Wednesday, August 1, 2007

Virtual Office, $2067. Dow, +154.28, 13366.27

Misstrade, $1746 on 3400 shares traded.
HPT, $1500 on 54 contracts traded.
Evolution, $872 on 143,500 shares traded.
OBAT, $340 on 5600 shares traded.
Denarii, $50 on 1000 shares traded.
Bubs, -$817 on 13,600 shares traded.
Me, -$1624 on 50,400 shares traded.

There was a lot of volatility in the market today, but it was a different, choppier type of volatility that is, until 3:30 when the market went straight up parabolic-style.

What I'm getting from these past few days of trading is that the 1460 level on the S&P 500 futures seems to be pretty important. We paused there a few times today and basically chopped around that level. This was also an important level in January because it basically marked the highs just before the February panic. What that means? I don't know. I'm just spitballing here.

Anyway, lets see what tomorrow brings. I'd say that this rally in the last 30 minutes of the day is "encouraging." I'm kind of expecting the market to settle down for the next couple of days with smaller swings. Why? Because the Bulls were freaked out initially, but with a rally like that we saw in the last 30-minutes I'm sure more than a few Bears are freaked out as well.

In short, expect a big stare-off tomorrow ahead of Friday's employment report...

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