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Market Commentary for July 30, 2007


We saw the markets produce the beginning of a rebound from the losses experienced last week, as we begin the final few days in July. The early session appeared to be a tug-of-war between the Bulls and the Bears. As the trading day moved forward, the Bulls took over market direction to move the indices into higher territory. Trading volume was moderate with decent trading ranges for active day traders.

At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a gain of 92.84 points to end the session at 13,358.31; the NYSE (New York Stock Exchange) posted a triple digit gain of 114.95 points to end the session at 9,623.18; the NASDAQ posted a gain of 21.04 points for a close at 2,583.28; the S&P 500 moved higher by 14.96 points to end at 1,473.91 and the RUSSELL 2000 moved higher by 6.40 points to close at 784.23.

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) posted a gain of 0.29 points to close at 255.62 and the FTSE RAFI 1000 posted a gain of 60.98 points to close at 6,122.57.

Dallas Fed July Manufacturing Production Index fell by 9.7 versus June reading of 14.0 and Dallas Fed July Business Activity fell by 3.6 versus June reading of 10.8.

U.S. Treasury Assistant Secretary on Economic Policy, Phillip L. Swagel commented today that housing may drag on GDP for next 'several' quarters.

Economic Data: N/A

Commodities Markets

The trend was mostly lower across the board today for the Energy Sector: Light crude moved lower by $0.19 today to close at $76.83 a barrel; Heating Oil ended the session lower by $0.01 at $2.08 gallon; Natural Gas moved higher today by $0.29 to close at $6.50 per million BTU and Unleaded Gas moved lower today by $0.02 to close at $2.09 a gallon.

Metals Market ended the session higher across the board today: Gold moved higher today to post a gain of $4.30 to close at $676.60 an ounce; Silver closed higher today by $0.19 at $12.90 per ounce; Platinum moved higher today for gain of $0.10 to close at $1,286.80 an ounce and Copper moved higher on the day by $0.04 to close at $3.59 per pound.

On the Livestock and Meat Markets, the trend was higher across the board today: Lean Hogs ended the day higher by 1.25 to close at 73.80; Pork Bellies ended the day higher by 0.40 to close at 91.05; Live Cattle moved higher by 0.33 to close at 98.98 and Feeder Cattle ended the day higher by 0.03 at 117.80.

Other Commodities: Corn moved higher again today for a gain of 3.50 points to close at 340.00 and Soybeans moved nicely higher today for a gain of 7.25 points to end the session at 847.75.

The e-mini Dow ended the session today at 13,429 with nice gain of 145 points on the trading session. The total Dow Exchange Volume for the day came in at 285,664 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 lower across the board today: 2 year bond closed lower by 5/32 at 100 2/32; 5 year bond closed lower by 9/32 at 99 31/32; 10 year bond closed lower by 10/32 at 97 20/32 and the 30 year bond closed lower by 11/32 at 96 25/32.

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 6,322,937; Open Interest for Futures moved lower by 223,803 points to close at 10,022,190; the Open Interest for Options moved lower by 394,877 points to close at 8,368,389 and the Open Interest for OTC closed with no change at 7,590 for a total Open Interest of 18,398,169 for a total loss on the day of 618,680 points.

On the NYSE today, advancers came in at 2,012; decliners totaled 1,236; unchanged came in at 70; new highs came in at 26 and new lows came in at 408. Gainers and losers for the day on the NYSE which received much attention from many day traders: NovaStar Financial Incorporated (NFI) moved sharply lower on the trading day to post a loss of 20.87% to shed 3.39 points for a final trading price on the day at $12.85; Telemig Celular Participacoes SA (TMB) moved sharply higher on low trading volume to post a gain of 10.69% to tack on 5.40 points on the day with a high of $56.23, a low of $50.19 for a final trading price of $55.90; Mine Safety Appliances Company (MSA) rose by 10.28% on the day to tack on 4.23 points for a closing price at $45.37; Perini Corporation (PCR) romped higher on the session for a gain of 4.73 points to close the day at $61.37; RadioShack Corporation (RSH) shed 11.60% for a loss of 3.34 points on the day with a high of $27.00, a low of $24.63 to close the session at $25.45; CME Group Incorporated (CME) proceeded to move higher as it has done over past few days for a gain on the session of 15.05 points with a high on the day of $571.60, a low of $559.50 for an active day trade to close the session at $571.55; Rio Tinto plc (RTP) took off higher on the day to climb 11.62 points at the close to end the day at $283.00 and SPX Corporation (SPW) had a follow through from Fridays gain to climb 6.03 points for a final trading day price at $94.70.

On the NASDAQ today, advanced totaled 1,718; decliners totaled 1,375; unchanged came in at 103, new highs came in at 40 and new lows came in at 306. Gainers and losers for the day on the NASDAQ: Rural Cellular Corporation (RCCC) rallied higher on the trading day by 10.95 points to climb 34.42% to close the day at $42.76; ValueClick Incorporated (VCLK) plummeted on the trading session to post a loss of 19.22% to shed 5.00 points to end the trading day at $21.01 and VSE Corporation (VSEC) sank on the session to shed 12.02% for a loss of 6.73 points with a high on the trading day of $55.12, a low of $48.11 for a final trading price at $49.27.

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Millennium-Traders