Closing Market News October 2, 2007

The Dow closed down 40.24 at 14,047.31 and the Nasdaq closed up 6.12 at 2747.11. Transports closed up 13.65 at 4922.85.

Total volume on the NYSE was below average trading 1.27 billion shares. Up/down volume was 1.26 to 1 positive. Nasdaq up/down volume was 1.52 to 1 positive.

Dec. E-mini S&P Futures closed down 2.00 at 1554.50 and the Dec. Nasdaq 100 Futures closed up .25 at 2135.50. Dec. E-mini S&P Futures total volume was below average trading 1.27 million contracts. Dec. 30 Yr. T-Bond Futures closed up 0-11 at 112.02.

Nov. Oil Futures closed down .19 at 80.05 and Nov. Natural Gas Futures closed up .38 at 7.43.

Dec. Gold Futures closed down 17.80 at 736.30 and Dec. Silver Futures closed down 0.405 at 13.450.

Grains were down hard with Dec. Wheat Futures limit down 30 cents at 9.22 ½, Nov. Beans closed down 47 ¾ cents at 9.43 ¾, and Dec. Corn closed limit down 20 cents at 3.48 ¾.

Dec. Live Cattle Futures closed down 0.625 at 97.975 and Nov. Feeder Cattle closed up .65 at 115.60. Dec. Lean Hogs closed down 0.175 at 59.375.

“You must do the things you think you cannot do.”

Author: Eleanor Roosevelt

AS I SEE IT: The E-mini S&P Futures were a little higher in overnight trading, but they sold off a little right after the opening bell. During our timed buy zone they rallied back to unchanged only to sell off a little on the close. Trading volume was very light on the NYSE and the S&P contracts today. After this little consolidation I want to see if the market can continue to rally on up to overhead resistance, or if it sells off more. I’ll be following our Day-Trading Strategies no matter where it goes.

The E-mini S&P Futures contract had a small trading range today, but trading was OK. I had a problem getting Grain quotes today when the contracts opened, so my charts didn’t give me trading signals until it was too late. I don’t know if you’ve ever had these problems on large-range days, but I’ve had it happen in all markets several times.

I HOPE YOU HAD A GOOD TRADING DAY!

Have as much fun trading as I do.

Ray