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following this mornings report.....

----- Original Message -----

From: frankd@fdtradeco

Sent: Tuesday, August 07, 2007 10:29 AM

Subject: Dilernia Report 7th August 2007

Discreationary shorts on open to trade Gap fill, exit 5953 and

move to neutral positions. (stops) above today's highs or

breakeven from entry if there is a bounce off R22 lows @ 5968.

Expectation gap will fill @ 5947,   an 44 points down from highs

is 5946, so there is a cluster of support here for anyone looking

 to trade longs, confirmed longs wound be trading with R22 hooks

 to move back into highs.

Don't trade longs below 5947 today.

----- Original Message -----

From: frankd@fdtradeco

Sent: Tuesday, August 07, 2007 11:47 AM

Subject: Dilernia Report 7th August 2007

Expected support 5947 reached and R44 lows.

confirmed supported would need to see a R22 hook off these

levels, and then continue higher back into an R44 high.

Day traders buying off 5947 can partial exits @22 points up

from swing lows and run open position into R44 high or double

22 top.  (if R22 swing high is reached move stops to below todays lows)

Not sure how the rest of the day into tomorrow will fair because 

the DOW is drifting lower after reaching 13494, can only expect

 much higher moves if US markets break 50% levels tonight.

Frank Dilernia