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Market Commentary for August 06, 2007


The markets rebounded across the board today with nice triple digit gains leading the way. Trading volume was heavy amidst impressive trading ranges. Possible bargain hunting from recent losses may lead the way for stocks to strike nicely higher territory. Ahead of the FOMC decision on interest rates, investors and day traders appeared to shrug off concerns over the Fed’s decision tomorrow.

At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a triple digit gain today of 286.87 points to end the session at 13,468.78; the NYSE (New York Stock Exchange) posted a triple digit gain of 183.17 points to end the session at 9,553.6077 the NASDAQ posted a modest gain of 36.08 points for a close at 2,547.33; the S&P 500 moved higher by 34.60 points to end at 1,467.67 and the RUSSELL 2000 moved higher by 11.13 points to close at 766.39. 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 loss of 1.49 points to close at 253.06 and the FTSE RAFI 1000 posted a triple digit gain of 132.53 points to close at 6,081.70.

Economic Data: N/A

Commodities Markets

The trend was mostly lower across the board today for the Energy Sector: Light crude moved sharply lower by $3.42 today to close at $72.06 a barrel; Heating Oil ended the session lower by $0.09 at $1.94 gallon; Natural Gas moved higher today by $0.12 to close at $6.21 per million BTU and Unleaded Gas moved lower by $0.10 today to close at $1.93 a gallon.

Metals Market ended the session mostly lower across the board today: Gold moved lower today to post a loss of $1.10 to close at $683.30 an ounce; Silver closed lower today by $0.13 to close at $13.03 per ounce; Platinum moved higher today by $1.00 again to close at $1,299.00 an ounce and Copper moved lower on the day by $0.01 to close at $3.47 per pound.

On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day lower by 2.55 to close at 75.05; Pork Bellies ended the day higher today by 0.20 to close at 87.55; Live Cattle moved lower by 0.28 to close at 97.70 and Feeder Cattle ended the day higher by 0.20 at 116.53.

Other Commodities: Corn closed with no change at 343.00 and Soybeans moved sharply lower today for a loss of 11.00 points to end the session at 850.00.

The e-mini Dow ended the session today at 13,485 with a substantial gain of 219 points on the trading session. The total Dow Exchange Volume for the day came in at 273,840 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 6/32 at 100 6/32; 5 year bond closed lower by 12/32 at 100 7/32; 10 year bond closed lower by 15/32 at 98 3/32 and the 30 year bond closed lower by 22/32 at 97 15/32.

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 4,904,462; Open Interest for Futures moved higher by 162,698 points to close at 10,275,140; the Open Interest for Options moved higher by 88,922 points to close at 8,634,242 and the Open Interest for OTC closed with no change at 7,407 for a total Open Interest of 18,916,789 for a total gain on the day of 251,620 points.

On the NYSE today, advancers came in at 1,706; decliners totaled 1,554; unchanged came in at 63; new highs came in at 39 and new lows came in at 646. Gainers and losers for the day on the NYSE which received much attention from many day traders: CME Group Incorporated (CME) romped higher with the major indices with a high on the trading session of $574.22, a low of $556.10 for a gain on the session of 16.31 points with a final trading price on the Big Board of $574.22; The Bear Stearns Companies Incorporated (BSC) began its rebound today with a high on the session of $113.81, a low of $99.75 for a gain of 5.46 points to close the trading day at $113.81; Las Vegas Sands Corporation (LVS) posted a gain on the day of 5.26 points to close the day at $99.02; BlackRock Incorporated (BLK) posted a favorable gain of 5.30 points to close the session at $156.30; California Water Service Group Holding (CWT) pounded on some points today with a gain of 4.96 points to climb higher by 14.02% for a final trading price on the day of $40.35 and The Goldman Sachs Group Incorporated (GS) bolted higher on the session for a gain of 7.85 points with a high of $187.86, a low on the day of $175.00 to close the trading day at $187.53.

On the NASDAQ today, advanced totaled 1,454; decliners totaled 1,629; unchanged came in at 111, new highs came in at 36 and new lows came in at 521. Gainers and losers for the day on the NASDAQ: Green Mountain Coffee Roasters Incorporated (GMCR) posted a favorable gain of 2.24 points to end the trading session at $30.26; Healthcare Services Group Incorporated (HCSG) moved higher on the trading day for a gain of 13.21% to climb higher by 3.66 points for a closing trading price of $31.37; RAM Holdings Limited (RAMR) plunged lower by 37.53% to shed 4.34 points on the trading day with a high on the trading day of $11.52, a low on the session of $5.91 for a final trading price of $7.22 and Moldflow Corporation (MFLO) fell sharply lower on the trading session for a loss of 22.43% to shed 4.66 points to close the first trading day of the week at $16.12.

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Millennium-Traders