Wednesday, March 26, 2008

Futures Trading


CLOSING MARKET NEWS
March 26, 2008

The Dow closed down 109.74 at 12,422.86 and the Nasdaq closed down 16.69 at 2324.36. Transports closed down 88.73 at 4812.33.

Total volume on the NYSE was below average trading 1.42 billion shares. Up/down volume was 2.18 to 1 negative, Nasdaq up/down volume was 2.62 to 1 negative.

June E-mini S&P Futures closed down 16.00 at 1335.50 and the June Nasdaq 100 Futures closed down 15.75 at 1810.25. June E-mini S&P Futures total volume was average trading 1.60 million contracts. June 30 Yr. T-Bond Futures are trading down 0-05 at 118-29.

May Oil Futures closed up 4.80 at 106.02 and May Natural Gas Futures closed up .17 at 9.69.

April Gold Futures closed up 14.00 at 949.40 and May Silver Futures closed up 0.583 at 18.383.

Grains were mixed with May Wheat Futures closing down 334 ¼ cents at 10.33, May Beans closed up 44 ¼ at 13.52, and May Corn closed up 7 ½ cents at 552 ¼.

April Live Cattle Futures closed down 1.00 at 90.15 and April Feeder Cattle closed down .95 at 102.15. April Lean Hogs closed down .65 at 57.25.

“None are so old as those who have outlived enthusiasm.”
Author: Henry David Thoreau

AS I SEE IT: The market lost ground today on a drop in durable goods orders and a worsening outlook for bank profits. By mid-day the market was trading at the low when it turned up sharply on a news item only to sell all the way back down into the close.

We are approaching the window dressing time of the month again so I will expect volatility to continue. The E-mini S&P prices move quickly in this market so traders sure have to be on their toes to trade it, but the volatility gives us a higher percentage of profitable trades.

I HOPE YOU MADE MONEY TODAY!

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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