Futures Trading
CLOSING MARKET NEWS
April 1, 2008
The Dow closed up 391.47 at 12,654.36 and the Nasdaq closed up 83.65 at 2362.75. Transports closed up 191.41 at 4975.29.
Total volume on the NYSE was average trading 1.69 billion shares. Up/down volume was 9.11 to 1 positive, Nasdaq up/down volume was 9.55 to 1 positive.
June E-mini S&P Futures closed up 46.50 at 1370.50 and the June Nasdaq 100 Futures closed up 67.25 at 1857.75. June E-mini S&P Futures total volume was above average trading 2.32 million contracts. June 30 Yr. T-Bond Futures are trading down 1-10 at 117-15.
May Oil Futures closed down .60 at 100.98 and May Natural Gas Futures closed down .38 at 9.72.
April Gold Futures closed down 33.30 at 882.90 and May Silver Futures closed down .42 at 16.89.
Grains were mixed with May Wheat Futures closing down 34 cents at 8.95, May Beans closed up 13 ¾ at 12.11, and May Corn closed up 17 cents at 5.84 ¼.
April Live Cattle Futures closed down 0.025 at 87.40 and April Feeder Cattle closed down 0.175 at 99.125. April Lean Hogs closed down 1.075 at 56.00.
“Trust only movement. Life happens at the level of events, not of words. Trust movement.
Author: Alfred Adler
AS I SEE IT: Overnight markets were strong before our market opened on this first day of the new quarter. Window dressing, Lehman Brothers and UBS raising $19 billion to replenish capital, and a bullish ISM Mfg Index report sent the Bears running for the weeds. The market rallied until mid day, traded sideways for a couple hours and then continued higher into the close.
The market has had three of these big rallies only to fail in a couple days, but I’m going to pay attention to our trading strategies and go with the momentum because I know there are huge short positions that will cover if the rally continues. Do I think the downside is over? NO!
I HOPE YOU HAD A BIG DAY 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
April 1, 2008
The Dow closed up 391.47 at 12,654.36 and the Nasdaq closed up 83.65 at 2362.75. Transports closed up 191.41 at 4975.29.
Total volume on the NYSE was average trading 1.69 billion shares. Up/down volume was 9.11 to 1 positive, Nasdaq up/down volume was 9.55 to 1 positive.
June E-mini S&P Futures closed up 46.50 at 1370.50 and the June Nasdaq 100 Futures closed up 67.25 at 1857.75. June E-mini S&P Futures total volume was above average trading 2.32 million contracts. June 30 Yr. T-Bond Futures are trading down 1-10 at 117-15.
May Oil Futures closed down .60 at 100.98 and May Natural Gas Futures closed down .38 at 9.72.
April Gold Futures closed down 33.30 at 882.90 and May Silver Futures closed down .42 at 16.89.
Grains were mixed with May Wheat Futures closing down 34 cents at 8.95, May Beans closed up 13 ¾ at 12.11, and May Corn closed up 17 cents at 5.84 ¼.
April Live Cattle Futures closed down 0.025 at 87.40 and April Feeder Cattle closed down 0.175 at 99.125. April Lean Hogs closed down 1.075 at 56.00.
“Trust only movement. Life happens at the level of events, not of words. Trust movement.
Author: Alfred Adler
AS I SEE IT: Overnight markets were strong before our market opened on this first day of the new quarter. Window dressing, Lehman Brothers and UBS raising $19 billion to replenish capital, and a bullish ISM Mfg Index report sent the Bears running for the weeds. The market rallied until mid day, traded sideways for a couple hours and then continued higher into the close.
The market has had three of these big rallies only to fail in a couple days, but I’m going to pay attention to our trading strategies and go with the momentum because I know there are huge short positions that will cover if the rally continues. Do I think the downside is over? NO!
I HOPE YOU HAD A BIG DAY 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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