Friday, November 30, 2007

Closing Market News November 30, 2007

The Dow closed up 61.45 at 13,371.72 and the Nasdaq closed down 8.73 at 2660.96. Transports closed up 88.06 at 4661.29.

Total volume on the NYSE was above average trading 1.85 billion shares. Up/down volume was 2.93 to 1 positive, Nasdaq up/down volume was 1.59 to 1 negative.

Dec. E-mini S&P Futures closed up 12.25 at 1483.75 and the Dec. Nasdaq 100 Futures closed down 6.00 at 2094.50. Dec. E-mini S&P Futures total volume was above average trading 2.01 million contracts. Dec. 30 Yr. T-Bond Futures closed down 0-12 at 117-13.

Jan. Oil Futures closed down 2.29 at 88.72 and Dec. Natural Gas Futures closed down .10 at 7.30.

Dec. Gold Futures closed down 12.70 at 782.60 and Dec. Silver Futures closed down 0.057 at 14.180.

Grains were mixed with March Wheat Futures closing down 2 ¾ cents at 8.85 1/2, Jan Beans closed down 16 ½ cents at 10.81 ½, and March Corn closed up 2 ¼ cents at 4.02 ½.

Feb. Live Cattle Futures closed down .85 at 95.80 and Jan Feeder Cattle closed down 1.275 at 107.800. Feb. Lean Hogs closed at down .55 at 62.30.

“Do-so” is more important than “say-so.”

Author: Pete Seeger

AS I SEE IT: The market rallied in overnight trading after listening to the Bernanke speech. It sounds like the Fed is going to lower the Fed Funds Rate and the Interest Rates on Dec. 11. The market has it priced in so I don’t see that they have any other choice.

Today the market opened higher in the regular trading session but sold off during the first two hours. Then it traded sideways to lower until the last hour when it rallied back to the mid-range of the day. This is the fourth day of the rally from the low, so if the market opens higher on Monday there could be some backing and filling.

This has been a very good trading week for Soaring Phoenix because of the momentum and large range days in the contracts we trade.


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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