Closing Market News August 30, 2007

The Dow closed down 50.56 at 13,238.73 and the Nasdaq closed up 2.14 at 2565.30. Transports closed down 50.28 at 4787.14.

Total volume on the NYSE was below average trading 1.27 billion shares. Up/down volume was 2.02 to 1 negative, Nasdaq up/down volume was 1.85 to 1 positive. The market gave us a mixed picture today.

Sept. E-mini S&P futures closed down 4.00 at 1461.50 and the Nasdaq 100 futures closed up 13.75 at 1974.75 Sept. E-mini S&P futures total volume was above average trading million 1.85 contracts. Sept. 30 Yr. T-Bond futures closed up 0-17 at 112-00.

Sept. Oil futures closed down .04 at 73.47and Sept. Natural Gas futures closed down .16 at 5.43.

Dec. Gold futures closed down 1.50 at 673.90 and Sept. Silver futures closed down 0.055 at 11.790.

Grains were mixed with Sept. Wheat closing up 28 cents at 7.70, Nov. Beans closed up 10 ¾ cents at 8.85, and Dec. Corn closed down ½ cent at 3.39 ¾.

October Live Cattle futures closed down .80 at 97.25 and October Feeder Cattle closed down 0.825 at 118.150. October Lean Hogs closed up .20 at 67.95.

“Patience is the companion of wisdom.”

Author: Saint Augustine

AS I SEE IT: The Dow opened down about 100 points, and during the next two hours it rallied 130 points from that low before closing down 50 points on the day. The E-mini S&P was 13 points lower at the open, but rallied 18.75 points from there in the first two hours. It then backed off 16.50 points before closing down 4 points today. The market seems to be waiting for Bernanke to talk tomorrow. I would think there will be plenty of market movement after we hear the details of his speech.

Trading was good in the E-mini S&P for the first three hours this morning. It traded sideways mid-day and then continued to be good near the close. The Oil and Bean markets both had good trading patterns today.

I HOPE YOU MADE MONEY TODAY!