Stock Market Closing Prices - 12/09/08
Dow Jones Industrial Average ( DJIA ) Close - 8691.33 Down 242.85
Nasdaq Stock Market Close - 1547.34 Down 24.40
S&P 500 Close - 888.65 Down 21.05
Libor Rates - 12/09/08
1 Month - 1.64%
3 Month - 2.16%
Commodities Closing Prices - 12/09/08
Gold - 776
Oil - 42.25
Natural Gas - 5.61
The Dow Jones Industrial Average closed at 8691 on 12/09/08, as investors took profits after a horrible outlook from Fedex ( FDX ) . The Stock Market Futures were down to flat this morning and when the Stock Market opened, the Dow Jones never really managed to go positive but the Nasdaq was up 35 at one point. The technology sector was very strong. One of the biggest gainers for the second straight day was DryShips ( DRYS ). This sector has been so oversold that a bounce was more then overdue. The volume in all the bulk shipping stocks was very high today, a good sign. The S&P 500 was fairly strong during the day but slipped below 900 is afternoon trading. At 3:26pm today, Wal Mart ( WMT ) has announced that they are suspending their share repurchase program. This is interesting news and is adding pressure to the Dow Jones Industrial Average. WMT stock is down 3.0% today. Could this signal Wal Mart is ready to buy another company? I will have technical analysis of the Nasdaq and Dow Jones, later, right HERE
Today's Biggest Gainers - December 9th, 2008
Top 2008 Stocks Year to Date
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Showing posts with label 12/9/08. Show all posts
Showing posts with label 12/9/08. Show all posts
Tuesday, December 9, 2008
Santa Claus Rally - Art Cashin CNBC 12/9/08
Art Cashin of UBS was on CNBC this morning, 12/9/08, and gave some comments on this recent Santa Claus rally.
I don't know if the Santa Claus rally is here yet, Friday's action was great after bad news, the two days ( Friday and Monday ) weren't frenzied, 4% moves tend to happen in bear markets which is a little concerning.
What are you most worried about? You have to worry about a major geopolitical event that could halt this rally. I'm worried about that we committed over a trillion dollars and if we get some sort of geopolitical event, where is the money going to come from? The economic data that will be coming out this week is rear view mirror looking and the market already knows it will be bad. For more Art Cashin comments, go HERE
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I don't know if the Santa Claus rally is here yet, Friday's action was great after bad news, the two days ( Friday and Monday ) weren't frenzied, 4% moves tend to happen in bear markets which is a little concerning.
What are you most worried about? You have to worry about a major geopolitical event that could halt this rally. I'm worried about that we committed over a trillion dollars and if we get some sort of geopolitical event, where is the money going to come from? The economic data that will be coming out this week is rear view mirror looking and the market already knows it will be bad. For more Art Cashin comments, go HERE
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DryShips DRYS Stock up 13% 12/09/08 - Pre Market
Today, 12/9/08, DryShips ( DRYS ) is one of leading stock gainers in pre market trading. DryShips is up 13% in early trading after going up 50% yesterday.
There really isn't any news with this stock as the sector is just extremely oversold and when you have these big bear market rallies, the most beaten down sectors tend to get the biggest bounces.
Dryships has hit my $8 target today in pre market and if Drys can remain strong, it could potentially see $10-$12.50 which are the next two resistance points. I would be cautious as Baltic Shipping Rates are still at rock bottom. This could be only a short squeeze! The true test is if the overall stock market starts to roll over, you see these bulk shipping stocks ( DRYS, DSX, EXM ) staying semi strong rather then totally rolling over.
To be continued.......
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There really isn't any news with this stock as the sector is just extremely oversold and when you have these big bear market rallies, the most beaten down sectors tend to get the biggest bounces.
Dryships has hit my $8 target today in pre market and if Drys can remain strong, it could potentially see $10-$12.50 which are the next two resistance points. I would be cautious as Baltic Shipping Rates are still at rock bottom. This could be only a short squeeze! The true test is if the overall stock market starts to roll over, you see these bulk shipping stocks ( DRYS, DSX, EXM ) staying semi strong rather then totally rolling over.
To be continued.......
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General Motors GM - Ford F - 12/09/08 - Stock Report
Today, 12/09/08, General Motors ( GM ) and Ford ( F ) stocks are down in pre market trading. After, closing at $4.93 on Friday, GM stock is set to open lower at $4.75 per share. Ford ( F ) will also be opening lower around $3.32 after closing at $3.38 on Monday.
The big three automakers, General Motors, Ford, and Chrysler are getting closer to receiving bailout money but it still isn't a done deal. Democrats sent a proposal to the White House last night but Republicans are seeing fault in deal. Democrats are expected to vote in a special session this week in regards to giving the big three auto markers some sort of bailout.
