Dow Jones Close 12/17/08 - Stock Market Closing Prices

Stock Market Closing Prices - 12/17/08

Dow Jones Industrial Average ( DJIA ) Close - 8824.34 Down 99.80
Nasdaq Stock Market Close - 1579.31 Down 10.58
S&P 500 Close - 904.40 Down 8.78
http://dowjonesclose.com

Treasury Rates 12/17/08 - 10 Year Treasury Note - 2.19% 30 Year Treasury Note 2.66% 2 Year Treasury Note - .74%

Libor Rates - 12/17/08 - 30 Day Libor Rate - .581 , 90 Day Libor - 1.578

Commodities Closing Prices - 12/17/08

Gold - 869
Oil - 40.47
Natural Gas - 5.60

The Dow Jones Industrial Average closed at 8824 on 12/17/08, as the stock market gave back some of yesterday's gains but closed higher on the day. The Dow Jones Futures were down this morning with profit taking and grim Apple ( AAPL ) news. MacWorld is being cancelled starting in 2010 and Steve Jobs will not be making his keynote speech in the 2009 MacWorld. Wall Street is now pricing into the stock the potential health problems associated with Steve Jobs. There has been some big selling hitting AAPL below $90. The Dow Jones and Nasdaq are having trouble near their resistance levels of 9000 & 1600 respectively but pullbacks near their 50 day moving average continue to be bought. Morgan Stanley MS earnings were in line and that stock was up over 10% today at one point. Goldman Sachs ( GS ) added to the gains yesterday as well. The Solar Stocks were breaking out today, First Solar ( FSLR ) was up over 10%. Energy Conversion Devices ( ENER ) was up big as well. I will have more technical analysis of the markets later tonight.


Todays Biggest Stock Market Gainers : Dynavax ( DVAX ) was the largest gainer today.... after hitting .70 at the open, it was all uphill from there!

Top 2008 Stocks

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10 Year Treasury Note 12/17/08 - December 17, 2008

The 10-year Treasury note yield has become the security most frequently quoted when discussing the performance of the U.S. government-bond market and is used to convey the market's take on longer-term macroeconomic expectations. Treasury notes are a stated interest rate, and the owner receives semi-annual interest payments.

Today, 12/17/08, the 10 Year Note fell to a new low hitting 2.074 but has rebounded up to 2.162 in the afternoon. This is an all time low, or the lowest since the Federal Reserve started keeping historic data. The fall in the 10 year note signifies that the Credit Crisis that started around sixteen months ago is far from over.

This is a situation worth watching!

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Apple AAPL Stock Analysis 12/17/08 December 17

The following is technical analysis for Apple ( AAPL ). I will have an updated AAPL Chart showing this analysis tonight. Due to stockcharts.com rules, you cannot take chart snaps during trading hours.

Apple AAPL Technical Analysis December 17th, 2008

AAPL gapped below support of $95 today on fear over Steve Jobs health and has hit a low of $88 in which Apple has bounced off of twice today. The $88-$89 area has been a good level of support over the past 2 months. If this level breaks the next two support levels are $85 and $79.14 area. Resistance: Apple now has resistance at today's high of $91.10 and the previous support level of $95. Apple will continue to see selling pressure as long as it remains under the 10 & 50 day moving averages.

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Dry Bulk Shipping Rates Report - 12/17/08 DRYS

The following is a report on Dry Bulk Shipping Rates for 12/17/08. 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 - December 17th, 2008

Baltic Dry Index ( BDI ) - 836 Up 8
Baltic Cape Index ( BCI ) - 1515 Up 1
Baltic Panamax Index ( BPI ) - 514 Up 34
Baltic Supramax Index ( BSI ) - 476 Down 5

Past Bulk Shipping Rates

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Potash POT Analysis 12/17/08 - Technical Analysis

The following is technical analysis for Potash ( POT ). The chart you see is from weeks ago before Potash first closed back over the 10 day moving average causing this huge move up in share price to $80 today. I will have a new POT Chart tonight showing this analysis but due to stockcharts.com regulations, you can't take snaps during trading hours.

Potash Technical Analysis December 17, 2008

As you can see, Potash closed back over the 10 day moving average several weeks ago just like previous times and exploded to the upside. It was important not to be early because there were several times where it almost closed over the 10 day, but failed, only to take out the previous lows. The bounce off of $47.54 was a huge up volume move and buyers were chasing Pot into the close. This was the signal that some of the shorts were starting to cover. The next day, we got confirmation of a close over $57 which was the 10 day moving average. While this was a huge $10 move in two days....it was just the beginning of Pot's move which has happened two other times in the past several months.

Potash has made a major move so I would be cautious about buying above $75. Pot has closed back over the 50 day moving which is very bullish, so pullbacks to the 10 day moving average should be bought. POT has resistance from $81.54 - $85 and if these levels are cleared the next major resistance level is the Election High of $94.98. Pot has support at the $70 level where it stalled before making this last move higher as well as the 10 day moving average which is at $65.37. The 10 day moving average will be moving higher each trading session that goes by so keep that in mind. $47.54 will turn out to be a long term bottom for Potash and we all know, as evident in the past few weeks, the biggest moves come right after a stock bottoms.

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Today's Biggest Gainers - SAY DVAX 12/17/08

This morning 12/17/08, there are several hot stocks that are breaking out in pre market trading.

Today's Biggest Gainers December 17, 2008

Satyam Computer ( SAY ) - up 42% to $8.10 - This Indian company cancelled their plans to buy a few firms. Satyam, India's No. 4 software services exporter, bowed to investor outrage and cancelled the plans to buy two builders just 12 hours after the deals were announced.

Dynavax ( DVAX ) - Up 200% to .79% - GlaxoSmithKline (GSK) signed a partnership to develop treatments for immuno-inflammatory diseases with Dynavax Technologies Corp. (DVAX), which could eventually reap worth more than $800 million including all options.
Dynavax, a Berkeley, Calif., biopharmaceutical company, will get an initial payment of $10 million from the British drug maker. Dynavax will conduct research and early clinical development in up to four programs and could get total milestone payments of about $200 million per program.

http://www.blackberrystocks.com/hotstocks.html

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Dow Jones Futures 12/17/08 - Stock Market

The Dow Jones and Stock Market Futures are giving some of their gains today, 12/17/08, as futures are pointing lower in pre market trading. You are seeing profit taking across the board as well as a little nervousness about the auto bailout again as they still have not reached an agreement. As I stated in my technical analysis, we had a major breakout yesterday and I plan on buying any major pullback until the trend changes on me. The Dow Jones really needs to break out over 9000 for us to advance this move further. The Volatility Index has fallen significantly this week and that tells me people are comfortable owning stocks in the mid 8000 level. Another thing to watch today is Apple ( AAPL ). Apple came out with news last night about Mac World. They will be discontinuing this event after 2009. This announcement is creating some fear that Steve Jobs is having some health problems.

Stock Market Futures December 17, 2008

Dow Jones Futures - Down 110
Nasdaq Futures - Down 17
S&P 500 Futures - Down 12

Today's Biggest Gainers

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Dow Jones Analysis 12/17/08 - Stock Market

The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/17/08

Dow Jones Support & Resistance Levels - December 17, 2008

Resistance Levels: 9000, 9200, 9654

Support Levels: 8750, 8500

http://stockcharts.com - Chart

The Dow Jones has closed over the 50 day moving average today for the first time since September. This is very bullish and if we can hold this level for a few days I think we can test the 9000 level on a closing basis with this positive Federal Reserve News. I am now buying pullbacks to and below the 10 day moving average. If and when the Dow closes back over 9000, the next resistance target would be around 9200 and then the election high of 9654. Volume was strong this afternoon and could be a sign of things to come. More Technical Analysis - Go HERE

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