Closing Market News October 15, 2007
The Dow closed down 108.28 and the Nasdaq closed down 25.63 at 2780.05. Transports closed down 51.77 at 4888.99.
Total volume on the NYSE was below average trading 1.28 billion shares. Up/down volume was 3.27 to 1 negative, Nasdaq up/down volume was 2.54 to 1 negative.
Dec. E-mini S&P Futures closed down 14.25 at 1560.25 and the Dec. Nasdaq 100 Futures closed down 18.50 at 2180.75. Dec. E-mini S&P Futures total volume was above average trading 1.95 million contracts. Dec. 30 Yr. T-Bond Futures closed up 0-01 at 110-13.
Nov. Oil Futures closed up 2.44 at 86.13 and Nov. Natural Gas Futures closed up .47 at 7.45.
Dec. Gold Futures closed up 8.40 at 762.20 and Dec. Silver Futures closed down 0.048 at 13.855.
Grains were mixed with Dec. Wheat Futures closing down 22 ¾ cents at 8.34, Nov. Beans closed up 10 ¼ at 9.87, and Dec. Corn closed up 11 cents at 3.62.
Dec. Live Cattle Futures closed up 0.750 at 97.975 and Nov. Feeder Cattle closed down 0.250 at 113.225. Dec. Lean Hogs closed up 0.050 at 58.325.
“Happiness is nothing more than good health and a bad memory.”
Author: Albert Schweitzer
AS I SEE IT: The Dow reversed course on City Bank Earnings this morning and the higher Oil market. Earnings will continue to come out hot and heavy this week so market ranges should be good. The Dow was 188.76 points lower before it rallied back into the close, and the E-mini S&P Futures were down 24.50 before rallying back up 10.75 points in the last 45 minutes of trading. The E-mini S&P traded below the up-channel but closed in it at the close. I’ll be paying attention to the overseas markets early in the morning and trading with the price momentum no matter where this market goes.
Our Short, Intermediate, and Long-Term Trading Strategies are all long.
The Soaring
I HOPE YOU HAD A GOOD DAY TODAY TOO!
Have as much fun trading as I do.
Ray
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