Testing Levels!

by Larry Levin

This upcoming week should be very interesting as it comes when the S&P futures contract sits at the bottom of its recent range.

We should certainly make another test down to the 1450 level in the December S&P futures contract. It will be interesting to see if we get more buyers around that level again. But this time it's a little different...

Because this time when we go down and test the 1450 level it will be during a holiday shortened week when the volume will be cut in half. What does that mean for you?

Well even more than lately, the market will gyrate around like a flying asteroid and the risk will be huge. At least it will be the first couple of days this week.

I'm quite certain we will get below the 1450 level, I'm just not sure if this market can hold up this time around (especially with the holiday type volume.)

Real Time Trading Signals*for

Trade Date: 11/16/07

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

10:11 FT Buy 55.00 = +.75, +.50, +.50

1:26 ID VA Sell 54.00 = +.75, b/e, b/e

1:28 ID VA Sell 54.00 = -1.50 all

1:35 ID VA Buy 53.50 = -1.50 all

2:44 OTF Sell 55.75 = -1.50 all


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

1) Sell @ 8:49am at 771.7 = +2.0 (1 lot)

2) Buy @ 9:20am at 764.2 = +1.0 & +.5

3) Sell @ 9:30am at 763.6 = b/e (1 lot)

4) Sell @ 9:38am at 762.6 = -1.0 (1 lot)

5) Buy @ 9:45am at 762.8 = +.5, +1.6, +3.0

6) Buy @ 10:10am at 767.8 = +.4 (1 lot)

7) Buy @ 10:28am at 765.1 = +.5 & +1.8

8) Buy @ 10:39am at 767.0 = +1.0 (1 lot)

9) Buy @ 10:44am at 766.6 = +5.0 (1 lot)

10) Buy @ 10:59am at 769.9 = +2.0 (1 lot)

11) Buy @ 11:22am at 774.0 = -.9 (1 lot)

12) Buy @ 1:24pm at 763.8 = +1.0 (1 lot)

13) Sell @ 1:47pm at 764.0 = -.9 (1 lot)

14) Sell @ 1:57pm at 763.4 = -1.0 (1 lot)

15) Buy @ 2:13pm at 764.8 = +1.0 & b/e

16) Sell @ 2:26pm at 765.1 = +.5 & -1.2

17) Sell @ 2:39pm at 764.7 = -1.1, -1.1, -1.1


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