Daily Stock Market Action Zone

Daily Market Commentary for April 3, 2009

Market action was mixed throughout most of the stock market session as traders searched through stocks, looking for those that may just be in the action zone. (read more at Millennium-Traders.Com)
http://www.millennium-traders.com/news/newscommentary.aspx

Economic data released today:

Employment Situation:
U.S. March Nonfarm Payrolls fell 663K compared to consensus of a drop by 673K; U.S. March Unemployment Rate 8.5% compared to consensus of 8.5%; U.S. March Average Hourly Earnings increased by $0.03 to $18.50; U.S. March Manufacturing Payrolls fell 161K; U.S. March Service-Producing Payrolls fell 358K; U.S. March Overall Workweek fell by 0.1 Hour to 33.2 Hours; U.S. February Payrolls left unrevised at a drop by 651K; U.S. February Unemployment left unrevised at 8.1%; U.S. has lost 5.1M Jobs since Recession began; U.S. January Payrolls Revised to drop by 741K which is the biggest drop since 1949; U.S. March Jobless Rate highest since November 1983.
ISM (Institute for Supply Management) Non-Manufacturing Index:
U.S. ISM March Non-Manufacturing Composite Index 40.8 versus February 41.6; U.S. ISM March Non-Manufacturing Composite Index expected 41.6; U.S. ISM March Non-Manufacturing Business Index 44.1 versus February 40.2; U.S. ISM March Non-Manufacturing Employment Index 32.3 versus February 37.3; U.S. ISM March Non-Manufacturing Prices Index 39.1 versus February 48.1; U.S. ISM March Non-Manufacturing New Orders Index 38.8 versus February 40.7.

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 trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) gain of 39.51 points to end the trading session at 8,017.59
NYSE (New York Stock Exchange) gain of 51.65 points to end the trading session at 5,318.75
National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 19.24 points to end the trading session at 1,621.87
S&P 500 (SPX) gain of 8.12 points to end the trading session at 842.50
BEL 20 (BEL20) loss of 22.76 points to end the trading session at 1,808.37
CAC 40 (CAC40) loss of 33.32 points to end the trading session at 2,958.74
FTSE100 (UKX100) loss of 95.30 points to end the trading session at 4,029.67
NIKKEI 225 (NIK/O) gain of 30.06 points to end the trading session at 8,749.84

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 1,833, declined stock prices 846, unchanged stock prices 505, stock prices hitting new highs 5 and stock prices hitting new lows 4. 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: Hess (NYSE: HES) stock price gained 1.29 points on the trading session, high on the trading session $60.31, low on the trading session $57.75, with a closing stock price at $59.76; Novo Nordisk (NYSE: NVO) stock price shed 3.79 points on the trading session, high on the trading session $44.99, low on the trading session $42.80, with a closing stock price at $44.19; Prudential Financial (NYSE: PRU) stock price gained 1.22 points on the trading session, high on the trading session $23.84, low on the trading session $21.64, with a closing stock price at $23.84; Devon Energy (NYSE: DVN) stock price gained 1.55 points on the trading session, high on the trading session $50.47, low on the trading session $48.30, with a closing stock price at $49.95; Toyota Motor (NYSE: TM) stock price gained 3.38 points on the trading session, high on the trading session $75.34, low on the trading session $73.64, with a closing stock price at $75.11; ProShares Ultrashort Financials (NYSE: SKF) stock price shed 7.38 points on the trading session, high on the trading session $90.59, low on the trading session $80.69, with a closing stock price at $80.95; CME Group (NYSE: CME) stock price gained 9.64 points on the trading session, high on the trading session $256, low on the trading session $238.28, with a closing stock price at $255; Monsanto Company (NYSE: MON) stock price shed 0.15 points on the trading session, high on the trading session $81.52, low on the trading session $76.98, with a closing stock price at $81.26; MasterCard (NYSE: MA) stock price gained 8.39 points on the trading session, high on the trading session $174.05, low on the trading session $164.00, with a closing stock price at $174.05.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 1,674, declined stock prices 1,092, unchanged stock prices 155, stock prices hitting new highs 155 and stock prices hitting new lows 15. 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: Akamai Technologies (NasdaqGS: AKAM) stock price shed 1.72 points on the trading session, high on the trading session $20.38, low on the trading session $19.35, with a closing stock price at $19.83; Gilead Sciences (NasdaqGS: GILD) stock price gained 2.10 points on the trading session, high on the trading session $48.37, low on the trading session $46.03, with a closing stock price at $46.80; Research In Motion Limited (NasdaqGS: RIMM) stock price gained 10.17 points on the trading session, high on the trading session $60.95, low on the trading session $58.13, with a closing stock price at $59.26; Baidu (NasdaqGS: BIDU) stock price gained 2.58 points on the trading session, high on the trading session $190, low on the trading session $180.00, with a closing stock price at $187.50; First Solar (NasdaqGS: FSLR) stock price shed 4.02 points on the trading session, high on the trading session $137.65, low on the trading session $130.51, with a closing stock price at $134; Google (NasdaqGS: GOOG) stock price gained 7.48 points on the trading session, high on the trading session $371.72, low on the trading session $358.00, with a closing stock price at $369.98.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 275, declined stock prices 218, unchanged stock prices 110, stock prices hitting new highs 6 and stock prices hitting new lows 4.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) June 09: End of trading session price 841.25; Change for the trading session 5.75
E-mini NASDAQ-100 (NQ) June 09: End of trading session price 1,316; Change for the trading session 14.50
E-mini DOW $5 (YM) June 09: End of trading session price 7,985; Change for the trading session 27
E-mini S&P MidCap 400 (MF) June 09: End of trading session price 8,870; Change for the trading session 9.60

