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Jeannie gets into the basics on how to become a Professional Day Trader
Daily Market Commentary for August 21, 2008

World Financial Group Events

Little bit red, little bit green and an incredibly restless trading atmosphere today. Events going on around the world create an adverse reaction in the markets whether it be Stocks, Futures or Forex. Uncertainty in these ongoing world events, tend to move the markets in one direction or another and, those movements may consist of a general, flat lined direction. The flat lined direction tends to take its toll on active day traders of Stocks, Futures and Forex who are struggling to make a few bucks, trading the markets on a daily basis. Energy stocks were on the move today, with the rise in crude. Crude oil bolted today amidst the falling dollar, supply concerns and the ongoing confrontations between Russia and Georgia. Russia is a major exporter of oil outside of OPEC and is a major supplier of oil; a threat of a supply disruption supports the surge in the price of oil today. The major U.S. indices were mostly negative during the first half of the trading session but most, quickly turned around into the final hour of trading. Trading volume remains light as we crawl toward the end of the month of August which is, a very active vacation period ahead of the Autumn season. Fannie Mae (NYSE: FNM) CEO Daniel Mudd told National Public Radio on Wednesday that the company has not turned to the Treasury Department for help, nor has the Treasury asked to step in however; his comments did little to calm speculation that a government bailout will occur.

Economic data released today:
Philadelphia Fed Manufacturing Index: Philadelphia Fed August New Orders fell 11.9 versus drop in July of 12.1; Philadelphia Fed August Shipments fell 3.3 versus drop in July of 8.0; Philadelphia Fed August Delivery Times fell 9.9 versus drop in July of 10.7; Philadelphia Fed August Inventories fell 6.6 versus drop in July of 7.5; Philadelphia Fed August New Orders fell 11.9 versus drop in July of 12.1; Philadelphia Fed August Shipments fell 3.3 versus drop in July of 8.0; Philadelphia Fed August Delivery Times fell 9.9 versus drop in July of 10.7; Philadelphia Fed August Inventories fell 6.6 versus drop in July of 7.5.

Unemployment Claims: US Jobless Claims fell 13K to 432K for week of August 16 compared to survey of a drop by 15K; U.S. Continuing Claims for week of August 9 fell 17K to 3,362,000; U.S. Jobless Claims Revised for week of August to 445K from 450K.

Hot Stock pick on the move today for day trading:
Salesforce.com Incorporated (CRM) tumbled after earnings reported late Wednesday jumped 49 percent but apparently not enough to please investors. At the closing bell today, Salesforce was lower by just over 12 points or almost 18 1/2 percent. Day trading range was over 6 points and with the slow motion movement to the down side, Salesforce was one of the few stocks that provided satisfactory day trading activity for the day.

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) gain of 11.40 points on the day to end the trading session at 11,428.83
NYSE (
New York Stock Exchange) gain of 37.23 points to end the trading session at 8,314.14
NASDAQ loss of 8.70 points to end the trading session at 2,380.38
S&P 500 gain of 3.10 points to end the trading session at 1,277.64
FTSE All-World excluding - U.S. gain of 0.44 points to end the trading session at 218.12
FTSE RAFI 1000 gain of 9.10 points to end the trading session at 4,993.24
BEL 20 (BEL20) loss of 29.61 points to end the trading session at 2,970.91
CAC 40 (CAC40) loss of 61.26 points to end the trading session at 4,304.61
FTSE100 (UKX100) loss of 1.6 points to end the trading session at 5,370.20
NIKKEI 225 (NIK/O) loss of 99.48 points on the day to end the trading session at 12,752.21

