Russell 6-20-07

The market opened slightly above yesterday's close and quickly moved off of the morning's high. Bearish activity continued through most of the morning retracing the last several days of bullish activity.

First trade of the morning short at 6:37 at 857.20 for +3.1. Second trade of the morning long at 7:10 at 854.10 for +1.5.

Net on the morning: +4.6