Closing Market News August 13, 2007

The Dow closed down 3.01 at 13,236.53 and the Nasdaq closed down 2.65 at 2542.24. Transports closed up 49.76 at 5011.49.

Total volume on the NYSE was above average trading 1.71 billion shares. Up/down volume was 1.07 to 1 positive, Nasdaq up/down volume was 1.03 to 1 positive.

Sept. E-mini S&P futures closed up 4.00 at 1455.00 and the Nasdaq 100 futures closed up 13.50 at 1942.50. Sept. E-mini S&P futures total volume was above average trading 1.79 million contracts. Sept. 30 Yr. T-Bond futures closed up 0-06 at 109-16.

Sept. Oil futures closed up .15 at 71.62 and Sept. Natural Gas futures closed down .03 at 6.79.

Dec. Gold futures closed down .80 at 680.80 and Sept. Silver futures closed down .02 at 12.85.

Grains were mixed with Sept. Wheat closing down ½ cent at 6.66 ½, Nov. Beans closed up 10 cents at 8.81 ¾, and Dec. Corn closed down 1 ½ cents at 3.49.

October Live Cattle futures closed up .50 at 95.05 and October Feeder Cattle closed up 0.575 at 115.875. October Lean Hogs closed up .60 at 71.40.

“It is a terrible thing to see and have no vision.”

Author: Helen Keller

AS I SEE IT: The S&P rallied up erasing the drop during the last 15 minutes of trading on Friday in overnight trading and kept going up until mid-day. Overseas markets were higher today giving our markets a boost early, but the Dow lost the 100 point gain it had at the high by the time the trading session was over. Goldman Sachs put 3 billion dollars into their hedge fund to shore it up, but by the end of the day that stock was lower too. Volume was much lighter today than the last few days last week, so the market calmed a little. I still believe the market has much further to drop, but there will be rallies along the way.

Day-trading the E-mini S&P was very good for me early in the session and near the close, but mid-day traders just picked each other’s pockets. The Oil contract had some very good trading patterns most of the day.