New York Stock Exchange (NYSE) stock market indicators for the day:
Advanced stock prices 1,357; declined stock prices 1,802; unchanged stock prices 91; stock prices hitting new highs 9 and stock prices hitting new lows 118.
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: Massey Energy Company (MEE) stock price gained 4.41 points on the trading session, high on the trading session $70.16, low on the trading session $66.05 for a closing stock price at $69.67; CRM Salesforce.com Incorporated (CRM) stock price shed 12.05 points on the trading session, high on the trading session $58.47, low on the trading session $52.73 for a closing stock price at $53.25; Monsanto Company (MON) stock price gained 1.23 points on the trading session, high on the trading session $120.43, low on the trading session $117.23 for a closing stock price at $119.31; GameStop Corporation (GME) stock price shed 0.04 points on the trading session, high on the trading session $43.86, low on the trading session $39.90 for a closing stock price at $43.48; Potash Corporation Saskatchewan (POT) stock price gained 8.89 points on the trading session, high on the trading session $186.43, low on the trading session $17.10 for a closing stock price at $185.41; Limited Brands Incorporated (LTD) stock price gained 2.31 points on the trading session, high on the trading session $20.66, low on the trading session $18.35 for a closing stock price at $20.28; Burger King Holdings Incorporated (BKC) stock price shed 1.95 points on the trading session, high on the trading session $27.29, low on the trading session $25.16 for a closing stock price at $25.50; NYSE Euronext (NYX) stock price shed 1.12 points on the trading session, high on the trading session $39.51, low on the trading session $38.00 for a closing stock price at $38.77; Arch Coal Incorporated (ACI) stock price gained 4.22 points on the trading session, high on the trading session $57.45, low on the trading session $53.50 for a closing stock price at $56.59; CF Industries Holdings Incorporated (CF) stock price gained 5.64 points on the trading session, high on the trading session $146.59, low on the trading session $139.00 for a closing stock price at $145.54; Dick's Sporting Goods Incorporated (DKS) stock price gained 2.63 points on the trading session, high on the trading session $21.41, low on the trading session $19.21 for a closing stock price at $20.92; Sunoco Incorporated (SUN) stock price shed 1.54 points on the trading session, high on the trading session $41.78, low on the trading session $40.33 for a closing stock price at $40.46; CME Group Incorporated (NYSE: CME) stock price shed 0.06 points on the trading session, high on the trading session $344.86, low on the trading session $338.00 for a closing stock price at $341.93; XTO Energy Incorporated (NYSE: XTO) stock price gained 0.62 points on the trading session, high on the trading session $52.59, low on the trading session $50.40 for a closing stock price at $50.90; Ultrashort Financial Corporation (NYSE: SKF) stock price gained 3.33 points on the trading session, high on the trading session $135.95, low on the trading session $130.34 for a closing stock price at $132.50; Rio Tinto plc (NYSE: RTP) stock price gained 10.01 points on the trading session, high on the trading session $391.00, low on the trading session $382.56 for a closing stock price at $388.60; Mosaic Company (NYSE: MOS) stock price gained 1.21 points on the trading session, high on the trading session $110.50, low on the trading session $104.37 for a closing stock price at $108.12; United States Steel Corporation (NYSE: X) stock price shed 2.38 points on the trading session, high on the trading session $144.09, low on the trading session $137.71 for a closing stock price at $140.02; MasterCard Incorporated (NYSE: MA) stock price shed 2.06 points on the trading session, high on the trading session $242.73, low on the trading session $237.60 for a closing stock price at $241.26.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:
Advanced stock prices 1,053; declined stock prices 1,755; unchanged stock prices 143; stock prices hitting new highs 18; stock prices hitting new lows 79.
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: JDS Uniphase Corporation (JDSU) stock price shed 1.56 points on the trading session, high on the trading session $10.58, low on the trading session $9.79 for a closing stock price at $10.34; Children's Place Retail Store Incorporated (PLCE) stock price gained 4.28 points on the trading session, high on the trading session $42.50, low on the trading session $39.53 for a closing stock price at $41.04; Synopsys, Incorporated (SNPS) stock price shed 2.82 points on the trading session, high on the trading session $22.10, low on the trading session $19.59 for a closing stock price at $21.32; Integral Systems Incorporated (ISYS) stock price shed 4.01 points on the trading session, high on the trading session $49.80, low on the trading session $44.27 for a closing stock price at $45.95; Alexion Pharmaceuticals Incorporated (ALXN) stock price shed 1.72 points on the trading session, high on the trading session $90.30, low on the trading session $86.17 for a closing stock price at $88.01; Google Incorporated (NasdaqGS: GOOG) stock price gained 1.93 points on the trading session, high on the trading session $489.89, low on the trading session $479.27 for a closing stock price at $486.93; First Solar Incorporated (NasdaqGS: FSLR) stock price gained 6.75 points on the trading session, high on the trading session $282.41, low on the trading session $271.12 for a closing stock price at $279.74; Fuel Systems Solutions Incorporated (NasdaqGS: FSYS) stock price gained 0.51 points on the trading session, high on the trading session $57.47, low on the trading session $51.35 for a closing stock price at $56.06.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:
Advanced stock prices 609; declined stock prices 542; unchanged stock prices 102; stock prices hitting new highs 5; stock prices hitting new lows 30.

