Closing Market News November 1, 2007

The Dow closed down 362.14 at 13,567.87 and the Nasdaq closed down 64.29 at 2794.83. Transports closed down 133.27 at 4774.69.

Total volume on the NYSE was above average trading 1.73 billion shares. Up/down volume was 12.06 to 1 negative, Nasdaq up/down volume was 5.06 to 1 negative.

Dec. E-mini S&P Futures closed down 39.25 at 1515.75 and the Dec. Nasdaq 100 Futures closed down 37.00 at 2215.50. Dec. E-mini S&P Futures total volume was above average trading 2.50 million contracts. Dec. 30 Yr. T-Bond Futures closed up 1-12 at 113-31.

Dec. Oil Futures closed down 1.04 at 93.49 and Dec. Natural Gas Futures closed up .31 at 8.64.

Dec. Gold Futures closed down 1.60 at 793.70 and Dec. Silver Futures closed down 0.113 at 14.325.

Grains were lower with Dec. Wheat Futures down 29 ¾ at 778 ¼, Nov. Beans closed down 19 ¼ at 990 ¾, and Dec. Corn closed down 6 ½ cents at 3.68 ¾.

Dec. Live Cattle Futures closed down 0.825 at 94.100 and Nov. Feeder Cattle closed up 0.175 at 108.625. Dec. Lean Hogs closed down 1.625 at 52.250.

“Don’t be afraid to go out on a limb. That’s where the fruit is.”

Author: H. Jackson Browne

AS I SEE IT: Yesterday’s gains started slipping away in overnight trading and continued to tank today on earnings from Citigroup and Exxon Mobile. Now we’ll have to see what the Jobs Report does to the market tomorrow. Lately the market has healed itself quickly after these large down drafts, but traders need to pay attention here and profit from these huge price ranges.

Day trading is always good when there are large range days, so these markets are giving us excellent trades all day.

I HOPE YOU HAD A BIG PROFITABLE DAY TODAY!

Have as much fun trading as I do.

Ray