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Market Commentary for October 26, 2007


The trading day was not nearly as exciting as trading action experienced yesterday however; it was generally a typical trading session for a Friday. The major indices held firmly in the green zone empowered by the Bulls trying to make a statement over yesterday’s losses seen during the trading session. Trading volume was moderate to heavy amidst an over all sluggish trading day. Ahead of the Fed’s meeting next week on Interest Rates, bets are in for a cut, which increased the interest in buying action on the street today.

At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a triple digit gain of 134.78 points on the day to end the session at 13,806.70; the NYSE (New York Stock Exchange) posted a triple digit gain of 159.58 points to end the session at 10,189.13; the NASDAQ posted a gain of 53.33 points for a close at 2,804.19; the S&P 500 moved higher by 20.55 points to end at 1,535.28 and the RUSSELL 2000 moved higher by 15.28 points to close at 821.39. 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 world’s investable market capitalization) posted a gain of 3.86 points to close at 274.84 and the FTSE RAFI 1000 posted a gain of 85.35 points to close at 6,293.20.

University of Michigan End-October Current Index came in at 97.6 as compared to September reading of 97.9; University of Michigan Preliminary October Sentiment was 82.0; University of Michigan End- October Expectations came in at 70.1 as compared to September reading of 74.1; University of Michigan End-October Sentiment came in at 80.9 as compared to September reading of 83.4; University of Michigan 5-Year Inflation Forecast rose 2.8% as compared to September reading of an increase by 2.9% and University of Michigan 12-Month Inflation Forecast rose 3.1% as compared to September reading of an increase by 3.1%.

President George W. Bush comments from today: Urges Congress To Pass Permanent Internet Tax Ban;

Senate Vote On Modified SCHIP Bill A Waste Of Time and "Disappointed" By House Passage Of Revised SCHIP Bill.

Federal Reserve Board Member Frederic S. Mishkin commented today: price stability important in market crises; important to act quickly in financial troubles; only give liquidity to non-excessive risk takers; most financial crisis not tied monetary policy and Fed Actions have improved market conditions.

Commodities Markets
The trend was mostly higher across the board today for the Energy Sector: Light crude moved higher today by $1.40 to close at $91.86 a barrel; Heating Oil closed higher by $0.02 today at $2.45 a gallon; Natural Gas moved lower today by $0.01 to close at $7.81 per million BTU and Unleaded Gas moved higher today by $0.04 to close at $2.27 a gallon.

Metals Market ended the session higher across the board again today: Gold moved sharply higher today by $16.50 to close at $787.50 an ounce; Silver moved higher by $0.38 to close at $14.28 per ounce; Platinum moved nicely higher today by $15.40 to close at $1,469.10 an ounce and Copper closed higher by $0.05 today at $3.54 per pound.

On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs ended the day lower by $0.08 to close at $54.53; Pork Bellies ended the day higher by $3.00 at $83.53; Live Cattle ended the day lower by $1.13 at $95.13 and Feeder Cattle ended the day lower by $1.58 at $108.20.

Other Commodities: Corn moved higher today by $5.75 to close at $372.00 and Soybeans moved higher today by $0.75 to end the session at $1,013.25.

Bonds were mostly lower across the board today: 2 year bond moved lower by 1/32 today to close at 99 22/32; 5 year bond moved lower by 10/32 to close at 99 5/32 today; 10 year bond moved lower by 6/32 today to close at 102 21/32 and the 30 year bond closed higher by 5/32 at 105 5/32 for the day.

The e-mini Dow ended the session today at 13,876 with a gain of 109 points on the trading session. The total Dow Exchange Volume for the day came in at 228,893 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 4,108,941; Open Interest for Futures moved higher by 43,994 points to close at 9,727,670; the Open Interest for Options moved higher by 93,556 points to close at 9,337,778 and the Cleared Only closed higher by 63 points at 10,032 for a total Open Interest on the day of 19,075,480 for a total Change on the day with a gain of 137,487 points.

On the NYSE today, advancers came in at 2,414 decliners totaled 850 unchanged came in at 101; new highs came in at 266 and new lows came in at 88. Gainers and losers for the day as well as active day trading stocks on the NYSE: MEMC Electronic Materials Incorporated (WFR) provided nice day trading activity for the active day trader with a high on the session of $72.17, a low of $65.10 for a gain by 19.87% to tack on 11.78 points on the session for a closing price at the bell of $71.08; Rio Tinto plc (RTP) soared higher on the session for a gain of 16.48 points with a high on the trading session of $369.99, a low of $359.88 for a final trading price of $368.00; DeVry Incorporated (DV) roared higher on the day for a gain of 15.06 points to tack on 37.62% on the day with a high on the session of $55.47, a low of $49.85 with a closing price at the bell of $55.09 and WellCare Health Plans Incorporated (WCG) continued its trend into lower territory today to post a loss of 11.31 points, 26.51% loss in value with a high on the trading day of $44.29, a low of $30.68 with a closing price of $31.36.

On the NASDAQ today, advanced totaled 1,942; decliners totaled 1,052; unchanged came in at 104; new highs came in at 127 and new lows came in at 132. Gainers and losers for the day as well as, active day trading stocks on the NASDAQ: Deckers Outdoor Corporation (DECK) rocketed higher on the day with a hefty gain of 31.11 points to tack on 27.51% with a high on the trading day of $144.75, a low of $131.23 for a closing price just off the high of $144.20; Varian Semiconductor Equipment Associates Incorporated (VSEA) moved sharply lower on the session with a loss of 4.53 points with a high on the day of $48.48, a low of $41.50 for a closing price at the bell of $43.07; ScanSource Incorporated (SCSC) bolted higher on the session to post a gain of 6.24 points to tack on 20.16% gain in value with a high on the day of $39.50, a low of $34.83 with a final trading price at $37.19; VistaPrint Limited (VPRT) roared higher on the day with a gain of 6.78 points to tack on a value of 17.27% with a high on the day of $47.93, a low of $44.00 with a closing price at $46.05; MICROS Systems Incorporated (MCRS) moved higher on the day with a gain of 8.98 points to tack on 14.49% on the day with a high of $73.69, a low of $66.54 for a closing price at $70.96; Trident Microsystems Incorporated (TRID) plummeted on the trading day with a loss of 5.06 points to shed a whopping value of 41.0144 with a closing price at $7.15 and Ladish Company Incorporated (LDSH) moved sharply lower on the day to post a loss of 8.30 points to shed 14.71% with a high on the day of $49.98, a low of $40.69 with a closing price at the bell of $48.12.

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