Hedge Funds

Daily Market Commentary for November 11, 2008 from Millennium-Traders.Com

We'd like to begin by wishing all the Veterans who are readers of our Daily Commentary, a Happy Veterans day. We sincerely thank you for all you gave up as well as the risks you have taken, to protect our country and our freedom.

Most likely, traders will see an increase in selling pressure toward the end of this week as hedge funds are forced to dump stocks and bonds as well as other assets to come up with cash to pay out to investors looking to cash in certain positions. (read more)

Economic data released today:

Redbook:
U.S. Retail Sales were down 1.2 percent during first week of November versus October.
Recession fears continued to suppress consumer spending, indicating a gloomy picture to the upcoming retail sales of the winter holiday season. The Redbook index's drop compared with a targeted 0.7 percent decline, per the report. The Johnson Redbook Index also showed seasonally adjusted sales in the period fell 1 percent compared with November 2007 with a targeted decline of 0.5 percent. Redbook said on an unadjusted basis, sales in the week ended November 8 were down 1 percent compared to a year ago.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the session on the world market as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) triple digit loss of 176.58 points on the day to end the trading session at 8,693.96
NYSE (New York Stock Exchange) triple digit loss of 167.68 points to end the trading session at 5,634.37
National Association of Securities Dealers Automated Quotations (NASDAQ) loss of 35.84 points to end the trading session at 1,580.90
S&P 500 loss of 4.49 points to end the trading session at 920.26
FTSE All-World excluding U.S. loss of 4.49 points to end the trading session at 146.84
FTSE RAFI 1000 loss of 78.77 points to end the trading session at 3,452.25
BEL 20 (BEL20) loss of 54.65 points to end the trading session at 2,133.24
CAC 40 (CAC40) triple digit loss of 169.34 points to end the trading session at 3,336.41
FTSE100 (UKX100) triple digit loss of 157.23 points to end the trading session at 4,246.69
NIKKEI 225 (NIK/O) triple digit loss of 272.13 points to end the trading session at 8,809.30

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 625, declined stock prices 2,582; unchanged stock prices 64; stock prices hitting new highs 5 and stock prices hitting new lows 299. NYSE quotes for volatile stocks and market trends, 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: Hill-Rom Holdings Incorporated (NYSE: HRC) stock price gained 0.63 points on the trading session, high on the trading session $25.25, low on the trading session $22.647 with a closing stock price at $23.87; Toyota Motor Corporation (NYSE: TM) stock price shed 3.64 points on the trading session, high on the trading session $67.65, low on the trading session $64.22 with a closing stock price at $65.51; HCP Incorporated (NYSE: HCP) stock price shed 2.21 points on the trading session, high on the trading session $24.83, low on the trading session $21.68 with a closing stock price at $23.00; Goldman Sachs Group Incorporated (NYSE: GS) stock price gained 3.47 points on the trading session, high on the trading session $75.42, low on the trading session $66.68 with a closing stock price at $74.68; Ultrashort Financial ProShares Corporation (NYSE: SKF) stock price gained 7.48 points on the trading session, high on the trading session $162.59, low on the trading session $148.20 with a closing stock price at $155.90; Potash Corporation Saskatchewan (NYSE: POT) stock price shed 1.80 points on the trading session, high on the trading session $81.81, low on the trading session $76.81 with a closing stock price at $79.83; CME Group Incorporated (NYSE: CME) stock price shed 8.28 points on the trading session, high on the trading session $245.61, low on the trading session $225.06 with a closing stock price at $234.65; Proshares Ultrashort (NYSE: EEV) stock price gained 8.25 points on the trading session, high on the trading session $94.95, low on the trading session $85.72 with a closing stock price at $90.90; Fluor Corporation (NYSE: FLR) stock price shed 2.38 points on the trading session, high on the trading session $39.00, low on the trading session $36.27 with a closing stock price at $37.33.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 715; declined stock prices 2,129; unchanged stock prices 111; stock prices hitting new highs 2; stock prices hitting new lows 343. NASDAQ quotes, volatile stocks and market trends, 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: Focus Media Holding Limited Incorporated (NasdaqGS: FMCN) stock price shed 7.25 points on the trading session, high on the trading session $9.75, low on the trading session $7.54 with a closing stock price at $8.84; Dentsply International Incorporated (NasdaqGS: XRAY) stock price gained 0.49 points on the trading session, high on the trading session $29.99, low on the trading session $29.01 with a closing stock price at $29.59; Bucyrus International Incorporated (NasdaqGS: BUCY) stock price gained 1.20 points on the trading session, high on the trading session $25.50, low on the trading session $23.95 with a closing stock price at $24.90; Google Incorporated (NasdaqGS: GOOG) stock price shed 8.62 points on the trading session, high on the trading session $316.30, low on the trading session $300.52 with a closing stock price at $310.16.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 237; declined stock prices 635; unchanged stock prices 67; stock prices hitting new highs 1 and stock prices hitting new lows 51.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for December 2008 Contracts:
E-mini S&P 500 (ES) end of day price 893.50 change -28.00
E-mini NASDAQ-100 (NQ) end of day price 1,226.75 change -29.75
E-mini S&P SmallCap 600 (SMP) end of day price 264.20 change 0.00
$5 DJIA (YM) end of day price 8,700 change -187

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7984 to U.S. Dollars 1.2525
Japanese Yen 97.690 to U.S. Dollars 0.0102
British Pound 0.6501 to U.S. Dollars 1.5382
Canadian Dollar 1.2043 to U.S. Dollars 0.8304
Swiss Franc 1.1871 to U.S. Dollars 0.8424

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) shed $3.08 on the day for a closing price of $59.33 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) shed $0.08 on the day for a closing price of $1.93 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) shed $0.57 on the day for a closing price of $6.85 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) shed $0.06 on the day for a closing price of $1.31 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) shed $13.70 on the day for a closing price of $732.80 ($US per Troy ounce)
Silver (COMEX: CMX) shed $0.42 on the day for a closing price of $9.81 ($US per Troy ounce)
Platinum (NYMEX: NYM) shed $33.30 on the day for a closing price of $826.60 ($US per Troy ounce)
Copper (COMEX: CMX) shed $0.10 on the day for a closing price of $1.65 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) shed 0.03 on the day for a closing price of 54.98
Pork Bellies (Chicago Mercantile Exchange: CME) gained 0.48 on the day for a closing price of 84.68
Live Cattle (Chicago Mercantile Exchange: CME) shed 0.95 on the day for a closing price of 91.60
Feeder Cattle (Chicago Mercantile Exchange: CME) shed 1.68 on the day for a closing price of 97.25

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) shed 9.25 on the day for a closing price of 374.25
Soybeans (Chicago Board of Trade: CBT) shed 32.00 on the day for a closing price of 917.50

Bond Market:
Closed in observance of Veterans Day, data provided from November 10.
2 year bond gained 4/32 on the day for a closing price of 100 14/32 with a Yield of 1.26, Yield Change -0.07
5 year bond gained 9/32 on the day for a closing price of 101 9/32 with a Yield of 2.50, Yield Change 0.04
10 year bond gained 7/32 on the day for a closing price of 101 31/32 with a Yield of 3.75, Yield Change -0.03
30 year bond gained 28/32 on the day for a closing price of 104 27/32 with a Yield of 4.21, Yield Change -0.05

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