Thursday, November 29, 2007

Closing Market News November 29, 2007

The Dow closed up 22.28 points at 13,311.73 and the Nasdaq closed up 4.45 at 2668.13. Transports closed down 52.10 at 4573.33.

Total volume on the NYSE was below average trading 1.33 billion shares. Up/down volume was 1.09 to 1 negative, Nasdaq up/down volume was 1.03 to 1 positive.

Dec. E-mini S&P Futures closed up 1.00 at 1471.50 and the Dec. Nasdaq 100 Futures closed up 5.00 at 2100.50. Dec. E-mini S&P Futures total volume was above average trading 1.7 million contracts. Dec. 30 Yr. T-Bond Futures closed up 0-28 at 117-26.

Jan. Oil Futures closed up .39 cents at 91.01 and Jan. Natural Gas Futures closed up .05 at 7.54.

Dec. Gold Futures closed down .30 at 800.00 and Dec. Silver Futures closed down 0.035 at 14.300.

Grains were mixed with March Wheat Futures closing up 7 ½ cents at 8.87 ¾, Jan Beans closed up ½ cent at 10.97 ¼, and March Corn closed down 3 ¾ cents at 4.00 ¾.

Feb. Live Cattle Futures closed down .35 at 96.70 and Jan Feeder Cattle closed down 0.500 at 109.075. Feb. Lean Hogs closed at down 0.125 at 62.700.

“Always do right—this will gratify some and astonish the rest.”

Author: Mark Twain

AS I SEE IT: The market traded a little lower overnight, but when the regular market session opened it rallied back and filled the trading gap. The rest of the day it traded sideways to a little higher consolidating the gains of the last two days. Mr. Bernanke speaks tonight and the market will probably react to his speech in the morning.

Day trading was good again today in the E-mini S&P, Grains, and the Oil contracts. The S&P had a 16 point range in the regular market session. The Wheat had a 32 cent range, and the Oil had a 2.05 dollar range in the regular market session.


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


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