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Article by MTnews    (04-04-08 05:46 PM)

Daily Market Commentary for April 4, 2008 from Millennium-Traders.Com

Day traders and investors appeared to be a bit tired today, assisting in a quiet, slow motion trading session. Jobs data released early today provided the markets with a negative tone to assure Americans we are in fact, in a recession. A majority of the major indices shrugged off the data to move higher during the afternoon trading session. Mosaic Corporation, producers of fertilizer, soared higher on the trading session after reporting large profits. Many day traders reaped the benefits of the normally active day trading stock to cash in on nice gains while playing Mosaic (MOS) through out the session. Mosaic has become a favorite day trading stock for professional day trading rooms due to its volatile action and plentiful daily trading volume. Crude Oil moved higher to end the week at over $106 a barrel.

At the closing bell on the Stock Exchange, here is how the major indices ended the session on the U.S. Markets:

DOW (Dow Jones Industrial Average) loss of 16.61 points on the day to end the session at 12,609.42

NYSE (New York Stock Exchange) gain of 16.89 points to end the session at 9,157.53

NASDAQ gain of 7.68 points for a close at 2,370.98

S&P 500 gain of 1.09 points for a close at 1,370.40

FTSE All-World ex-U.S. gain of 0.91 points to close at 246.94

FTSE RAFI 1000 loss of 16.94 points to close at 5,553.28

BEL 20 gain of 39.22 points on the day to end the session at 3,822.80

CAC 40 gain of 13.01 points on the day to end the session at 4,900.88

FTSE100 gain of 55.8 points on the day to end the session at 5,947.10

NIKKEI 225 loss of 96.7 points on the day to end the session at 13,293.20

On the NYSE today, advancers came in at 1,724, decliners totaled 1,419; unchanged came in at 90; new highs came in at 66 and new lows came in at 12. Momentum NYSE stocks traded by active Day Traders today: Prudential Financial Incorporated (PRU) gained 0.22 points with a high on the day of $83.86, a low of $80.78 for a closing price at $81.49; Rio Tinto plc (RTP) gained 17.80 points with a high on the day of $457.46, a low of $442.55 for a closing price at $454.50; AZZ Incorporated (AZZ) shed 6.62 points with a high on the day of $37.50, a low of $29.71 for a closing price at $31.88; ITT Educational Services Incorporated (ESI) gained 7.80 points with a high on the day of $63.08, a low of $53.99 for a closing price at $60.71; Massey Energy Corporation (MEE) gained 7.27 points with a high on the day of $48.61, a low of $40.73 for a closing price at $47.15; Allegheny Technologies Incorporated (ATI) gained 8.95 points with a high on the day of $84.42, a low of $72.65 for a closing price at $84.00; Greenhill & Company Incorporated (GHL) shed 3.74 points with a high on the day of $71.60, a low of $68.26 for a closing price at $68.26; LDK Solar Corporation Ltd (LDK) gained 4.78 points with a high on the day of $37.86, a low of $33.26 for a closing price at $36.40; Vornado Realty Trust (VNO) shed 3.79 points with a high on the day of $93.89, a low of $89.53 for a closing price at $89.77; CF Industries Holdings, Incorporated (CF) gained 11.09 points with a high on the day of $127.16, a low of $117.76 for a closing price at $125.64; Bunge Limited (BG) gained 3.78 points with a high on the day of $96.82, a low of $92.00 for a closing price at $96.39; Petroleo Brasileiro (PBR) gained 0.84 points with a high on the day of $113.75, a low of $110.07 for a closing price at $110.80; CME Group, Incorporated (CME) shed 3.30 points with a high on the day of $516.50, a low of $503.00 for a closing price at $510.60; Transocean, Incorporated (RIG) gained 3.16 points with a high on the day of $145.89, a low of $141.05 for a closing price at $143.54; Mosaic Corporation (MOS) gained 10.55 points with a high on the day of $116.65, a low of $112.00 for a closing price at $115.07; Monsanto Corporation (MON) gained 1.51 points with a high on the day of $121.11, a low of $116.73 for a closing price at $119.30; MF Global Limited (MF) gained 0.78 points with a high on the day of $12.71, a low of $11.28 for a closing price at $12.25.