Chicago Board of Trade Futures Market activity for the day, at time of this posting for September 2008 Contracts:
E-mini S&P 500 (ES) end of day price 1,275.25 change -0.25
E-mini NASDAQ-100 (NQ) end of day price 1,907.25, change 0.00
E-mini S&P SmallCap 600 (SMP) end of day price 380.30, change 1.00
$5 DJIA (YM) end of day price 11,406, change -2

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.6715 to U.S. Dollars 1.4893
Japanese Yen 108.53 to U.S. Dollars 0.0092
British Pound 0.5327 to U.S. Dollars 1.8773
Canadian Dollar 1.0435 to U.S. Dollars 0.9583
Swiss Franc 1.0866 to U.S. Dollars 0.9203

Commodity Markets:
Energy Sector: Light Crude (NYMEX: NYM) gained $5.62 on the day for a closing price of $121.18 a barrel ($US per barrel)
Heating Oil (NYMEX: NYM) gained $0.14 on the day for a closing price of $3.33 a gallon ($US per gallon)
Natural Gas (NYMEX: NYM) gained $0.25 on the day for a closing price of $8.43 per million BTU ($US per mmbtu.)
Unleaded Gas (NYMEX: NYM) gained $0.13 on the day for a closing price of $3.05 a gallon ($US per gallon) 

Metals Markets:
Gold Market Price (COMEX: CMX) gained $22.70 on the day for a closing price of $839.00 ($US per Troy ounce)
Silver (COMEX: CMX) gained $0.69 on the day for a closing price of $13.84 ($US per Troy ounce)
Platinum (NYMEX: NYM) gained $89.90 on the day for a closing price of $1,458.80 ($US per Troy ounce)
Copper (COMEX: CMX) gained $0.14 on the day for a closing price of $3.54 ($US per pound) 

Livestock and Meat Markets (cents per lb.):
Lean Hogs (Chicago Mercantile Exchange: CME) shed 0.33 on the day for a closing price of 74.78
Pork Bellies (Chicago Mercantile Exchange: CME) shed 0.68 on the day for a closing price of 98.58
Live Cattle (Chicago Mercantile Exchange: CME) gained 1.30 on the day for a closing price of 106.30
Feeder Cattle (Chicago Mercantile Exchange: CME) shed 0.65 on the day for a closing price of 112.53 

Other Commodities (cents per bushel):
Corn (Chicago Board of Trade: CBT) gained 22.50 on the day for a closing price of 617.50
Soybeans (Chicago Board of Trade: CBT) gained 48.00 on the day for a closing price of 1,348.00

Bond Market:
2 year bond shed 4/32 on the day for a closing price of 100 26/32 with a Yield of 2.31, Yield Change +0.06
5 year bond shed 8/32 on the day for a closing price of 101 13/32 with a Yield of 3.06, Yield Change +0.05
10 year bond shed 9/32 on the day for a closing price of 101 12/32 with a Yield of 3.83, Yield Change +0.04
30 year bond shed 11/32 on the day for a closing price of 100 18/32 with a Yield of 4.46, Yield Change +0.02

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

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Review current edition as well as, archives of the News & Commentary plus, view complete details of calls made in our Trading Rooms and stock picks from our Swing Trading services. Traders should review our FREE Monthly Trading Lesson posted on our website.


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