Monday, January 28, 2008

Closing Market News January 28, 2008

The Dow closed up 176.72 at 12,383.89 and the Nasdaq closed up 23.71 at 2349.91. Transports closed up 48.51 at 4523.33.

Total volume on the NYSE was average trading 1.62 billion shares. Up/down volume was 7.74 to 1 positive, Nasdaq up/down volume was 2.03 to 1 positive.

March E-mini S&P Futures closed up 20.50 at 1354.50 and the March Nasdaq 100 Futures closed up 16.75 at 1810.25. March E-mini S&P Futures total volume was average trading 2.00 million contracts. March 30 Yr. T-Bond Futures are trading down 0-01 at 119-30.

March Oil Futures closed up .28 at 90.99 and Feb. Natural Gas Futures closed up .11 at 8.10.

Feb. Gold Futures closed up 16.40 at 927.10 and March Silver Futures closed up .26 at 16.75.

Grains were higher with March Wheat Futures closing LIMIT UP at 9.36, March Beans closed up 10 ¾ at 12.53 ¾, and March Corn closed up 4 cents at 5.02 ¼.

Feb. Live Cattle Futures closed down .65 at 90.75 and March Feeder Cattle closed up 0.575 at 102.675. Feb. Lean Hogs closed at up 1.05 at 57.25.

“The only way to make sure people you agree with can speak is to support the rights of people you don’t agree with.”

Author: Eleanor Holmes Norton

AS I SEE IT: The market traded much lower in overnight trading and after the regular trading session opened, but that reversed after the first hour of trading. The market traded sideways to higher for the rest of the day, closing near the high of the day.

This market has been trading on news and government reports so traders have to be nimble all day. For today the charts look like the market is trying to put in a short term bottom, but I know that can all change in a minute so I’ll just follow our strategies and take what they give me.


You can’t have as much fun trading as I do!


P 303-796-1005

F 303-796-1023

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