Monday, February 11, 2008

Closing Market News February 11, 2008

The Dow closed up 57.88 points at 12,240.01 and the Nasdaq closed up 15.21 at 2320.06. Transports closed up 36.68 at 4748.35.

Total volume on the NYSE was below average trading 1.39 billion shares. Up/down volume was 1.40 to 1 positive, Nasdaq up/down volume was 1.62 to 1 positive.

March E-mini S&P Futures closed up 8.00 at 1338.25 and the March Nasdaq 100 Futures closed up 20.75 at 1797.25. March E-mini S&P Futures total volume was average trading 1.84 million contracts. March 30 Yr. T-Bond Futures are trading up 0-18 at 119-09.

March Oil Futures closed up 1.82 at 93.59 and March Natural Gas Futures closed up .23 at 8.53.

April Gold Futures closed up 4.40 at 926.70 and March Silver Futures closed up 0.360 at 17.47.

Grains were lower with March Wheat Futures closing down 45 cents at 10.48, March Beans closed down 13 cents at 13.26, and March Corn closed down 4 ½ cents at 5.03 ½.

April Live Cattle Futures closed unchanged at 95.10 and March Feeder Cattle closed up 0.875 at 105.90. Feb. Lean Hogs closed at up .20 at 65.075.

“A citizen of America will cross the ocean to fight for democracy, but won’t cross the street to vote in a national election.”

Author: Bill Vaughan

AS I SEE IT: The E-mini S&P sold off a little at the regular trading session open but it only lasted for about an hour before it started to firm up and trade higher. From mid day on it traded sideways closing a little higher on light volume.

March E-mini S&P Resistance continues in the 1344.00 to 45 area with first support in the 1320.00 area. AIG was sharply lower on further credit reporting problems. There seems to be more to come on the downside of this market as new credit problems surface.

Have as much fun trading as I do!


P 303-796-1005

F 303-796-1023

No comments: