Monday, February 02, 2009

20090130 PM

Dow 8,000.86 -148.15 (1.82%). 8000 is a big round number, and several closes below that number will be widely reported and may potentially cause "average Joe" selling.
Nasdaq 1,476.42 -31.42 (2.08%)
SP500 825.88 -19.26 (2.28%). Closing below 830 is bad news.
30-yr Bond 3.6030% +.0440

Potential enormous downside in equities with limited upside potential. The volume in the first few days of next week will be important to watch. If Monday morning there is a big downside gap, then it is too late to get short.

GLD 91.31 +1.81 (2.02%). Okay to buy gold up to 1000 then re-evaluate.
UGL 34.80 +1.30 (3.88%).
SLV 12.52 +.26 (2.12%). A close at 14 and this is going back to 20.

XLF 9.24 -.26 (2.74%). Volume is picking up.
HIG 13.16 -2.24 (14.55%). Earnings February 5.
COF 15.84 -1.03 (6.11%). Last few days has been banging floor to go lower, and today made 52 week low. Testing prices from 1997.

AA 7.79 -.65 (7.70%). Average volume. 52 week low is 6.80.

MGM 8.00 -.66 (7.62%). 52 week low today.

UPS 42.49 -2.35 (5.24%). 52 week low today.
DRYS 6.63 -1.93 (22.55%).

SKF
143.26 +6.52 (4.77%).

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