Thursday, April 12, 2007

Russell 4-12-07

The market opened off a couple points from yesterday's strong close and then pushed lower the first half-hour of the morning seeking yesterday's low. From there the market had a typical 7:00 a.m. reversal and sought the morning's open eventually reaching yesterday's high.

First trade of the morning was at 6:33 short at 812.20 for +3.6. Exit was based on yesterday's low which was at 808.60. Once it was clear that we weren't going to push any lower I exited my position. Second trade of the morning was at 809.80 for +0.1. This trade started to turn off as RSX was rising and I felt it was better to exit the trade then wait for things to turn further. Obviously this was a bit premature.

Net for the morning: +3.7
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