Friday, April 27, 2007

Closing Market News April 26, 2007

The Dow closed up 15.61 at 13,105.50 and the Nasdaq closed up 6.57 at 2554.46. The Dow high was 13,132.80 and the low was 13,068.12 for a 64.68 point range.

Total volume on the NYSE was above average trading 1.69 billion shares. Up/down volume was 1.12 to 1 negative, Nasdaq up/down volume was 1.20 to 1 positive.

June E-mini S&P futures closed up 2.00 at 1502.75 and June Nasdaq 100 futures closed up 12.00 at 1906.00. June E-mini S&P total volume was below average trading 972.312 contracts. June 30 yr. T-Bond futures closed down 0-17 at 110-31.

June Oil futures closed down .78 at 65.06 and May Natural Gas futures closed down .18 at 7.51.

June Gold futures closed down 9.40 at 678.00 and May Silver closed down 0.440 at 13.325.

Grains were mixed with July Wheat up ½ cent closing at 5.21, July Beans closed down 2 ¾ at 7.35, and July Corn closed down 6 ½ cents at 3.75 ¼.

June Live Cattle futures closed down 0.625 at 92.700 and May Feeder Cattle closed up 0.175 at 108.150. June Lean Hogs closed down 0.975 at 75.175.

“An investment in knowledge pays the best interest.”

Author: Benjamin Franklin

AS I SEE IT: The market had a consolidation day today even though earnings continue to beat expectations. No doubt the market is overbought in the short-term, but this powerful bull market finds buyers on any little break. There will be a correction some place in here, but as long as the momentum is up I’ll be a buyer. When it turns our strategies will put me short.

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