Tuesday, February 12, 2008

Closing Market News February 12, 2008

The Dow closed up 133.40 at 12,373.41 and the Nasdaq closed down 0.02 at 2320.04. Transports closed down 15.13 at 4733.22.

Total volume on the NYSE was below average trading 1.52 billion shares. Up/down volume was 2.01 to 1 positive, Nasdaq up/down volume was 1.23 to 1 negative.

March E-mini S&P Futures closed up 11.50 at 1349.75 and the March Nasdaq 100 Futures closed down 7.25 at 1790.00. March E-mini S&P Futures total volume was above average trading 2.23 million contracts. March 30 Yr. T-Bond Futures are trading down 0-20 at 118-21.

March Oil Futures closed down .81 at 92.78 and March Natural Gas Futures closed down .09 at 8.44.

April Gold Futures closed down 15.60 at 911.10 and March Silver Futures closed down .22 at 17.25.

Grains were lower with March Wheat Futures closing down 41 cents at 10.07, March Beans closed down 5 cents at 13.21, and March Corn closed down 5 ¾ at 4.97 ¾.

April Live Cattle Futures closed down 0.325 at 94.775 and March Feeder Cattle closed down .15 at 105.75. Feb. Lean Hogs closed at up .80 at 65.875.

“The wave of the future is not the conquest of the world by a single dogmatic creed but the liberation of the diverse energies of free nations and free men.”

Author: John F. Kennedy

AS I SEE IT: Before the regular market session opened Warren Buffet announced on CNBC that his company was offering 800 billion in reinsurance for Muni Bond Companies. That put a bid under the market that lasted thru mid day when the market sold back to intra day support. Internals were positive for the Dow but the Nasdaq was negative.

News on a daily basis moves the market so we’ll see what comes up tomorrow. Retail Sales will be reported at 8:30ET and Business Inventories at 10:00ET. Credit problems will pop up from time to time so I believe sustained rallies will be difficult to come by.


Have as much fun trading as I do!


P 303-796-1005

F 303-796-1023




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