Russell 1-9-07 and 1-10-07

Yesterday's market was rangebound until after 8:00 a.m. but I still managed to scalp a few decent trades. Long at 7:08 for 1.5 points and short at 7:51 for 1.5 points.

Net after comms was 2.9 points.

Today's market has been really tight so far (about 8 points wide) which is perfect for scalping. Before the open the YM gapped down 50 points (about 6 points on the Russell) and this would have been an easy play on the Russel to short right before market open at 6:25 or so. Unfortunately I missed this golden opportunity, however, there were still some other excellent plays for the morning. Long at 6:45 for 1.5 points (I love these type of setups - great market move and I thought we might close the gap in a single push), short at 7:28 for .2 points (almost had my 1.5 points here but failed to close the trade in a timely fashion), long at 7:41 for 1.5 points (gap finally filled).

Net after comms was 3.1 points.