PIVOT POINTS & RANGE PROJECTION FOR 2/1/2008

PIVOT POINTS FOR SPY

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R1 - 144.37.... R2 - 151.46.... R3 - 164.14.... R4 - 176.82

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S1 - 131.69.... S2 - 126.10.... S3 - 113.42.... S4 - 100.74

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PROJECTED RANGE FOR SPY

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HIGHS - 140.76 & 144.24

LOWS - 133.78 & 130.30

MARKET WRAP - 1/31/08

On and Off Again Computer Problems made for a long day with the blog.

No trading was interfered with, but the blog was hit or miss.

The last trade I posted got us another 5 points profit and for the day
we were able to put together a profit of + 17.5 Points.

It was a better day than that, but I will only credit the trades that I have posted here in real time.

The market looks like it took care of its correction late yesterday and early this morning, so while I have yet to do my daily work I would imagine this rally should continue.

I hope that even though we had blog outages today, that some of you were able to use some of the tools we talk about here and captured even more points than we posted.

I will be posting the Pivot Points and Projected High and Low for 2/1/08 trading later tonight.

I am actually thinking about putting together a trading platform that would allow you to see the actual trades in real time.

Not only would it be more of an advantage for all of you, but it would save me quite a bit of time as well.

BREAKOUT LEVEL

IF WE CAN BREAK THROUGH THIS LEVEL WE SHOULD GET 4-5 POINTS QUITE RAPIDLY.

HOWEVER, IF WE FAIL WE WILL EXIT OUR LONG AND PERHAPS LOOK TO THE SHORT SIDE.

STALLING BREAK - TIGHTEN UP STOP

THE MARKET HAS STALLED SINCE BREAKING OUT OF THE TRIANGLE.
THIS IS A CONCERN SO MOVE YOUR STOP UP VERY TIGHT TO BREAKEVEN
AT 1364 EVEN

BREAKOUT

LONG ON THE BREAKOUT 1364 EVEN

TRADE SET UP

HERE ARE A COUPLE OF THINGS TO KEEP AN EYE ON.

A WEDGE AND THE GREEN BREAKOUT LINE

STOPPED

STOPPED OUT OF SHORT AT BREAKEVEN

MOVE STOP TO BREAK EVEN

I AM UNABLE TO POST CHARTS RIGHT NOW SO I WILL DO THE BEST I CAN.

MOVE THE STOP ON THE SHORT FROM 1262.75 TO BREAK EVEN.
MARKET IS CURRENTLY AT 1360 EVEN

SELL SHORT

SHORT OFF THE BREAK OF THE WEDGE FROM 1362.75

LOOK FOR A BREAK EITHER WAY

TRADE SET-UP

WE ARE CURRENTLY GETTING MUCH THE SAME ACTION AROUNS A PIVOT THAT WE SAW THIS MORNING FROM 10:15 - 10:50AM EST.

THE ONLY DIFFERENCE IS THAT THE MORNING PATTERN CAME FROM A MARKET MOVING UP TO MEET THE PIVOT. THIS PATTERN HAS PRICE MOVING DOWN TO MEET THE PIVOT.

KEEP AN EYE FOR A BREAK EITHER WAY, BUT FAVOR THE SHORT SIDE.

COMPUTER PROBLEMS

MY APOLOGIES FOR THE LACK OF POSTING, BUT I HAD A BIT OF A COMPUTER SNAFU.

LUCKILY IT DID NOT AFFECT MY TRADING PLATFORM!

ANYWAY, THE LAST POST WAS THE CONSOLIDATION ZONE AND WATCHING FOR A BREAKOUT.

THIS WILL BE THE ONLY TRADE THAT I WILL CREDIT TOWARDS THE RUNNING TOTAL ON THE BLOG. THERE WERE A COUPLE OTHER TRADES, BUT I HAD NOT INITIATED THEM HERE FIRST SO I WON'T CREDIT THEM.

THE BREAKOUT TRADE NETTED US A VERY NICE 9 1/2 POINTS.

TODAYS RUNNING TOTAL - +12.50 POINTS

CONSOLIDATION

KEEP AN EYE ON THIS CONSOLIDATION ZONE FOR A MOVE EITHER WAY

SLOW....SLOW......SLOW

TODAYS MARKET ACTION REALLY SLOWED DOWN EARLY TODAY.

TYPICALLY THIS TYPE OF ACTIVITY COMES IN AROUND 11:45AM EST.

IF THIS KEEPS UP, I AM GOING TO TAKE MY DAILY BREAK UNTIL THINGS START TO PICK UP AGAIN.

