Closing Market News December 20, 2007
The Dow closed up 38.37 at 13,245.64 and the Nasdaq closed up 39.85 at 2640.86. Transports closed down .24 at 4583.86.
Total volume on the NYSE was below average trading 1.35 billion shares. Up/down volume was 1.26 to 1 positive, Nasdaq up/down volume was 3.25 to 1 positive.
Dec. E-mini S&P Futures closed up 9.75 at 1474.75 and the Dec. Nasdaq 100 Futures closed up 41.25 at 2098.50. Dec. E-mini S&P Futures total volume was average trading 1.60 million contracts. March 30 Yr. T-Bond Futures closed up 0-15 at 116-12.
Feb. Oil Futures closed down .18 at 91.06 and Jan. Natural Gas Futures closed down .04 at 7.14.
Feb. Gold Futures closed down 2.20 at 803.20 and March Silver Futures closed up 0.118 at 14.340.
Grains were mixed with March Wheat Futures closing down 19 ½ cents at 9.54, Jan Beans closed up 1 ¾ cents at 11.60 ¾, and March Corn closed up 2 ¾ cents at 4.37 ½.
Feb. Live Cattle Futures closed down .50 at 95.775 and Jan Feeder Cattle closed down .25 at 103.950. Feb. Lean Hogs closed at down .20 at 59.90.
“Luck is not something you can mention in the presence of self-made men.”
Author: E.B. White
AS I SEE IT: The market traded higher overnight, but when the regular session opened it sold off just like it has for the last four days. Mid-day it caught a bid near support and began a rally that lasted into the close. The Nasdaq was the stronger of the two today and it dragged the Dow up with it. The Transports were still a little lower on the day.
This was the best market close of the week so I’ll be paying attention to the market momentum from here. This evening support in the E-mini Futures is in the 1464.00 area for me.
Tomorrow is quadruple witching so market volatility should continue. It looks to me like volatility will continue to be a trader’s friend for a long time because of current prices in a number of markets.
TRADING STRATEGIES HAVE NEVER BEEN MORE IMPORTANT!
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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