Monday, April 14, 2008

Futures Trading

April 14, 2008

The Dow closed down 23.36 at 12,302.06 and the Nasdaq closed down 14.42 at 2275.82. Transports closed up 19.44 at 4833.30.

Total volume on the NYSE was below average trading 1.17 billion shares. Up/down volume was 1.61 to 1 negative, Nasdaq up/down volume was 2.51 to 1 negative.

June E-mini S&P Futures closed down 4/25 at 1331.25 and the June Nasdaq 100 Futures closed down 10.00 at 1796.25. June E-mini S&P Futures total volume was below average trading 1.46 million contracts. June 30 Yr. T-Bond Futures are trading down 0-14 at 119-08.

June Oil Futures closed up 1.46 at 111.17 and May Natural Gas Futures closed up .15 at 10.05.

June Gold Futures closed up 1.50 at 929.00 and May Silver Futures up .10 at 17.79.

Grains were mixed with May Wheat Futures closing down ½ cent at 8.96, May Beans were 40 cents higher closing at 13.72 ¼, and May Corn closed up 7 ½ cents at 5.91 ¾.

June Live Cattle Futures closed up 0.325 at 90.10 and May Feeder Cattle closed up 0.025 at 103.075. June Lean Hogs closed up .80 at 71.90.

“Books are the bees which carry the quickening pollen from one to another mind.”
Author: James Russell Lowell

AS I SEE IT: This was a small trading range day as the market waits for more earnings in the next couple days. The volume was very light as most traders are standing on the sideline waiting for more information before they establish new positions.

I believe volatility will be back in a big way before this week is over. For me, support in the E-mini S&P contract is in the 1315.00 area and resistance is in the 1345.00 area.


Have as much fun trading as I do!

P 303-796-1005
F 303-796-1023

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