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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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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Dow Jones Open 12/17/08 - Stock Market

This more, the Dow Jones and Stock Market's are opening lower. Technology is getting hit because of Apple ( AAPL ) withdrawing from Macworld starting in 2010. This has investors fearing the health of Steve Jobs once again. Steve Jobs will not be giving the keynote address at this years Macworld. Apple has shown strong support around the $89 level in the past month so I am starting a small position Apple has 25 billion of cash sitting in the bank and while growth is slowing, they have one of the best businesses in the world. Not much downside from here. Apple also has some nice support at $85.

First Solar ( FSLR ) is a stock breaking out with nice volume this morning...keep an eye on ENER as well.

Stock Market Opening Prices December 17, 2008

Dow Jones Open - Down 105
Nasdaq Open - Down 22
S&P 500 Open - Down 13

Today's Biggest Gainers 12/17/08

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1 and 3 Month Libor Rates - 12/17/08 - Today's Libor Rates

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 12/17/08, are: 1 Month Libor Rate - .581% & 3 Month Libor Rate - 1.578%. The overnight Libor rate is .133%. As you can see, Libor Rates have changed today, December 17, 2008. Both 30 and 90 day Libor ticked down as well as the overnight Libor.
Here are Previous Libor rates. You can also compare Libor Rates to how the Dow Jones traded.

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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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