Tuesday, December 11, 2007

Closing Market News December 11, 2007

The Dow closed down 294.26 at 13,432.77 and the Nasdaq closed down 64.23 at 2652.35. Transports closed down 166.36 at 4734.75.

Total volume on the NYSE was average trading 1.54 billion shares. Up/down volume was 10.46 to 1 negative, Nasdaq up/down volume was 5.18 to 1 negative.

Dec. E-mini S&P Futures closed down 40.75 at 1478.00 and the Dec. Nasdaq 100 Futures closed down 48.50 at 2090.00. Dec. E-mini S&P Futures total volume was above average trading 2.3 million contracts. March 30 Yr. T-Bond Futures closed up 1-27 at 116-19.

Jan. Oil Futures closed up 2.16 at 90.02 and Jan. Natural Gas Futures closed up .05 at 7.09.

Feb. Gold Futures closed up 3.60 at 817.10 and March Silver Futures closed up 0.015 at 14.865.

Grains were mixed with March Wheat Futures closing down 19 cents at 9.10 1/2, Jan Beans closed up 9 ¾ cents at 11.35 ½, and March Corn closed up 6 ¼ cents at 4.24.

Feb. Live Cattle Futures closed up 0.125 at 97.250 and Jan Feeder Cattle closed down 0.150 at 105.975. Feb. Lean Hogs closed at down 0.325 at 63.025.

“Experience is one thing you can’t get for nothing.”

Author: Oscar Wilde

AS I SEE IT: The market sold off a little on the open this morning, then traded sideways for a couple hours. It rallied a little into the Fed Announcement only to be disappointed by the ¼ point interest rate cut and the ¼ point discount rate cut. Because of the belief that there would be larger cuts many traders reversed and sold the market causing this large sell-off. Tomorrow we’ll see if this sell-off is over done or if there is more selling to come. I do believe there will be more large range days before the year end.

Large range days are a day trader’s friend, so many of us enjoy the price fluctuation. There is no doubt that this market has been difficult for some long term position traders though.


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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