Wednesday, October 17, 2007

Closing Market News October 17, 2007

The Dow closed down 20.40 at 13,892.54 and the Nasdaq closed up 28.76 at 2792.67. Transports closed up 46.26.

Total volume on the NYSE was below average trading 1.41 billion shares. Up/down volume was just a little positive, Nasdaq up/down volume was 2.40 to 1 positive.

Dec. E-mini S&P Futures closed 5.00 points higher at 1552.50 and the Dec. Nasdaq 100 Futures closed up 20.50 at 2196.75. Dec. E-mini S&P Futures total volume was above average trading 2.23 million contracts. Dec. 30 Yr. T-Bond Futures closed up 1-04 at 111-17.

Nov. Oil Futures closed down .21 at 87.40 and Nov. Natural Gas Futures closed up .09 at 7.46.

Dec. Gold Futures closed up .50 at 762.50 and Dec. Silver Futures closed up 0.102 at 13.760.

Grains were lower with Dec. Wheat Futures closing down 8 cents at 8.20 ¼, Nov. Beans closed down 3 ¼ at 9.74 ¼, and Dec. Corn closed down 2 ½ cents at 3.58.

Dec. Live Cattle Futures closed down 0.125 at 97.275 and Nov. Feeder Cattle closed down 0.450 at 112.075. Dec. Lean Hogs closed down 0.725 at 57.000.

“Yesterday I dared to struggle. Today I dare to win.”

Author: Bernadette Devlin

AS I SEE IT: The E-mini S&P traded up 13.75 points in overnight trading but right after the regular session opening bell it started to sell off and when the downside was over it was fallen 27.25 points to the low. Then about 2:00ET a rally started that took the E-mini up 18.50 points from the low closing 5 points higher. The Dow was 99.90 points higher on the day early in the session and then sold off 238.17 points to the low of the day before rallying back and closing down 20.40 points on the day.

Short, Intermediate, and Long-Term Strategies are all long.

The Soaring Phoenix Day-Trading Strategies worked very well in the E-mini S&P, Wheat, and the Oil contracts today. Trading is easier than usual for me because of the large range days.

Have as much fun trading as I do.


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