Citi Not Looking Good!

by Larry Levin

We may be coming up on a holiday, but the market wasn't taking a holiday as far as the selling was concerned. We watched as the S&P futures market moved sharply lower on the news of the day:

Citi-Group was downgraded to a sell (from neutral) and that was enough to get us easily below the 1450 level and stay below it all day.

In fact, the Dow was down over 200 points for a good amount of time today and there was plenty of selling taking place in the stock index futures here at the CME.

Another thing to watch for will be the FOMC minutes that come out at 1:00 p.m. tomorrow. It's definitely something traders will be watching closely, especially because the next Fed meeting isn't that far away (The next meeting is December 11th.)

Real Time Trading Signals*for

Trade Date: 11/19/07

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

9:17 ID VA Sell 50.00 = +.75, b/e

12:16 FT Sell 38.00 = -1.50 all

1:33 OTF Sell 39.25 = -1.50 all

1:50 ENG Sell 42.75 = +.75, -1.25

2:02 Ft Buy 39.25 = +.75, -1.50


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


1) Buy @ 10:55am at 752.7 = -1.2, -1.2, -1.2

2) Sell @ 11:02am at 752.5 = -1.1 & -1.1

3) Sell @ 11:59am at 752.2 = +1.0, +2.2, +2.1

4) Sell @ 12:25pm at 750.1 = -.8 (1 lot)

5) Sell @ 12:38pm at 751.3 = b/e, +1.0

6) Buy @ 2:02pm at 752.4 = +1.0 & +1.6

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