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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