On the NASDAQ today, advanced totaled 1,472; decliners totaled 1,424; unchanged came in at 133; new highs came in at 37 and new lows came in at 42. Momentum NASDAQ stocks traded by active Day Traders today: Riverbed Technology, Incorporated (RVBD) shed 1.77 points with a high on the day of $13.96, a low of $12.71 for a closing price at $12.86; Orthofix International NV (OFIX) shed 9.69 points with a high on the day of $39.10, a low of $29.50 for a closing price at $30.21; First Solar, Incorporated (FSLR) gained 26.40 points with a high on the day of $283.90 a low of $254.66 for a closing price at $278.00; Google Incorporated (GOOG) gained 15.97 points with a high on the day of $477.83, a low of $456.20 for a closing price at $471.09; Research In Motion Limited (RIMM) shed 2.59 points with a high on the day of $123.19, a low of $119.75 for a closing price at $119.99; Baidu.com, Incorporated (BIDU) gained 7.25 points with a high on the day of $300.50, a low of $283.51 for a closing price at $293.89.

U.S. March Non-farm Payrolls fell 80K compared to consensus of 50K; U.S. March Unemployment Rate came in at 5.1% compared to consensus of 5.0%; U.S. March Average Hourly Earnings increased by $0.05 to $17.86; U.S. March Manufacturing Payrolls fell 48K; U.S. March Service-Producing Payrolls increased by 13K; U.S. March Overall Workweek increased by 0.1 Hour to 33.8 Hours; U.S. February Payrolls Revised to increased by 76K from a drop by 63K; U.S. February Unemployment was left Unrevised at 4.8%; U.S. March Payroll Drop was biggest since March 2003; U.S. March Jobless Rate was highest since September 2005.

Commodities Markets
The trend was mostly higher across the board today for the Energy Sector: Light crude moved higher today by $2.40 to close at $106.23 a barrel; Heating Oil moved higher today by $0.07 to close at $2.99 a gallon; Natural Gas moved lower today by $0.10 to close at $9.32 per million BTU and Unleaded Gas moved higher today by $0.03 to close at $2.76 a gallon.

Metals Markets ended the session higher across the board today: Gold moved higher today by $3.60 to close at $913.20 a Troy ounce; Silver moved higher today by $0.28 to close at $17.76 per Troy ounce; Platinum moved nicely higher today by $17.60 to close at $2,030.50 per Troy ounce and Copper moved higher today by $0.05 to close at $3.95 per pound.

On the Livestock and Meat Markets, the trend was higher across the board today: Lean Hogs ended the day higher by $2.63 to close at $72.23; Pork Bellies ended the day higher by $1.23 to close at $72.10; Live Cattle ended the day higher by $0.13 to close at $89.20 and Feeder Cattle ended the day higher by $0.30 to close at $101.10.

Other Commodities: Corn ended the day lower by $1.50 at $608.75 and Soybeans ended the day nicely higher by $20.00 to end the session at $1,277.00.

Bonds were higher across the board today: 2 year bond closed higher by 4/32 at 99 27/32; 5 year bond moved higher by 15/32 to close at 99 13/32 today; 10 year bond moved higher by 26/32 to close at 100 5/32 and the 30 year bond moved higher by 1 12/32 to close at 101 1/32 on the day.

The e-mini Dow ended the session today at 12,586 with a loss of 51 points on the trading session. The total Dow Exchange Volume for the day came in at 144,590 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 3,042,158; Open Interest for Futures moved lower by 51,414 points to close at 8,514,430; the Open Interest for Options moved higher by 122,688 points to close at 8,514,430 and the Cleared Only moved higher by 247 points to close at 28,543 for a total Open Interest on the day of 17,818,070 for a total Change on the day with a gain of 71,521 points.

At the close of the week, performance results for our Moderators:

Stocks Trading Room:
Jeannie - $9,854
Barry - $12,417
Marty - $7,892
Sam - $7,381

Futures Trading Room:
JT - $5,677.50

Forex Trading Room:
JT - $16,350

Daily Swing Trades:
Barry - $19,740

Weekly Swing Trades:
Jeannie - (-$1,890)

Monitor scheduled economic data every market morning by viewing the Daily Market Report from Millennium-Traders, free access to visitors on our website.

Subscribe to our free Weekly MarketNews for a review of the past weeks trading action plus, view upcoming economic data for the week ahead.

Review archives of the News & Commentary plus, our FREE Monthly Trading Lesson posted on our website.

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