CLOSING MARKET NEWS
March 28, 2008
The Dow closed down 86.06 at 12,216.40 and the Nasdaq closed down 19.65 at 2261.18. Transports closed down 24.56 at 4754.10.
Total volume on the NYSE was below average trading 1.33 billion shares. Up/down volume was 2.90 to 1 negative, Nasdaq up/down volume was 2.71 to 1 negative.
June E-mini S&P Futures closed down 10.75 at 1319.00 and the June Nasdaq 100 Futures closed down 12.00 at 1780.00. June E-mini S&P Futures total volume was below average trading 1.52 million contracts. June 30 Yr. T-Bond Futures are trading up 0-24 at 118-29.
May Oil Futures closed down 1.96 at 105.62 and May Natural Gas Futures closed up .11 at 9.80.
April Gold Futures closed down 18.20 at 930.60 and May Silver Futures closed down 0.610 at 17.94.
Grains were mixed with May Wheat Futures closing down 25 cents at 9.89, May Beans closed down 60 cents at 12.67 ¼, and May Corn closed up 5 cents at 5.60 ½.
April Live Cattle Futures closed down 0.975 at 87.65 and April Feeder Cattle closed down .35 at 100.425. April Lean Hogs closed up 0.125 at 58.10.
“Your ability to learn faster than your competition is your only sustainable competitive advantage.”
Author: Arie De Gues
AS I SEE IT: Overnight the market traded higher, and after our regular session opened it stayed up for about 2 hours before sellers took over again. The market continued to trade lower until the last half hour of trading when there was a small rally into the close. This is the third down day in a row so I want to see how markets look on Monday morning. Window dressing usually rallies the market but so far that has worked in reverse which is not a good sign to me unless the market heals up quickly.
Earnings reports and the Employment Situation on Friday next week will keep this market moving. It should be a good trading week. After all the movement this week the E-mini S&P closed down only 7.25 points for the week.
I HOPE YOU HAD A VERY PROFITABLE TRADING WEEK!
HAVE A GOOD WEEKEND!
Have as much fun trading as I do!