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Market Commentary for November 06, 2007


Trading activity was much more day trader friendly today. Volatility was wider today amidst heavier trading volume. The markets gave way to trading action with both the Bears and the Bulls sharing market direction with the Bulls maintaining control into the close with the major indices positive into the closing bell. Crude Oil moved over $97 a barrel today and we can anticipate word over the next few days, how the soaring price will affect consumers and the markets.

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 117.54 points on the day to end the session at 13,660.94; the NYSE (New York Stock Exchange) posted a triple digit gain of 143.59 points to end the session at 10,102.41; the NASDAQ posted a gain of 30.00 points for a close at 2,825.18; the S&P 500 moved higher by 18.10 points to end at 1,520.27 and the RUSSELL 2000 moved higher by 11.34 points to close at 801.77. 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 2.66 points to close at 273.73 and the FTSE RAFI 1000 posted a gain of 64.51 points to close at 6,207.45.

Commodities Markets
The trend was mostly higher across the board today for the Energy Sector: Light crude moved higher today by $2.72 to close at $96.70 a barrel; Heating Oil closed higher by $0.06 today at $2.61 a gallon; Natural Gas moved lower today by $0.14 to close at $7.86 per million BTU and Unleaded Gas moved higher today by $0.05 to close at $2.44 a gallon.

Metals Market ended the session higher across the board today: Gold moved sharply higher today by $13.00 to close at $823.80 an ounce; Silver moved higher by $0.60 to close at $15.38 per ounce; Platinum moved sharply higher today by $17.20 to close at $1,483.70 an ounce and Copper closed higher by $0.04 today at $3.34 per pound.

On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs ended the day lower by $0.90 to close at $51.13; Pork Bellies ended the day higher by $0.95 at $85.20; Live Cattle ended the day lower by $0.10 at $95.75 and Feeder Cattle ended the day lower by $1.00 at $108.08.

Other Commodities: Corn moved sharply higher today by $10.50 to close at $385.75 and Soybeans moved sharply higher today by $23.50 to end the session at $1,045.50.

Bonds were lower across the board today: 2 year bond moved lower by 1/32 to close at 99 27/32; 5 year bond moved lower by 3/32 to close at 99 15/32 today; 10 year bond moved lower by 9/32 today to close at 102 30/32 and the 30 year bond closed lower by 20/32 at 105 8/32 for the day.

The e-mini Dow ended the session today at 13,674 with a gain of 119 points on the trading session. The total Dow Exchange Volume for the day came in at 222,668 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 3,671,736; Open Interest for Futures moved higher by 31,547 points to close at 9,825,851; the Open Interest for Options moved higher by 127,857 points to close at 8,850,631 and the Cleared Only closed higher by 182 points at 13,441 for a total Open Interest on the day of 18,689,923 for a total Change on the day with a gain of 159,586 points.

On the NYSE today, advancers came in at 2,070 decliners totaled 1,201; unchanged came in at 99; new highs came in at 152 and new lows came in at 29. Gainers and losers for the day as well as active day trading stocks on the NYSE: CME Group (CME) soared higher on the session to post a gain of 16.35 points with a high on the day at $670.57, a low on the day of $642.66 with a final trading price on the Big Board of $669.10; FTSE/Xinhua China 25 (FXI) moved nicely higher on the day to post a gain of 8.44 points with a high on the day of $199.18, a low on the day of $192.19 for a closing price at $198.25; MasterCard Incorporated (MA) bolted higher on the trading session for a gain of 13.47 points with a high on the session of $203.00, a low of $189.32 for a closing price of $199.40; Suntech Power Holdings Corporation Limited (STP) posted a nice gain on the session of 7.70 points to tack on 13.56% in gains with a high on the day of $65.45, a low of $58.00 to end the trading day at $64.50; Bristow Group Incorporated (BRS) tacked on 7.45 points to gain 15.14% with a high on the session of $57.00, a low on the day of $51.74 with a closing price at $56.66; PetroChina Company Limited (PTR) climbed higher on the session with a gain of 7.32 points with a high on the day of $229.42, a low of $220.66 to close the trading day at $229.42 and Charles River Laboratories (CRL) posted a favorable gain of 5.60 points with a high of $63.08, a low of $59.79 for a final trading price at $62.72.

On the NASDAQ today, advanced totaled 1,723; decliners totaled 1,293; unchanged came in at 113; new highs came in at 99 and new lows came in at 296. Gainers and losers for the day as well as, active day trading stocks on the NASDAQ: First Solar Incorporated (FSLR) rocketed higher on the session with a gain of 20.90 points to tack on 14.11% with a high on the trading day of $170.22, a low of $163.46 with a final trading price of $169.00; Cognizant Technology Solutions Corporation (CTSH) tumbled lower on the trading session with a loss of 7.61 points to shed 19.21% with a final trading price of $32.00; DivX Incorporated (DIVX) moved higher on the session to post a gain of 32.64% to tack on 3.91 points to end the session at $15.89; SunPower Corporation (SPWR) soared higher on the day to post a hefty gain of 20.33 points to climb higher by 15.73% with a high on the day of $152.62, a low of $135.24 to close the day at $149.56; Baidu.com Incorporated (BIDU) provided very nice day trading action on the day with a high on the day of $429.19, a low of $392.60 with a loss of 9.18 points with a closing price of $407.70 and Google Incorporated (GOOG) tacked on 16.14 points with a high on the day of $741.79, a low of $725.00 with a final trading price at $741.79.

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Millennium-Traders