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Market Commentary for November 05, 2007


The markets were controlled by the Bears today holding the major indices in negative territory throughout the trading session. During the trading session at one point, the DOW was down over 140 points, raising concerns again as to how low the DOW would dive, again today. The problems with the sub-prime mortgage industry continue to plague banks and consumers. Trading activity was rather awkward today creating a difficult trading atmosphere for day traders. Investors appeared to hover on the sidelines, monitoring the losses appearing on the major indices.

At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a loss of 51.70 points on the day to end the session at 13,543.40; the NYSE (New York Stock Exchange) posted a loss of 93.44 points to end the session at 9,958.82; the NASDAQ posted a loss of 15.20 points for a close at 2,795.3188; the S&P 500 moved lower by 7.48 points to end at 1,502.17 and the RUSSELL 2000 moved lower by 7.34 points to close at 790.44. 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 2.36 points to close at 270.80 and the FTSE RAFI 1000 posted a loss of 37.71 points to close at 6,142.94.

U.S. ISM October Non-Manufacturing Business Index came in at 55.8; U.S. ISM October Non- Manufacturing Business Index was expected to come in at 54.0; U.S. ISM October Non- Manufacturing Business Index came in at 55.8 versus September reading at 54.8; U.S. ISM October Non- Manufacturing Employment Index came in at 51.8 versus September reading at 52.7; U.S. ISM October Non- Manufacturing Prices Index came in at 63.5 versus September reading at 66.1 and U.S. ISM October Non- Manufacturing New Orders Index came in at 55.7 versus September reading at 53.4.

Commodities Markets
The trend was lower across the board today for the Energy Sector: Light crude moved lower today by $1.95 to close at $93.98 a barrel; Heating Oil closed higher by $0.03 today at $2.54 a gallon; Natural Gas moved lower today by $0.42 to close at $8.00 per million BTU and Unleaded Gas moved lower today by $0.06 to close at $2.38 a gallon.

Metals Market ended the session mostly higher across the board again today: Gold moved higher today by $2.30 to close at $810.80 an ounce; Silver moved higher by $0.19 to close at $14.79 per ounce; Platinum moved higher today by $3.80 to close at $1,466.50 an ounce and Copper closed lower by $0.02 today at $3.30 per pound.

On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs ended the day lower by $0.40 to close at $52.03; Pork Bellies ended the day lower by $0.45 at $84.25; Live Cattle ended the day higher by $1.13 at $95.85 and Feeder Cattle ended the day higher by $1.15 at $109.08.

Other Commodities: Corn moved lower today by $1.75 to close at $375.25 and Soybeans moved higher today by $4.25 to end the session at $1,021.00.

Bonds were mostly lower across the board today: 2 year bond closed with no change at 99 28/32; 5 year bond moved lower by 92/32 to close at 99 18/32 today; 10 year bond moved lower by 5/32 today to close at 103 7/32 and the 30 year bond closed lower by 6/32 at 105 28/32 for the day.

The e-mini Dow ended the session today at 13,567 with a loss of 75 points on the trading session. The total Dow Exchange Volume for the day came in at 237,351 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 6,303,721; Open Interest for Futures moved lower by 127,016 points to close at 9,794,304; the Open Interest for Options moved higher by 83,705 points to close at 8,722,774 and the Cleared Only closed higher by 1,750 points at 13,259 for a total Open Interest on the day of 18,530,337 for a total Change on the day with a loss of 41,561 points.

On the NYSE today, advancers came in at 766 decliners totaled 2,508; unchanged came in at 84; new highs came in at 91 and new lows came in at 359. Gainers and losers for the day as well as active day trading stocks on the NYSE: FTSE/Xinhua China 25 (FXI) took a hard tumble on the session with a loss of 18.28 points with a high on the trading day of $195.50, a low of $187.06 for a final trading price at $187.06; PetroChina Company Limited (PTR) latterly tanked today with a heavy loss of 32.96 points to shed 12.92% with a high on the trading day of $231.99, a low of $215.44 with a closing price at $222.10; China Mobile Limited (CHL) moved sharply lower on the day for a loss of 11.11 points to shed 11.21% with a high on the session of $92.00, a low of $86.03 with a final trading price at 488.04 and Goldman Sachs Group Incorporated (GS) moved sharply lower again on the session to post a loss of $11.21 points with a high on the day at $224.90, a low of $212.80 for a closing price at $218.39.

On the NASDAQ today, advanced totaled 973; decliners totaled 2,044; unchanged came in at 114; new highs came in at 58 and new lows came in at 325. Gainers and losers for the day as well as, active day trading stocks on the NASDAQ: Alfa Corporation (ALFA) posted a favorable gain of 3.99 points to tack on a strong gain of 22.77% for a closing price of $21.51; Multi-Fineline Electronix Incorporated (MFLX) bolted higher on the day for a gain of 20.76% to tack on 3.06 points for a closing price at $17.80; Vertex Pharmaceuticals Incorporated (VRTX) fell sharply lower on the day to post a loss of 16.68% to shed 4.82 points with a high on the day of $26.00, a low of $22.02 for a closing price at $24.08; Crocs Incorporated (CROX) moved sharply lower on the day to post a loss of 12.77% to shed 6.07 points with a high on the session of $46.49, a low of $40.04 with a closing price of $41.45; Google Incorporated (GOOG) soared higher on the session with a gain of 14.40 points for a high on the day of $730.23, a low of $706.07 with a final trading price at $725.65 and Baidu.com Incorporated (BIDU) bolted higher on the day with a gain of 7.88 points with a high on the day of $421.30, a low of $399.56 to end the day at $416.88.

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Millennium-Traders