Thursday, September 20, 2007

Closing Market News September 20, 2007

The Dow closed down 48.86 at 13,766 and the Nasdaq closed down 12.19 at 2654.29. Transports closed down 91.17 at 4814.39.

Total volume on the NYSE was below average trading 1.27 billion shares. Up/down volume was 2.38 to 1 negative, Nasdaq up/down volume was 1.69 to 1 negative.

Dec. E-mini S&P futures closed down 9.75 at 1531.75 and the Dec. Nasdaq 100 futures closed down 6.25 at 2057.75. Dec. E-mini S&P futures total volume was above average trading 2.20 million contracts. Dec. 30 Yr. T-Bond futures closed down 1-23 at 110-01.

Nov. Oil futures closed up .93 at 81.78 and Nov. Natural Gas futures closed up .07 at 6.98.

Dec. Gold futures closed up 10.40 at 739.90 and Dec. Silver futures closed up 0.365 at 13.47.

Grains were higher with Dec. Wheat closing up 5 cents at 8.50, Nov. Beans closed up 17 ½ cents at 9.88 ½, and Dec. Corn closed up 11 cents at 3.69 ¼.

Dec. Live Cattle futures closed down .45 at 64.75 and Nov. Feeder Cattle closed down 1.00 at 115.50. Dec. Lean Hogs closed down .45 at 64.75.

“Without leaps of imagination, or dreaming, we lose the excitement of possibilities. Dreaming, after all, is a form of planning.”

Author: Gloria Steinem

AS I SEE IT: The E-mini S&P traded lower in overnight trading. It filled the regular trading session gap on the open this morning, traded sideway for a couple hours and then traded lower in a channel the rest of the day. Short-term the market was overbought and this relieved some of that strength.

Gold continued to rally with the Dec. contract closing up 10.40 at 739.90, and the Oct. Oil contract that goes off the board tomorrow traded as high as 83.87 before closing at 83.32. The Dollar was lower again today.

Using our Day-trading strategies I had a good day trading the S&P E-mini, Grains and the Oil contract. The timed trades using our day-trading strategies worked very well. If you have questions about these strategies send me an email for further information.


Have as much fun trading as I do.


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