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Market Commentary for January 23, 2008


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 298.98 points on the day to end the session at 12,270.1; the NYSE (New York Stock Exchange) posted a triple digit gain of 144.52 points to end the session at 8,805.69; the NASDAQ posted a gain of 24.14 points for a close at 2,316.41; the S&P 500 posted a gain of 28.10 points for a close at 1,338.61 and the RUSSELL 2000 moved higher by 21.86 points to close at 693.43. 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 0.15 points to close at 231.24 and the FTSE RAFI 1000 posted a triple digit gain of 134.26 points to close at 5,479.23.

On the NYSE today, advancers came in at 2,308; decliners totaled 898; unchanged came in at 53; new highs came in at 19 and new lows came in at 329.

Momentum stocks traded by active Day Traders on the NYSE today: Petroleo Brasileiro (PBR) gained 1.76 points with a high on the day of $98.86, a low of $89.79 for a closing price at $98.34; Rio Tinto plc (RTP) gained 13.43 points with a high on the day of $345.00, a low of $315.73 for a closing price at $344.74; CME Group Incorporated (CME) gained 28.99 points with a high on the day of $613.81, a low of $565.00 for a closing price at $609.99; Transocean, Incorporated (RIG) gained 1.18 points with a high on the day of $125.35, a low of $111.34 for a closing price at $125.34; CNH Global NV (CNH) shed 9.64 points with a high on the day of $53.75, a low of $42.40 for a closing price at $50.00; Schlumberger Limited (SLB) gained 3.25 points with a high on the day of $80.44, a low of $72.68 for a closing price at $80.34; Freeport-McMoRan Copper & Gold Incorporated (FCX) shed 4.22 points with a high on the day of $77.69, a low of $68.96 for a closing price at $77.30; Uniao de Bancos Brasileiros S.A. (Unibanco) (UBB) shed 0.30 points with a high on the day of $123.73, a low of $113.42 for a closing price at $122.04; Motorola Incorporated (MOT) shed 2.22 points with a high on the day of $10.67, a low of $9.43 for a closing price at $10.10; SLM Corp (SLM) shed 0.33 points with a high on the day of $19.12, a low of $16.19 for a closing price at $18.69; M&T Bank Corp (MTB) gained 8.38 points with a high on the day of $84.71, a low of $73.79 for a closing price at $84.65; Avalonbay Communities Incorporated (AVB) gained 9.08 points with a high on the day of $95.83, a low of $82.49 for a closing price at $95.46; Greenhill & Co Incorporated (GHL) gained 4.95 points with a high on the day of $58.00, a low of $52.00 for a closing price at $57.93; Potash Corp. of Saskatchewan, Incorporated (POT) shed 1.63 points with a high on the day of $122.14, a low of $105.52 for a closing price at $120.99; Diamond Offshore Drilling Incorporated (DO) gained 0.42 points with a high on the day of $113.53, a low of $102.89 for a closing price at $113.20; Mosaic Co (MOS) gained 0.71 points with a high on the day of $83.43, a low of $71.02 for a closing price at $81.00; New Oriental Education & Technology Group (EDU) shed 1.90 points with a high on the day of $51.80, a low of $45.31 for a closing price at $50.50; Cleveland-Cliffs Incorporated (CLF) shed 7.62 points with a high on the day of $90.14, a low of $77.25 for a closing price at $83.44; Mastercard Incorporated (MA) gained 10.42 points with a high on the day of $195.27, a low of $170.43 for a closing price at $192.59; LandAmerica Financial Group Incorporated (LFG) gained 4.57 points with a high on the day of $35.72, a low of $27.50 for a closing price at $33.06; Triumph Group Incorporated (TGI) shed 4.68 points with a high on the day of $58.32, a low of $51.27 for a closing price at $53.12.

On the NASDAQ today, advanced totaled 1,786; decliners totaled 1,255; unchanged came in at 94; new highs came in at 8 and new lows came in at 442.

Momentum stocks traded by active Day Traders on the NASDAQ today: Apple Incorporated (AAPL) shed 16.57 points with a high on the day of $140.00, a low of $126.14 for a closing price at $139.07; Baidu.com Incorporated (BIDU) shed 3.07 points with a high on the day of $272.04, a low of $237.01 for a closing price at $270.20; Google Incorporated (GOOG) shed 35.73 points with a high on the day of $568.00, a low of $519.00 for a closing price at $548.62; Garmin Limited (GRMN) gained 5.24 points with a high on the day of $65.42, a low of $56.87 for a closing price at $64.60; Research In Motion Limited (RIMM) shed 2.08 points with a high on the day of $88.65, a low of $80.61 for a closing price at $88.00; First Solar Incorporated (FSLR) shed 18.04 points with a high on the day of $179.14, a low of $143.31 for a closing price at $164.74; SunPower Corporation (SPWR) shed 3.67 points with a high on the day of $76.42, a low of $65.06 for a closing price at $74.25; UMB Financial Corporation (UMBF) gained 2.35 points with a high on the day of $44.50, a low of $37.21 for a closing price at $40.56.

Commodities Markets
The trend was lower across the board today for the Energy Sector: Light crude moved lower today by $2.22 to close at $86.99 a barrel; Heating Oil moved lower today by $0.05 to close at $2.41 a gallon; Natural Gas moved lower today by $0.07 to close at $7.58 per million BTU and Unleaded Gas moved lower today by $0.03 to close at $2.25 a gallon.

Metals Markets ended the session mostly lower across the board today: Gold moved lower today by $7.20 to close at $883.10 a Troy ounce; Silver moved lower today by $0.14 to close at $15.97 per Troy ounce; Platinum moved higher today by $0.50 to close at $1,559.10 per Troy ounce and Copper moved lower by $0.12 today to close at $3.07 per pound.

On the Livestock and Meat Markets, the trend was mostly lower across the board today: Lean Hogs ended the day lower by $0.48 to close at $61.78; Pork Bellies ended the day lower by $0.15 to close at $83.80; Live Cattle ended the day lower by $0.70 at $93.63 and Feeder Cattle ended the day higher by $0.68 at $103.03.

Other Commodities: Corn ended the day sharply lower today by $19.75 at $469.00 and Soybeans moved sharply lower today by $50.00 to end the session at $1,189.50.

Bonds were lower across the board today: 2 year bond moved lower by 7/32 to close at 102 4/32; 5 year bond moved lower by 19/32 to close at 104 8/32 today; 10 year bond moved lower by 26/32 to close at 105 27/32 and the 30 year bond moved lower by 25/32 to close at 112 19/32 on the day.

The e-mini Dow ended the session today at 12,253 with a gain of 302 points on the trading session. The total Dow Exchange Volume for the day came in at 373,338 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 7,225,171; Open Interest for Futures moved higher by 268,759 points to close at 10,598,898; the Open Interest for Options moved higher by 159,239 points to close at 9,103,776 and the Cleared Only closed higher by 126 point to close at 21,850 for a total Open Interest on the day of 19,724,524 for a total Change on the day with a gain of 428,124 points.

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Millennium-Traders