Russell 5-10-07

The Russell gapped down modestly overnight and continued to push lower early in the morning. Later in the morning the market attempted to fill the gap but never exceeded the open.

First trade of the morning long at 6:54 at 829.70 for +0.2. Second trade of the morning was short at 7:17 at 830.00 for -1.8.

Net for the morning: -1.6