Final Countdown

Daily Market Commentary for September 26, 2008 from Millennium-Traders.Com

At this point no one knows if the rescue is a good idea, period. Something needs to be done but, Main Street America does not want to be holding the back for fat cats on Wall Street. (read more)

Economic data released today:

Corporate Profits:
Second Quarter Corporate Profits fell 0.4% versus a drop by 7.7% in First Quarter; Second Quarter Corporate Profits revised to a drop by 0.4% from an increase by 1.0%.

GDP:
U.S. Second Quarter GDP revised to increase by 2.8% Rate from increase by 3.3%; U.S. Second Quarter GDP Consensus increased by 3.3%; U.S. Second Quarter Real Final Sales revised to increase by 4.4% rate from increase by 4.8%; U.S. Second Quarter PCE Price Index revised to increase by 4.3% rate from increase by 4.2%; U.S. Second Quarter Purchases Price Index increased by 4.2% as was left unrevised from preliminary report; U.S. Second Quarter Chain-Weighted Price Index revised to increase by 1.1% from increase by 1.2%.

Consumer Sentiment:
University of Michigan 5-Year Inflation Forecast increased by 3.0% compared to August reading of increase by 3.2%; University of Michigan 12-Month Inflation Forecast increased by 4.3% compared to August reading of increase by 4.8%; University of Michigan Preliminary September Sentiment was 73.1; University of Michigan End-September Expectations came in at 67.2 compared to August reading of 57.9; University of Michigan End-September Current Index came in at 75.0 compared to August reading of 71.0; University of Michigan End-September Sentiment came in at 70.3 compared to August reading of 63.0.

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 gain of 124.33 points on the day to end the trading session at 11,146.39
NYSE (New York Stock Exchange) loss of 38.02 points to end the trading session at 7,889.85
NASDAQ loss of 3.23 points to end the trading session at 2,183.34
S&P 500 gain of 3.97 points to end the trading session at 1,213.15
FTSE All-World excluding U.S. loss of 2.06 points to end the trading session at 203.79
FTSE RAFI 1000 gain of 16.35 points to end the trading session at 4,821.39
BEL 20 (BEL20) loss of 92.13 points to end the trading session at 2,814.11
CAC 40 (CAC40) loss of 63.43 points to end the trading session at 4,163.38
FTSE100 (UKX100) triple digit loss of 108.55 points to end the trading session at 5,088.47
NIKKEI 225 (NIK/O) triple digit loss of 113.37 points to end the trading session at 11,893.16

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 1,021; declined stock prices 2,195; unchanged stock prices 70; stock prices hitting new highs 6 and stock prices hitting new lows 249.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: Flowserve Corporation (NYSE: FLS) stock price shed 5.43 points on the trading session, high on the trading session $93.28, low on the trading session $87.72 with a closing stock price at $89.45;Rio Tinto (NYSE: RTP) stock price shed 23.44 points on the trading session, high on the trading session $280.90, low on the trading session $263.33 with a closing stock price at $271.00; Transocean Incorporated (NYSE: RIG) stock price shed 5.19 points on the trading session, high on the trading session $125.48, low on the trading session $119.01 with a closing stock price at $121.83.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 1,212; declined stock prices 1,703; unchanged stock prices 116; stock prices hitting new highs 9; stock prices hitting new lows 185.
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: Tibco Software Incorporated (NasdaqGS: TIBX) stock price gained 0.47 points on the trading session, high on the trading session $7.36, low on the trading session $7.03 with a closing stock price at $7.26; Research In Motion Limited (NasdaqGS: RIMM) stock price shed 26.47 points on the trading session, high on the trading session $77.75, low on the trading session $69.50 with a closing stock price at $71.06; Finish Line Incorporated (NasdaqGS: FINL) stock price shed 0.94 points on the trading session, high on the trading session $10.85, low on the trading session $9.03 with a closing stock price at $9.52; First Solar Incorporated (NasdaqGS: FSLR) stock price shed 14.02 points on the trading session, high on the trading session $215.73, low on the trading session $200.00 with a closing stock price at $207.36.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 359; declined stock prices 835; unchanged stock prices 76; stock prices hitting new highs 2; stock prices hitting new lows 110.

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 1,218.50 change 5.00
E-mini NASDAQ-100 (NQ) end of day price 1,675.75, change -4.25
E-mini S&P SmallCap 600 (SMP) end of day price 374.00, change 1.30
$5 DJIA (YM) end of day price 11,167 change 149

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6846 to U.S. Dollars 1.4607
Japanese Yen 106.170 to U.S. Dollars 0.0094
British Pound 0.5431 to U.S. Dollars 1.8412
Canadian Dollar 1.0326 to U.S. Dollars 0.9684
Swiss Franc 1.0905 to U.S. Dollars 0.9170

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) shed $1.13 on the day for a closing price of $106.89 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) shed $0.03 on the day for a closing price of $3.02 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) shed $0.30 on the day for a closing price of $7.63 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) shed $0.03 on the day for a closing price of $2.67 a gallon ($US per gallon)

Metals Markets:
Gold Market Price (COMEX: CMX) gained $6.50 on the day for a closing price of $888.50 ($US per Troy ounce)
Silver (COMEX: CMX) gained $0.26 on the day for a closing price of $13.50 ($US per Troy ounce)
Platinum (NYMEX: NYM) shed $68.10 on the day for a closing price of $1,123.10 ($US per Troy ounce)
Copper (COMEX: CMX) shed $0.06 on the day for a closing price of $3.07 ($US per pound)

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) gained 0.35 on the day for a closing price of 69.63
Pork Bellies (Chicago Mercantile Exchange: CME) gained 1.55 on the day for a closing price of 99.68
Live Cattle (Chicago Mercantile Exchange: CME) gained 0.18 on the day for a closing price of 102.75
Feeder Cattle (Chicago Mercantile Exchange: CME) shed 0.80 on the day for a closing price of 105.58

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) shed 15.25 on the day for a closing price of 543.00
Soybeans (Chicago Board of Trade: CBT) shed 19.00 on the day for a closing price of 1,164.00

Bond Market:
2 year bond gained 3/32 on the day for a closing price of 99 23/32 with a Yield of 2.14, Yield Change -0.04
5 year bond shed 19/32 on the day for a closing price of 100 8/32 with a Yield of 3.06, Yield Change 0.02
10 year bond no change on the day for a closing price of 101 5/32 with a Yield of 3.85, Yield Change 0.00
30 year bond gained 22/32 on the day for a closing price of 102 10/32 with a Yield of 4.35, Yield Change -0.01

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

Stocks Trading Room:
Jeannie $4,498
Barry $9,962
Sam $3,393

Futures Trading Room:
JT $6,845.00

Forex Trading Room:
JT $15,350

Daily Swing Trades:
Barry $12,800

Weekly Swing Trades:
Jeannie -$460

Thanks for reading
Millennium-Traders.Com