Russell 6-6-07

In classic option expiration Friday style, the Russell has a high degree of overnight activity but has been in a very tight range all morning making momentum trading quite difficult.

First trade of the morning was short at 6:31 at 833.50 for +0.8. Second trade of the morning was long at 6:41 at 842.50 for -1.8. Third trade was long at 6:57 at 842.10 for -0.9. Fourth trade was short at 7:07 at 840.50 for -0.8. Fifth trade was long at 7:18 at 841.00 for -1.5. Sixth trade was short at 7:31 at 839.7 for -1.3. Seventh trade was long at 7:42 at 840.7 for -0.6.

Net on the morning: -6.1