Closing Market News December 5, 2007
The Dow closed up 196.23 at 13,444.96 and the Nasdaq closed up 46.53 at 2666.36. Transports closed up 65.31 at 4684.37.
Total volume on the NYSE was below average trading 1.42 billion shares. Up/down volume was 4.00 to 1 positive, Nasdaq up/down volume was 2.29 to 1 positive.
Dec. E-mini S&P Futures closed up 23.75 at 1487.00 and the Dec. Nasdaq 100 Futures closed up 39.00 at 2101.25. Dec. E-mini S&P Futures total volume was above average trading 1.73 million contracts. March 30 Yr. T-Bond Futures closed down 0-25 at 117-09.
Jan. Oil Futures closed down .83 at 87.49 and Jan. Natural Gas Futures closed up .03 at 7.18.
Feb. Gold Futures closed down 3.90 at 803.70 and March Silver Futures closed down 0.0050 at 14.460.
Grains were mixed with March Wheat Futures closing down 9 cents at 8.85, Jan Beans closed up 8 cents at 10.99 ½, and March Corn closed unchanged at 411 ¼.
Feb. Live Cattle Futures closed down .35 at 95.95 and Jan Feeder Cattle closed down .75 at 106.25. Feb. Lean Hogs closed at up 0.775 at 61.100.
“A man is not old until regrets take the place of dreams.”
Author: John Barrymore
AS I SEE IT: After trading lower for two days the market turned in overnight trading and had a very strong rally with strong market internals. Short term resistance prices were taken out and the 1477 t0 78 area held a small price retrenchment mid day. Now I want to see if the resistance at 1492 to 93 can be taken out on the long side.
I had some good price formations and trading ranges in the E-mini S&P, Grains, and the Oil contracts today.
I HOPE YOU HAD A GOOD TRADING DAY TOO!
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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