Waiting for Data

by Larry Levin

Today's economic-data landscape was barren, not a single piece of news to spin. Therefore, the news of the day, even on financial shows, was the "racy" photo of Hanna Montana in Vanity Fair. Yawn!

Today was the only day we will not see economic data, the rest of the week is loaded with the stuff. Tomorrow morning we will get a reading on the retail sector of the economy before the open. After the market opens, another round of depressing consumer confidence data will be reported.

The most important days will be Wednesday and Friday. Wednesday brings early looks at Q1 GDP, then the FOMC rate decision. Friday's data is the all important monthly jobs data and unemployment rate. Is it rising?

Eli Broad, co- founder of KB Home, apparently doesn't agree with "the housing bottom is in" crowd. He said today that he expects home prices to drop another 20%.

"I don't think we're anywhere near a bottom in housing," Broad told Bloomberg TV at the Milken Institute Conference in Beverly Hills , California . "We're going to have a big inventory of unsold, unoccupied homes that's going to take three or four years to clear out."

Real Time Trading Signals*for

Trade Date: 4/28/08

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


1) VA sell @ 8:30am at 1400.75 = +1.75 & +4.75

2) Engf sell @ 9:05am at 1397.75 = -.25 (1 lot)

3) VA buy @ 9:55am at 1400.25 = +1.00 & -2.00

4) 80% sell @ 10:40am at 1399.75 = b/e & -1.50

5) TP buy @ 12:00pm at 1401.75 = +1.50 (1 lot)

6) Engf sell @ 1:15pm at 1403.00 = +1.25 (1 lot)

7) Engf buy @ 1:30pm at 1402.00 = -.50 (1 lot)

8) VA buy @ 2:20pm at 1400.00 = -1.25 (1 lot)

9) Algorithm trades (1)...combined total...+4.75

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

1) Sell @ 8:50am at 719.8 = -1.3 (1 lot)

2) Buy @ 9:23am at 721.1 = +1.0 & b/e

3) Buy @ 12:15pm at 724.4 = +.6 (1 lot) ...+$30


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