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Quadruple Witching

Discussion in 'Forex Daily News & Outlook' started by MTnews, Jun 20, 2008.

  1. MTnews

    MTnews Content Contributor

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    Daily Market Commentary for June 20, 2008 from Millennium-Traders.Com

    Quadruple witching racked the nerves of day traders today with the strong witch-whip giving no real strength and instead, whipping stocks every which way throughout the trading session. (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 world market as well as the emerging markets including the stock market closing price:

    DOW (Dow Jones Industrial Average) triple digit loss of 220.40 points on the day to end the trading session at 11,842.69
    NYSE (New York Stock Exchange) triple digit loss of 159.59 points to end the trading session at 8,829.25
    NASDAQ loss of 55.97 points to end the trading session at 2,406.09
    S&P 500 loss of 24.90 points to end the trading session at 1,317.93
    FTSE All-World ex-U.S. loss of 3.23 points to end the trading session at 236.77
    FTSE RAFI 1000 triple digit loss of 108.99 points to end the trading session at 5,180.66
    BEL 20 (BEL20) loss of 72.75 points to end the trading session at 3,368.67
    CAC 40 (CAC40) loss of 82.12 points to end the trading session at 4,509.27
    FTSE100 (UKX100) loss of 87.6 points to end the trading session at 5,620.8
    NIKKEI 225 (NIK/O) triple digit loss of 188.1 points to end the trading session at 13,942.1

    Market trends on the New York Stock Exchange (NYSE) today: advanced stocks 593; declined stocks 2,597; unchanged stocks 63; stocks hitting new highs 36; stocks hitting new lows 263. 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: Transocean Incorporated (NYSE: RIG) gained 0.72 points on the trading session, high on the trading session $151.30, low on the trading session $147.82 for a closing stock price at $148.81; Rio Tinto plc (NYSE: RTP) shed 0.50 points on the trading session, high on the trading session $479.00, low on the trading session $467.01 for a closing stock price at $479.00; MF Global Limited (NYSE: MF) shed 1.70 points on the trading session, high on the trading session $8.17, low on the trading session $6.62 for a closing stock price at $6.85; Mosaic Company (NYSE: MOS) gained 1.47 points on the trading session, high on the trading session $155.60, low on the trading session $147.46 for a closing stock price at $152.72; Petroleo Brasileiro SA (NYSE: PBR) shed 1.38 points on the trading session, high on the trading session $67.32, low on the trading session $65.00 for a closing stock price at $65.27; CME Group Incorporated (NYSE: CME) shed 11.79 points on the trading session, high on the trading session $443.67, low on the trading session $428.31 for a closing stock price at $429.26; Potash Corporation Saskatchewan (NYSE: POT) shed 2.92 points on the trading session, high on the trading session $237.08, low on the trading session $230.09 for a closing stock price at $230.09; Monsanto Company (NYSE: MON) gained 0.59 points on the trading session, high on the trading session $142.09, low on the trading session $138.40 for a closing stock price at $139.95; IntercontinentalExchange Incorporated (NYSE: ICE) shed 2.97 points on the trading session, high on the trading session $133.99, low on the trading session $129.12 for a closing stock price at $129.68.

    Market trends on the NASDAQ today: advanced stocks 833; declined stocks 2,074; unchanged stocks 108; stocks hitting new highs 25; stocks hitting new lows 221. 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: Sohu.com Incorporated (NasdaqGS: SOHU) shed 11.75 points on the trading session, high on the trading session $80.80, low on the trading session $71.40 for a closing stock price at $71.55; Baidu.com Incorporated (NasdaqGS: BIDU) shed 11.92 points on the trading session, high on the trading session $332.33, low on the trading session $320.01 for a closing stock price at $322.89; Google Incorporated (NasdaqGS: GOOG) shed 13.77 points on the trading session, high on the trading session $556.98, low on the trading session $544.51 for a closing stock price at $546.43; DryShips Incorporated (NasdaqGS: DRYS) shed 3.50 points on the trading session, high on the trading session $80.51, low on the trading session $78.15 for a closing stock price at $78.50.

    Market trends on the American Stock Exchange (AMEX) today: advanced stocks 347; declined stocks 878; unchanged stocks 72; stocks hitting new highs 18; stocks hitting new lows 60.

    Chicago Board of Trade Futures Market activity for the day, September 2008 Contracts:

    E-mini S&P 500 (ES) end of day price 1318.50, change -0.50

    E-mini NASDAQ-100 (NQ) end of day price 1940.75, change -0.75

    E-mini S&P SmallCap 600 (SMP) end of day price 384.30, change -0.30

    $5 DJIA (YM) end of day price 11844, change 0

    World Currencies at time of this posting:

    Euro 0.6408 to U.S. Dollars 1.5606

    Japanese Yen 107.32 to U.S. Dollars 0.0093

    British Pound 0.5063 to U.S. Dollars 1.9752

    Canadian Dollar 1.0162 to U.S. Dollars 0.9841

    Swiss Franc 1.035 to U.S. Dollars 0.9662

    International Monetary Fund First Deputy Managing Director John Lipsky: Dollar `Much Closer' to medium-term fundamentals; IMF supports Congress Housing Bill to expand FHA Program; Any more U.S. Stimulus should target financial, housing sectors; Fed should maintain policy, may have to quickly tighten; U.S. inflation to ease as Commodity prices peak, economy slows; U.S. outlook `Highly Uncertain' due to financial, housing markets; severity of U.S. economic slowdown `less than feared'; ups U.S. growth forecasts to around 1% in 2008, 0.8% in 2009.

    Commodities Markets

    Energy Sector: Light Crude (NYM) gained $2.69 on the day for a closing price of $134.62 a barrel ($US per bbl.); Heating Oil (NYM) gained $0.06 on the day for a closing price of $3.80 a gallon ($US per gal.); Natural Gas (NYM) gained $0.12 on the day for a closing price of $13.11 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) gained $0.09 on the day for a closing price of $3.44 a gallon ($US per gal.).

    Metals Markets: Gold Market Price (CMX) shed $0.50 on the day for a closing price of $903.70 ($US per Troy oz.); Silver (CMX) shed $0.07 on the day for a closing price of $17.40 ($US per Troy oz.); Platinum (NYM) shed $6.60 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 $3.83 ($US per lb.).

    Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) gained 2.93 on the day for a closing price of 78.38; Pork Bellies (CME) gained 0.78 on the day for a closing price of 72.95; Live Cattle (CME) gained 1.40 on the day for a closing price of 104.85; Feeder Cattle (CME) gained 2.48 on the day for a closing price of 113.58.

    Other Commodities (cents per bu.): Corn (CBT) shed 6.00 on the day for a closing price of 722.50 and Soybeans (CBT) shed 12.50 on the day for a closing price of 1,509.00.

    Bond action for the day: 2 year bond gained 3/32 on the day for a closing price of 99 15/32 with a Yield of 2.89, Yield Change -0.05; 5 year bond gained 8/32 on the day for a closing price of 99 18/32 with a Yield of 3.59, Yield Change -0.06; 10 year bond gained 11/32 on the day for a closing price of 97 20/32 with a Yield of 4.17, Yield Change -0.04; the 30 year bond gained 19/32 on the day for a closing price of 94 15/32 with a Yield of 4.72, Yield Change -0.04.

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