Friday, April 4, 2008

Futures Trading


CLOSING MARKET NEWS
April 4, 2008

The Dow closed down 16.61 at 12,609.42 and the Nasdaq closed up 7.68 at 2370.98. Transports closed down 22.94 at 4976.39.

Total volume on the NYSE was below average trading 1.23 billion shares. Up/down volume was about even, Nasdaq up/down volume was 1.25 to 1 positive.

June E-mini S&P Futures closed down 1.50 at 1372.00 and the June Nasdaq 100 Futures closed up 2.50 at 1869.75. June E-mini S&P Futures total volume was average trading 1.92 million contracts. June 30 Yr. T-Bond Futures are trading up 1022 at 119-08.

May Oil Futures closed up 2.40 at 106.23 and May Natural Gas Futures closed down .09 at 9.32.

June Gold Futures closed up 3.40 at 913.00 and May Silver Futures closed up 20 at 12.77.

Grains were mixed with May Wheat Futures closing up 37 ¼ at 9.74 ¼, May Beans closed up 20 cents at 12.77, and May Corn closed down 2 cents at 5.98.

June Live Cattle Futures closed up 0.225 at 89.30 and April Feeder Cattle closed up .95 at 101.20. April Lean Hogs closed up 2.625 at 72.225.


“We cannot hold a torch to light another’s path without brightening our own.”
Author: Ben Sweetland


AS I SEE IT: Jobs were cut by 80,000 last month which were the worst in 5 years. The market rallied in early morning trading in front of the report but fell after the report was announced. When the regular trading session opened the S&P dropped a few points but rallied back near the overnight highs before selling off into the close. On Tuesday the market turned up in the short term and has held those gains.

Traders were buying the dips in the market this week and many think we are in for higher prices. The only thing I don’t like about the market in here is that the rallies have been on very light volume. That is a danger sign for me unless it changes quickly next week.

I HOPE YOU HAD A VERY PROFITABLE TRADING WEEK!

ENJOY YOUR 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

No comments: