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Daily Market Commentary for November 7, 2008 from Millennium-Traders.Com

The U.S. unemployment rate hit a 14-year high as the U.S. economy lost 240,000 job in October! (read more)

http://www.millennium-traders.com/news/newscommentary.aspx

Economic data released today:

Employment Situation:

U.S. October Nonfarm Payrolls fell by 240K as compared to consensus of a drop by 200K; U.S. October Unemployment Rate came in at 6.5 percent as compared to consensus of rate of 6.3 percent; U.S. October Average Hourly Earnings increased by $0.04 to $18.21; U.S. October Manufacturing Payrolls fell by 90K; U.S. October Service-Producing Payrolls  fell by 108K; U.S. October Overall Workweek change by 0 Hours to 33.6 Hours; U.S. September Payrolls Revised to a drop by 284K from a drop by 159K which is the highest Since 2001; U.S. September Unemployment left Unrevised at 6.1 percent; U.S. Jobless Rate Highest since March 1994.

Wholesale Trade:

U.S. September Wholesale Inventories fell 0.1 percent compared to expected increase by 0.4 percent.

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 248.10 points on the day to end the trading session at 8,943.89

NYSE (New York Stock Exchange) triple digit gain of 203.52 points to end the trading session at 5,870.92

National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 38.70 points to end the trading session at 1,647.40

S&P 500 gain of 25.87 points to end the trading session at 930.75

FTSE All-World excluding U.S. gain of 3.32 points to end the trading session at 151.06

FTSE RAFI 1000 gain of 64.93 points to end the trading session at 3,569.75

BEL 20 (BEL20) gain of 23.72 points to end the trading session at 2,156.59

CAC 40 (CAC40) gain of 81.87 points to end the trading session at 3,469.12

FTSE100 (UKX100) gain of 92.55 points to end the trading session at 4,364.96

NIKKEI 225 (NIK/O) triple digit loss of 316.14 points to end the trading session at 8,583.00

New York Stock Exchange (NYSE) stock market indicators for the day:

Advanced stock prices 2,161, declined stock prices 992; unchanged stock prices 87; stock prices hitting new highs 4 and stock prices hitting new lows 106. 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: Fluor Corporation (NYSE: FLR) stock price gained 7.02 points on the trading session, high on the trading session $43.99, low on the trading session $38.67 with a closing stock price at $41.03; Transocean Incorporated (NYSE: RIG) stock price gained 1.26 points on the trading session, high on the trading session $77.74, low on the trading session $74.03 with a closing stock price at $77.11; Ultrashort Financial ProShares Corporation (NYSE: SKF) stock price shed 6.48 points on the trading session, high on the trading session $148.35, low on the trading session $136.44 with a closing stock price at $137.85; Goldman Sachs Group Incorporated (NYSE: GS) stock price shed 2.94 points on the trading session, high on the trading session $81.85, low on the trading session $75.00 with a closing stock price at $77.78; CME Group Incorporated (NYSE: CME) stock price gained 10.06 points on the trading session, high on the trading session $269.36, low on the trading session $252.62 with a closing stock price at $269.70; Potash Corporation Saskatchewan (NYSE: POT) stock price gained 1.49 points on the trading session, high on the trading session $82.80, low on the trading session $78.32 with a closing stock price at $80.48; MasterCard Incorporated (NYSE: MA) stock price gained 4.43 points on the trading session, high on the trading session $151.71, low on the trading session $142.00 with a closing stock price at $147.73.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators today:

Advanced stock prices 1,779; declined stock prices 1,080; unchanged stock prices 122; stock prices hitting new highs 3; stock prices hitting new lows 177. 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: Fuel Systems Solutions Incorporated (NasdaqGS: FSYS) stock price gained 11.98 points on the trading session, high on the trading session $39.41, low on the trading session $30.22 with a closing stock price at $38.69; True Religion Apparel Incorporated (NasdaqGS: TRLG) stock price shed 0.76 points on the trading session, high on the trading session $17.60, low on the trading session $13.72 with a closing stock price at $15.09; Priceline.com Incorporated (NasdaqGS: PCLN) stock price gained 7.53 points on the trading session, high on the trading session $57.55, low on the trading session $49.98 with a closing stock price at $54.60; Qualcomm Incorporated (NasdaqGS: QCOM) stock price gained 2.82 points on the trading session, high on the trading session $36.44, low on the trading session $34.07 with a closing stock price at $35.87; Google Incorporated (NasdaqGS: GOOG) stock price gained 2.78 points on the trading session, high on the trading session $341.15, low on the trading session $325.33 with a closing stock price at $334.00.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for today:

Advanced stock prices 442; declined stock prices 393; unchanged stock prices 69; stock prices hitting new highs 4 and stock prices hitting new lows 19.

