Thursday, October 4, 2007

Closing Market News October 4, 2007

The Dow closed up 6.26 at 13,974.31 and the Nasdaq closed up 4.14 at 2733.57. Transports closed up down 10.06 at 4838.90.

Total volume on the NYSE was below average trading 1.09 billion shares. Up/down volume was 1.50 to 1 positive, Nasdaq up/down volume was 1.08 to 1 positive.

Dec. E-mini S&P Futures closed up 1.50 at 1552.25 and the Dec. Nasdaq 100 Futures closed u 2.25 at 2123.00. Dec. E-mini S&P Futures total volume was below average trading 925,288 contracts. Dec. 30 Yr. T-Bond Futures closed up 0-08 at 112.03.

Nov. Oil Futures closed up 1.50 at 81.44 and Nov. Natural Gas Futures closed up .14 at 7.41.

Dec. Gold Futures closed up 7.80 at 743.80 and Dec. Silver Futures closed up 0.030 at 13.500.

Grains were mixed with Dec. Wheat Futures closing down 21 cents at 9.06, Nov. Beans closed up 3 ¼ cents at 9.54 ¼, and Dec. Corn closed down 2 cents at 3.42 ¼.

Dec. Live Cattle Futures closed up .45 at 97.85 and Nov. Feeder Cattle closed up .25 at 114.95. Dec. Lean Hogs closed down 0.525 at 60.075.

“Do more than is required. What is the distance between someone who achieves their goals consistently and those who spend their lives and careers merely following? The extra mile.”

Author: Gary Ryan Blair

AS I SEE IT: The market followed yesterday’s price pattern on the open. It sold off a little too near-term support, rallied back up to short-term resistance, and then traded sideways waiting for the Employment Situation Report at 8:30ET. Use your best trading skills tomorrow if you are trading the E-mini S&P Futures because this report has a chance to move the market off center in a big way.

Our Day-Trading Strategies gave me a couple small trades in the E-mini S&P Futures before they flattened out and some excellent trades in the Grains and Oil Futures contracts today. I’m really looking forward to tomorrow’s trading.


Have as much fun trading as I do!


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