Closing Market News November 26, 2007
The Dow closed down 239.96 at 12,740.92 and the Nasdaq closed down 55.75 at 2540.99. Transports closed down 66.95 at 4384.12.
Total volume on the NYSE was below average trading 1.42 billion shares. Up/down volume was 6.63 to 1 negative, Nasdaq up/down volume was 4.55 to 1 negative.
Dec. E-mini S&P Futures closed down 32.75 at 1409.25 and the Dec. Nasdaq 100 Futures closed down 33.25 at 1999.25. Dec. E-mini S&P Futures total volume was above average trading 2.21 million contracts. Dec. 30 Yr. T-Bond Futures closed up 1-24 at 118-24.
Jan. Oil Futures closed down .28 at 98.10 and Dec. Natural Gas Futures closed unchanged at 7.70.
Dec. Gold Futures closed up 1.70 at 826.40 and Dec. Silver Futures closed up 0.095 at 14.830.
Grains were mixed with March. Wheat Futures closing down 11 ¼ cents at 8.33 3/4, Jan Beans closed up 2 ¾ cents at 11.03, and March Corn closed down 2 ½ cents at 4.03 ¼.
Feb. Live Cattle Futures closed down 0.175 at 98.525 and Jan Feeder Cattle closed up .25 at 110.95. Feb. Lean Hogs closed at down 0.250 at 62.575.
“There is more to life than increasing its speed.”
Author: Mohandas Gandhi
AS I SEE IT: The market continued Friday’s rally in overnight trading and after the opening bell, but it failed at resistance and started a sell-off that lasted all day. The Dow and S&P were down hard again today. Trading ranges are great for day-traders but this market has been tough for some position stock traders.
Short-term the market is a little oversold, but overnight news and government reports will give us direction at the start of the trading day. Trading reversals can be fast so I am always aware that they can be right around the corner.
I HOPE YOU HAD A GOOD TRADING DAY TODAY TOO!
There’s no reason you can’t have as much fun trading as I do!
Ray
P 303-796-1005
F 303-796-1023
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