this panic. We hit my first level of support at the close, between 7500-7600. If 7500 does not hold tomorrow I am looking for 6900-7100 to buy. It will most likely be quick and you could really get a rip roaring rally from that point. You might even see 8000 after 7000 is hit - It wouldn't surprise me at all in this stock market. The VIX could spike back into the 90's. Both 7773 and 8000 were support, but now will be resistance and people will be selling at these levels. Keep this in mind when you are trading. Also, a huge area of resistance is around 8175 -8190 which were the highs today.....when we close above this level, you could see a push up to 8500. Check out my previous Dow Jones Charts.

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Dow Jones Close 11/20/08 - Stock Market Closing Prices

Stock Market Closing Prices - 11/20/08

Dow Jones Industrial Average ( DJIA ) Close - 7552.29 Down 445
Nasdaq Stock Market Close - 1316.12 Down 70.30
S&P 500 Close - 752.47 Down 54.12

Libor Rates - 11/20/08

1 Month - 1.40%
3 Month - 2.15%

Commodities Closing Prices - 11/20/08

Gold - 746
Oil - 49.60
Natural Gas - 6.28

The Dow Jones Industrial Average closed at 7552 on 11/20/08, as investors woke up to crashing Asian Markets and the fact that our stock market closed below key support Dow 8000 yesterday. The Stock Market Futures actually went positive this morning when some Citigroup news came out. Citi stock traded $6.80's in pre market. That didn't last long though! Art Hogan and Art Cashin gave their comments on the stock market, both agreeing we will test the lows today. When the Stock Market opened, we hit 7776 on the dow and then bounced on word the big 3 automakers were getting some kind of bail out. This news sent General Motors ( GM ) and Ford ( F ) stock up significantly. It also took the Dow Jones Industrial Average to yesterdays support level ( which is now resistance ) 8175. When we hit 8175, we sank back down below the Art Hogan Bottom of Oct 10th. It turns out, we won't know about an Auto Bailout until December. Wall Street does not like this at all! We need clarity! There is a ton of money on the sidelines just waiting to get back in when the time is right, but there is no catalyst to buy stocks right now because we don't have clarity. When this money does end up coming back in, you could see two back to back 1000 point Dow Jones up days. The question is when??

I will post another technical chart of the Dow Jones tonight, you can find there HERE I continue to see support at 7500-7600 and also 7000 or just above. This would be a nice trade able area if you are actually trading this market like I have been doing. Right now its really tough out there, but it will all get better in time.

Biggest Gainers - November 20th, 2008

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General Motors ( GM ) Ford ( F )11/20/08 - Bailout

Senators in Washington are going to hold a news conference about a possible bailout agreement on the big three automakers including General Motors ( GM ) and Ford ( F ) at 2:30pm est today, 11/20/08.

Both GM and F stocks are exploding to the upside, General Motors actually hit $1.70 at one point today and is now back over $3.50 per share. Ford hit $1.01 per share and is now $1.70.

The Hogan Bottom held this morning, we bounced off the 7773 low and we are now testing 8175 resistance from yesterday which was support. Check out THESE charts for analysis. I will have a new chart tonight after the closing bell.

For the latest stock market updates, visit, http://daytradingstockblog.blogspot.com/

Dow Jones Open 11/20/08 - Stock Market

The Dow Jones and Stock Market's are opening up weaker 11/20/08 as we are seeing following through on selling from yesterday. The Dow Jones is testing the 7773 intraday low and closing lows of Oct 10th, 2008. We actually hit 7776 and bounced. I will note however, Amazon.com ( AMZN ) VERY strong this morning. Watch Apple ( AAPL ) and Exxon Mobile ( XOM )...if these stocks can turn green the market will rally.


Dow Jones Opening Prices 11/20/08 - 10:40am

Dow Jones - 7857 Down 140
Nasdaq- 1368 Down 18
S&P 500 - 786 Down 20

Todays Biggest Gainers - Ambac ABK

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Hogan Bottom: Art Hogan 11/20/08 CNBC Comments

Art Hogan, Chief Market Strategist at Jefferies & Company was on CNBC this morning, 11/20/08, and gave comments and stock market predictions. Art Hogan is popular for what CNBC calls, " The Hogan Bottom " due to his bottom call on October 10th, 2008 when everyone was panicking. Art Hogan boldly called the bottom on 10/10/08 and sure enough, so far it turns out he was right ( Although we will be testing Art Hogan's Bottom Call Today! ). Below is what he had to say November 20th, 2008. Previous Comments - HERE

Art Hogan CNBC Comments:

Its a difficult day to come back on CNBC, we breached the S&P 500 and Nasdaq closing lows, I guess the Dow Jones could be next....the biggest changes were GM and the big three automakers, use of the tarp changed, financials down 22% over the past week. It's going to be a difficult morning. The problem is structurally things have changed!

Can we get a reversal today? We need clarity on the automotive industry, we'd also like to hear who the next Treasury Secretary will be for the next Administration. The market needs clarity!

Advice for us Art? It's going to be a tough couple of days, as soon as we find out a new plan of where we are going, the better we are going to be.

