Closing Market News December 18, 2007
The Dow closed up 65.27 at 13,232.47 and the Nasdaq closed up 21.57 at 2596.03. Transports closed up 19.68 at 4662.73.
Total volume on the NYSE was below average trading 1.48 billion shares. Up/down volume was 1.79 to 1 positive, Nasdaq up/down volume was 2.20 to 1 positive.
Dec. E-mini S&P Futures closed up 9.75 at 1466.50 and the Dec. Nasdaq 100 Futures closed up .75 at 2050.25. Dec. E-mini S&P Futures total volume was above average trading 2.12 million contracts. March 30 Yr. T-Bond Futures closed up 1-03 at 115-14.
Feb. Oil Futures closed down .97 at 90.08 and Jan. Natural Gas Futures closed up .11 at 7.14.
Feb. Gold Futures closed up 8.10 at 807.40 and March Silver Futures closed up 0.185 at 14.165.
Grains were lower with March Wheat Futures closing down 14 cents at 9.52, Jan Beans closed down 7 cents at 11.49 ¾, and March Corn closed down 6 ½ cents at 4.32.
Feb. Live Cattle Futures closed up 1.05 at 96.675 and Jan Feeder Cattle closed up 1.475 at 105.15. Feb. Lean Hogs closed at up 0.575 at 59.825.
“A man is not idle because he is absorbed in thought. There is a visible labor and there is an invisible labor.”
Author: Victor Hugo
AS I SEE IT: Short term the market was a little oversold and today it rallied after selling off for the first few hours. Overnight the E-mini traded higher on news that the European Central Bank injected $500 billion into the financial system as part of a global effort to ease credit. Market internals were positive but sellers haven’t thrown in the towel yet.
Day traders like volatility and I would expect more of it as quadruple witching draws near. Now I’ll be waiting for whatever news comes out in overnight trading. For now I believe rallies will be sold.
I HOPE YOUR TRADING DAY WAS GOOD!
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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