Closing Market News February 14, 2008
The Dow closed down 175.26 at 12,376.98 and the Nasdaq closed down 40.61 at 2332.54. Transports closed down 68.71 at 4705.88.
Total volume on the NYSE was below average trading 1.39 billion shares. Up/down volume was 1.12 to 1 positive, Nasdaq up/down volume was 3.73 to 1 negative.
March E-mini S&P Futures closed down 12.75 at 1351.00 and the March Nasdaq 100 Futures closed down 26.00 at 1794.25. March E-mini S&P Futures total volume was average trading 1.90 million contracts. March 30 Yr. T-Bond Futures are trading down 1-15 at 116-19.
March Oil Futures closed up 2.19 at 95.46 and March Natural Gas Futures closed up .38 at 8.77.
April Gold Futures closed up 1.90 at 911.80 and March Silver Futures closed down 0.098 at 17.255.
Grains were higher with March Wheat Futures closing up 40 ½ cents at 10.32, March Beans closed up 39 ½ cents at 13.68, and March Corn closed up 14 ½ cents at 5.11 ½.
April Live Cattle Futures closed up 0.050 at 94.075 and March Feeder Cattle closed down 0.525 at 104.425. April Lean Hogs closed at up .15 at 64.30.
“Excellence is not a skill. It is an attitude.”
Author: Ralph Marston
AS I SEE IT: The market traded higher in overnight trading, but when Bernanke’s speech was released it sold off for an hour. It tried to rally three different times in the afternoon but gave it up the last half hour closing near the low.
First support for me is in the 1347.00 area with resistance in the 1372.00 area. It looks like the market has started rolling over again but I want it to break the support zones to give me more assurance.
I HOPE YOU HAD A PROFITABLE TRADING DAY!
Have as much fun trading as I do!
Ray
P 303-796-1005
F 303-796-1023
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