Russell 6-12-07

The Russell gapped down nearly 6 points overnight indicating a large early moring bearish movement. The market then continued it's bearish tendencies most of the morning before settling into a new value area between 832.00 and 834.00.

First trade of the morning long at 6:48 at 837.7 for -1.8. Second trade of the morning was short at 6:59 at 836.00 for +4.6. Third trade of the morning long at 7:28 at 831.70 for -0.3.

Net on the morning: +2.5