The terms of the loan have 15 billion being handed out and the Government potentially taking stakes in the companies. These auto makers will most likely need more capital in a few months.
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The big three automakers, General Motors, Ford, and Chrysler are getting closer to receiving bailout money but it still isn't a done deal. Democrats sent a proposal to the White House last night but Republicans are seeing fault in deal. Democrats are expected to vote in a special session this week in regards to giving the big three auto markers some sort of bailout.
The terms of the loan have 15 billion being handed out and the Government potentially taking stakes in the companies. These auto makers will most likely need more capital in a few months.
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
1 and 3 Month Libor Rates - 12/09/08 - Today's Libor Rates
It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 12/9/08, are: 1 Month Libor Rate - 1.635% & 3 Month Libor Rate - 2.164%. The overnight Libor rate is .14%. As you can see, Libor Rates have changed today, December 9, 2008, both 1 month and 3 month Libor fell today, a very good sign for the credit markets. The overnight Libor Rate went down the most!
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/ or Subscribe for Free
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/ or Subscribe for Free
Dow Jones Futures 12/09/08 - Stock Market
Today, 12/9/08, the Stock Market futures are indicated mixed after being down most of the morning. Sony ( SNE ) is cutting jobs, FedEx (FDX ) reported horrible guidance, and Texas Instruments ( TXN ) also warned. Check out my Dow Jones Technical Chart for keys levels going forward. This could be one volatile day today!
Pre Market Trading - 12/9/08
Dow Jones Futures - Down 29
Nasdaq Futures - Down 6
S&P 500 Futures - Flat
Top Stock I will be trading today is Hartford Financial ( HIG ) - this stock has the volume and and volatility that doesn't come around often.
Today's Biggest Gainers - December 9, 2008
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Pre Market Trading - 12/9/08
Dow Jones Futures - Down 29
Nasdaq Futures - Down 6
S&P 500 Futures - Flat
Top Stock I will be trading today is Hartford Financial ( HIG ) - this stock has the volume and and volatility that doesn't come around often.
Today's Biggest Gainers - December 9, 2008
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Monday, December 8, 2008
Dow Jones Analysis 12/9/08 - Stock Market
The following is Technical Analysis for the Dow Jones for 12/9/08
Dow Jones Support & Resistance Levels - December 9, 2008
Resistance Levels: 9000, 9323, 9653
Support Levels: 8831, 8675, 8558, 8350
http://stockcharts.com - Chart
The Dow Jones broke through 8831, 8923, 9000, but failed to close above the 50 day moving average today. This is a level we haven't tested for awhile and this is where the real fight will begin. The Dow Jones has support at 8831, 8675, and the 10 day moving average at 8558. These are levels I will look to buy, especially pullbacks to the 10 day moving average. Keep in mind, we broke through two previous high points today ( 8831, 8923 ) and this is very bullish. However, we have bounced 1500 points in the past two weeks from the lows. If we get a nice year end rally, we could be looking at testing the Election High of 9653.95 but this is a level where i'd start to sell and will be doing so. Keep an eye on the 10 day moving average for a sign of a break down if we close under it. We have only closed under the 10 day moving average once in the past 11 trading session. If you get two straight days this will be your bearish sign.
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Saturday, December 6, 2008
Apple AAPL Analysis 12/8/08 - December 8, 2008
The following is technical analysis for Apple Inc ( AAPL ) stock for 12/08/08. You can find a chart of this technical analysis by visiting - http://blackberrystocks.com/aapl.html
Apple ( AAPL ) Technical Analysis:
Apple ( AAPL ) appears to getting ready to break out to the upside after closing over the 10 day moving average for the past nine trading sessions. This hasn't happened since back in the spring. I am looking to get long as soon as Apple breaks the $96.23 high and the next resistance level would be located at $100...if AAPL can close over $100, you are looking at testing $112 once again. The real fireworks will happen if you can get a close over $116.40 and $120. As for support, $89 seems to have held on a closing basis over the past several weeks and this is where I'd put my stop. After a long basing period, Apple stock seems to be ready for a major move in my opinion. Watch $96.23
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Apple ( AAPL ) Technical Analysis:
Apple ( AAPL ) appears to getting ready to break out to the upside after closing over the 10 day moving average for the past nine trading sessions. This hasn't happened since back in the spring. I am looking to get long as soon as Apple breaks the $96.23 high and the next resistance level would be located at $100...if AAPL can close over $100, you are looking at testing $112 once again. The real fireworks will happen if you can get a close over $116.40 and $120. As for support, $89 seems to have held on a closing basis over the past several weeks and this is where I'd put my stop. After a long basing period, Apple stock seems to be ready for a major move in my opinion. Watch $96.23
For the latest updates on the stock market, visit, http://daytradingstockblog.blogspot.com/ or Subscribe for Free
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