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Daily Market Commentary for July 16, 2008 from Millennium-Traders.Com

Crude oil sank lower today, losing 7.3 percent for the week amidst the
surge in the Stock Markets. Crude has not see such a one day dollar amount
decline in 17 years. (read more)
http://www.millennium-traders.com/news/newscommentary.aspx

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 gain of 276.01 points on
the day to end the trading session at 11,238.55
NYSE (New York Stock Exchange) triple digit gain of 174.91 points to end
the trading session at 8,332.71
NASDAQ gain of 69.14 points to end the trading session at 2,284.85
S&P 500 gain of 30.08 points to end the trading session at 1,244.99
FTSE All-World ex-U.S. gain of 2.07 points to end the trading session at
220.43
FTSE RAFI 1000 triple digit gain of 151.90 points to end the trading
session at 4,801.38
BEL 20 (BEL20) gain of 41.96 points to end the trading session at
2,905.40
CAC 40 (CAC40) gain of 51.3 points to end the trading session at 4,112.45
FTSE100 (UKX100) loss of 21.3 points to end the trading session at
5,150.6
NIKKEI 225 (NIK/O) gain of 6.24 points to end the trading session at
12,760.8

Market trends on the New York Stock Exchange (NYSE) today: advanced stocks
2,385; declined stocks 849; unchanged stocks 69; stocks hitting new highs
17; stocks hitting new lows 310. 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:
CONSOL Energy Incorporated (NYSE: CNX) shed 5.26 points on the trading
session, high on the trading session $100.79, low on the trading session
$89.24 for a closing stock price at $90.7 6; Chicago Bridge & Iron Company
(NYSE: CBI) shed 5.74 points on the trading session, high on the trading
session $31.04, low on the trading session $27.50 for a closing stock
price at $30.65; Wells Fargo & Company (NYSE: WFC) gained 6.72 points on
the trading session, high on the trading session $27.32, low on the
trading session $23.20 for a closing stock price at $27.23; United States
Steel Corporation (NYSE: X) shed 1.04 points on the trading session, high
on the trading session $157.30, low on the trading session $146.41 for a
closing stock price at $154.01; Cleveland-Cliffs Incorporated (NYSE: CLF)
shed 7.44 points on the trading session, high on the trading session
$106.89, low on the trading session $97.36 for a closing stock price at
$104.02; Occidental Petroleum Corporation (NYSE: OXY) shed 3.20 points on
the trading session, high on the trading session $80.13, low on the
trading session $75.25 for a closing stock price at $77.00; Alpha Natural
Resources Incorporated (NYSE: ANR) gained 10.01 points on the trading
session, high on the trading session $119.30, low on the trading session
$102.89 for a closing stock price at $104.93; Entergy Corporation (NYSE:
ETR) shed 2.67 points on the trading session, high on the trading session
$118.94, low on the trading session $114.94 for a closing stock price at
$115.61; CME Group Incorporated (NYSE: CME) gained 8.93 points on the
trading session, high on the trading session $331.02, low on the trading
session $300.86 for a closing stock price at $317.48; CF Industries
Holdings Incorporated (NYSE: CF) shed 0.23 points on the trading session,
high on the trading session $159.98, low on the trading session $151.00
for a closing stock price at $158.81; Walter Industries Incorporated
(NYSE: WLT) gained 8.37 points on the trading session, high on the trading
session $103.90, low on the trading session $92.33 for a closing stock
price at $100.83; Devon Energy Corporation (NYSE: DVN) shed 4.81 points on
the trading session, high on the trading session $106.94, low on the
trading session $99.96 for a closing stock price at $101.38; Rio Tinto plc
(NYSE: RTP) shed 8.45 points on the trading session, high on the trading
session $407.62, low on the trading session $397.14 for a closing stock
price at $407.25; Ultrashort Financial (NYSE: SKF) shed 45.58 points on
the trading session, high on the trading session $198.38, low on the
trading session $157.09 for a closing stock price at $158.33; Fannie Mae
(NYSE: FNM) gained 2.18 points on the trading session, high on the trading
session $9.68 low on the trading session $7.50 for a closing stock price at
$9.25; Potash Corporation Saskatchewan (NYSE: POT) shed 1.71 points on the
trading session, high on the trading session $224.81, low on the trading
session $215.91 for a closing stock price at $222.93; MasterCard
Incorporated (NYSE: MA) gained 20.83 points on the trading session, high
on the trading session $271.20, low on the trading session $250.82 for a
closing stock price at $271.20.

Market trends on the NASDAQ today: advanced stocks 2,252; declined stocks
723; unchanged stocks 105; stocks hitting new highs 33; stocks hitting new
lows 226.
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: Orion Energy Systems Incorporated (NasdaqGS:
OESX) shed 3.35 points on the trading session, high on the trading session
$6.00, low on the trading session $4.48 for a closing stock price at $5.24;
Navigators Group Incorporated (NasdaqGS: NAVG) shed 3.25 points on the
trading session, high on the trading session $48.27, low on the trading
session $43.46 for a closing stock price at $45.36; First Solar
Incorporated (NasdaqGS: FSLR) gained 13.47 points on the trading session,
high on the trading session $291.04, low on the trading session $282.00
for a closing stock price at $290.47.

