The Russell opened the morning to slight weakness that was soon bought by bulls looking for another breakout above yesterday's close. After the 7:00 a.m. breakout failed, the ER moved back into yesterday's range. This was another fairly choppy morning with little follow through.
The first trade of the morning was a short reversal at 6:42 a.m. at 828.50 for -1.8. The second trade of the morning was short reversal at 7:19 a.m. at 830.1 for +2.2.
Some of you may have noticed that I've added a new indicator to my setup. This is actually an indicator I use to filter choppy trades called the VST Scalper. It is available from Viper Spreed Trader and I find it very useful.
Net for the morning: +0.4
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Thursday, February 22, 2007
Posted by Lord Tedders at 10:00 AM