Russell 1-8-07

This is the first Russell trade for the year. These are short term momentum plays typically looking to pick off about 1.5-2.0 points and risking no more than 1.5-2.0 points. This is a primarily mechanical system but I do use discretion to get the best entries and to determine if the move is a "market move" across the e-minis. I trade this system from market open at 6:30 to 8:00 PST since I find this is when I'm at my best (and so is the market).

Had a bit of a choppy early morning but finally managed some nice trend moves before the lunch doldrums. Long at 6:43 at 778.70 +1.5 points. Long at 7:04 at 778.10 -1.5 points. Long at 7:27 at 775.70 +1.5.

Net on the day including comms was 1.3 points.