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 936.50 change 32.00

E-mini NASDAQ-100 (NQ) end of day price 1,287.50 change 47.00

E-mini S&P SmallCap 600 (SMP) end of day price 272.70 change 6.20

$5 DJIA (YM) end of day price 8,990 change 290

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:

Euro 0.7847 to U.S. Dollars 1.2744

Japanese Yen 98.420 to U.S. Dollars 0.0102

British Pound 0.6386 to U.S. Dollars 1.566

Canadian Dollar 1.1879 to U.S. Dollars 0.8418

Swiss Franc 1.1780 to U.S. Dollars 0.8489

Commodity Markets:

Energy Sector: Light Crude (NYMEX: NYM) gained $0.27 on the day for a closing price of $61.04 a barrel ($US per barrel)

Heating Oil (NYMEX: NYM) gained $0.04 on the day for a closing price of $1.98 a gallon ($US per gallon)

Natural Gas (NYMEX: NYM) shed $0.23 on the day for a closing price of $6.97 per million BTU ($US per mmbtu.)

Unleaded Gas (NYMEX: NYM) gained $0.01 on the day for a closing price of $1.35 a gallon ($US per gallon)

Metals Markets:

Gold Market Price (COMEX: CMX) gained $2.00 on the day for a closing price of $7324.20 ($US per Troy ounce)

Silver (COMEX: CMX) shed $0.09 on the day for a closing price of $9.96 ($US per Troy ounce)

Platinum (NYMEX: NYM) gained $13.70 on the day for a closing price of $852.00 ($US per Troy ounce)

Copper (COMEX: CMX) shed $0.03 on the day for a closing price of $1.70 ($US per pound)

Livestock and Meat Markets (cents per lb.):

Lean Hogs (Chicago Mercantile Exchange: CME) gained 0.58 on the day for a closing price of 55.40

Pork Bellies (Chicago Mercantile Exchange: CME) gained 2.30 on the day for a closing price of 86.10

Live Cattle (Chicago Mercantile Exchange: CME) shed 0.50 on the day for a closing price of 92.80

Feeder Cattle (Chicago Mercantile Exchange: CME) gained 0.25 on the day for a closing price of 99.23

Other Commodities (cents per bushel):

Corn (Chicago Board of Trade: CBT) shed 2.50 on the day for a closing p
rice of 375.500

Soybeans (Chicago Board of Trade: CBT) gained 15.00 on the day for a closing price of 921.00

Bond Market:

2 year bond shed 3/32 on the day for a closing price of 100 10/32 with a Yield of 1.32, Yield Change 0.03

5 year bond shed 13/32 on the day for a closing price of 100 29/32 with a Yield of 2.55, Yield Change 0.09

10 year bond shed 21/32 on the day for a closing price of 101 26/32 with a Yield of 3.77, Yield Change 0.08

30 year bond shed 25/32 on the day for a closing price of 104 25/32 with a Yield of 4.24, Yield Change 0.05

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

Stocks Trading Room: 

Jeannie $7,409

Barry $9,262

Sam $4,643

Futures Trading Room:

JT $3,460

James $2,960

Forex Trading Room:

JT $12,600

Daily Swing Trades:

Barry $13,920

Weekly Swing Trades:

Jeannie $710.00

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Thanks for reading

Millennium-Traders.Com

http://www.millennium-traders.com

The foreign exchange market is also known as the FX market, and the forex market.

Trading that takes place between two counties with different currencies is the basis for the fx market and the background of the trading in this market. The forex market is over thirty years old, established in the early 1970′s. The forex market is one that is not based on any one business or investing in any one business, but the trading and selling of currencies.

