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Friday, February 6, 2009

Nasdaq Analysis 2/09/09 February 9, 2009

The following is Technical Analysis for the Nasdaq ( NAS ) for 2/9/09

Nasdaq Support & Resistance Levels - February 9, 2009

Resistance Levels: 1600, 1665

Support Levels: 1530, 1500, 1476, 1434

The Nasdaq continues to break out and trade back to the 1600 resistance level. I expect 1600 to give the Nasdaq some problems but if it closes over this level for a few days we, could see a retest of the 1665.63 which was the early Jan 2009 high.
Support: Every time the Nasdaq has broken out well above the 10 and 50 day moving averages lately, it has always come back to retest them. I would be buying dips back to the 1500-1530 area. 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 2/6/09 - Stock Market Closing Prices

Stock Market Closing Prices - 2/6/09

Dow Jones Industrial Average ( DJIA ) Close - 8280.59 Up 217.52
Nasdaq Stock Market Close - 1591.71 Up 45.47
S&P 500 Close - 868.57 Up 22.72

Libor Rates - 2/6/09

1 Month - 0.449%
3 Month - 1.241%

Commodities Closing Prices - 2/6/09

Gold - 912.20
Oil - 40.30
Natural Gas - 4.80

The Dow Jones Industrial Average closed at 8280 on 2/6/09, as the stock market rallied on hopes of a stimulus package decision as well as Timothy Geithner's plan to fix the banking sector due out on Monday. The Dow Jones Futures were down coming into today, but after the jobs report ( loss of 598,000 jobs - unemployment rate - 7.6% ) was released stocks soared.

Leading gainers today were Bank of America ( BAC ), Fifth Third Bancorp ( FITB ), and Regions Financial ( RF ). Technology stocks were hot once again as Google ( GOOG ), Apple ( AAPL ), Research in Motion ( RIMM ), and Amazon ( AMZN ) continued to rise.

The Nasdaq failed at 1600 and the Dow Jones is could retest its 50 day moving average next week. I will have full technical analysis of the stock market over the weekend, Right Here

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

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POT, AAPL, V, DRYS Analysis 2/6/09 - February 6, 2009

I updated the following technical anlaysis charts at

Technical Analysis Updates: February 6, 2009

Visa - V
Apple - AAPL
Dryships - Drys
Potash - POT

I will sneak in a little side note for the people who view my blog every day. I believe the stock market is rallying today due to the potential of the stimulus package, short covering, and possible change in mark to market accounting rule or a Timothy Geithner toxic asset purchase plan. The Dow has broken out of a trading range and could test the 50 day moving average next week around 8470.

This is a classic buy the rumor day which could extend into early next week, but I believe traders will sell the above news when it is released.

Oil markets: Oil is falling as the back month contract gets sold, and the front month contract comes in. This is effecting the USO in what it called Contango. I am waiting for the USO to close back over the 10 day moving average for a nice rip higher.

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Hot Penny Stocks 2/6/09 February 6, 2009 - ZILA, STSA

Today, 2/6/09, there are a few penny stock gainers breaking out to the upside. Be sure to check out the Top 2009 Penny Stock Gainers on the NYSE, Nasdaq, and AMEX.

Penny Stock Gainers - February 6, 2009

Zila ( ZILA ) - $0.66 Up 57% - ZILA has been spling higher for days, larger then average volume. This is the only news I can find that is recent.

Sterling Financial ( STSA ) - $2.08 Up 26.88% - STSA is getting a bounce with the bank stocks such as FITB, HBAN, BAC, C

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Biggest Stock Gainers 2/6/09 - February 6, 2009

Today, February 6, 2009, there are several stock gainers that are breaking out with some nice momentum. If you are looking to day trade today, you might want to check out the following stocks. Check out today's biggest gainers and the Top Stocks for 2009.

Hot Stocks 2/6/09 - Biggest Gainers Today

Skyworks Solutiuons ( SWKS ) - $6.48 Up 29% - Skyworks posts higher 1Q profit. Skyworks 1st-quarter profit climbs 15 percent, revenue nearly flat. I believe Jim Cramer also might like this stock as well.

Fifth Third Bancorp ( FITB ) - $2.00 Up 21.50% - Regional Banks are bouncing today as the market is breaking out to the upside. Also check out HBAN and BAC as well.

Omniture ( OMTR ) - $11.00 Up 21.00% - OMTR reports great earnings - 2008 Revenues Increase 107%; Q4 Revenues Increase 93% Year-Over-Year; More Than 250 New Customers Added in Q4

Check out the biggest stock gainers today.

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Art Hogan CNBC Hogan Bottom 2/6/09

Art Hogan - managing director at Jefferies came on CNBC this morning and gave an update on where he stands on the stock market. Art Hogan is famous for a CNBC term, Hogan Bottom.

Art Hogan Comments - February 6, 2009

Things are looking positive

- Market digesting bad news, good sign
- Looking at stimulus plan as being constructive
- You are seeing risk is moving higher, people are buying apparel retailers, people coming out of stocks like Wal Mart ( WMT ) and the 10 year treasury and taking on some risk.

Sectors to Avoid

Residential Real Estate and Auto Sector

What is the Hogan Bottom?
Art Hogan November 2008

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Mohamed El Erian Pimco CNBC 2/6/09 Comments

Mohamad El Erian of Pimco was on CNBC today, 2/6/09, and gave some comments on the economy and jobs report that was out today. The US lost 598,000 jobs in January and the unemployment rate shot up to 7.6%. The stock market is bouncing higher on this news, good sign!

Mohammad El-Erian CNBC Comments - February 6, 2009

I think the employment number is very concerning...we lost half of the total jobs in the last
few months....its telling you in a very clear and loud manner that we are in a crisis.

How to fix the financial system?

You need a shock and awe approach to banks balance sheets, you can't do it in rounds like we have been doing it. You need to impact balance sheets enough so private capital can come in, and banks lending can resume.

Take bad assets off balance sheets, its not going to be easy, its not going to be perfect, but
we need something significant.

The global economic crisis will get worse before it gets better, we need to get new capital to come into the market. Right now, the rest of the world is looking to the USA for leadership under President Obama.

For past Mohamad El Erian comments, Go Here

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Baltic Dry Index Shipping Rates - 2/6/09 BDI

The following is a report on Dry Bulk Shipping Rates for 2/06/09. 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 - February 6, 2009 - Up 14 Straight Days

Baltic Dry Index ( BDI ) - 1642 Up 144
Spot 4 - TC Average - 30001 Up 3506
Baltic Cape Index ( BCI ) - 2999 Up 265
Baltic Panamax Index ( BPI ) - 1251 Up 123
Supramax Index ( BSI ) - 854 Up 71
Past Bulk Shipping Rates

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1 and 3 Month Libor Rates - 2/6/09 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 2/6/09, are: 1 Month Libor Rate - 0.449% & 3 Month Libor Rate - 1.241%. The overnight Libor rate is 0.310%. As you can see, Libor Rates have changed today, February 6, 2009. The Overnight Libor Rate fell, 1 month rose, and the 3 month Libor Rate stayed the same.

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

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