Closing Market News November 14, 2007
The Dow closed down 83.16 at 13,223.93 and the Nasdaq closed down 29.33 at 2644.64. Transports closed down 34.14 at 4671.64.
Total volume on the NYSE was below average trading 1.48 billion shares. Up/down volume was 1.36 to 1 negative, Nasdaq up/down volume was 2.04 to 1 negative.
Dec. E-mini S&P Futures closed down 5.25 at 1478.00 and the Dec. Nasdaq 100 Futures closed down 9.25 at 2057.50. Dec. E-mini S&P Futures total volume was above average trading 1.88 million contracts. Dec. 20 Yr. T-Bond Futures closed up 0-02 at 114-15.
Jan. Oil Futures closed up 2.60 at 92.80 and Dec. Natural Gas Futures closed down .11 at 7.84.
Dec. Gold Futures closed up 15.50 at 814.50 and Dec. Silver Futures closed up 0.455 at 15.065.
Grains were higher with Dec. Wheat Futures closing up 4 ½ cents at 7.52 1/2, Jan Beans closed up 23 ½ cents at 10.78 ½, and Dec. Corn closed up 8 cents at 3.83.
Dec. Live Cattle Futures closed up 0.050 at 95.625 and Jan Feeder Cattle closed down 0.275 at 108.975. Dec. Lean Hogs closed at down 1.10 at 52.95.
“A man begins cutting his wisdom teeth the first time he bites off more than he can chew.”
Author: Herb
AS I SEE IT: The market opened higher after the government reports rallied the E-mini S&P in early morning trading. When the regular session bell rang the market started selling back toward the opening gap. It rallied and traded sideways until the last 30 minutes when it sold off hard closing the Dow down 83 points. The Dow traded in a 170 point range and the S&P traded in a 25 point range today.
The market internals were negative today after the huge rally yesterday. Options expire on Friday so I would expect some volatility to continue in the days to come. For me the risk is still to the downside as long as today’s high is not taken out. I really pay attention to the market movement the last hour of trading because lately that’s where the big moves of the day occur.
CHECK OUT THE SOARING
I HOPE YOU HAD A GREAT TRADING DAY TODAY!
There’s no reason you can’t have as much fun trading as I do!
Ray
P 303-796-1005
F 303-796-1023
No comments:
Post a Comment