Russell 3-15-07

After a brief show of weakness premarket, the Russell opened up higher on the day and continued to climb for the first 20 minutes of the session. After that it consolidated into a tight range that was very choppy. I suspect that we'll see a late morning or early afternoon breakout from this range.

First trade was short at 6:45 at 786.00 for -1.8. Second trade was short at 6:54 at 786.50 for -1.8. Third trade was short at 7:15 at 787.90 for +0.2. Fourth trade was long at 7:30 at 788.00 for +0.1. It's tough to give back so much after a great day like yesterday, however, it happens. Hopefully Friday will be more active.

Net on the morning: -3.3
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