STOPPED OUT

STOPPED OUT AT BREAKEVEN

TODAYS RUNNING TOTAL - +3.00 POINTS

BREAKEVEN STOP

MOVE STOP TO BREAKEVEN 1346.25

BROKEN WEDGE

SELL SHORT

SHORT FROM 1346.25

1ST HOURS RANGE

SPY

134.89 - 133.20

STOPPED OUT

STOPPED OUT OF SHORT AT BREAK EVEN

BREAKEVEN STOP

MOVE STOP TO BREAK EVEN

GRT SHORT

SHORT FROM 1346.25 ON PIVOT FAILURE AND NEGATIVE DIVERGENCE

SELL LONG

SOLD FOR A 4.5 POINT PROFIT

TODAYS RUNNING TOTAL - +3.00 POINTS

LOCK IN 4 POINTS PROFIT

LOCK IN 4 POINTS .... MOVE STOP TO 1342 EVEN

LOCK IN 2 POINTS

LOCK IN 2 POINTS PROFIT AND MOVE STOP TO 1340

MOVE TO BREAKEVEN

MOVE STOP TO BREAKEVEN AT 1338

OPENING RANGE BREAKOUT

LONG ON OPENING RANGE BREAKOUT

STOPPED OUT OF LONG

STOPPED OUT OF LONG WITH A 1.5 POINT LOSS.

TODAYS RUNNING TOTAL - (-1.50) POINTS

OPENING RANGE FOR SPY

133.84 - 133.20

GET LONG

LONG FROM 1337.75 WITH A 1.5 POINT STOP LOSS

DAY TRADE UPDATE

LOOK TO FADE THIS GAP LOWER VERY SHORTLY

A MOVE BACK ABOVE 1337.71 WILL PUT US LONG

Pre-Opening Comment 1/31/2008

The S&P 500 futures are indicated to open down 21.75 points with premium factored in.

The NASDAQ is indicated to open 27.5 points lower including premium forces.

The market looks to open sharply lower and right near some pretty solid support so look for a
potential fade trade near the open.

We should get some pretty good volatility today, so lets see if we can capture some of that movement.

The downside today will be fighting some very strong seasonal tendancies for higher prices so it would not catch me off guard if we saw sharply lower prices followed by a very nice move higher.
As always though, the market is always right, so we will wait and see what it has to say.

I will be posting the opening and 1st hours ranges for the SPY as soon as I get a hold of them.

Good Luck today and lets make some money!!!

p.s. No spell check this morning, so I apologize for any mispellings

PIVOT POINTS FOR TRADING DAY 1/31/2008

THERE IS GOING TO BE A CHANGE IN THE REPORTING OF THE PIVOT POINTS AND ALSO THE PROJECTED HIGH AND LOW FOR THE DAYS TRADING.

I WILL BE USING SPY AS THE BENCH MARK FOR THESE CALCULATIONS AS I FIND IT TO BE MORE SENSITIVE AND MORE ACCURATE TO THE PIVOTS AND PROJECTIONS.

WE ALREADY USE THE SPY FOR OUR RANGE TRADING SIGNALS, SO WE MAY AS WELL REMAIN CONSISTENT WITH THE PIVOTS ALSO.

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PIVOT - 136.02

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R1 - 136.73, 137.43, 138.70, 139.96, 141.93, 143.90, 145.87, 147.84

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S1 - 134.76, 133.49, 132.79, 132.08, 130.11, 128.14, 126.17, 124.20

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PROJECTED HIGH & LOW FOR 1/31/2008

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PROJECTION #1 - HIGH......135.99/ LOW......133.83

PROJECTION #2 - HIGH.......137.08/ LOW...... 132.74

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MARKET WRAP - 1/30/08

TODAY WAS OUR FIRST NEGATIVE DAY IN QUITE A WHILE.

I HAVE NOT GONE BACK TO LOOK, BUT I KNOW IT HAS BEEN OVER A MONTH SINCE I CLOSED A DAY OUT WITH A LOSS.

TOTAL LOSS FOR THE DAY WAS 3.00 POINTS.
NOT TO BAD, UNTIL YOU CONSIDER THE ENORMOUS MARKET MOVEMENTS OF THE LAST HOUR AND A HALF.

NO WORRIES THOUGH AS OPPORTUNITY KNOCKS ON A CONTINUOUS BASIS.

TO BE HONEST WITH YOU I AM KIND OF GLAD THAT THE WIN STREAK IS BROKEN AS I THINK IN THE BACK OF MY MIND I WAS STARTING TO CONCERN MYSELF WITH IT AND THAT JUST SPELLS TROUBLE.

