Tuesday, April 15, 2008

Futures Trading

April 15, 2008

The Dow closed up 60.41 at 12,362.47 and the Nasdaq closed up 10.63 at 2286.04. Transports closed up 49.47 at 4882.77.

Total volume on the NYSE was below average trading 1.23 billion shares. Up/down volume was 1.81 to 1 positive, Nasdaq up/down volume was 1.41 to 1 positive.

June E-mini S&P Futures closed up 4.75 at 1336.00 and the June Nasdaq 100 Futures closed up .50 at 1796.75. June E-mini S&P Futures total volume was average trading 1.75 million contracts. June 30 Yr. T-Bond Futures are trading down 1-04 at 118-05.

June Oil Futures closed up 2.05 at 113.22 and May Natural Gas Futures closed up .12 at 10.24.

June Gold Futures closed up 3.60 at 932.30 and May Silver Futures were up 0.050 at 17.85.

Grains were mixed with May Wheat Futures closing down ¼ cent at 8.95 ¾, May Beans closed up 7 ½ cents at 13.80 and May Corn closed up 14 ¼ cents at 6.06.

June Live Cattle Futures closed up 1.475 at 91.575 and May Feeder Cattle closed up 0.875 at 103.95. June Lean Hogs closed up 2.175 at 74.10.

“You have to expect things of yourself before you can do them.”
Author: Michael Jordan

AS I SEE IT: The market traded higher near our regular market trading session but started selling off soon after the opening bell. It sold down to yesterdays low in the E-mini S&P contract before starting a rally that lasted into the close. It seemed that traders had a good idea the Intel earnings after the bell would be good and they were right. Right now the E-mini S&P is 6.25 points higher in after hour trading.

Tomorrow morning I want to see how the overnight markets have handled the Intel news. I’m also watching the Oil market move to all time highs in the 113.00 to 114.00 area. Tomorrow the Consumer Price Index and Housing Starts reports will come out at 8:30ET. Industrial Production comes out at 9:15ET with the Beige Book at 2:00ET so the market should be on the move. For me, resistance in the E-mini S&P is in the 1345.00 area and support is in the 1325.00 area.


Have as much fun trading as I do!

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




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