Closing Market News and Comments

March 19, 2007

The Dow closed up 115.76 at 12,226.17 and the Nasdaq closed up 21.75 at 2394.41. The Dow high was 12,234.67 and the low was 12,110.41 for a 124.26 point range.

Total volume on the NYSE was below average trading 1.43 billion shares. Up and down volume was 5.54 to 1 positive, Nasdaq up and down volume was 1.60 to 1 positive.

June E-mini S&P futures closed up 16.80 at 1415.80 and the Nasdaq 100 futures closed up 17.25 at 1781.25. June E-mini S and P total volume was average trading 1.07 million contracts. June T-Bond futures closed down 0-10 at 112-16.

May Oil futures closed up .12 at 59.70 and the April Natural Gas futures closed down .08 at 6.85.

April Gold futures closed up .40 at 654.30 and the May Silver futures closed up 0.018 at 13.233.
Grains were mixed with March Wheat down 5 ¾ cents closing at 455, May Beans were 6 cents higher closing at 759 ½, and May Corn closed down 1 ½ at 398.

April Live Cattle futures closed up .70 at 97.80 and May Feeder Cattle closed up .70 at 107.925. April Lean Hogs closed down 0.025 at 64.375.

AS I SEE IT: The market was strong in the overnight markets and our market continued to move higher on light volume. There are a lot of short-sellers in the market and we’ll have rallies that will shake some of them out, but unless we run the market up on strong volume there will be more downside to come.

The Soaring Phoenix Market Strategies follow market momentum so it makes no difference to us if the market goes up or down. These strategies just like a market that is moving.

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