Closing Market News May 30, 2007

The Dow closed up 111.74 at 13,633.08 and the Nasdaq closed up 20.53 at 2592.59. The Dow high was 13,636.09 and the low was 13,456.73 for a 179.36 point range.

Total volume on the NYSE was average trading 1.55 billion shares. Up/down volume was 3.77 to 1 positive, Nasdaq up/down volume was 2.23 to 1 positive.

June E-mini S&P futures closed up 11.50 at 1534.00 and the Nasdaq 100 closed up 16.00 at 1922.50. June E-mini S&P total volume was above average trading 1.56 million contracts. June 30 Yr. T-Bond futures closed up 0-05 at 109-08.

July Oil futures closed up .34 at 63.49 and July Natural Gas futures closed up .21 at 7.94.

June Gold futures closed down 4.10 at 653.10 and July Silver futures closed down 0.013 at 13.210.

Grains were all higher with July Wheat up 19 ¾, July Beans were 10 ¾ cents higher closing at 808 ¼, and July Corn was 17 ½ cents higher closing at 3.82 ¼.

June Live Cattle futures closed down .30 at 90.70 and August Feeder Cattle were 1.20 lower closing at 110.35. June Lean Hogs closed up 0.350 at 75.275.

“Our problems are man-made; therefore they may be solved by man. And man can be as big as he wants. No problem of human destiny is beyond human beings.

Author: John F. Kennedy

AS I SEE IT: The Chinese market fell 6% in overnight trading when they raised taxes on stock transactions, and the S&P was 7 points lower early this morning. When the opening bell rang on the NYSE the S&P started to rally, and except for a pull back mid-day it didn’t look back. Both the Dow and the S&P closed at new all time highs. This market is still on fire and I believe it will continue to move higher until there is a global event that brings it down. If the S&P rallies in overnight trading I will sell it back to today’s close.