Friday, November 16, 2007

Closing Market News November 16, 2007

The Dow closed up 66.74 points at 13,176.79 and the Nasdaq closed up 18.73 points at 2637.24. Transports closed down 74.85 at 4563.84.

Total volume on the NYSE was above average trading 1.75 billion shares. Up/down volume was 1.12 to 1 positive, Nasdaq up/down volume was 1.50 to 1 positive.

Dec. E-mini S&P Futures closed up 2.25 at 1460.25 and the Dec. Nasdaq 100 Futures closed up 21.75 points at 2055.25. Dec. E-mini S&P Futures total volume was above average trading 2.13 million contracts. Dec. 30 Yr. T-Bond Futures closed up 0-05 at 115-18.

Jan. Oil Futures closed up 1.77 at 93.84 and Dec. Natural Gas Futures closed down up .30 at 8.00.

Dec. Gold Futures closed down .30 at 787.00 and Dec. Silver Futures closed up 0.028 at 14.510.

Grains were mixed with Dec. Wheat Futures closing down 16 cents at 7.49 ½, Jan Beans closed down 1 cent at 10.77 ¾, and Dec. Corn closed up 4 3/4 cents at 3.79 ½.

Dec. Live Cattle Futures closed down 0.025 at 95.300 and Jan Feeder Cattle closed down 0.200 at 109.125. Dec. Lean Hogs closed at down 0.275 at 52.525.

“If you take responsibility for yourself you will develop a hunger to accomplish your dreams.”

Author: Les Brown

AS I SEE IT: The Dow traded in a 161 point range closing up 66.74 points and the S&P traded in a 19 point range trading up 2.25 points on the close. For the week the Dow traded in a 392 point range closing up 137 points. The E-mini S&P had a 59.50 point range closing up 6.50 points for the week.

Even though we have a holiday week coming up there should be plenty of volatility in the markets. Our Short and Intermediate Term Trading Strategies are short, but the Long Term is still long. Because our trading strategies are mostly mechanical I just enjoy good market movement. This was a good week for us here at Soaring Phoenix LLC.



There’s no reason you can’t have as much fun trading as I do!


P 303-796-1005

F 303-796-1023

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