PIVOT POINTS & RANGE PROJECTION FOR 2/4/2008

2/4/2008

ODDS OF UP DAY IF FRIDAYS HIGH IS TAKEN OUT - 82%

ODDS OF UP DAY IF FRIDAYS LOW IS TAKEN OUT - 22%

ODDS OF AN UP DAY IF NEITHER IS ACHIEVED - 64%

SOME EXTRA TIDBITS TO USE

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RANGE PROJECTION

HIGH - 140.09, 140.67

LOW - 138.95, 138.37

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PIVOT POINTS

RESISTANCE - 140.25, 140.97, 143.06, 145.15

SUPPORT - 139.33, 139.14, 138.16, 136.79

COVER SHORT

COVER THE SHORT FOR A BUCK PROFIT

MOVE STOP TO BREAK EVEN

DAY TRADE

MAKE THAT A 1 POINT STOP AS IF IT IS GOING TO DROP, IT SHOULD DO IT IN A HURRY

SELL SHORT

SHORT FROM 1395.25 WITH A 1.5 POINT STOP

STOPPED OUT

STOPPED OUT OF SHORT AT BREAKEVEN.

TODAYS RUNNING TOTAL (-2.00) POINTS

BREAK EVEN STOP

MOVE STOP TO BREAKEVEN ON THE SHORT AT 1391.50

STOP AND REVERSED FROM 1391.50 FOR A 2 POINT LOSS ON THE LONG AND

WE ARE SHORT FROM 1391.50

THERE IS THE STOP AND REVERSE

DAY TRADE

NEEDS TO MAKE ITS MOVE HIGHER NOW AND GET BEYOND THIS STALLING.

IF NOT, THEN A STOP AND REVERSE MAY BE IN THE CARDS.

GO LONG

LONG FROM 1393.50 WITH A 1.5 POINT STOP

GET READY

DAY TRADE

WATCH THE WEDGE FOR THE NEXT MOVE

OPENING AND 1ST HOURS RANGES

WELL, MY MISSION TOOK LONGER THAN I THOUGHT IT WOULD, BUT IT REALLY DOES NOT LOOK LIKE I MISSED ANYTHING WORTHWHILE.

ANYWAY, HERE IS A CHART OF THE OPENING RANGES AND 1ST HOURS RANGES.

TRADE SET UP

I WILL LEAVE YOU WITH THIS.

GETTING VERY CLOSE TO A LOW RISK SHORT.

UPON THE STOCHASTICS CROSS GO SHORT

GETTING CALLED AWAY

I AM BEING SUMMONED FROM MY POST, SO I WILL HAVE TO STEP AWAY FOR A BIT.

I DON'T KNOW FOR HOW LONG, BUT WE ALREADY KNOW THE OPENING RANGE SO USE IT.

WE ALSO NEED TO GET THE FIRST HOURS RANGE.

I WILL BE BACK AS SOON AS I AM ABLE

STOPPED OUT

STOPPED OUT WITH 3 POINTS PROFIT.

TODAYS RUNNING TOTAL...... +0.50 POINTS

TIGHTEN STOP

TIGHTEN THE STOP UP MORE

LOCK IN 3 POINTS AND MOVE TO 1384.50

MOVE STOP TO 1383.50 AND LOCK IN 2 POINTS

POSITIONS

STOPPED OUT OF SHORT AT 1381.50 FOR A 2.5 POINT LOSS

LONG FROM 1381.50

REVERSE LONG

STOP AND REVERSE LONG

DAY TRADE

IT IS GETTING READY TO BUST OUT ONE WAY OR THE OTHER, SO BE READY TO STOP OUT OF THE SHORT AND REVERSE LONG IF IT CALLS FOR THAT.

OPENING RANGE SELL

OPENING RANGE SELL

SHORT FROM 1379

OPENING RANGE FOR SPY - 2/1/08

138.08 - 137.84

PRE-OPENING COMMENT 2/01/2008

The S&P 500 is indicated to open Flat. Wow, how long has it been since we have seen a flat opening on the Spoons!

The NASDAQ is set to open higher by 8.5 points and the DOW to open lower by 16 points.

It looks like it will be a fairly mild opening compared to what we have become accustom to recently.

Watch your pivot points today and lets see what direction the market takes after the first 15 minutes or so.

I will be posting the Opening and 1st Hours Ranges as they become available.

Remember to USE STOP LOSS ORDERS at all times.

Good Luck today and let's see what we can put together!!