Tuesday, September 25, 2007

Closing Market News September 25, 2007

The Dow closed up 19.59 at 13,778.65 and the Nasdaq closed up 15.50 at 2683.45. Transports closed up 38.97 at 4806.72.

Total volume on the NYSE was below average trading 1.32 billion shares. Up/down volume was 1.41 to 1 negative, Nasdaq up/down volume was 1.85 to 1 positive.

Dec. E-mini S&P futures closed down 2.75 at 1529.00 and the Dec. Nasdaq 100 futures closed up 17.75 at 2097.50. Dec. E-mini S&P futures total volume was average trading 1.58 million contracts. Dec. 30 Yr. T-Bond futures closed down 0-05 at 110-23.

Nov. Oil futures closed down 1.42 at 79.53 and Nov. Natural Gas futures closed down .08 at 7.09.

Dec. Gold futures closed down .50 at 7.38.90 and Dec. Silver futures closed down 0.055 at 13.620.

Grains were mixed with Dec. Wheat closing up 9 ½ cents at 8.87 ¼, Nov. Beans closed down 5 ¾ at 9.73, and Dec. Corn closed down 1 ¾ cents at 3.71 ¾.

Dec. Live Cattle futures closed down 0.275 at 100.500 and Nov. Feeder Cattle closed down 0.225 at 116.375. Dec. Lean Hogs closed down 1.025 at 62.300.

“Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.”

Author: Franklin D. Roosevelt

AS I SEE IT: Overnight the S&P fell on retail earnings, but after the regular trading session opened it caught a bid and rallied up with the Nasdaq leading the way. The rest of the day there was a push-pull tug-of-war between the E-mini S&P and the Nasdaq 100. The E-mini traded basically in a three point range after the first two hours of trading.

The E-mini S&P is trading in a down channel, but our short, intermediate, and long-term trading strategies are still up. Only the Day-Trading Strategies have been trading lower.

Day-trading in the E-mini S&P was just OK for me today. Grains topped the list with Oil coming in second.

Have as much fun trading as I do.


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