Bear Market

[MTnews]

Daily Market Commentary for June 27, 2008 from

Market action is certainly looking like we are in Bear Market Territory. Trading volume was heavy during the trading session, setting off alarms for potential Bear Market trading activity. ()

At the closing bell on the Stock Exchange, here is how the major world indices and major U.S. indices ended the session on the world market as well as the emerging markets including the stock market closing price:

DOW (Dow Jones Industrial Average) triple digit loss of 100.07 points on the day to end the trading session at 11,353.35, for the year 2008, this is the thirty-seventh loss of one hundred points or more
NYSE (New York Stock Exchange) loss of 17.47 points to end the trading session at 8,623.27
NASDAQ loss of 5.74 points to end the trading session at 2,315.63
S&P 500 loss of 4.27 points to end the trading session at 1,278.88
FTSE All-World ex-U.S. loss of 1.04 points to end the trading session at 231.42
FTSE RAFI 1000 loss of 20.67 points to end the trading session at 4,988.54
BEL 20 (BEL20) loss of 28.36 points to end the trading session at 3,177.42
CAC 40 (CAC40) loss of 28.87 points to end the trading session at 4,397.32
FTSE100 (UKX100) gain of 11.7 points to end the trading session at 5,529.9
NIKKEI 225 (NIK/O) triple digit loss of 277.96 points to end the trading session at 13,544.36

Market trends on the New York Stock Exchange (NYSE) today: advanced stocks 1,168; declined stocks 1,994; unchanged stocks 94; stocks hitting new highs 30; stocks hitting new lows 454. List of volatile stocks as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Walter Industries Incorporated (NYSE: WLT) gained 10.16 points on the trading session, high on the trading session $109.15, low on the trading session $95.75 for a closing stock price at $107.90; AZZ Incorporated (NYSE: AZZ) gained 6.81 points on the trading session, high on the trading session $40.81, low on the trading session $36.99 for a closing stock price at $39.08; CF Industries Holdings Incorporated (NYSE: CF) gained 3.06 points on the trading session, high on the trading session $158.00, low on the trading session $149.00 for a closing stock price at $156.85; CME Group Incorporated (NYSE: CME) shed 17.45 points on the trading session, high on the trading session $410.97, low on the trading session $384.00 for a closing stock price at $389.50; Agrium Incorporated (NYSE: AGU) gained 2.81 points on the trading session, high on the trading session $107.84, low on the trading session $101.16 for a closing stock price at $106.73; Transocean Incorporated (NYSE: RIG) gained 1.22 points on the trading session, high on the trading session $154.29, low on the trading session $150.11 for a closing stock price at $152.50.

Market trends on the NASDAQ today: advanced stocks 1,194; declined stocks 1,749; unchanged stocks 120; stocks hitting new highs 18; stocks hitting new lows 357. List of volatile stocks as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: First Solar Incorporated (NasdaqGS: FSLR) shed 7.95 points on the trading session, high on the trading session $271.78, low on the trading session $261.29 for a closing stock price at $265.31; Google Incorporated (NasdaqGS: GOOG) shed 1.67 points on the trading session, high on the trading session $530.00, low on the trading session $515.09 for a closing stock price at $527.15.

Market trends on the American Stock Exchange (AMEX) today: advanced stocks 487; declined stocks 715; unchanged stocks 79; stocks hitting new highs 34; stocks hitting new lows 106.

University of Michigan End-June Consumer Sentiment came in at 56.4 compared to reading in May 59.8; University of Michigan End-June Current Index came in at 67.6 compared to May reading of 73.3; University of Michigan End-June expectations were at 49.2 compared to May reading of 51.1; University Michigan Preliminary June Sentiment was 56.7; University Michigan 12-Month Inflation Forecast increased by 5.1% compared to May reading of increase by 5.2%.

U.S. Personal Income increased by 1.9% in May, compared to consensus of an increase by 0.4%; U.S. Personal Spending increased by 0.8% in May compared to consensus of an increase by 0.7%; May PCE Core Price Index increased at rate of 0.1% on the month; May PCE Core Price Index increased at rate of 2.1% on the year; May PCE Price Index increased at rate of 0.4% on the month; May PCE Price Index increased at rate of 3.1% on the year; April Personal Income revised to an increase of 0.3% from increase by 0.2%; April Spending revised to increase of 0.4% from increase by 0.2%,

Chicago Board of Trade Futures Market activity for the day, September 2008 Contracts, at time of this posting:

E-mini S&P 500 (ES) end of day price 1281.50, change -3.00

E-mini NASDAQ-100 (NQ) end of day price 1869.00, change 2.50

E-mini S&P SmallCap 600 (SMP) end of day price 368.90, change -2.00

$5 DJIA (YM) end of day price 11,366, change -96

World Currencies at time of this posting:

Euro 0.6335 to U.S. Dollars 1.57864

Japanese Yen 106.1500 to U.S. Dollars 0.0094

British Pound 0.5014 to U.S. Dollars 1.9943

Canadian Dollar 1.0107 to U.S. Dollars 0.9894

Swiss Franc 1.0182 to U.S. Dollars 0.9821

Commodities Markets:

Energy Sector: Light Crude (NYM) gained $0.57 on the day for a closing price of $140.21 a gallon ($US per bbl.); Heating Oil (NYM) gained $0.02 on the day for a closing price of $3.93 a gallon ($US per gal.); Natural Gas (NYM) shed $0.05 on the day for a closing price of $13.20 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) shed $0.01 on the day for a closing price of $3.50 a gallon ($US per gal.).

Metals Markets: Gold Market Price (CMX) gained $16.20 on the day for a closing price of $931.31 ($US per Troy oz.); Silver (CMX) gained $0.49 on the day for a closing price of $17.71 ($US per Troy oz.); Platinum (NYM) shed $7.40 on the day for a closing price of $2,062.40 ($US per Troy oz.) and Copper (CMX) gained $0.05 on the day for a closing price of $3.8883 ($US per lb.).

Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) gained 10.03 on the day for a closing price of 72.70; Pork Bellies (CME) gained 1.80 on the day for a closing price of 74.50; Live Cattle (CME) gained 1.25 on the day for a closing price of 105.10; Feeder Cattle (CME) gained 0.28 on the day for a closing price of 111.73.

Other Commodities (cents per bu.): Corn (CBT) shed 1.00 on the day for a closing price of 787.00 and Soybeans (CBT) shed 2.00 on the day for a closing price of 1,559.50.

Bond action for the day: 2 year bond gained 1/32 on the day for a closing price of 100 14/32 with a Yield of 2.63, Yield Change -0.03; 5 year bond gained 12/32 on the day for a closing price of 100 3/32 with a Yield of 3.35, Yield Change -0.04; 10 year bond gained 15/32 on the day for a closing price of 99 5/32 with a Yield of 3.96, Yield Change -0.07; the 30 year bond gained 1 7/32 on the day for a closing price of 97 18/32 with a Yield of 4.52, Yield Change -0.08.

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

Stocks Trading Room:
Jeannie - $7,606
Barry - $13,265
Marty - $8,930
Sam - $4,566

Futures Trading Room:
JT - $5,430.00

Forex Trading Room:
JT - $5,450

Daily Swing Trades:
Barry - $17,540

Weekly Swing Trades:
Jeannie - $2,140

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