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Market Commentary for September 24, 2007


The trading session was a flop from the Bulls during the morning session and the Bears took control during the afternoon session to move the major indices lower, into the close. Possible profit taking moved the markets into the red zone amidst moderate trading volume as we start the beginning of the final trading week of September. Trading action was subdued through out the session as day traders and investors take a slight breather from the trading activity experienced, last week. Economic data scheduled for release tomorrow may have an impact on overall market direction.

At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a loss of 61.13 points on the day to end the session at 13,759.06; the NYSE (New York Stock Exchange) posted a loss of 35.41 points to end the session at 9,946.42; the NASDAQ posted a loss of 3.27 points for a close at 2,667.95; the S&P 500 moved lower with a loss of 8.02 points to end at 1,517.73 and the RUSSELL 2000 moved lower by 7.31 points to close at 805.80. 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 loss of 0.07 points to close at 264.62 and the FTSE RAFI 1000 posted a loss of 35.74 points to close at 6,242.52.

Economic Data: N/A

Commodities Markets
The trend was mostly lower across the board again today for the Energy Sector: Light crude moved lower today by $0.67 to close at $80.95 a barrel; Heating Oil moved lower today by $0.02 to close at $2.25 a gallon; Natural Gas moved higher again today by $0.18 to close at $7.17 per million BTU and Unleaded Gas moved lower today by $0.03 to close at $2.08 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 13,857 with a loss of 39 points on the trading session. The total Dow Exchange Volume for the day came in at 103,459 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 again today: 2 year bond closed with no change at 99 29/32; 5 year bond closed lower by 2/32 at 99 6/32; 10 year bond moved lower by 2/32 today to close at 100 29/32 and the 30 year bond moved higher by 3/32 to close at 101 26/32 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 3,805,779; Open Interest for Futures moved lower by 148,540 points to close at 8,829,506; the Open Interest for Options moved lower by 552,715 points to close at 7,274,723 and the Cleared Only closed higher by 60 points at 8,326 for a total Open Interest on the day of 16,112,555 with a total Change on the day with a loss of 701,195 points.

On the NYSE today, advancers came in at 1,255; decliners totaled 1,962; unchanged came in at 94; new highs came in at 142 and new lows came in at 56. Gainers and losers for the day as well as active day trading stocks on the NYSE: Harman International Industries (HAR) was a loser again on the trading session with heavy losses posted during the pre-market session. High on the session was $83.04, low was $78.00 with a loss on the day of 4.69 points for a final closing price of $80.31; Rio Tinto plc (RTP) rallied higher on the session to post a sharp gain of 14.25 points with a high of $346.12, a low of $336.80 for a closing price on the day of $342.84; China Eastern Airlines Corporation Limited (CEA) plummeted on the Big Board today for a heavy loss of 23.50 points with a loss of 17.93% on the session with a high on the day of $120.00, a low of $107.00 for a final trading price of $108.00 and China Southern Airlines Company Limited (ZNH) took a heavy hit on the trading day for a loss of 11.86% to shed 10.77 points with a high on the day of $84.42, a low of $77.76 to close the session at $80.06.

On the NASDAQ today, advanced totaled 1,161; decliners totaled 1,860; unchanged came in at 128; new highs came in at 112 and new lows came in at 60. Gainers and losers for the day as well as, active day trading stocks on the NASDAQ: Apple Incorporated (AAPL) moved higher on the trading day for a gain of 3.35 points with a closing price on the day of $148.28; China Natural Resources Incorporated (CHNR) posted a sharp gain on the day of 47.99% to tack on 4.89 points with a high on the day of $14.57, a low of $10.23 for a final trading price of $15.08; ADTRAN Incorporated (ADTN) moved sharply lower on the trading day to post a loss of 3.57 points to shed 13.52% for a closing price of $22.84; Baidu.com Incorporated (BIDU) continued its rally into yet higher ground today with a nice gain of 16.80 points with a higher on the session of $303.70, a low of $288.60 for a final trading price of $301.40 and Google Incorporated (GOOG) moved yet higher on the day to post a gain of 4.90 points with a high on the day of $571.46, a low of $560.00 to close at $565.00.

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Millennium-Traders