Natural Gas Production

Daily Market Commentary for May 30, 2008 from Millennium-Traders.Com

Todays top stock pick for the trading session was Penn Virginia Corporation (NYSE: PVA) with a gain at the close of over 10 points. Setting a new 52 week high, with ease PVA was a very active stock for day traders. (read more)

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 U.S. Markets:
DOW (Dow Jones Industrial Average) loss of 7.90 points on the day to end the session at 12,638.32
NYSE (New York Stock Exchange) gain of 29.21 points to end the session at 9,401.08
NASDAQ gain of 14.34 points for a close at 2,522.66
S&P 500 gain of 2.09 points for a close at 1,400.35
FTSE All-World ex-U.S. gain of 1.64 points to close at 253.92
FTSE RAFI 1000 gain of 11.68 points for a close at 5,601.51
BEL 20 gain of 23.98 points to close at 3,751.41
CAC 40 gain of 38.38 points to close at 5,014.25
FTSE100 loss of 14.6 points to close at 6,053.5
NIKKEI 225 triple digit gain of 214 points to close at 14,760.31

News on the New York Stock Exchange (NYSE) today: advanced stocks 1,759; declined stocks 1,396; unchanged stocks 97; stocks hitting new highs 60; stocks hitting new lows 26. Daily Trading Range and end of day trading results for volatile stocks on the NYSE traded by active Day Traders today: Penn Virginia Corporation (NYSE: PVA) gained 10.02 points on the trading day, high on the trading day $63.85, low on the trading day $54.66, for a closing price at $63.02; AptarGroup Incorporated (NYSE: ATR) shed 0.80 points on the trading day, high on the trading day $45.89, low on the trading day $43.23, for a closing price at $44.72; Ashland Incorporated (NYSE: ASH) shed 4.61 points on the trading day, high on the trading day $56.20, low on the trading day $53.40, for a closing price at $53.67; Weyerhaeuser Company (NYSE: WY) shed 5.11 points on the trading day, high on the trading day $68.65, low on the trading day $61.59, for a closing price at $62.33; MasterCard Incorporated (NYSE: MA) shed 0.35 points on the trading day, high on the trading day $320.30, low on the trading day $304.60, for a closing price at $308.65; CME Group, Incorporated (NYSE: CME) shed 7.00 points on the trading day, high on the trading day $443.98, low on the trading day $428.76, for a closing price at $430.30; Petroleo Brasileiro SA (NYSE: PBR) shed 0.28 points on the trading day, high on the trading day $73.05, low on the trading day $69.53, for a closing price at $70.50; Transocean Incorporated (NYSE: RIG) shed 1.89 points on the trading day, high on the trading day $154.05, low on the trading day $149.89, for a closing price at $150.19.

News on the NASDAQ today: advanced stocks 1,585 declined stocks 1,366; unchanged stocks 105; stocks hitting new highs 57; stocks hitting new lows 67. Trading range and end of day trading results for volatile NASDAQ stocks traded by active Day Traders today: Chattem Incorporated (NasdaqGS: CHTT) shed 2.83 points on the trading day, high on the trading day $64.70, low on the trading day $61.08 for a closing price at $62.34; (NasdaqGS: OVTI) shed 0.64 points on the trading day, high on the trading day $16.49, low on the trading day $15.39 for a closing price at $15.88; First Solar, Incorporated (NasdaqGS: FSLR) gained 15.38 points on the trading day, high on the trading day $276.82, low on the trading day $265.80 for a closing price at $267.48.

News on the American Stock Exchange (AMEX) today: advanced stocks 700; declined stocks 482; unchanged stocks 99; stocks hitting new highs 10; stocks hitting new lows 10.

U.S. Personal Income rose at rate of 0.2% in April compared to consensus of an increase by 0.1%; U.S. Personal Spending rose at rate of0.2% In April compared to consensus of an increase by 0.2%; April PCE Core Price Index rose at rate of 0.1% on the month; April PCE Core Price Index rose at rate of 2.1% on the year; April PCE Price Index rose at rate of 0.2% Rate on the month; April PCE Price Index rose at rate of 3.2% on the year; March Personal Income revised to increase by 0.4% from increase by 0.3% March Spending Unrevised at increase by 0.4%.

University of Michigan End-May Sentiment came in at 59.8 compared to April reading of 62.6; University of Michigan End-May Current Index came in at 73.3 compared to April reading of 77.0; University of Michigan End-May Expectations came in at 51.5 compared to April reading of 53.3; University of Michigan Preliminary May Sentiment was 59.5; University of Michigan 5-year Inflation Forecast rose 3.4% compared to April increase by 3.2%; University of Michigan 12-Mo Inflation Forecast rose 5.2% compared to April increase by 4.8%.

U.S. Chicago Purchasing Management May Prices Paid Index came in at 87.5 versus April reading of 82.9; U.S. Chicago Purchasing Management adjusted May Index came in at 49.1 versus April reading of 48.3; U.S. Chicago Purchasing Management May Supplier Deliveries came in at 51.0 versus April reading of 52.5; U.S. Chicago Purchasing Management May Employment Index came in at 41.2 versus April reading of 35.3; U.S. Chicago Purchasing Management May New Orders Index came in at 56.1 versus April reading of 53.0.

Commodities Markets
Energy Sector: Light Crude (NYM) gained $0.73 on the day to close at $127.35 a barrel ($US per bbl.); Heating Oil (NYM) shed $0.04 on the day to close at $3.67 a gallon ($US per gal.); Natural Gas (NYM) gained $0.23 on the day to close at $11.70 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.02 on the day to close at $3.35 a gallon ($US per gal.).

Metals Markets: Gold (CMX) gained $9.80 to close at $891.50 ($US per Troy oz.); Silver (CMX) gained $0.37 to close at $16.88 ($US per Troy oz.); Platinum (NYM) gained $19.80 on the day to close at $2,010.00 ($US per Troy oz.) and Copper (CMX) gained $0.05 to close at $3.61 ($US per lb.).

Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) gained 1.85 to close at 78.10; Pork Bellies (CME) gained 2.98 to close at 78.73; Live Cattle (CME) gained 0.93 to close at 101.85; Feeder Cattle (CME) gained 0.58 to close at 116.03.

Other Commodities (cents per bu.): Corn (CBT) gained 17.00 to close the session at 626.50 and Soybeans (CBT) gained 40.75 to close session at 1,363.50.

Bond action for the day: 2 year bond gained 3/32 to close at 99 31/32 with a Yield of 2.64, Yield Change -0.04; 5 year bond gained 15/32 to close at 100 12/32 with a Yield of 3.41, Yield Change -0.01; 10 year bond gained 8/32 to close at 98 19/32 with a Yield of 4.05, Yield Change -0.02; the 30 year bond gained 21/32 to close at 94 21/32 on the day with a Yield of 4.71, Yield Change -0.04.

The e-mini Dow $5 ended the commodity session today at 12,654 with a gain of 30 points on the trading session. Futures Traders should review workshops available at the CBOT (Chicago Board of Trade). Educational in-person seminars schedules available on the CBOT (Chicago Board of Trade) website.

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

Stocks Trading Room:
Jeannie - $4,903
Barry - $7,774
Marty - $5,707
Sam - $2,072

Futures Trading Room:
JT - $4,515

Forex Trading Room:
JT - $4,750

Daily Swing Trades:
Barry - $4,650

Weekly Swing Trades:
Jeannie - $-140

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