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Market Commentary for September 21, 2007


Quadruple witching session put out heavy trading volume and the trading session today, was controlled by the Bulls. Overall the session ran through several slow trading periods amidst heavy trading volume. As we put an end to the week, possible the weather had an adverse affect on trading activity as many day traders and investors headed out for the day early, for one of the possible final golf games of the year.

At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a gain of 53.49 points on the day to end the session at 13,820.19; the NYSE (New York Stock Exchange) posted a gain of 45.36 points to end the session at 9,981.83; the NASDAQ posted a gain of 16.93 points for a close at 2,671.22; the S&P 500 moved higher with a gain of 7.00 points to end at 1,525.75 and the RUSSELL 2000 moved higher by 3.35 points to close at 813.11. 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 world’s investable market capitalization) posted a gain of 0.13 points to close at 264.59 and the FTSE RAFI 1000 posted a gain of 22.89 points to close at 6,278.26.

Kevin M. Warsh, Federal Reserve Governor commented today: sub-prime 'trigger,' not 'cause' of market turmoil; liquidity shock could lead to greater credit risk; market developments have increased economic uncertainty; should be 'wary' of protecting investors from losses; recent market turmoil due in part to 'complacency'; transparent markets faring better in recent days, weeks; Fed actions not creating moral hazard; expects normalization for jumbo mortgages and U.S. unemployment rate 'envy' of the world.

Economic Data: N/A

Commodities Markets
The trend was mostly lower across the board today for the Energy Sector: Light crude moved lower today by $0.16 to close at $81.62 a barrel; Heating Oil closed at $2.28 a gallon with no change; Natural Gas moved higher today by $0.01 to close at 6.98 per million BTU and Unleaded Gas moved lower today by $0.02 to close at $2.11 a gallon.

Metals Market ended the session mixed across the board today: Gold moved lower today by $1.00 to close at $738.90 an ounce; Silver moved higher by $0.15 to close at $13.62 per ounce; Platinum moved higher today by $3.00 to close at $1,331.60 an ounce and Copper closed at $3.59 per pound, with no change.

On the Livestock and Meat Markets, the trend was mostly higher across the board today: Lean Hogs ended the day lower by 0.98 to close at 63.80; Pork Bellies ended the day higher by 1.08 at 86.70; Live Cattle ended the day higher by 1.23 at 100.18 and Feeder Cattle ended the day higher by 0.88 at 116.40.

Other Commodities: Corn moved higher on the day to post a gain of 7.25 at 376.50 and Soybeans moved sharply lower today with a loss of 9.50 points to end the session at 979.00.

The e-mini Dow ended the session today at 13,890 with a gain of 46 points on the trading session. The total Dow Exchange Volume for the day came in at 177,836 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 mixed across the board today: 2 year bond closed higher by 4/32 at 99 29/32; 5 year bond closed higher by 10/32 at 99 8/32; 10 year bond moved lower by 1 2/32 today to close at 100 31/32 and the 30 year bond moved strongly higher by 2 20/32 to close at 101 23/32 for the day.

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 5,044,803; Open Interest for Futures moved higher by 104,650 points to close at 8,978,046; the Open Interest for Options moved higher by 52,606 points to close at 8,539,824 and the Cleared Only closed lower by 216 points at 8,266 for a total Open Interest on the day of 17,526,136 with a total Change on the day with a gain of 157,040 points.

On the NYSE today, advancers came in at 1,976; decliners totaled 1,210; unchanged came in at 102; new highs came in at 158 and new lows came in at 42. Gainers and losers for the day as well as active day trading stocks on the NYSE: Harman International Industries (HAR) posted a massive plunge on the trading session with a loss on the day of 30.09 points to shed 26.81% with a high on the day of $112.25, a low of $85.00 with a final trading price of $82.16; China Eastern Airlines Corporation Limited (CEA) continued its romp into higher territory with a gain on the day of 10.36 points with a high on the trading day of $147.30, a low of $125.42 for a final trading price at $131.60; China Southern Airlines Company Limited (ZNH) provided quite the active day trading stock with a loss of 3.65 points with a high on the day of $98.31, a low of $86.19 for a closing price on the day of $90.83; IHS Incorporated (IHS) made a nice move into higher territory by 4.38 points for a high on the trading day of $57.28, a low of $53.60 with a final trading price of $56.73; National-Oilwell Varco Incorporated (NOV) posted a gain of 4.53 points on the trading day for a final trading price of $144.70 and PetroChina Company Limited (PTR) bolted higher on the session with a gain of 9.65 points for a closing price at the weekly close of $168.00.

On the NASDAQ today, advanced totaled 1,626; decliners totaled 1,354; unchanged came in at 154; new highs came in at 125 and new lows came in at 40. Gainers and losers for the day as well as, active day trading stocks on the NASDAQ: Pool Cooperation (POOL) moved lower on the session to post a loss of 3.28 points to move lower by 11.71% for a final trading price at $24.80; RTW Incorporated (RTWI) posted a sharp gain on the trading session of 48.15% to climb higher by 3.90 points with a final trading price of $12.00; Avatar Holdings Incorporated (AVTR) fell sharply lower on the day by 6.54 points to shed 10.86% with a high on the session of $61.19, a low of $53.00 with a final trading price of $53.67; Google Incorporated (GOOG) posted a nice gain of 7.10 points with a high on the day of $560.79, a low of $552.83 with a closing price on the week of $559.93; Baidu.com Incorporated (BIDU) roared higher on the trading day to post a nice gain of 8.07 points with a high on the trading day of $285.00, a low of $278.59 to end the session at $284.15 and Synchronoss Technologies Incorporated (SNCR) moved lower on the day by 10/22% for a loss of 4.46 points with a closing price of $39.20.

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