Recovered, For Now!

by Larry Levin

No big surprise today as the market got some short covering out of the way. Two things caused this market to recover today. First a lot of people stayed short over the weekend (myself included) to see if this market would keep going down. When it didn't a lot of people starting buying it up to get out of those short positions.

Secondly everyone knew Apple was going to beat expectations with their earnings and thus it wasn't surprising to see some people looking to buy the stock indexes cheap before those were announced.

Don't be surprised to see us get back below the 1500 level in the S&P's and see if more sellers come back in. I love markets that move lower!

Real Time Trading Signals*for

Trade Date: 10/22/07

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

8:32 B/A Sell 95.75 = -1.50 all

8:54 FT Sell 05.50 = -1.75 all

10:15 TP Buy 99.25 = +.75, +2.75, +5.25

1:38 ID VA Sell 98.75 = -1.50 all

1:46 FT Sell 99.50 = +.75, +1.75, +2.25

1:28 ID VA Buy 22.50 = +.75, b/e,b/e


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

1) Buy @ 8:31am at 791.9 = -1.3 & -1.3

2) Buy @ 8:48am at 795.1 = +.5 & +2.5

3) Buy @ 8:59am at 800.9 = b/e (1 lot)

4) Buy @ 9:48am at 800.9 = -1.2 & -1.2

5) Sell @ 10:29am at 801.1 = -1.1, -1.1, -1.1

6) Buy @ 11:00am at 804.3 = -.9 (1 lot)

7) Sell @ 1:31pm at 810.7 = +.7 & +.3

8) Sell @ 1:54pm at 809.3 = +.5, +1.5, +1.5

9) Sell @ 2:19pm at 808.6 = +1.0 (1 lot)

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