Friday, March 14, 2008

Futures Trading









CLOSING MARKET NEWS

March 14, 2008

The Dow closed down 194.65 at 11,951.09 and the Nasdaq closed down 51.12 at 2212.49. Transports closed down 74.66 at 4506.57.

Total volume on the NYSE was average trading 1.85 billion shares. Up/down volume was 11.37 to 1 negative, Nasdaq up/down volume was 10.52 to 1 negative.

June E-mini S&P Futures closed down 22.25 at 1293.00 and the June Nasdaq 100 Futures closed down 31.25 at 1724.50. June E-mini S&P Futures total volume was heavy trading 3.87 million contracts. June 30 Yr. T-Bond Futures are trading up 1-01 at 119-07.

May Oil Futures closed down 1.17 at 108.00 and May Natural Gas Futures closed down .34 at 9.96.

April Gold Futures closed up 5.70 at 999.50 and May Silver Futures closed up 0.235 at 20.655.

Grains were lower with May Wheat Futures closing down 52 ¼ cents at 11.91 ½, May Beans closed down 50 cents at 13.52 ¾, and May Corn closed down 10 ¼ cents at 5.59 ¼.

April Live Cattle Futures closed up .95 at 90.50 and April Feeder Cattle closed up 0.575 at 102.50. April Lean Hogs closed down 2.275 at 55.025.


“Discipline is the bridge between goals and accomplishment.”
Author: Jim Rohn

AS I SEE IT: This was a very wild trading day with large fast swings in both directions. The market shot up on the Consumer Price Index report early this morning making the charts look very bullish. Then as the regular market session opened news about a Bear Stearns bailout from the Federal Reserve and JPMorgan Chase brought the market down hard. I’ve continued to talk about the big swings in Bear Markets on news and Fed action, and so far that’s exactly what we’ve seen. Now I want to see what happens over the weekend to move the market. The trend is down but what happens to Bear Stearns over the weekend can move the market one way or the other on Monday.

Even though the market sold off today it wasn’t an easy market to trade because of the big price swings. I believe there will be many more of these fast moving price swings to come so it will be a good market for traders.

I HOPE YOU HAD A VERY PROFITABLE TRADING WEEK!

HAVE A RESTFUL WEEKEND AND GET READY FOR MORE TRADING ACTION!

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

1 comment:

MP3 e MP4 said...

Hello. This post is likeable, and your blog is very interesting, congratulations :-). I will add in my blogroll =). If possible gives a last there on my blog, it is about the MP3 e MP4, I hope you enjoy. The address is http://mp3-mp4-brasil.blogspot.com. A hug.