Flip-Flop!

by Larry Levin


We sure had a “flip-floppy” market today! I’m not sure it flipped more like a candidate selling his/her soul for a vote, or if it flopped more like a fish out of water? At any rate, we experienced all sorts of back and forth action today.

Early in the session the S&P traded violently in a tight range. The early net result was a higher market, but “flipped” the higher prices for a “flop” to new lows. But the indices didn’t stay at those lower levels for long. From a 1385.00 trade, nearly 12.00-handles below yesterday’s close; the market staged a very strong (31.50-handle) rally. Hmmm, the market made a strong rally... from new lows, eh? I could have sworn I heard of that possibility just yesterday. ;-)

Anyhow, I don’t think we should confuse this with a true bottom (yet). The shorts could easily cover more positions taking the S&P to a minimum of 1446.00, and possibly 1460.00 with a little Fed-speak help. When we see another test of the bottom, support would likely come in between 1369.00 & 1374.50.

Trade well and follow the trend, not the so-called “analysts/experts.”

Real Time Trading Signals*for

Trade Date: 1/09/08

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



8:46 ID VA BUy 01.25 = +.75, b/e

9:06 ID VA BUy 03.25 = +.75, +2.00, +.75

10:32 ID VA Buy 98.00 = -1.75 all

11:01 FT Sell 4.75 = +.75, b/e

11:12 ID VA Sell 97.75 = +.75, +.25, +.25

11:19 ID VA BUy 97.75 = -1.50 all

1:39 ID VA Buy 94.00 = -1.00, -1.50

1:44 FT Buy 01.00 = +.75, +4.00, +9.75

2:11 FT Buy 07.00 = -1.75 all

2:30 FT Buy 1.50 = +.75, +2.00, +7.00

2:46 MD BUy 11.00 = +.75, b/e

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


1) Sell @ 8:31am at 705.7 = +.5 & +.4

2) Sell @ 8:35am at 704.7 = +.5 & -.6

3) Buy @ 8:45am at 708.2 = +.5, +1.0, b/e

4) Buy @ 8:52am at 706.6 = -1.0 & -1.0

5) Sell @ 8:56am at 707.0 = -1.0 & -1.0

6) Buy @ 9:04am at 708.4 = +.5, +1.5, -.7

7) Buy @ 9:12am at 708.8 = b/e (1 lot)

8) Buy @ 9:20am at 707.1 = -1.2 & -1.2

9) Sell @ 9:32am at 707.5 = +1.5 (1 lot)

10) Sell @ 9:38am at 706.0 = -1.1 (1 lot)

11) Sell @ 9:53am at 706.9 = -.6 & -1.4

12) Sell @ 10:06am at 707.9 = +1.4 & b/e

13) Buy @ 10:25am at 706.9 = -1.2 & -1.2

14) Sell @ 12:36pm at 699.5 = +.5 & +2.4

15) Sell @ 1:30pm at 697.0 = -1.2 & -1.2

16) Buy @ 1:43pm at 697.0 = b/e, +.8, +3.7

17) Buy @ 1:55pm at 702.8 = +.5 & +6.4

18) Buy @ 2:11pm at 708.8 = -.9 (1 lot)

19) Buy @ 2:20pm at 708.7 = +2.5 (1 lot)

20) Buy @ 2:27pm at 710.0 = -1.2 (1 lot)

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