Thursday, September 13, 2007

Closing Market News September 13, 2007

The Dow closed up 133.23 at 13,424.88 and the Nasdaq closed up 8.99 at 2601.06. Transports closed up 61.87 at 4799.73.

Total volume on the NYSE was below average trading 1.26 billion shares. Up/down volume was 2.63 to 1 positive, Nasdaq up/down volume was 1.26 to 1 positive.

Dec. E-mini S&P futures closed up 9.00 at 1498.50 and the Nasdaq 100 futures closed up 4.50 at 2024.50. Dec. E-mini S&P futures total volume was below average because today the Dec. contract became the spot month. Dec. 30 Yr. T-Bond futures closed down 0-21 a 112-22.

Oct. Oil futures closed down .28 at 79.81 in the overnight contract. The pit traded contract closed up .18 at 80.09. Oct. Natural Gas futures closed down .41 at 6.03.

Dec. Gold futures closed down 2.80 at 717.90 and Dec. Silver futures closed down 0.113 at 12.680.

Grains were mixed with Dec. Wheat down 15 ½ cents at 8.45, Nov. Beans closed up 2 ¾ at 9.41 ¼, and Dec. Corn closed down 9 ¾ at 3.46 ¾.

October Live Cattle futures closed down 0.050 at 94.675 and October Feeder Cattle closed down 0.175 at 116.525. October Lean Hogs closed up .20 at 65.40.

“The greatest part of our happiness depends on our dispositions, not our circumstances.”

Author: Martha Washington

AS I SEE IT: The Dow continued to trade higher for the third day in a row today. Traders are still betting the interest rate cut everyone is looking for on Tuesday will keep this trend going. I have my doubts about that, but I’ll trade with our Day Trading Strategies no matter the daily direction. Tomorrow the Retail Sales Report at 8:30ET will be important, but the Fed Announcement on Interest Rates next Tuesday will be the big market mover.

The E-mini S&P rolled over today making the Dec. contract the spot month. About half the up-move happened before the regular trading session opened. Day trading in the Dec. E-mini contract was good, but the Wheat had the best price formations for our trading strategies today. The Oil price formations were good early but not great after mid-day.


No comments: