10-26-07, Intraday

Pre market SnP futures were traded up to 1539 before the cash market open. That forced buy programs at the open thrusting the cash to 1530 area. I took profits on the SSO 200% leveraged SnP security at 1530 purchased at 1500. We look for 1.5 to 2% moves on these short term swings and take profits when achieved, average hold is 4 days.

The wave "4" pattern remains alive as long as the 50% retrace at 1533 is not traded above.