Friday, December 7, 2007

Closing Market News December 7, 2007

The Dow closed up 5.69 points at 13,625.58 and the Nasdaq closed down 2.87 at 2706.16. Transports closed up 86.82 at 4876.35.

Total volume on the NYSE was below average trading 1.20 billion shares. Up/down volume was 107 to 1 positive, Nasdaq up/down volume was 1.20 to 1 negative.

Dec. E-mini S&P Futures closed down .25 at 1507.25 and the Dec. Nasdaq 100 Futures closed up 6.00 at 2132.00. Dec. E-mini S&P Futures total volume was below average trading 1.2 million contracts. March 30 Yr. T-Bond Futures closed down 1-09 at 115-11.

Jan. Oil Futures closed down 1.95 at 88.28 and Jan. Natural Gas Futures closed down .17 at 7.16.

Feb. Gold Futures closed down 6.90 at 800.20 and March Silver Futures closed down 0.1120 at 14.505.

Grains were higher with March Wheat Futures closing LIMIT UP at 9.21 1/2, Jan Beans closed up 21 cents at 11.19 ¾, and March Corn closed up 5 ¼ cents at 4.17 ¼.

Feb. Live Cattle Futures closed up 0.575 at 96.750 and Jan Feeder Cattle closed down .40 at 105.95. Feb. Lean Hogs closed at up .50 at 61.70.

“You might be a redneck if you think a stock tip is advice on worming’ your hogs.”

Author: Jeff Foxworthy

AS I SEE IT: The market rallied early this morning on the Employment Report, but immediately sold off when the regular market session opened filling the closing gap. The rest of the day was spent trading sideways to lower with a small rally into the close. Weekend news could move this market, but if nothing special happens most traders are going to be waiting for the FOMC meeting on Tuesday to make large trading decisions.

This has been a very good trading week with the Dow moving 430 points, the E-mini S&P had a 48.25 point range, the Wheat contract had a 55 cent range, and the Oil contract traded in a $4.91 dollar trading range. This month can be a very good trading month and this week is confirming that.



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


P 303-796-1005

F 303-796-1023

No comments: