Closing Market News July 9, 2007

The Dow closed up 38.29 points at 13,649.97 and the Nasdaq closed up 3.20 at 2670.02. Transports closed up 48.03 at 5279.32.

Total volume on the NYSE was below average trading 1.33 billion shares. Up/down volume was 104 to 1 positive, Nasdaq up/down volume was 1.19 to 1 negative.

Sept. E-mini S&P futures closed unchanged at 1542.50 and the Nasdaq 100 futures closed down .50 at 2008.50. Sept. E-mini S&P futures total volume was below average trading 797.179 contracts. Sept. 30 Yr. T-Bond futures closed up 0-16 at 106-19.

August Oil futures closed down .62 at 72.19 and August Natural Gas futures closed down .03 at 6.41.

August Gold futures closed up 7.70 at 662.50 and Sept. Silver futures closed up 0.063 at 12.820.

Grains were mixed with Sept. Wheat closing down 10 ½ cents at 6.62 1/2, Nov. Beans were 6 cents higher closing at 9.02, and Dec. Corn closed down 1 ¾ cents at 3.50 ¼.

August Live Cattle futures closed up 0.025 at 92.525 and August Feeder Cattle closed down 0.225 at 114.475. August Lean Hogs closed down 0.250 at 69.850.

“The only source of knowledge is experience.”

Author: Albert Einstein

AS I SEE IT: It seemed like the market was waiting for Mr. Bernanke to talk about the inflation rate tomorrow. The small trading range and light volume in the S&P didn’t give day-traders a very good chance to make money today if they didn’t trade the opening gap. I had a nice day trading the E-mini S&P, Soybeans, and the Oil contract.

First support in the Sept. S&P will be in the 1537.00 area tomorrow. The second support is in the 1529.00 area for me. Buying the dips has worked very well lately in the S&P and Nasdaq contracts, so traders continue to take advantage of any market weakness.

Have as much fun trading as I do.

Ray