Closing Market News February 13, 2008
The Dow closed up 178.83 at 12,552.24 and the Nasdaq closed up 52.16 at 2373.93. Transports closed up 41.37 at 4774.59.
March E-mini S&P Futures closed up 14.00 at 1363.75 and the March Nasdaq 100 Futures closed up 30.25 at 1820.25. March E-mini S&P Futures total volume was average trading 1.85 million contracts. March 30 Yr. T-Bond Futures are trading down 0-25 at 117-23.
March Oil Futures closed up .49 at 93.25 and March Natural Gas Futures closed down .05 at 8.39.
April Gold Futures closed down .90 at 910.20 and March Silver Futures closed up 0.103 at 17.353.
Grains were mixed with March Wheat Futures closing down 15 ½ cents at 9.91 ½, March Beans closed up 7 ½ cents at 13.28 ½, and March Corn closed down ¾ of a cent at 4.97.
April Live Cattle Futures closed down .75 at 94.025 and March Feeder Cattle closed down .75 at 104.95. April Lean Hogs closed at down 1.675 at 64.20.
“They say that time changes things, but you actually have to change them yourself.”
Author: Andy Warhol
AS I SEE IT: Overnight markets traded higher and when a strong Retail Sales Report came out it continued on up. After the regular session opened there was a small sell off in the E-mini S&P but it didn’t even close the opening gap. The market turned up and traded in an up channel for the rest of the day. There was a small sell off into the close.
The market has had a nice little three day rally so know I want to see if resistance at today’s high can be taken out and it continues higher, or if the market is going to turn over once again. I’ll let the market tell me what it wants to do. This rally has taken place on low volume. I would like to see volume pick up on any rally from here if the up move is to continue.
I HOPE YOU HAD A NICE PROFITABLE TRADING DAY!
Have as much fun trading as I do!
Ray
P 303-796-1005
F 303-796-1023
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