Thursday, March 29, 2007

Closing Market News March 29, 2007

The Dow closed up 48.39 at 12,348.75 and the Nasdaq closed up .78 at 2417.88. The Dow high was 12381.91 and the low was 12,267.59 for a 114.32 point range.

Total volume on the NYSE was average trading 1.50 billion shares. Up/down volume was 1.69 to 1 positive, Nasdaq up/down volume was 1.26 to 1 negative.

June E-mini S&P futures closed up 2.00 at 1431.50 and the Nasdaq 100 futures closed down 2.25 points at 1431.50. June E-mini S&P futures total volume was above average trading 1.31 million contracts. June 30 yr. T-Bond futures closed down 0-01 point at 111-18.

May Oil futures closed up 1.95 at 66.03 and May Natural Gas futures closed down .06 at 7.61.

April Gold futures closed down 5.30 at 661.50 and May Silver futures closed down 0.115 at 13.340.

Grains were all higher today with May Wheat up 4 ½ cents closing at 4.61, May Beans closed up 7 ½ at 7.78 ¼, and May Corn closed up 6 cents at 3.94 ½.

June Live Cattle futures closed up 0.525 at 93.95 and May Feeder Cattle closed up 0.125 at 107.300. June Lean Hogs closed up 0.175 at 74.075.

“A man who carries a cat by the tail learns something he can learn in no other way.”

Author: Mark Twain

AS I SEE IT: The Dow did rally up 81.55 points at the high today, but immediately started selling off until it was 32.77 points lower on the day. About 2 hours before the close it started to rally again closing up 48.39 points.

This morning on CNBC, Boone Pickens said that Oil could move on up to the 70.00 to 75.00 dollar level. Within a minute the Oil market started to rally, and it soared on up over 2.00 dollars to a high of 66.46 before closing at 66.03. Even with the rally in the Oil market, the Dow and the S&P closed stronger, so Window Dressing is in full swing.

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