Up, down – repeat.

by Larry Levin


Today’s market was something of a roller-coaster ride: up & down, then up again…repeat. Traders were out early trying to buy a new low below Friday’s huge sell off. However, the ensuing rally just couldn’t hold.

There were a few things keeping the market from sustaining its 20.00-rally from the early low, one of which is the increasing fears of recession. Although this is not new, it could hang over the market for quite some time and keep rallies limited. Today’s new news came from international waters near Iran . The U.S. military said five Iranian gunboats “harassed” three naval ships, prompting a warning from the White House and increased nervousness in the markets.

President Bush gave a speech here in Chicago today. Although he said economic signals are coming out mixed, creating anxiety for Americans, the economy is still in good shape overall and the US has weathered bad times before. Adding to the “mixed” signals would be what Atlanta Fed president said: negatives in the economy are picking up speed and market contacts are worried about further deterioration.

It looks like this will continue unless earnings season can improve the outlook. However, even if companies beat the estimates it may not matter compared to their outlooks for their firms and the economy in general.

Real Time Trading Signals*for

Trade Date: 1/07/08

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

9:05 ID VA Buy 24.25 = +.75, -1.50, -1.50

9:18 VA Buy 19.75 = -1.75 all

10:12 VA Buy 19.25 = +.75, b/e, b/e

10:48 ID VA Buy 26.25 = -1.25 all

12:36 OTF Buy 6.00 = +.75, b/e

1:48 VA Buy 19.50 = -1.75 all

1:55 ID VA Sell 15.50 = -1.75 all

2:03 VA Sell 19.00 = +.75, +.50, +3.00

2:19 ID VA Buy 15.75 = +.75, +1.00, b/e

2:32 ID VA Sell 15.75 = +.75, b/e

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


1) Buy @ 8:54am at 729.1 = -.8, -.8, -.8

2) Buy @ 9:57am at 720.3 = +.5 & +2.5

3) Buy @ 10:06am at 721.6 = +.5 & +2.2

4) Buy @ 10:21am at 724.5 = +1.7 (1 lot)

5) Buy @ 10:41am at 728.4 = +3.6 (1 lot)

6) Buy @ 10:49am at 730.6 = b/e (1 lot)

7) Sell @ 11:17am at 727.7 = -.3 & -1.1

8) Buy @ 12:02pm at 732.4 = -1.1 & -1.1

9) Buy @ 12:29pm at 732.4 = +.5 & b/e

10) Buy @ 12:42pm at 729.8 = -1.1 & -1.1

11) Sell @ 12:58pm at 730.1 = -1.1 & -1.1

12) Sell @ 2:02pm at 726.2 = +.5 & +.5

13) Buy @ 2:07pm at 724.2 = +.5 & +1.0

14) Buy @ 2:12pm at 724.5 = +.5 & -1.0

15) Sell @ 2:18pm at 724.1 = +1.0 & +.5

16) Buy @ 2:59pm at 726.8 = +2.4 (1 lot)

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