Friday, February 15, 2008

Futures Trading Closing Market News February 15, 2008








The Dow closed down 28.77 at 12,348.21 and the Nasdaq closed down 10.74 at 2321.80. Transports closed down 3.17 at 4702.71.

Total volume on the NYSE was below average trading 1.49 billion shares. Up/down volume was 1.07 to 1 negative, Nasdaq up/down volume was 2.31 to 1 negative.

March E-mini S&P Futures closed up .25 at 1351.25 and the March Nasdaq 100 Futures closed down 7.75 at 1786.50. March E-mini S&P Futures total volume was below average trading 1.46 million contracts. March 30 Yr. T-Bond Futures are trading up 0-24 at 117-05.

April Oil Futures closed down .10 at 95.45 and March Natural Gas Futures closed down .11 at 8.66.

April Gold Futures closed down 4.80 at 906.00 and March Silver Futures closed down 0.135 at 17.12.

Grains were mixed with March Wheat Futures closing down 4 ½ cents at 10.27 ½, March Beans closed up 5 ¾ cents at 13.73 ¾, and March Corn closed up 3 ¾ cents at 5.14 ¾.

April Live Cattle Futures closed down .10 at 93.975 and March Feeder Cattle closed up .20 at 104.625. April Lean Hogs closed at unchanged at 64.30.

“Experience is one thing you can’t get for nothing.”

Author: Oscar Wilde

AS I SEE IT: The market opened lower and traded sideways to higher for the first hour but that small rally failed and it sold off to overnight support. About mid day a rally started that carried into the close filling the opening gap.

This options expiration day traded on very light volume. It looked like many traders took a long weekend because of the President’s Day holiday on Monday. Because I believe we are in a Bear Market I think many traders will continue to sell rallies.

I HOPE YOU’VE HAD A VERY PROFITABLE TRADING WEEK!

PRESIDENT’S DAY HOLIDAY MONDAY!

HAVE A GOOD LONG WEEKEND!

Have as much fun trading as I do!

Ray

P 303-796-1005

F 303-796-1023

www.SoaringPhoenixLLC.com

soaringphoenix@qwest.net

www.SoaringPhoenixLLC.blogspot.com

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