Slow

by Larry Levin

Today was dead, as in doornail-dead! The entire range was hardly 10-points and within that 10-point range, 70% of the volume traded in an amazingly narrow 6-point range.

To say it was a slow, choppy, low volume trendless day hardly does it justice. It was maddeningly lame! However, when it is this slow the market often rewards our patience the following day with exceptionally good action. Be prepared at the open.

Yes I expect something to cause nice action Wednesday, but there may be a fly in the ointment. In fact, there may be two. The first fly in the ointment may be Thursday's announcement from Tax-Cheatin-Timmy's so-called "stress tests" and the other would be Friday's monthly employment data. These important events may indeed keep tomorrow calmer than would be otherwise.



Previous Day's Trading Room Results:

Trade Date: 5/5/09

E-Mini S&P Trades*
(before fees and commissions):
1) B/away buy @ 8:30am at 902.50 = +2.00 (1 lot)

2) Engf sell @ 9:10am at 901.50 = -1.25 (1 lot)

3) VA buy @ 9:30am at 898.00 = -1.25 (1 lot)

4) VA sell @ 10:30am at 898.50 = -0.50 (1 lot)

5) VA buy @ 11:10am at 898.50 = +0.75 (1 lot)

6) Engf sell @ 11:50am at 897.00 = -0.75 (1 lot)

7) VA sell @ 12:00pm at 898.75 = +2.00 (1 lot)

8) OTF sell @ 1:10pm at 898.00 = b/e (1 lot)

9) Algorithm positions (1)...combined Secret's and Algo total...-0.25


Electronic (YM) Mini-Dow:

1) None today



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