Friday, April 27, 2007

Closing Market News April 27, 2007

The Dow closed up 15.44 at 13,120.94 and the Nasdaq 100 closed up 2.75 at 2557.21. The Dow high was 13,148.00 and the low was 13,073.40 for a 74.60 point range.

Total volume on the NYSE was below average trading 1.49 billion shares. Up/down volume was 1.67 to 1 negative, Nasdaq up/down volume was 1.32 to 1 negative.

June E-Mini S&P futures closed down .75 at 1502.00 and the Nasdaq 100 futures closed up .75 at 1906.75. June E-Mini S&P total volume was below normal trading 972.642 contracts. June 30 yr. T-Bond futures closed down 0-04 at 110-30.

June Oil futures closed up 1.40 at 66.46 and May Natural Gas futures closed down .18 at 7.51.

June Gold futures closed up 3.80 at 681.80 and May Silver futures closed up 0.075 at 13.400.

Grains were mixed with July Wheat closing down 8 ½ cents at 5.12 ½, July Beans closed up 3 ½ cents at 7.38 ½, and July Corn closed down 1 ½ cents at 3.73 ¾.

June Live Cattle futures closed up 0.575 at 93.275 and May Feeder Cattle closed up 0.400 at 108.550. June Lean Hogs closed down 0.600 at 74.575.

“Any society that would give up a little liberty to gain a little security will deserve neither and lose both.”

Author: Benjamin Franklin

AS I SEE IT: The market has had the same pattern over and over in the last couple weeks. Government reports that are negative will push the market down, but there are plenty of buyers at lower prices. It’s a powerful market when bad news is good news. Again today the internals of the market were not good, but that too has made little difference lately.

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