by Larry Levin
Don't be surprised to see this market drift higher to pyschological levels (like 1550 in the S&P Futures). This market's risk is definitely on the upside and people are buying more than selling.
Why is the risk to the upside? Here's why: Everyone knows the Fed is going to cut rates on Wednesday, it's just a question of how much.
If it's a 1/4 point we may see this market go lower. But if it's a 1/2 point well then this market is going to the moon (like last time.)
So the risk is to the upside. And that's why this market will drift higher until Fed time.
Real Time Trading Signals*for
Trade Date: 10/29/07
E-Mini S&P Trades*
(before fees and commissions):
9:10 ID VA BUy 45.75 = +.75, b/e
9:20 FT Buy 43.25 = +.75, +1.75, +.50
10:07 OTF Sell 45.50 = b/e all
1:12 OTF Buy 46.25 = b/e all
2:05 ID VA Buy 46.75 = +.75, +1.00, +2.00
E-Mini Russell Trades*
(before fees and commissions):
Not Available Today.
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