"There is nothing quite as beautiful as money, there is nothing quite as wonderful as cash..." Monty Python

SPY Pivot Points for October 31

I try to stick to SSO and SDS during the day (what I hold overnight is a different story ).

Pivot point calculator helps a lot, I just look for the levels it gives me. Here are the support and resistance levels for tomorrow.

SPY is short-term overbought, major support is near $90-91.

6 comments:

Mr Romulus, 31. October 2008, 14:41

Kat,

The juxtaposition of Mars’ orbit through & under under Saturns loop, mixed with a fine tobacco, smoked in a fine leather armchair to recycle the aroma, we go higher next week.

smoke rings
Mr Romulus
Phantasmix, 31. October 2008, 15:28

Romulus,
careful with the ashes, it’s a fire hazard.

“recycle the aroma” *snort*

I was long all day, bought some to hold over the weekend (LVS and ABK). Still have long EEV and short FSLR but I made peace with them.

Stay tuned for my monthly P&L recap. Many more trades this month, and the true Win Rate is emerging.
R, 31. October 2008, 15:28

What method of pivot calculating do you use exactly?
Phantasmix, 31. October 2008, 15:46

R.,
R1 = (H+L+C) * 2 – low
R2 = (H+L+C) + (R1 – S1)
S1 = (H+L+C) * 2 – high
S2 = (H+L+C) – (R1 – S1)

H+L+C = high+low+close

I’ll post Excel file in a minute.
R, 31. October 2008, 17:36

Thank you for translating “H/L/C” to me.

I meant that we have 3 methods of P calculating:
1)P=(H+L+C)/3
2)P=(H+L+O)/3
3)P=(H+L+C+O)/4.

So, why did you prefer that method?
Phantasmix, 31. October 2008, 18:30

Well it’s the only method I knew, and it works, so I use it. Better than throwing a dart

Will compare the numbers using your formula.