Closing Market News October 5, 2007

The Dow closed up 91.70 at 14,066.01 and the Nasdaq closed up 46.75 at 2780.32. Transports closed up 158.27 at 4997.17.

Total volume on the NYSE was below average trading 1.25 billion shares. Up/down volume was 5.73 to 1 positive, Nasdaq up/down volume was 4.61 to 1 positive.

Dec. E-mini S&P Futures closed up 18.50 at 1570.75 and the Dec. Nasdaq 100 Futures closed up 47.75 at 2170.75. Dec. E-mini S&P Futures total volume was average trading 1.69 million contracts. Dec. 30 Yr. T-Bond Futures closed down 1-10 at 110-25.

Nov. Oil Futures closed down .22 at 81.22 and Nov. Natural Gas Futures closedown .34 at 7.07.

Dec. Gold Futures closed up 3.40 at 747.20 and Dec. Silver Futures closed down 0.010 at 13.490.

Grains were mixed with Dec. Wheat Futures closing down 16 cents at 8.90, Nov. Beans closed down 13 ¾ at 9.40 ½, and Dec. Corn closed unchanged at 3.42 ¼.

Dec. Live Cattle Futures closed down 1.725 at 96.125 and Nov. Feeder Cattle closed down 1.550 at 113.500. Dec. Lean Hogs closed up 0.225 at 60.300.

“These numbers are as reliable as a five martini promise.”

Author: Art Cashin

AS I SEE IT: As expected we got our bang for the buck in the markets today. The Jobs Report kept the ball rolling to the upside with all the revisions added. Look at my quote of the day and you’ll see what Art Cashin had to say about the numbers. Because our trading strategies are all technical we don’t pay any attention to numbers from the government. Our strategies go with the money flow. That’s what works for us.

In the very short-term the market might be getting a little ahead of itself, but weekend news and overseas trading on Sunday night should set the early market movement on Monday.

I HOPE YOU HAD A GREAT TRADING DAY TODAY!