General Motors ( GM ) January sales were down 50.8% and Ford’s ( F ) sales were down 42.5%. Despite the horrible numbers, these two trendy boutique s barely moved. The Dow Jones Industrial Average closed at 8200 on 1/14/09, as the stock market fell yet again today, this time on horrible retail sales figures ( down 2.7% ). There are also more fears about Timothy Geithner becoming Obama’s Treasury Secretary. The Dow Jones Industrial Average closed at 8376 on 1/28/09, as the stock market broke out technically and ripped higher due to a possible buying spree of toxic bank assets by our government. The stock market typically turns upward six months before the economy starts to show improvement and Visa will be the first to turn with the market. In trade for facilitating or executing a exchange, brokers will charge you a fee. Archive for later use – Once you have reviewed the trade start to finish and gone through the motions of a proper recap, save your trading journal and move the trade to a folder on your computer. After the stock market opened, it began to trade lower. The weak dollar was also good for the oil market as oil broke out of a tight range and went through $41 in afternoon trading.
January 27, 2009, their are several stock gainers that are breaking out in pre market trading. The Dow Jones Industrial Average closed at 8123 on 1/22/09, as the stock market was very volatile but down all day due to Microsoft ( MSFT ) releasing their horrible earnings about 7 hours early. The Dow Jones Industrial Average closed at 8228 on 1/21/09, as the stock market was up this morning due to IBM’s earnings and a bounce in the Banking stocks like Bank of America ( BAC ) and Citigroup ( C ) after Citi finally slashed their dividend to a penny per share. You may pay a worth for that stock supported the market. If the company goes bankrupt, then you could potentially lose all the money you invested in the stock. Today, January 23, 2009, CNBC’s Fast Money Guy Adami and Jeff Mackie gave their insight on General Electric ( GE ). Jeff Mackie also made a bullish case of some of the Banking stocks. Later in the day, CNBC’s Charlie Gasparino reported that the Government’s bad bank plan might have hit a roadblock and they are unclear on how to act on the plan. This news is actually better then expected and you might see stocks rally today.
Allied Irish Banks ( AIB ) – $2.80 Up 35% – AIB is going up with the above Barclays news. The good news? The panic selling seems to have gone away, we weren’t seeing the type of volatility as we saw in the September and October months of 2008. The VIX volatility indicator only spiked 5% to 47 today. “It is that September – traditionally but not always – can be tough month for stocks. The Banking stocks took off even further as did the overall stock market. The Dow Jones Industrial Average closed at 8078 on 2/3/09, as the stock market went up today due to a weak dollar, a Tom Daschle resignation, Timothy Geithner comments, and the fact that technically, we were oversold. RC Ventures, a limited liability company controlled by Cohen, paid $37 million from Dec. 15 through Dec. 18 for 2.5 million more GameStop shares, at a per share average price of $14.80. The USO, a stock that I own, is getting ready to close over the 10 day moving average at $31.10.