Closing Market News April, 2007

The Dow closed up 8.94 at 12,569.13 and the Nasdaq closed down 2.16 at 2469.18. The Dow high was 12,593.60 and the low was 12,555.32 for a 38.28 point range.

Total volume was very light on the NYSE as it traded 1.25 billion shares. Up/down volume was 1.30 to 1 positive, Nasdaq up down volume was 1.10 to 1 positive.

June S&P futures closed up 1.75 points at 1454.50 and the June Nasdaq 100 futures closed down 4.25 at 1824.00. June E-mini S&P futures total volume was about half the normal daily volume trading 576,687 contracts. June 30 yr. T-Bond futures closed up 0-01 at 110-11.

May Oil futures closed much lower down 2.77 at 61.51 and the May Natural Gas futures closed down .06 at 7.55.

June Gold futures closed down 2.50 at 676.90 and the May Silver futures closed up 0.080 at 13.81.

Grains were mixed with July Wheat up 3 ½ cents at 4.62, July Beans closed down 10 ¾ at 766 ½, and July Corn closed down 1 ¾ cents at 3.76 ¼.

June Live Cattle futures closed up 0.375 at 96.700 and the May Feeder Cattle closed up .90 at 112.75. June Lean Hogs closed up 0.225 at 75.825.

“It could probably be shown by facts and figures that there is no distinctly native criminal class except Congress.”

Author: Mark Twain

AS I SEE IT: Today the market closed below the opening price after a 5 day run to the upside. Volume was light and the trading ranges were small, so we’ll know more when everyone is back to work. The Oil market sold off hard and the grains lost ground immediately after the open this morning. It felt like there just were not enough traders to create a market rhythm. The interest rates are getting higher and that might not be a good thing for this market, but we’ll know more in a couple days.

The E-mini trading ranges were small, but there was enough price movement for our strategies to work well. The big trades were in the Oil and the grain markets.