Monday, January 7, 2008

Closing Market News January 7, 2008

The Dow closed up 27.31 at 12,827.49 and the Nasdaq closed down 5.19 points at 2499.46. Transports closed up 22.79 at 4283.18.

Total volume on the NYSE was above average trading 1.71 billion shares. Up/down volume was about even trading 1.03 to 1 positive, Nasdaq up/down volume was 1.74 to 1 negative.

Dec. E-mini S&P Futures closed down 1.50 at 1421.50 and the Dec. Nasdaq 100 Futures closed down 9.75 at 1975.25. 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 0-09 at 118-12.

Feb. Oil Futures closed down 2.81 at 95.10 and Feb. Natural Gas Futures closed up .04 at 7.88.

Feb. Gold Futures closed down 3.70 at 862.00 and March Silver Futures closed down 0.127 at 15.30.

Grains were lower with March Wheat Futures closing down 28 ½ cents at 9.03, March Beans closed down 12 ¾ cents at 12.49 ¾, and March Corn closed down ½ cent at 4.66 ¼.

Feb. Live Cattle Futures closed up 0.050 at 94.60 and March Feeder Cattle closed up .35 at 103.70. Feb. Lean Hogs closed at down .70 at 55.70.

“Happiness is not so much in having as sharing. We make a living by what we get, but we make a life by what we give.”

Author: Norman Macewan

AS I SEE IT: The market traded on both sides of unchanged and closed very near Friday’s settlement prices. It’s oversold near today’s lows so I would expect more snap back rallies as trading goes forward.

Day traders that have good trading strategies have had markets that give them good returns. It looks to me like the large range days are going to continue so traders should do well. Today there was some buying at lower levels so I will be paying attention to today’s low.

Have as much fun trading as I do!


P 303-796-1005

F 303-796-1023

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