by Larry Levin
The first week of 2008 is now in the history book and what a week it has been. The NASDAQ Composite plummeted a bruising 6.3%, due in no small part to Friday's near-triple-digit sell-off, while the Dow industrials fell 4.3% and the S&P 500 declined 4.5%. If you believe in the old saying, “As the first week of January goes, so goes the year” then stocks will be a rough ride this year for the bulls.
Last week’s big report came out on Friday: the monthly jobs data. Stocks slid after the government reported the unemployment rate shot up to 5% as job growth stalled in December. The economy added only 18,000 payrolls, the weakest job growth since August 2003 and far below economists' forecasts. In fact, if it wasn’t for government job creation the payroll data would have been negative.
Real Time Trading Signals*for
Trade Date: 1/04/08
E-Mini S&P Trades*
(before fees and commissions):
No Trades Today
E-Mini Russell Trades*
(before fees and commissions):
1) Sell @ 8:31am at 739.4 = +.5 & +1.4
2) Sell @ 8:40am at 734.1 = -.6 (1 lot)
3) Buy @ 9:01am at 736.1 = -.7 & -.7
4) Sell @ 9:04am at 736.1 = +.5 & +.3
5) Sell @ 9:34am at 733.0 = +1.0 (1 lot)
6) Buy @ 10:38am at 730.0 = +1.1 (1 lot)
7) Buy @ 11:17am at 732.5 = -1.0 & -1.0
8) Sell @ 1:08pm at 729.8 = +.5, b/e, +1.2
9) Sell @ 1:16pm at 728.3 = +.5 & +1.9
10) Sell @ 1:46pm at 724.3 = +.6 (1 lot)
11) Sell @ 2:00pm at 726.7 = +2.0 (1 lot)
12) Buy @ 2:09pm at 726.2 = +.5 & +1.1
13) Buy @ 2:14pm at 726.1 = b/e & b/e
14) Sell @ 2:16pm at 726.4 = -1.0 (1 lot)
15) Buy @ 2:33pm at 727.9 = +.3 & b/e
16) Buy @ 2:48pm at 726.1 = -.1 & -.6
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