Giving Back!

by Larry Levin

Today we opened up quite strong in the S&P pit. The market opened up around 10 points higher (on solid earnings), and what did we do the whole rest of the day? We spent the whole rest of the day breaking (moving lower).

But once again there was strong buying into the close by institutional trading firms and we moved off the lows nicely.

The thing to worry about the rest of this week is the earnings situation. If earnings continue to exceed expectations then we can move back up. If not, don't be surprised to see this market get back below the 1550 level again.

Real Time Trading Signals*for

Trade Date: 10/17/07

E-Mini S&P Trades*
(before fees and commissions):

8:50 FT Buy 56.25 =+.75, +.50, b/e

11:10 ENG Sell 54.50 = b/e all

11:22 VA Buy 51.75 = -1.50 all

1:40 OTF Sell 39.75 = b/e all

1:44 IDVA Sell +.75, +2.50, +1.50

2:22 ENG Buy 46.00 = -1.75 all

E-Mini Russell Trades*
(before fees and commissions):

1) Buy @ 8:32am at 835.6 = +.5, +1.2, -.6

2) Buy @ 8:58am at 834.9 = -.7, -1.3, -1.3

3) Buy @ 9:23am at 834.5 = +.5, -1.0, -1.0

4) Sell @ 9:49am at 831.5 = +.5 & b/e

5) Buy @ 11:01am at 832.1 = +.4, +.4, +.4

6) Buy @ 12:42pm at 824.1 = +.3, -.3, -1.4

7) Sell @ 1:00pm at 820.6 = +.5, b/e, -.7

8) Sell @ 1:09pm at 822.1 = b/e, b/e, b/e

9) Buy @ 1:14pm at 821.4 = +.5, b/e, -.5

10) Sell @ 1:18pm at 821.7 = b/e & -.6

11) Buy @ 1:24pm at 821.7 = b/e, +.7, -.2

12) Sell @ 1:39pm at 820.7 = -.7, -1.4, -1.4

13) Sell @ 1:54pm at 821.0 = -1.2 & -1.2

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