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Market Commentary for October 08, 2007


The markets were plagued today by a very quiet, slow motion, low trading volume session. Trading ranges were snug creating a dismal trading atmosphere for day traders. It was a battle between the Bulls and Bears today with the Bears holding the majority, at the closing bell. The almost listless trading activity was attributed to a combination of the Columbus Day holiday with the Bond Market closed enveloping many traders who opted to take the day off as well; day ahead of the FOMC Minutes to be released tomorrow plus, possibly the unusually warm weather taunted traders out doors to bask in the potential final days of sunshine.

At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a loss of 91.70 points on the day to end the session at 14,043.73; the NYSE (New York Stock Exchange) posted a loss of 61.50 points to end the session at 10,186.43; the NASDAQ posted a gain of 7.05 points for a close at 2,787.37; the S&P 500 moved higher with a loss of 5.01 points to end at 1,552.58 and the RUSSELL 2000 moved lower by 4.74 points to close at 840.14. 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 1.14 points to close at 272.75 and the FTSE RAFI 1000 posted a loss of 25.13 points to close at 6,378.73.

Commodities Markets
The trend was lower across the board today for the Energy Sector: Light crude moved lower today by $2.20 to close at $79.02 a barrel; Heating Oil moved lower today by $0.06 to close at $2.16 a gallon; Natural Gas moved lower today by $0.23 to close at $6.85 per million BTU and Unleaded Gas moved lower today by $0.05 to close at $2.00 a gallon.

Metals Market ended the session lower across the board today: Gold moved sharply lower today by $8.50 to close at $738.70 an ounce; Silver moved lower by $0.13 to close at $13.36 per ounce; Platinum moved sharply lower today by $14.60 to close at $1,373.20 an ounce and Copper closed lower by $0.11 at $3.61 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 $59.48; Pork Bellies ended the day lower by $0.43 at $87.00; Live Cattle ended the day higher by $0.13 at $96.25 and Feeder Cattle ended the day higher by $0.40 at $113.90.

Other Commodities: Corn had moved lower today by $2.50 to close at $342.25 and Soybeans moved sharply lower today with a loss of $15.00 to end the session at $925.50.

The e-mini Dow ended the session today at 14,115 with a loss of 44 points on the trading session. The total Dow Exchange Volume for the day came in at 144,707 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.

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 3,929,482; Open Interest for Futures moved higher by 142,292 points to close at 9,251,976; the Open Interest for Options moved higher by 117,226 points to close at 8,194,356 and the Cleared Only closed lower by 96 points to close at 8,329 for a total Open Interest on the day of 17,454,661 with a total Change on the day with a gain of 259,422 points.

On the NYSE today, advancers came in at 1,129; decliners totaled 2,051; unchanged came in at 100; new highs came in at 247 and new lows came in at 31, same as yesterday. Gainers and losers for the day as well as active day trading stocks on the NYSE: Rio Tinto plc (RTP)moved lower on the session for a loss of 8.49 points with a high on the day of $342.70, a low of $337.89 with a closing price of $340.06; LDK Solar Corporation Limited (LDK) plummeted lower on the session with a heavy loss of 13.45 points to shed 26.40% of its value with a high on the day of $45.17, a low of $37.26 for a final trading price at the closing bell of $37.50; PetroChina Company Limited (PTR) moved sharply lower on the session with a loss of 9.21 points with a final trading price of $181.62 and CME Group Incorporated (CME) posted a loss today of 4.15 points amidst active day trading action with a high on the session of $631.50, a low of $617.33 to end the session at $625.00.

On the NASDAQ today, advanced totaled 1,255; decliners totaled 1,682; unchanged came in at 164; new highs came in at 282 and new lows came in at 75. Gainers and losers for the day as well as, active day trading stocks on the NASDAQ: China Natural Resources Incorporated (CHNR) posted a sharp loss on the day by 4.29 points to shed 10.79% in value with a closing price of $35.46; Noven Pharmaceuticals Incorporated (NOVN) took a hard hit today with a loss of 21.81% to shed 3.64 points for a closing price of $13.05; Research In Motion Limited (RIMM) moved higher today by 4.13 points with a close at $117.50; Apple Incorporated (AAPL) climbed higher on the session by 6.02 points for a close at the bell of $167.47; China Natural Resources Incorporated (CHNR) fell today by 4.01 points for an ending price of $35.74; Google Incorporated (GOOG) romped higher on the day with a gain of 15.66 points with a high on the day of $610.26, a low of $593.95 with a closing price of $609.71 and Business Objects (BOBJ) bolted higher by 15.04 % to tack on 7.56 points with a closing price at $57.83.

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Millennium-Traders