For more stock market updates, visit, http://daytradingstockblog.blogspot.com/

Art Cashin CNBC 11/20/08 - Stock Market Comments

Art Cashin of UBS was on CNBC, 11/20/08, and gave some comments and opinion on the stock market. You can find all of Art Cashin's comments HERE

Art Cashin November 20th, 2008:


We have to take a look at the mark to market accounting rules because obviously nothing else is working right now, they are zeroing in on Citigroup C and other banks.

Today, we need to see if the Dow Jones tests and holds the Oct 10th intra day low level of 7773, see if it produces a meaningful bounce, if it breaks, you are probably looking at some cascade selling that follows. But for now, let hope 7773 on the Dow holds today.

For more updates on the Stock Market, visit, http://daytradingstockblog.blogspot.com/

1 and 3 Month Libor Rates - 11/20/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 11/20/08, are: 1 Month Libor Rate - 1.40% & 3 Month Libor Rate - 2.15%. The overnight Libor rate is 0.44%. As you can see, Libor Rates have changed today, November 20, 2008, for the better. Here are Previous Libor rates.

For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/

Citigroup C 11/20/08 - Saudi Prince Upping Stake to 5%

Saudi Prince Alwaleed plans to up his stake in Citigroup ( C ) to 5%. This news is just crossing the wires on 11/20/08, Citigroup is up about 5% on this news to the $6.80's and it is turning the stock market futures around this morning. Citigroup has apparently raised 50 billion in private capital, something the market did not know.

This could be a big market mover today....stay tuned

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Dow Jones Technical Analysis

Stock Market Futures 11/20/08 - Dow Jones

The Stock Market and Dow Jones Futures for 11/20/08 are set lower this morning. Heavy selling in the Asian and European Stock Markets took place over night. Futures do not look as bad as expected, but we closed below 8000 yesterday which is concerning.

http://dowjonesclose.com

Pre Market 11/20/08

Dow Jones ( DJIA ) Futures - Down 60
Nasdaq Futures - Down 10
S&P 500 Futures - Down 8

Nikkei Stock Market Close - 11/20/08 - 7703 Down 570

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Dow Jones Analysis 11/20/08 - Stock Market

The following is Stock Market Technical Analysis for the Dow Jones ( DJIA ) for 11/20/08

Dow Jones Support & Resistance Levels - November 20, 2008

The Dow Jones closed below 8000 for the first time during this latest leg down, very bearish. Support Levels to look at right now are 7965 and 7773. If these don't hold, look for 7500-7600 to be tested. If 7500 is closed below, I think you could see the first digit on the Dow become a 6 sometime down the line. These are the support levels to watch for the Dow Jones Industrial Average ( DJIA ). Now, which resistance level do you want to be watching for an upside spike? I think 8504, the November 19th high is a great place to look....if the Dow Jones can close below 8000 and then spike up to take out the 8504 high, I think you could see 8800-9000 be tested again. November 20th, 2008 will be a crucial day for the stock markets. Just remember, stocks down go straight down without bounces, nor do they go straight up without corrections. Check out my previous Dow Jones Charts.

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Dow Jones Close 11/19/08 - Stock Market

Dow Jones & Stock Market Closing Prices - 11/19/08

Dow Jones Industrial Average ( DJIA ) Close - 7997.28 Down 427
Nasdaq Stock Market Close - 1386.42 Down 97
S&P 500 Close - 807 Down 52

Libor Rates - 11/19/08

1 Month - 1.41%
3 Month - 2.17%

Commodities Closing Prices - 11/19/08

Gold - 735
Oil - 53.13
Natural Gas - 6.70 < ----- A Bright Spot! http://oilshalegas.com

The Dow Jones Industrial Average closed at 7997 on 11/19/08, as investors continued to sell stocks, especially the financials. The Stock Market Futures were down slightly this morning, The Dow Jones futures were actually down around 100 at one point this morning right around the time the CPI number came out. The Dow Jones was actually up 45 points right at the open but selling quickly took hold. The Nasdaq was very weak today, down 50-60 points for most of the day. Goldman Sachs ( GS ) and Citigroup ( C ) were the laggards as far as financials go. Citigroup is under $7 today! Remember what Meredith Whitney said when Citi was trading around $12 just a few weeks ago? These two stocks usually set the tone for the day. Other stocks I watch are the QQQQ, AAPL, and XOM. You can tell a lot about what the stock market will do by watching these stocks. To sum up the day, I think investors are nervous about financials again as well as the big three automakers and whether they will get bailed out. Having them go bankrupt could really hurt our economy even more. You are talking over 2 million jobs being lost if GM, Ford, and Chrysler would go Bankrupt. We are now Retesting the Lows on a closing basis...very bearish!

The Dow Jones was bouncing off 8175 all day but in the last hour it was taken out with nice volume. We closed below 8000 for the first time! I am now looking for 7965 to be tested tomorrow. We are only about 30 points away. I will try to get a new chart up later tonight but for now you can use THIS ONE

Volatility Index ( VIX ) - 11/19/08

The VIX index which measures how volatile the stock markets are hit 75 today, spiking nearly 10%. If you recall, back in October the VIX topped out at 90 before retracing back to 45 the day after the Election. The Volatility Index is something to watch!


Biggest Gainers - November 19, 2008

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