Market trends on the American Stock Exchange (AMEX) today: advanced stocks
713; declined stocks 513; unchanged stocks 83; stocks hitting new highs 16;
stocks hitting new lows 98.

Chicago Board of Trade Futures Market activity for the day, September 2008
Contracts, at time of this posting:
E-mini S&P 500 (ES) end of day price 1,244.25, change 32.25
E-mini NASDAQ-100 (NQ) end of day price 1,846.25, change 47.25
E-mini S&P SmallCap 600 (SMP) end of day price 359.30, change 12.60
$5 DJIA (YM) end of day price 11,213, change 295

World Currencies at time of this posting:
Euro 0.6324 to U.S. Dollars 1.5813
Japanese Yen 105.16 to U.S. Dollars 0.0095
British Pound 0.5003 to U.S. Dollars 1.9988
Canadian Dollar 1.021 to U.S. Dollars 0.9979
Swiss Franc 1.0179 to U.S. Dollars 0.9824

Commodities Markets:
Energy Sector: Light Crude (NYM) shed $4.598 on the day for a closing
price of the range of $134.15 a gallon ($US per bbl.); Heating Oil (NYM)
shed $0.08 on the day for a closing price of $3.87 a gallon ($US per
gal.); Natural Gas (NYM) shed $0.08 on the day for a closing price of
$11.49 per million BTU ($US per mmbtu.); Unleaded Gas (NYM) shed $0.11 on
the day for a closing price of $3.27 a gallon ($US per gal.).

Metals Markets:
Gold Market Price (CMX) shed $16.00 on the day for a closing price of
$962.70 ($US per Troy oz.); Silver (CMX) shed $0.21 on the day for a
closing price of $18.81 ($US per Troy oz.); Platinum (NYM) shed $43.50 on
the day for a closing price of $1,938.40 ($US per Troy oz.) and Copper
(CMX) shed $0.05 on the day for a closing price of $3.65 ($US per lb.).

Livestock and Meat Markets (cents per lb.): Lean Hogs (CME) gained 1.55 on
the day for a closing price of 73.75; Pork Bellies (CME) gained 0.65 on the
day for a closing price of 66.38; Live Cattle (CME) shed 0.53 on the day
for a closing price of 106.35; Feeder Cattle (CME) shed 0.33 on the day
for a closing price of 111.13.

Other Commodities (cents per bu.): Corn (CBT) gained 10.50 on the day for
a closing price of 677.25 and Soybeans (CBT) gained 32.00 on the day for a
closing price of 1,548.00.

Bond action for the day: 2 year bond shed 4/32 on the day for a closing
price of 100 26/32 with a Yield of 2.44, Yield Change+0.08; 5 year bond
shed 19/32 on the day for a closing price of 100 22/32 with a Yield of
3.21, Yield Change +0.12; 10 year bond shed 1 4/32 on the day for a
closing price of 99 9/32 with a Yield of 3.96, Yield Change +0.14; the 30
year bond shed 2 7/32 on the day for a closing price of 96 11/32 with a
Yield of 4.60, Yield Change +0.14.

Department Of Energy released crude oil inventories today: U.S. Gasoline
Stockpiles increased by 2.4 Million Barrels to 214.2 Million Barrels;
U.S. Distillate Stockpiles increased by 3.2 Million Barrels to 125.7
Million Barrels; U.S. Refineries ran at 89.5% versus 89.2% week ago; U.S.
Gasoline Stockpiles increased by 2.4 Million Barrels in the week compared
to expectations of a drop by 200,000 Million Barrels; U.S. Distillate
Stockpiles increased by 3.2 Million Barrels in the week compared to
expectations of an increase by 1.5 Million Barrels; U.S. Refineries ran at
89.5% capacity seen unchanged at 89.2%.

U.S. June Industrial Production rose 0.5% compared to consensus of an
increase by 0.2%; U.S. June Capacity Utilization rose 0.3 percent at 79.9%
compared to consensus of 79.4%; U.S. May Capacity Use revised to 79.6%
from 79.4%; U.S. May Industrial Production unrevised at a drop by 0.2%.

U.S. June Consumer Prices rose 1.1% compared to consensus of an increase
by 0.7%; U.S. June CPI Ex-Food & Energy rose 0.3% compared to consensus of
an increase by 0.2%; U.S. June CPI Unrounded rose 1.056%; U.S. June CPI
Core rose 0.323%; U.S. June CPI Energy Prices rose 6.6%; U.S. June CPI
Food Prices rose 0.7%; U.S. Real Average Weekly Earnings fell 0.9% in
June; U.S. CPI rise largest since June 1982; U.S. CPI rose 5% on the year
resulting in the largest increase since May 1991.

Federal Open Market Committee Minutes: sees `modest` 1h growth, `slight
slowdown` in second half 2008; growth risks diminishing, inflation risks
rising; still sees `significant downside risks` to growth; sees next
policy change likely to be rate hike; minutes signal no change in rates in
near term.

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