Tuesday, January 15, 2008

Closing Market News January 15, 2008

The Dow closed down 277.04 at 12,501.11 and the Nasdaq closed down 43.00 at 1912.00. Transports closed down 60.71 at 2417.59.

Total volume on the NYSE was above average trading 1.81 billion shares. Up/down volume was 10.02 to 1 negative, Nasdaq up/down volume was 7.19 to 1 negative.

Dec. E-mini S&P Futures closed down 32.15 at 1388.00 and the Dec. Nasdaq 100 Futures closed down 43.00 at 1912.00. Dec. E-mini S&P Futures total volume was above average trading 2.43 million contracts. March 30 Yr. T-Bond Futures are trading up 1-06 at 119-22.

Feb. Oil Futures closed down 2.30 at 91.90 and Feb. Natural Gas Futures closed down .16 at 8.20.

Feb. Gold Futures closed down .80 at 902.60 and March Silver Futures closed down 0.125 at 16.30.

Grains were mixed with March Wheat Futures closing up 15 cents at 9.32, March Beans closed up 5 cents at 13.01 ½, and March Corn closed down 3 cents at 5.09.

Feb. Live Cattle Futures closed down .10 at 90.80 and March Feeder Cattle closed down .35 at 101.10. Feb. Lean Hogs closed up .55 at 54.65.

“If we had no winter, the spring would not be so pleasant; if we did not sometimes taste of adversity, prosperity would not be so welcome.”

Author: Anne Bradstreet

AS I SEE IT: The market was lower in overnight trading and it continued to lose ground after the Retail Sales and the Empire State Mfg Survey. Then the market chopped back and forth holding support for the rest of the day. Buyers are losing money almost daily so the negativity is increasing rapidly.

In after hours trading the E-mini is down 14.50 points right now on the Intel earnings. If the S&P gaps lower in the morning it will be interesting to me to see how many traders throw in the towel.


Have as much fun trading as I do!


P 303-796-1005

F 303-796-1023




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