No registration required! (Why?)

Market Commentary for October 12, 2007


The Bulls stomped forward to take over the market trend today with the major indices holding in positive range through out the trading session. Trading activity was actually, rather quiet with tight trading ranges through out most of the day. Day traders felt the sluggish activity that only increased, during the late afternoon session.

At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a gain of 77.96 points on the day to end the session at 14,093.08 the NYSE (New York Stock Exchange) posted a gain of 56.24 points to end the session at 10,301.49; the NASDAQ posted a gain of 33.48 points for a close at 2,805.68; the S&P 500 moved higher by 7.39 points to end at 1,561.80 and the RUSSELL 2000 moved higher by 6.19 points to close at 841.17. 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 0.08 points to close at 276.39 and the FTSE RAFI 1000 posted a gain of 31.86 points to close at 6,427.64.

U.S. September Producer Prices rose by 1.1% compared to consensus of an increase by 0.5%; U.S. September PPI Ex-Food & Energy rose by 0.1% compared to consensus of an increase by 0.2%; U.S. September PPI Intermediate Goods rose by 0.4% with Core rising by 0.1%; U.S. September PPI Crude Goods rose by 0.1% with Core rising by 1.6%; U.S. September PPI Energy Prices rose by 4.1%; U.S. September Passenger Car Prices fell by 1.8% and U.S. August PPI Unrevised at a drop by 1.4%.

University of Michigan Mid-October Sentiment came in at 82.0 compared to September reading at 83.4; University of Michigan Mid-October Current Index came in at 98.2 compared to September reading at 97.9; University of Michigan Mid-October Expectations came in at 71.6 compared to September reading at 74.1; University of Michigan 12-Month Inflation Forecast rose by 3.0% compared to September reading at an increase by 3.1% and University of Michigan Read was lowest since August 2006.

U.S. Aug Business Inventories rose by 0.1% compared to expectations of an increase by 0.3%.

U.S. September Retail & Food Sales Excluding Autos rose by 0.4%; U.S. September Retail & Food Sales rose by 0.6% compared to expectations of an increase by 0.3% and August Retail & Food Sales were left unrevised at an increase by 0.3%.

Commodities Markets
The trend was mostly higher across the board today for the Energy Sector: Light crude moved higher today by $0.61 to close at $83.69 a barrel; Heating Oil closed with no change at $2.27 a gallon; Natural Gas moved higher today by $0.10 to close at $6.97 per million BTU and Unleaded Gas moved higher today by $0.02 to close at $2.09 a gallon.

Metals Market ended the session lower across the board today: Gold moved lower today by $2.90 to close at $753.80 an ounce; Silver moved lower by $0.08 to close at $13.90 per ounce; Platinum moved lower today by $6.20 to close at $1,414.20 an ounce and Copper closed lower by $0.02 at $3.65 per pound.

On the Livestock and Meat Markets, the trend was lower across the board today: Lean Hogs ended the day lower by $2.25 to close at $58.28; Pork Bellies ended the day lower by $1.48 at $85.70; Live Cattle ended the day lower by $0.55 at $97.23 and Feeder Cattle ended the day lower by $1.00 at $113.48.

Other Commodities: Corn moved higher today by $7.25 to close at $351.00 and Soybeans moved lower today by $4.75 to end the session at $976.75.

Bonds were mostly lower across the board today: 2 year bond moved lower by 6/32 today to close at 99 18/32; 5 year bond moved lower by 10/32 to close at 99 8/32 today; 10 year bond moved lower by 2 7/32 today to close at 100 16/32 and the 30 year bond closed lower by 17/32 at 101 15/32 for the day.

The e-mini Dow ended the session today at 14,190 with a gain of 104 points on the trading session. The total Dow Exchange Volume for the day came in at 228,944 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 4,090,998; Open Interest for Futures moved higher by 77,542 points to close at 9,362,330; the Open Interest for Options moved higher by 114,500 points to close at 8,414,007 and the Cleared Only closed higher by 180 points at 8,704 for a total Open Interest on the day of 17,785,041 with a total Change on the day with a gain of 192,222 points.

On the NYSE today, advancers came in at 1,936; decliners totaled 1,222; unchanged came in at 127; new highs came in at 361 and new lows came in at 59, same as yesterday. Gainers and losers for the day as well as active day trading stocks on the NYSE: Chipotle Mexican Grill Incorporated (CMG) moved sharply lower on the day with a loss of 6.32 points with a high on the session of $125.79, a low of $113.51 for a final trading price of $122.68; China Digital TV Holding Corporation (STV) bounced higher on the trading day to tack on 6.86 points for a gain of 16.23% with a final trading price of $49.13; China Life Insurance Company Limited (LFC) tacked on 4.46 points for a closing price of $98.89; PetroChina Company Limited (PTR) soared higher by 11.82% for a hefty gain of 22.85 points with a high on the day of $216.49, a low of $206.03 with a closing price near its high at $216.13; Allegheny Technologies Incorporated (ATI) moved lower on the day for a loss of 6.61 points with a high on the session of $100.04, a low of $92.80 with a closing price at the high of $100.04 and W-H Energy Services (WHQ) plummeted on the trading session with a loss of 10.97 points, to shed 15.22% with a high of $64.00, a low of $59.84 for a closing price at $61.10.

On the NASDAQ today, advanced totaled 1,845; decliners totaled 1,120; unchanged came in at 161; new highs came in at 347 and new lows came in at 125. Gainers and losers for the day as well as, active day trading stocks on the NASDAQ: Zions Bancorporation (ZION) fell by 3.10 points for a final trading price of $67.97; Coldwater Creek Incorporated (CWTR) sank by 27.97% for a loss of 3.04 points with a closing price of $7.83; BEA Systems Incorporated (BEAS) moved higher on the session by 38.18% for a gain of 5.20 points for a final trading price of $18.82; Apple Incorporated (AAPL) posted a gain of 5.27 points for a high of $167.28, a low of $161.80 with a closing price at $167.50; Metabolix Incorporated (MBLX) romped higher by 4.48 points to gain 19.98% with a final trading price at $26.90; Baidu.com Incorporated (BIDU) climbed by 13.82 points with a high on the session at $325.90, a low of $294.00 with a closing price of $322.60 and Google Incorporated (GOOG) bolted higher by 16.00 points on the session with a high on the trading day of $638.40, a low of $618.24 for a closing price at the bell of $638.00.

Thanks for reading
Millennium-Traders