Closing Market News December 12, 2007
The Dow closed up 41.13 at 13,473.90 and the Nasdaq closed up 18.82 at 2671.14. Transports closed up 3.40 at 4738.15.
Total volume on the NYSE was above average trading 1.72 billion shares. Up/down volume was 1.42 to 1 positive, Nasdaq up/down volume was 1.67 to 1 positive.
Dec. E-mini S&P Futures closed up 12.25 at 1490.25 and the Dec. Nasdaq 100 Futures closed up 17.75 at 2107.75. Dec. E-mini S&P Futures total volume was above average trading 3.0 million contracts. March 30 Yr. T-Bond Futures closed down 1-03 at 115-12
Jan. Oil Futures closed up 4.58 at 94.50 and Jan. Natural Gas Futures closed up .32 at 7.41.
Feb. Gold Futures closed up 1.70 at 818.80 and March Silver Futures closed down 0.025 at 14.840.
Grains were higher with March Wheat Futures closing LIMIT UP at 9.40 1/2, Jan Beans closed up 16 cents at 11.51 ½, and March Corn closed up 9 cents at 4.33.
Feb. Live Cattle Futures closed down .45 at 96.80 and Jan Feeder Cattle closed down 0.875 at 105.100. Feb. Lean Hogs closed at down 1.375 at 61.650.
“The young man knows the rules, but the old man knows the exceptions.”
Author: Oliver Wendell Holmes
AS I SEE IT: If you enjoy extreme volatility today fit your bill. The S&P opened up 34 points on the regular session, and the Dow was up 271.75 at the high before selling off 381.82 points. The Dow rallied 151.20 points from the low to close up 41.13 points.
Yesterday the Fed disappointed the market and today they announced that they are going to make money more available to large banks spurring a strong rally right before the open. Day traders make money in these wild swinging markets, but they can be challenging for long term traders. I’ve expected volatility this month and there should be more to come.
I HOPE YOU MADE MONEY TODAY!
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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