Futures Trading

CLOSING MARKET NEWS

March 20, 2008

The Dow closed up 261.66 at 12,361.32 and the Nasdaq closed up 48.15 at 2258.11. Transports closed up 136.48 at 4707.65.

Total volume on the NYSE was above average trading 2.70 billion shares. Up/down volume was 3.22 to 1 positive, Nasdaq up/down volume was 4.71 to 1 positive.

June E-mini S&P Futures closed up 25.25 at 1324.75 and the June Nasdaq 100 Futures closed up 25.50 at 1750.00. June E-mini S&P Futures total volume was average trading 2.16 million contracts. June 30 Yr. T-Bond Futures are trading up 0-24 at 120-29.

May Oil Futures closed down .70 at 101.84 and May Natural Gas Futures closed up .03 at 9.14.

April Gold Futures closed down 25.30 at 920.00 and May Silver Futures closed down 1.595 at 16.85.

Grains were lower with May Wheat Futures down 86 ¼ cents closing at 9.87 ½, May Beans were LIMIT DOWN 50 cents at 12.07, and May Corn closed down 19 ¾ cents at 5.07 ¼.

April Live Cattle Futures closed up 1.05 at 90.675 and April Feeder Cattle closed up 1.875 at 104.025. April Lean Hogs closed up 1.375 at 56.325.

“Thought is the sculptor who can create the person you want to be.”
Author: Henry David Thoreau

AS I SEE IT: This has been a rock and roll week with the Dow trading up 21.16 points Monday, up 420.41 Tuesday, Down 293 points Wednesday, and up 261.66 today. Overnight the market was down hard before rallying into our regular market session open. Support held after a fast up and down market for the first 30 minutes and then started the rally that lasted until the last few minutes of trading when the E-mini S&P dropped about 9 points.

Some high profile traders are saying that a bottom is in this market now but I don’t agree. There can be more up days to come but Bear Markets usually don’t heal up this quickly. The government is throwing money at the investment banks to hold them and I don’t think that is a good sign in the long run. Bear Stearns was a warning to me that other investment banks can have some of the same problems.

I HOPE YOU HAD A VERY PROFITABLE TRADING WEEK!

ENJOY THE THREE DAY 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