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Market Commentary for July 16, 2007


The markets were mixed through out the session with the struggle between the Bulls and the Bears clearly evident as the DOW struck yet another, new high. Trading volume was moderate with tight trading ranges as we began another new trading week in the steamy month of July. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a gain of 43.73 points to end the session at 13,950.98; the NYSE (New York Stock Exchange) posted a loss of 32.49 points to end at 10,188.18; the NASDAQ posted a loss of 9.67 points for a close at 2,697.33; the S&P 500 moved lower by 2.98 points to end at 1,549.52 and the RUSSELL 2000 moved lower by 7.30 points to close at 848.47. The FTSE All-World Index ex-US (top Large/Mid Cap aggregate from over 2,700 stocks from the FTSE Global Equity Index Series (GEIS) which covers 90% of the worlds investable market capitalization) close2 at 269.96 and the FTSE RAFI 1000 posted a loss of 20.51 points to close at 6,492.03.

Economic Data:

Empire State Manufacturing Survey Index: A survey conducted by the New York Fed of manufacturers in the state of New York. The participants are from a variety of industries across the state and give their view of the likely direction of certain indicators, throughout the upcoming next six months. Data released today: New York Fed's July Manufacturing Index came in at 26.46 versus 25.75 in June; New York Fed July New Orders came in at 26.52 versus 17.19 in June; New York Fed July Employment came in at 11.39 versus 3.37 in June and New York Fed July Prices Received came in at 8.64 versus 9.57 in June.

Commodities Markets

The trend was mostly lower across the board today for the Energy Sector: Light crude moved higher by $0.22 today to close at $74.15 a barrel; Heating Oil ended the session lower by $0.05 at $2.08 a gallon; Natural Gas moved lower today by $0.29 today to close at $6.48 per million BTU and Unleaded Gas moved lower by $0.10 on the session to close at $2.13 a gallon.

Metals Market ended the session lower across the board today: Gold moved lower today for a loss of $1.00 to close at $666.30 an ounce; Silver closed lower today by $0.05 at $13.07 an ounce; Platinum moved lower today for a loss of $0.40 to close at $1,327.10 an ounce and Copper closed lower by $0.03 at $3.56 per pound.

On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day lower by 0.83 to close at 67.90; Pork Bellies ended the day lower by 1.93 to close 88.28; Live Cattle moved higher by 0.05 to close at 96.35 and Feeder Cattle ended the day higher by 1.30 at 115.15.

Other Commodities: Corn moved sharply lower today with a substantial loss of 20.00 points for a close at 351.00 and Soybeans moved sharply lower today to post very sharp loss of 50.00 points to end the session at 922.75.

The e-mini Dow ended the session today at 14,037 with a gain of 56 points on the trading session. The total Dow Exchange Volume for the day came in at 111,202 which are comprised of Electronic, Open Auction and Cash Exchange. Traders should review workshops available at the CBOT (Chicago Board of Trade) Educational in-person seminars schedules available on CBOT (Chicago Board of Trade) website.

Bonds were higher across the board today: 2 year bond closed higher by 3/32 at 100; 5 year bond closed higher by 8/32 at 99 21/32; 10 year bond closed higher by 13/32 at 95 26/32 and the 30 year bond closed higher by 27/32 at 94 9/32.

The end of day results for the CBOT (Chicago Board of Trade) which is comprised of the total Exchange Volume for Futures and Options (EVFO) including Electronic, Open Auction and Cash Exchange ended the day at 3,160,767. Open Interest for Futures moved lower by 54,234 points to close at 9,913,061; the Open Interest for Options moved higher by 78,667 points to close at 8,885,360 and the Open Interest for OTC closed higher today by 480 points at 6,537 for a total Open Interest of 18,804,958 for a total gain on the day by 24,913 points.

On the NYSE today, advancers came in at 1,029; decliners totaled 2,147; unchanged came in at 131; new highs came in at 256 and new lows came in at 83. Gainers and losers for the day on the NYSE: Terra Nitrogen Company Limited Partnership (TNH) moved higher on the trading session with a high of $134.40, a low of $128.02 for a gain of 4.40 points to close the day at $130.34; DJO Incorporated (DJO) rallied higher on the session for a whopping gain of 19.00% to tack on 8.00 points to end the session at $50.10; Eaton Corporation (ETN) moved higher on the trading day for a gain of 2.77 points to close the session at $100.87 and W.W. Grainger Incorporated (GWW) shed 4.12 points on the Big Board today for a loss of 4.12 points to end the trading day at $94.33.

On the NASDAQ today, advanced totaled 1,035, decliners totaled 1,996; unchanged came in at 141, new highs came in at 206 and new lows came in at 67. Gainers and losers for the day on the NASDAQ: First Solar Incorporated (FSLR) moved lower on the trading day with a low of $110.20, a high of $116.30 for a loss on the day of 3.75 points for a closing price of $112.22; Dynacq Healthcare Incorporated (DYII) bolted higher on the session with a low of $2.30, a high of $8.25 for a super nice gain on the trading day of 208.94% to tack on 5.14 points with an end of day trading price at $7.60; Art’s–Way Manufacturing Company Incorporated (ARTW) rallied higher on the trading day for a gain of 47.83% to climb higher by 5.80 points for a final trading price at $17.93; Hudson Highland Group Incorporated (HHGP) fell sharply on the trading day to post a loss of 22.48% to move lower by 4.95 points for a closing price at $17.07 and Immersion Corporation (IMMR) posted a heavy loss on the session of 15.37% to shed 3.15 points for a closing price of $17.35.

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