Market Commentary for April 09, 2007


As we begin the week following the extended holiday weekend for a majority of the markets, trading volume was rather light with fairly tight trading ranges. The markets were generally mixed at the close, with an overall whipotile action plaguing day traders and investors through out the session. At the closing bell, here is how the major indices ended the session: the DOW (Dow Jones Industrial Average) moved higher today by 8.94 points to end the session at 12569.14; the NYSE (New York Stock Exchange) moved higher by a mere 2.64 points to end at 9431.44; the NASDAQ shed 2.16 points today for a close at 2469.18; the S&P 500 moved higher by 0.85 points to end at 1444.61 and the RUSSELL 2000 moved lower by 1.71 points to close at 811.64. 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 worlds investable market capitalization) moved higher by 0.92 to close at 248.37 and the FTSE RAFI 1000 moved higher by 5.67 to close at 6076.40.

Economic data released for the day: N/A

On the commodities markets, the trend was lower across the board today for the Energy sector: Light crude moved lower by $2.77 today to close at $61.51 a barrel; Heating Oil moved lower by $0.05 to close at $1.85 a gallon; Natural Gas moved lower by $0.06 today to end at $7.55 per million BTU and Unleaded Gas closed lower by $0.04 at $2.06 a gallon.

Metals Market ended the session mixed across the board today: Gold moved lower by $2.50 to close at $676.90 an ounce; Silver moved higher today by $0.07 to end the session at $13.81 an ounce; Platinum moved lower today by $1.60 to close at $1,264.30 an ounce and Copper ended the day higher by $0.13 to end at $3.51 per pound.

On the Livestock and Meat Markets, the trend was mixed across the board today: Lean Hogs moved higher today by 0.23 at 75.83; Pork Bellies ended the day lower by 0.18 to close at 99.88 Live Cattle moved higher by 0.38 to end the day at 96.70 and Feeder Cattle ended the day higher by 0.90 to close at 112.75.

Other Commodities: Corn moved lower today by 0.25 points to end at 386.50 and Soybeans moved sharply lower today by 11.50 to close at 749.00.

Bonds were mostly across the board today: 2 year bond closed higher by 1/32 at 99 18/32; 5 year bond closed higher by 1/32 at 99 9/32; 10 year bond closed higher by 1/32 at 99 1/32 and the 30 year bond closed with no change at 97 10/32.

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 1,595,361 Open Interest for Futures moved lower by 11,820 to close at 9,641,153; the Open Interest for Options moved higher by 6,480 to close at 7,510,994 and the Open Interest for OTC had no change at 3,190 for a total Open Interest of 17,155,337 for a total loss on the day by 5,340.

The mini Dow ended the session higher by 17 at 12639. The total Dow Exchange Volume for the day came in at 3,036 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.

On the NYSE today, advancers came in at 1,596; decliners totaled 1,640; unchanged came in at 144; new highs came in at 383 and new lows came in at 20. New York Stock Exchange movers for the day today: Peabody Energy Corporation (BTU) moved nicely higher by 2.13 points to close the session at $45.87; Trina Solar Limited (TSL) rallied higher by 6.82 points 14.41% to end at $54.16; Burlington Northern Santa Fe Corporation (BNI) climbed higher on the listed market by 5.36 points to end at $88.08; American Home Mortgage Investment Corporation (AHM) fell sharply on the market today by 15.17% to lose 3.92 points on the day for a closing price of $21.92 and International Rectifier Corporation (IRF) moved lower by 2.89 points to close at $35.91.

On the NASDAQ today, advancers came in at 1,342; decliners totaled 1,714; unchanged came in at 137 new highs came in at 179 and new lows came in at 64. Gainers and losers for the day on the NASDAQ: Daktronics Incorporated (DAKT) fell sharply today by 5.92 points to shed 21.22% for a closing price of $21.98; WD-40 Company (WDFC) climbed nicely higher by 4.70 points to gain 14.76% on the day for a closing of $36.59; The9 Limited (NCTY) rallied higher today by17.55% for a gain of 6.18 points to close at $41.40; Dendreon Corporation (DNDN) bolted higher again today for a gain on the market by 30.19% to move higher by 5.45 points to end the day at $23.50 and Schnitzer Steel Industries Incorporated (SCHN) climbed by 12.23% for a gain by 4.97 points for a closing price of $45.70.

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Millennium-Traders