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7415 to U.S. Dollars 1.3487
Japanese Yen 100.25 to U.S. Dollars 0.0100
British Pound 0.6740 to U.S. Dollars 1.4837
Canadian Dollar 1.2311 to U.S. Dollars 0.8123
Swiss Franc 1.1313 to U.S. Dollars 0.8839

COMMODITY MARKETS:

Energy Sector – Nymex:
Light Crude (May 09) shed $0.13 on the trading session for a closing price of $52.51 per barrel ($US per barrel)
Heating Oil (May 09) gained $0.01 on the trading session for a closing price of $1.44 a gallon ($US per gallon)
Natural Gas (May 09) gained $0.02 on the trading session for a closing price of $3.81 per million BTU ($US per mmbtu.)
Unleaded Gas (May 09) shed $0.02 on the trading session for a closing price of $1.49 a gallon ($US per gallon)

Metals Markets – Comex:
Gold (June 09) shed $11.60 on the trading session for a closing price of $897.30 ($US per Troy ounce)
Silver (May 09) shed $0.29 on the trading session for a closing price of $12.74 ($US per Troy ounce)
Platinum (July 09) gained $0.50 on the trading session for a closing price of $1,166.30 ($US per Troy ounce)
Copper (May 09) gained $0.11 on the trading session for a closing price of $2.00 ($US per pound)

Livestock and Meat Markets – Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (June 09) gained 1.55 on the trading session for a closing price of 73.65
Pork Bellies (May 09) gained 1.03 on the trading session for a closing price of 88.83
Live Cattle (June 09) gained 1.18 on the trading session for a closing price of 84.18
Feeder Cattle (May 09) gained 1.05 on the trading session for a closing price of 96.70

Other Commodities – Chicago Board of Trade (cents per bushel):
Corn (May 09) gained 2.00 on the trading session for a closing price of 404.50
Soybeans (May 09) gained 18.50 on the trading session for a closing price of 997.00

BOND MARKET:
2 year Bond Closing price 99 27/32, change -4/32, Yield 0.95, Yield change 0.07
5 year Bond closing price of 99 11/32, change -20/32, Yield 1.88, Yield change 0.13
10 year Bond closing price 98 23/32, change -1 3/32, Yield 2.89, Yield change 0.12
30 year Bond closing price 96 15/32, change -1 24/32, Yield 3.69, Yield change 0.0107

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

Stocks Trading Room:  
Jeannie $6,040
Barry $8,167
Sam $1,704
Scott $3,092

Futures Trading Room:
JT $7,012.50
Marco $3,260

Forex Trading Room:
JT $0

Daily Swing Trades:
Barry $6,380

Thanks for reading
Millennium-Traders.Com
http://www.millennium-traders.com

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Forex Trading Training on Price Action

Price action analysis is a method for reading a “naked” price chart that will supply you with the necessary information to develop your own consistently profitable trading methodology. Notice I said method and not system. Mechanical systems tend to be very attractive to the beginning trader because they seem to make the process of trade entry and exit almost mindless and completely stress free. Well, the old saying “if it’s too good to be true, it probably is”, never fit more perfectly here. Systems, as they are commonly referred to, offer a strict set of predefined rules that do not offer the trader any discretion in their entry or exit points. Companies sell these systems to investors for thousands of dollars and promise they will earn their money back many times over. What they don’t tell you is that trading is NOT as easy as pressing a button with no thought or regard about what you are doing. Mechanical systems can never perform consistently over time because they do not give the trader any discretion to take into account ever changing market variables. What you need is a method, or a way to think about the market that puts it in context at any given moment in time, not just a frozen frame from history.

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