by Larry Levin
A very interesting drop in the S&P 500 (and the other stock indexes) took place on Wed. The S&P futures were stuck in a 10 point range all day and then in the last 40 minutes the S&P's dropped 20 points.
What's up with that you ask? I'll tell ya? This market is on some seriously shaky ground.
Granted we've rallied nicely over the last couple of days. But mark my words: Another headline about "writedowns, credit issues, or maybe even housing, and we will be back down at the 1450 level in the S&P in a heartbeat!!!
In particular I would watch the 1480 level in the December S&P futures contract. That is the key resistance that I'll be watching on Thursday! Keep an eye on it!
Real Time Trading Signals*for
Trade Date: 11/14/07
E-Mini S&P Trades*
(before fees and commissions):
9:10 FT Buy 86.00 = +.75, +4.00, +3.00
10:47 OTF Sell 88.75 = -1.50 all
11:03 TP Sell 90.25 = +.75, b/e, b/e
1:03 ID VA Buy 86.25 = +.75, +2.75, +3.25
E-Mini Russell Trades*
(before fees and commissions):
1) Buy @ 9:11am at 790.1 = +1.0, +1.3, +1.4
2) Sell @ 9:16am at 791.5 = +.5 & b/e
3) Sell @ 9:39am at 789.6 = +.5 (1 lot)
4) Sell @ 10:47am at 789.4 = b/e (1 lot)
5) Buy @ 11:06am at 788.8 = +.5, +1.0, +1.0
6) Buy @ 11:57am at 788.9 = -.2 & +.2
7) Sell @ 12:12pm at 789.7 = +.5 & b/e
8) Buy @ 12:39pm at 789.1 = +.7 (1 lot)
9) Sell @ 1:04pm at 787.8 = b/e, +.5, -1.1
10) Sell @ 1:13pm at 789.3 = b/e (1 lot)
11) Sell @ 1:28pm at 790.0 = +1.0 (1 lot)
12) Sell @ 1:36pm at 789.3 = +.5 & b/e
13) Buy @ 1:42pm at 789.2 = -.4 & -1.1
14) Sell @ 2:05pm at 786.7 = -.2 & b/e
15) Sell @ 2:23pm at 787.9 = b/e & b/e
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