The premarket Dow and Russell had some slight weakness this morning and opened up lower than yesterday's close. The market made an attempt to retrace to yesterday's value area but failed to push lower. At around 7:00 a.m. the market surged based on Bernake's announcement and the bulls took over.
First trade for the morning was a short reversal at 6:35 a.m. at 815.70 for -0.8. Second trade of the morning was a long breakout signal at 7:05 a.m. at 816.4 for +1.9. I was a little late in on the 2nd trade due to the speed of this morning's news release.
Net on the morning: +1.1
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Wednesday, February 14, 2007
Posted by Lord Tedders at 8:53 AM