I HOPE SOME OF YOU GOT A PIECE OF THE MOVE OUT OF THE TRIANGLE AND ALSO THE MOVE OUT OF THE OPENING RANGE.

UNTIL TOMORROW, LETS DO OUR HOMEWORK AND AWAIT YET ANOTHER EXCITING DAY.

I WILL BE POSTING THE PIVOTS AND PROJECTED HIGH AND LOW NUMBERS LATER TONIGHT.

BREAK EVEN STOP

MOVE STOP TO BREAK EVEN - 1360

LONG TRADE

SHOULD HAVE AN OPPORTUNITY TO RUN IN THE LAST 10 MINUTES

LONG FROM 1360 EVEN

STOPPED OUT

STOPPED OUT WITH A 1.5 POINT STOP

TODAYS RUNNING TOTAL (-3.0) POINTS

LONG TRIGGERED

LONG FROM 1366 EVEN WITH THE USUAL 1.5 POINT STOP

LONG SET UP

WE HAVE SOME FAIRLY STRONG LOSS OF MOMENTUM ON THE SPY, SO LOOK TO GET BACK LONG ON THE NEXT CROSS OF THE STOCHASTICS.

STOPPED OUT

STOPPED OUT WITH A 1.5 POINT LOSS

GET LONG AGAIN

LONG FROM 1373 EVEN

STOPPED OUT

STOPPED OUT WITH A 1.75 POINT LOSS

RUNNING TOTAL TODAY - CALL IT EVEN

GET LONG

GET LONG RIGHT IN HERE, WITH A 1.5 POINT STOP

SORRY, I DIDN'T PUT THE LEVEL DOWN - 1376.5

Nice reaction to the rate cut, but you will never see me with any positions just before a major announcement like this.

It certainly woke the market up.

Let's see if we can find some opportunity

TODAYS OPENING RANGE ON THE SPY

I TOOK EVERYTHING ELSE OFF THE CHART EXCEPT FOR THE OPENING RANGE MARKERS WHICH ARE THE BLUE DOTTED LINES.

DO YOU THINK THERE IS AN IMPACT?
I WOULD SAY SO.

NOW LAY THE FIRST HOURS RANGE OVER THE CHART AND YOU HAVE A VERY POWERFUL 1-2 PUNCH.

IF YOU ARE PLANNING ON STICKING IT OUT FROM HERE TO THE FOMC ANNOUNCEMENT, YOU MIGHT BE ABLE TO GET SOMETHING OUT OF A BREAK IN THE TRIANGLE THAT IS DEVELOPING.

ALSO REMEMBER THAT YOU MIGHT GET SOMETHING OUT OF THE RANGE TRADES AS WELL.

STOPPED OUT - BREAK EVEN

STOPPED OUT AT BREAK EVEN

NO REAL TRENDS DEVELOPING HERE TODAY AND THE ONE THAT DID DEVELOP EARLY THIS MORNING WITH THE GAP BEING FILLED WE GOT OUT OF WAY TO EARLY.

I AM NOT GOING TO CONTINUE TO TRADE THIS MARKET THAT IS IN A SERIOUS HOLDING PATTERN UNTIL THE FOMC ANNOUNCEMENT. I WILL START TO FORCE TRADES AND THIS WILL ONLY SERVE TO COST ME MONEY.

SO THE SMART THING TO DO IS SIMPLY STEP AWAY FOR A WHILE.

BREAK EVEN AND TRIANGLE

MOVE STOP TO BREAK EVEN AND KEEP A WATCHFUL EYE ON THE TRIANGLE THAT IS FORMING!!

FIRST HOURS RANGE ON THE SPY

136.15 - 135.23

SELL SHORT AGAIN

SHORT FROM 1360.50

LOOK FOR THE SET UP

SELL SHORT AGAIN IF THE STOCHASTICS CROSS.

THE MARKET JUST KEEPS GETTING WEAKER AND WEAKER HERE

STOPPED

STOPPED OUT AT BREAKEVEN

CAN'T SEEM TO KEEP ONE TOGETHER TODAY.

