Closing Market News February 19, 2008
The Dow closed down 10.99 at 12,337.22 and the Nasdaq closed down 15.60 at 2306.20. Transports closed down 6.89 at 4695.82.
Total volume on the NYSE was below average trading 1.42 billion shares. Up/down volume was 1.08 to 1 positive, Nasdaq up/down volume was 1.49 to 1 negative.
March E-mini S&P Futures closed up 4.25 at 1355.50 and the March Nasdaq 100 Futures closed down 5.00 at 1781.50. March E-mini S&P Futures total volume was average trading 1.71 million contracts. March 30 Yr. T-Bond Futures are trading down 1-07 at 115-25.
April Oil Futures closed up 4.25 at 99.70 and March Natural Gas Futures closed up .32 at 8.98.
April Gold Futures closed up 23.70 at 929.80 and March Silver Futures closed up .39 at 17.508.
Grains were higher with March Wheat Futures closing up 8 ½ cents at 10.36, March Beans closed up 24 ¾ cents at 13.98 ½, and March Corn closed up 5 ¼ cents at 5.20.
April Live Cattle Futures closed down 0.050 at 93.925 and March Feeder Cattle closed up 0.225 at 104.90. April Lean Hogs closed at up .40 at 64.60.
“It is better to have enough ideas for some of them to be wrong, than to be always right by having no ideas at all.”
Author: Edward De Bono
AS I SEE IT: Overseas markets had a big rally yesterday while our markets were closed for the President’s Day holiday. Our market rallied on the open but started selling off during the first half hour. It traded down to the first overnight support and rallied for a couple hours mid day before selling off again. When Hewlett Packard announced earnings before the close the E-mini S&P rallied 10 points from the low.
Traders are still selling rallies but the E-mini S&P held the up channel its been trading in today. With Oil trading above $100 dollars a barrel in the spot contract I believe it will be difficult for this market to rally much. Tomorrow there should be plenty of market movement so traders can expect a good trading day.
I HOPE YOU MADE MONEY TODAY!
Have as much fun trading as I do!
Ray
P 303-796-1005
F 303-796-1023
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