Natalia Osorio Editor of the “Best Forex Trading” website — http://www.BestForexTradingUsa.com — pointed out;

“…The difference between the stock market and the forex market is the vast trading that occurs on the forex market. There is millions and millions that are traded daily on the forex market, almost two trillion dollars is traded daily. The amount is much higher than the money traded on the daily stock market of any country. The forex market is one that involves governments, banks, financial institutions and those similar types of institutions from other countries…”

What is traded, bought and sold on the forex market is something that can easily be liquidated, meaning it can be turned back to cash fast, or often times it is actually going to be cash. From one currency to another, the availability of cash in the forex market is something that can happen fast for any investor from any country.

The difference between the stock market and the forex market is that the forex market is global, worldwide. The stock market is something that takes place only within a country. The stock market is based on businesses and products that are within a country, and the forex market takes that a step further to include any country.

The stock market has set business hours. Generally, this is going to follow the business day, and will be closed on banking holidays and weekends. The forex market is one that is open generally twenty four hours a day because the vast number of countries that are involved in forex trading, buying and selling are located in so many different times zones. As one market is opening, another countries market is closing. This is the continual method of how the forex market trading occurs.

“…The stock market in any country is going to be based on only that countries currency, say for example the Japanese yen, and the Japanese stock market, or the United States stock market and the dollar. However, in the forex market, you are involved with many types of countries, and many currencies. You will find references to a variety of currencies, and this is a big difference between the stock market and the forex market…” N. Osorio added.

Further Information About The Best Forex Trading Softwares And Resources  By Visiting; http://www.BestForexTradingUsa.com

The market today began in the 1970′s. FOREX is a very unique market because it is not based in any particular place, and it also has very few qualifications for investing. FOREX is also free of external controls, and the investors (participants in the market) largely determine how much a currency is worth based on demand. Almost anyone can invest in FOREX, and there are strategies for investors who want to have long-term gains, and strategies for investors who desire short-term gains. The vast array of investors makes FOREX quite unique in the financial community.

The Workings of FOREX

FOREX is not centered at one place like the NYSE. The specific hours for FOREX trade are 24 hours a day from Sunday afternoon to Friday afternoon. FOREX transactions can take place at almost any time, anywhere, all over the world. There are FOREX dealers in almost all of the time zones, and it is simple to find them. Many dealers can be found online. All an investor does is decide what currency he or she wants to purchase, contact the dealer, and then makes the purchase. Many investors purchase using a credit line (money they do not have). This is called marginal trading.

What is Marginal Trading?

Marginal trading is a term used for trading with borrowed capital. FOREX investments can be made without actually having the money. All an investor needs to do is borrow the money for a certain currency. The investor wants to choose a currency that will increase in value quite rapidly. Once the currency increases, the investor pays back the money he or she borrowed and makes sheer profit. This is a high-risk investment, but the rewards are great (as with most high risk investments).

Two Types of FOREX Analytics

FOREX traders often have to analyze the market. Like all investments, FOREX involves a certain amount of calculated risk. Two ways to calculate these risks are though Technical Analysis and Fundamental Analysis.

Technical Analysis is based on the idea that trends through history will continue. A FOREX investor will notice that a certain currency is very strong and seems to be rising at a normal rate. The same investor will also suppose that the currency will not decline in value, and will continue to rise, as it has done in the past. The investor then purchases a large amount of that currency and expects to make a profit. This investment entails a large assumption but is relatively safe.

Fundamental Analysis is an analysis of an entire countries situation. Investors utilizing this technique look at the situation of the country in which the currency finds its base. Factors such as the countries economic status, political status, and global status are taken into account. For example, a Fundamental Analysis investor would not invest in currency from a country that just overthrew its leader and is in political shambles. Although this investment seems logical, it does not take into account one of the fundamental elements of FOREX trading. FOREX currency values are largely determined by the investors. That being said, Fundamental Analysis assumes that other FOREX traders will view a countries situation in the same way and respond accordingly.

Benefits of FOREX

FOREX can be very beneficial to a variety of people. FOREX trading can gain investors a large amount of money either over a long period of time, or in a short period of time. Investors who choose to invest in FOREX are generally well informed about the market and understand the current situations in many countries of the world. Investing in FOREX is simple and highly recommended for anyone who wants to enjoy profits from top-notch investments.