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Market Commentary for December 21, 2007


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 209.97 points on the day to end the session at 13,455.61; the NYSE (New York Stock Exchange) posted a triple digit gain of 165.66 points to end the session at 9,787.93; the NASDAQ posted a gain of 51.13 points for a close at 2,691.99; the S&P 500 moved higher by 23.38 points to end at 1,483.50 and the RUSSELL 2000 moved higher by 15.71 points to close at 783.25. 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 3.70 points to close at 261.50 and the FTSE RAFI 1000 posted a gain of 84.40 points to close at 6,025.37.

On the NYSE today, advancers came in at 2,357; decliners totaled 863; unchanged came in at 84; new highs came in at 108 and new lows came in at 193.
Momentum stocks traded by active day traders on the NYSE today: Circuit City Stores Incorporated (CC) shed 1.91 points with a high on the day of $5.61, a low of $4.75 for a closing price at $4.75; LDK Solar Corporation Limited (LDK) shed 2.72 points with a high on the day of $49.75, a low of $43.80 for a closing price at $45.13; Petroleo Brasileiro S.A. (PBR) gained 5.20 points with a high on the day of $113.48, a low of $111.06 for a closing price at $113.20; Rio Tinto plc (RTP) gained 15.67 points with a high on the day of $425.27, a low of $414.18 for a closing price at $420.33; CME Group Incorporated (CME) gained 9.75 points with a high on the day of $710.75, a low of $696.75 for a closing price at $710.75; Air Products & Chemicals Incorporated (APD) gained 2.72 points with a high on the day of $101.40, a low of $98.88 for a closing price at $100.82; Jabil Circuit Incorporated (JBL) shed 3.99 points with a high on the day of $16.72, a low of $14.35 for a closing price at $14.43; The First Marblehead Corporation (FMD) gained 7.46 points with a high on the day of $19.95, a low of $15.00 for a closing price at $18.70; SLM Corporation (SLM) shed 0.68 points with a high on the day of $21.09, a low of $18.68 for a closing price at $19.85; Goldman Sachs Group Incorporated (GS) gained 6.93 points with a high on the day of $210.25, a low of $205.02 for a closing price at $209.60; United Technologies Corporation (UTX) gained 1.43 points with a high on the day of $78.00, a low of $76.59 for a closing price at $77.83; NETSUITE Incorporate (N) gained 3.30 points with a high on the day of $45.97, a low of $36.32 for a closing price at $38.80 and ResMed Incorporated (RMD) gained 6.10 points with a high on the day of $54.58, a low of $50.11 for a closing price at $53.09.

On the NASDAQ today, advanced totaled 2,092; decliners totaled 941; unchanged came in at 114; new highs came in at 114 and new lows came in at 194.

Momentum stocks on the NASDAQ today: Millicom International Cellular Corporation (MICC) gained 11.54 points with a high on the day of $122.75, a low of $112.13 for a closing price at $122.75; Palomar Medical Technologies Corporation (PMTI) shed 0.86 points with a high on the day of $20.01, a low of $16.82 for a closing price at $18.77; Research In Motion Limited Corporation (RIMM) gained 11.66 points with a high on the day of $122.16, a low of $116.37 for a closing price at $118.65; Itron Incorporation (ITRI) gained 8.21 points with a high on the day of $98.75, a low of $88.25 for a closing price at $93.36; Equinix Incorporated (EQIX) gained 3.91 points with a high on the day of $104.83, a low of $99.67 for a closing price at $101.79; Bucyrus International Incorporated (BUCY) gained 4.80 points with a high on the day of $104.08, a low of $97.56 for a closing price at $102.00; First Solar Incorporated (FSLR) gained 21.90 points with a high on the day of $268.16, a low of $248.00 for a closing price at $267.50 and Celgene Corporation (CELG) shed 1.87 points with a high on the day of $50.00, a low of $45.20 for a closing price at $47.61.

October Spending revised to an increase of 0.4% from increase of 0.2%; October Personal Income unrevised at an increase of 0.2%; November PCE Core Price Index rose at rate of 0.2% on the month; November PCE Core Price Index rose at rate of 2.2% on the year; November PCE Price Index rose at rate of 0.6% Rate on the month; November PCE Price Index rose at rate of 3.6% on the year; U.S. Personal Income rose by 0.4% In November compared to consensus of an increase by 0.5% and U.S. Personal Spending rose by 1.1% in November; compared to consensus of an increase by 0.9%.

University of Michigan 5-year Inflation Forecast rose 5.1% compared to November +2.9%; University of Michigan 12-month Inflation Forecast came in at 3.4 % compared to November +3.4%; University of Michigan Preliminary December Sentiment was 74.5; University of Michigan End- December Expectations came in at 65.6 compared to November 66.2; University of Michigan End- December Current Index came in at 91.0 compared to November 91.5 and University of Michigan End- December Sentiment came in at 75.5 compared to November 76.1.

Fed to Announce Sizes of January 14 and January 28 Sales on January 4; Fed Intends to Conduct TAF Auctions Long as Needed; Fed Receives $57.66B in Offers for Term Auction Facility; Fed Term Auction Facility Awarded at Stop-Out Rate of 4.67% and Fed Awards $20 Billion 35-Day Credit through Term Auction Facility.

Canada Retail Sales Excluding Autos 0.0% change in October from September; Canada Retail Sales rose 0.1% in October from September and Canada October GDP rose 0.2% from September.

OPEC Secretary General comments today: says Slowing World Economy a Challenge; high prices temporary, not tied to fundamentals; economic slowdown could affect China, others; sees world economic recovery in 2009 or 2010; economic slowdown don't affect oil demand much; says economic slowdown won't turn into crash and OPEC must live with price volatility for now.

Commodities Markets
The trend was higher across the board today for the Energy Sector: Light crude moved higher today by $2.25 to close at $93.31 a barrel; Heating Oil moved higher today by $0.02 to close at $2.61 a gallon; Natural Gas moved higher today by $0.04 to close at $7.31 per million BTU and Unleaded Gas moved higher today by $0.05 to close at $2.38 a gallon.

Metals Market ended the session higher across the board today: Gold moved higher today by $12.20 to close at $815.40 a Troy ounce; Silver moved higher today by $0.15 to close at $14.49 per Troy ounce; Platinum moved higher today by $18.50 to close at $1,536.30 per Troy ounce and Copper moved higher today by $0.13 to close at $3.10 per pound.

On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs ended the day lower by $0.18 to close at $59.73; Pork Bellies ended the day higher by $0.48 at $86.98; Live Cattle ended the day lower by $0.18 at $95.53 and Feeder Cattle ended the day lower by $0.68 at $106.28.

Other Commodities: Corn ended the day higher by $6.00 at $443.50 and Soybeans moved higher today by $16.25 to end the session at $1,196.00.

Bonds were lower across the board today: 2 year bond moved lower by 5/32 to close at 99 28/32; 5 year bond moved lower by 19/32 to close at 99 2/32 today; 10 year bond moved lower by 31/32 to close at 100 20/32 and the 30 year bond moved lower by 1 23/32 to close at 106 23/32 on the day.

The e-mini Dow ended the session today at 13,535 with a gain of 185 points on the trading session. The total Dow Exchange Volume for the day came in at 156,602 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 3,087,040; Open Interest for Futures moved lower by 12,648 points to close at 9,568,550; the Open Interest for Options moved higher by 107,388 points to close at 7,465,164 and the Cleared Only closed higher by 573 points to close at 19,903 for a total Open Interest on the day of 17,053,617 for a total Change on the day with a gain of 95,313 points.

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Millennium-Traders