Friday, December 21, 2007

Closing Market News December 21, 2007

The Dow closed up 205.01 at 13,450.65 and the Nasdaq closed up 23.25 at 1498.00. Transports closed up 60.19 at 4644.05.

Total volume on the NYSE was above average trading 2.23 billion shares. Up/down volume was 5.66 to 1 positive, Nasdaq up/down volume was 3.79 to 1 positive.

Dec. E-mini S&P Futures closed up 23.25 at 1498.00 and the Dec. Nasdaq 100 Futures closed up 38.75 at 2137.25. Dec. E-mini S&P Futures total volume was below average trading 1.19 million contracts. March 30 Yr. T-Bond Futures closed down 1-22 at 114-28.

Feb. Oil Futures closed up 2.25 at 93.51 and Jan. Natural Gas Futures closed up .05 at 7.19.

Feb. Gold Futures closed up 12.20 at 815.40 and March Silver Futures closed up 0.148 at 14.488.

Grains were higher with March Wheat Futures closing down 5 cents at 9.49, Jan Beans closed up 16 ¾, and March Corn closed up 6 cents at 4.43 ½.

Feb. Live Cattle Futures closed down 0.175 at 95.525 and Jan Feeder Cattle closed down 0.125 at 103.825. Feb. Lean Hogs closed down 0.175 at 59.725.

“Shallow men believe in luck. Strong men believe in cause and effect.”

Author: Ralph Waldo Emerson

AS I SEE IT: Quadruple witching did move the market up 205 points in the Dow and 23.25 points in the S&P, but much of the move took place in the overnight markets. The market broke out of its four day sideways price pattern and now is near resistance. Volume will be light next week but there are times when the market has very nice moves during the last few days of the year.

This has been a good day trading month and I would think there will be many more good ones to come.



There’s no reason you can’t have as much fun trading as I do!


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