Closing Market News July 10, 2007
The Dow closed down 148.27 at 13,501.70 and the Nasdaq closed down 30.86 at 2639.16. Transports closed down 81.17 at 5198.15.
Total volume on the NYSE was average trading 1.63 billion shares. Up/down volume was 6 to 1 negative, Nasdaq up/down volume was 2.92 to 1 negative.
Sept. E-mini S&P futures closed down 22.50 at 1520.00 and the Nasdaq 100 futures closed down 16.50 at 1992.00. Sept. E-mini S&P futures total volume was above average trading 1.73 million contracts. Sept. 30 Yr. T-Bond futures closed up 1-11 at 107-26.
August Oil futures closed up .62 at 72.81and August Natural Gas futures closed up .29 at 6.70.
August Gold futures closed up 1.90 at 664.30 and Sept. Silver futures closed up 0.155 at 12.975.
Grains were all higher with Sept. Wheat closing up 2 ¼ cents at 6.01 ¾, Nov. Beans were 18 ½ cents higher closing at 9.20 ½, and Dec. Corn closed up 6 ¾ at 3.57.
August Live Cattle futures closed down 0.550 at 91.975 and August Feeder Cattle closed down 0.450 at 114.025. August Lean Hogs closed up .95 at 70.80.
“Opinion is ultimately determined by the feelings, and not by the intellect.”
Author: Herbert Spencer
AS I SEE IT: The market rolled over and came down hard today because of poor retail earnings, sub-prime worries, home builders selling off, and the financial stocks getting hit. The tape started getting heavy after the overseas markets opened.
The Soaring
I day-trade the E-mini S&P, Oil, and the Soybean contracts everyday. All three of them had great price formations and trading ranges today.
Have as much fun trading as I do.
Ray
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