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Market Commentary for November 29, 2007


Trading activity was all over the board during today’s trading session. Both the Bulls and the Bears had their hands in the market activity today with the Bulls mostly in control at the closing bell. Trading activity was light throughout the trading session possibly due to the whipotile trading activity.

At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) posted a gain of 5.22 points on the day to end the session at 13,311.73; the NYSE (New York Stock Exchange) posted a loss of 17.48 points to end the session at 9,773.53; the NASDAQ posted a gain of 5.22 points for a close at 2,668.13; the S&P 500 moved higher by 0.70 points to end at 1,469.72 and the RUSSELL 2000 moved lower by 3.98 points to close at 766.06. 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 0.77 points to close at 265.01 and the FTSE RAFI 1000 posted a gain of 1561.01 points to close at 5,993.18.

U.S. October New Home Sales rose 1.7% to 728,000 compared to consensus of 750,000 and U.S. September New Home Sales were revised to 716,000 from 770,000.

U.S. Jobless Claims rose 23K to 352k for week of November 24 compared to expectations of unchanged; U.S. Continuing Claims for week of November 17 rose 112K to 2,665,000; U.S. Jobless Claims at highest level since February 2007 and U.S. Continuing Claims at highest level since December 2005.

U.S. Third Quarter GDP was revised to an increase of a rate of 4.9% from increase at rate of 3.9%; US Third Quarter GDP consensus rose at a rate of 4.9% and Third Quarter Real Final Sales revised to an increase by rate of 3.9% rate from an increase by rate of 3.5%.

Third Quarter PCE Price Index remained unchanged at an increase by 1.7%; Third Quarter Purchases Price Index unchanged at an increase of 1.6%; Third Quarter Chain-Weighted Price Index revised to an increase at rate of 0.9% from an increase of 0.8% and Third Quarter Corporate Profits unchanged versus increase by 5.2% in Second Quarter.

U.S. Conference Board October Help-Wanted Index came in at 23 versus reading of 24 in September. In a news release, U.S. Conference Board said that in the last three months, help-wanted advertising fell in all nine U.S. regions led by an 18% drop in the Pacific and a 14.7% decline in the West North Central region. "The slump in home buying and building, higher gas prices, higher grocery prices and credit availability questions are combining to slow the economy," Conference Board Economist Ken Goldstein said. The Conference Board survey tracks help-wanted advertising volume in 51 major U.S. newspapers monthly. The volume of newspaper want ads is one indication of demand for labor, although many employers also now advertise for help through on-line services.

Commodities Markets
The trend was mixed across the board today for the Energy Sector: Light crude moved higher today by $0.39 to close at $91.01 a barrel; Heating Oil closed with no change at $2.58 a gallon; Natural Gas moved lower today by $0.03 to close at $7.45 per million BTU and Unleaded Gas moved lower today by $0.01 to close at $2.26 a gallon.

Metals Market ended the session mixed across the board today: Gold moved lower today by $5.00 to close at $802.30 a Troy ounce; Silver moved lower by $0.09 today to close at $14.45 per Troy ounce; Platinum moved higher today by $1.20 to close at $1,439.50 per Troy ounce and Copper moved higher by $0.06 to close at $3.09 per pound.

On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs ended the day higher by $0.03 to close at $62.85; Pork Bellies ended the day lower by $0.28 at $91.20; Live Cattle ended the day lower by $0.10 at $96.65 and Feeder Cattle ended the day lower by $0.50 at $109.08.

Other Commodities: Corn moved lower today by $3.75 to close at $400.75 and Soybeans moved higher today by $1.25 to end the session at $1,098.00.

Bonds were higher across the board today: 2 year bond moved higher by 6/32 to close at 100 4/32; 5 year bond moved higher by 13/32 to close at 102 2/32 today; 10 year bond moved higher by 25/32 at 102 16/32 and the 30 year bond closed higher by 1 11/32 at 110 24/32 for the day.

The e-mini Dow ended the session today at 13,322 with a gain of 15 points on the trading session. The total Dow Exchange Volume for the day came in at 230,061 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 8,477,006; Open Interest for Futures moved lower by 130,227 points to close at 10,192,754; the Open Interest for Options moved higher by 199,050 points to close at 6,341,145 and the Cleared Only moved higher by 141 points to close at 15,520 for a total Open Interest on the day of 16,549,419 for a total Change on the day with a gain of 68,964 points.

On the NYSE today, advancers came in at 1,838; decliners totaled 1,838; unchanged came in at 80; new highs came in at 57 and new lows came in at 120. Active trading stocks on the Big Board today: Rio Tinto plc (RTP) moved higher on the trading session with a gain of 12.30 points with a high on the session of $470.38, a low of $445.18 for a closing price at the bell of $461.00; The Cato Corporation (CTR) moved sharply lower with a loss of 4.77 points to shed 24.27% on the session with a high on the day of $17.55, a low of $14.45 for a final trading price at $14.88; Aeropostale Incorporated (ARO) took a hit on the trading day for a loss of 3.53 points to shed 12.60% with a final trading price at 424.48; Alliance Data Systems Corporation (ADS) was very active on the session with a high on the day of $78.10, a low of $63.65 for a final trading price of $77.50; Atwood Oceanics Incorporated (ATW) bolted higher on the session to post a gain of 9.11 points to tack on 12.16% with a high on the session of $84.63, a low of $77.00 for a final trading price at $84.01; Jo-Ann Stores Incorporated (JAS) moved sharply lower for a loss on the day of 4.06 points with a high on the session of $19.89, a low of $16.38 to close the session at 416.54 and Petroleo Brasileiro S.A. (PBR) continued its trend as an interesting day trading stock with a high on the session of $99.75, low of $95.17 with a loss on the session of 2.19 points to close the session at $96.55.

On the NASDAQ today, advanced totaled 1,354; decliners totaled 1,647; unchanged came in at 120; new highs came in at 53 and new lows came in at 118. Active trading stocks for the day consisted of: Sigma Designs Incorporated (SIGM) bolted higher on the day for a gain of 6.29 points to tack on a gain of 10.64%with a high on the session of $69.08, a low of $63.25 to close the session at $65.43; Axcan Pharma Incorporated (AXCA) posted a gain of 4.50 points on the day to tack on 24.73% with a closing price at $22.70; Zoltek Companies Incorporated (ZOLT) moved nicely higher for a gain on the day of 7.19 points on the day to tack on 19.07% with a high of $45.65, a low of $39.35 for a closing price at $44.89; Sears Holding Corporation (SHLD) moved sharply lower to post a loss of 12.25 points on the day to shed 10.53% with a high on the session of $104.27, a low of $98.25 to close the day at $104.09 and First Solar Incorporated (FSLR) soared higher on the day with a hefty gain of 22.30 points with a high on the session of $239.39, a low of $215.06 for a final trading price at $238.18.

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