WE HAVE 2 POINTS UNDER OUR BELT SO FAR

BREAK EVEN STOP

MOVE STOP TO BREAK EVEN

SELL SHORT

SHORT FROM 1361.25

STOPPED OUT

STOPPED OUT AT BREAK EVEN

MOVE STOP

MOVE STOP TO BREAK EVEN

SELL SHORT

SHORT FROM 1359.25

POSSIBLE SET UP SHORT

POSSIBLE NEGATIVE DIVERGANCE ON THE STOCHASTICS COULD BE A SHORT SET UP HERE

EXIT LONG

GRAB THE 2 POINTS RIGHT HERE AND EXIT

LOCK IN 2

LOCK IN 2 POINTS AT 1357.25

BREAK EVEN STOP

MOVE STOP TO BREAK EVEN

TIGHTEN UP

GETTING A BIT MUDDIED IN HERE SO LET'S TIGHTEN UP THE STOP A BIT

LONG

LONG FROM 1355.25 WITH A 1 POINT STOP

DAY TRADE

STOPPED OUT AT BREAK EVEN.

S&P 500 CASH ACHIEVED ITS DOWNSIDE VALUE LEVEL SO NOW WE LOOK FOR AN OPENING RANGE BREAK TO THE UPSIDE

BREAKEVEN STOP

SET STOP AT BREAK EVEN

OPENING RANGE BREAK

SHORT FROM 1355

SPY OPENING RANGE

SPY OPENING RANGE

135.80 - 135.46

Pre-Opening Comment 1/30/2008

The S&P 500 futures are indicated to open down 5.00 points with premium factored in.

The NASDAQ futures are indicated to open down 9.90 points with premium factored in.

The S&P is slated to open just under the value area on the cash index at 1357.40.
This indicates a very short term move to 1353 - 1353.50 before we find some type of support.

We will address the condition of the market from that point, if and when it gets there.

Today is very apt to be yet another slow day, especially after 10:45am EST.

I will post the opening range and the first hours range as soon as they become available.

Lets make some money today and remember to USE YOUR STOP LOSS ORDERS!!

Should Be A Factor Today

The 5 minute chart is worth a look as it looks weak and very vulnerable.

Keep this by your side today.

PIVOT POINTS FOR TRADING DAY 1/30/2008

PIVOT - 1359.14

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R1 - 1363,65, 1368.09, 1370.99, 1373.88, 1381.25, 1388.62, 1395.99, 1403.36

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S1 - 1356.25, 1353.35, 1348.88, 1344.40, 1337.03, 1329.66, 1322.29, 1314.92

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PROJECTED HIGH AND LOW

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HIGH #1 - 1366.35......LOW #1 - 1358.25

HIGH #2 - 1370.41.......LOW #2 - 1354.19

MARKET WRAP

Turned out to be pretty much what we thought today with a decent range for us to trade.

The S&P cash closed right at the predicted high for the day and the actual high for the day exceeded the projection by a couple of points.

For the day, we brought in 15.00 S&P 500 points, which as far as I am concerned is a great day.

The opportunities seemed a bit limited today and there were actually a couple that got away, but no worries as there will be at least a thousand more in the pipeline this year.

I will be updating the pivots for tomorrows trading a little later in the day as well as the projected high and low.

I hope many of you were able to get a piece of the action today.

Here is to our continued success and many more for the future.

STOPPED OUT

STOPPED OUT WITH 3 POINTS PROFIT

LOCK IN

MOVE STOP TO 1361.50 AND LOCK IN 3 POINTS

BREAK EVEN STOP

MOVE STOP TO BREAK EVEN AT 1364.50

SELL SHORT

SHORT FROM 1364.50 WITH A 1.5 POINT STOP

STOPPED OUT

STOPPED OUT AT BREAK EVEN

BREAK EVEN STOP

MOVE STOP TO BREAKEVEN AT 1363.50

SELL SHORT

SHORT FROM 1363.5 WITH A 1 POINT STOP

LOOK FOR SHORT SALE

LOOK TO GO SHORT IF WE STALL JUST ABOVE THE TOP OF THE OPENING RANGE

BACK TO THE FIRST PROJECTED HIGH AT 1362.69.

MISSED THE RALLY, BUT MAYBE WE CAN GET SOMETHING WITH A PULLBACK

OPENING RANGE

THERE ARE A COUPLE OF OPTIONS HERE.

WE HAVE BROKEN BACK INTO THE OPENING RANGE, BUT WE ARE OVERBOUGHT, SO WE CAN WAIT FOR THE OVERBOUGHT CONDITION TO WORK ITSELF OUT OR WE CAN LOOK FOR A FAILURE AND SHORT IT IF IT BREAKS BACK BELOW THE OPENING RANGE

DAY TRADE - TRIANGLE

TRIANGLE BREAK ACHIEVED ITS UPSIDE TARGET OF 1360.25.

WE DID NOT GET ANY OF THIS RALLY AS WE HAVE BEEN SITTING ASIDE UNTIL MORE VOLATILITY COMES INTO THE MARKET.