PPDT - 08/08/2011 Monday - PP-XLF = 13.50

[ask2lern]

Good Morning Gang
Here are the pivots……….…hope everyone has a great day ……GLTA


GOLD

R4 1722.67
R3 1701.77
R2 1680.87
R1 1672.63

PP 1659.97

S1 1651.73
S2 1639.07
S3 1618.17


SILVER

R3 42.89
R2 40.70
R1 39.56

PP 38.51

S1 37.37
S2 36.32
S3 34.13


IWM

R3 79.99
R2 75.80
R1 73.57

PP 71.61

S1 69.38
S2 67.42
S3 63.23




TNA

R3 76.48
R2 70.25
R1 68.90

PP 64.02

S1 61.86
S2 57.79
S3 51.56



TZA

R3 67.30
R2 58.87
R1 54.93

PP 50.44

S1 46.50
S2 42.01
S3 33.58


SDS

R3 28.98
R2 26.85
R1 25.71

PP 24.72

S1 23.58
S2 22.59
S3 20.46


SSO

R3 50.74
R2 46.98
R1 45.26

PP 43.22

S1 41.50
S2 39.46
S3 35.70

…………………………..GLTA

[ask2lern]

From www.optionmonster.com ........................GLTA

Levels in new territory after downgrade

The indexes went on another wild ride on Friday. At one point they were down several percent, then well into positive territory. The S&P 500 ended flat, but the Russell 2000 was down sharply.

Last night the U.S. stock index futures were down more than 2 percent in response to Standard & Poor's downgrade of the U.S. credit rating. If the markets were to open at this level, it would put them roughly back to the lows of Friday's session if not lower.

In addition to stock futures, commodity futures are also tumbling after the downgrade, notably in energy. Crude was last down more than 3 percent, which will further pressure the energy sector if those losses stick. Gold was trading at a new lifetime high just under $1700 per ounce.

Given the potential for extreme volatility and price swings, I am giving broader scenarios of where levels may trade rather than use the typical format. In current conditions we must allow for far more latitude as to price movement, regardless of direction.

It is possible that the highly frequent price swings we saw on Friday could be the norm for some time until traders and investors fully absorb the implications of the debt downgrade. The following are based on the current downdraft in stock index futures as of Sunday night.

For the Nasdaq 100, initial support is at 2131.52, with next support below that level at 2093.63. Resistance is at 2180.94, with next resistance at 2194.38.

The S&P 500 has initial support at 1174.14, with next support below at 1157.16. Initial resistance is at 1183.75, with next resistance at 1199.38.

The Russell 2000 was the one index that showed little sign of improvement on Friday, finishing much closer to the lows of the session than any other. Initial support is at 698.60, with next support at 690.49. Initial resistance is at 714.63, with resistance above at 726.80.

[ask2lern]

From www.optionmonster.com .........................GLTA

Europe action may help cut U.S.losses

One event that helped keep U.S. futures from falling even further last night was a European Central Bank's statement that it would fully support Italy and Spain through bond purchases.

Though not mentioned directly in its communique, it is clear that those two nations are the immediate targets for intervention. There had been some wavering on a broad bond purchases program commitment on Friday, largely at Germany's insistence. Late Sunday, however, the German government released a statement supporting the program.

This will put the ECB in a much more activist mode than has existed to date, a major departure from the monetary union's hallmark of clear responsibility by each nation for its own internal funding matters.

The action puts the ECB into more of a Federal Reserve mode, but across national borders. The details of the program were still relatively scant yesterday, but they did help bolster the euro against the dollar.

[ask2lern]

In regard to ECB buying bonds.....................................The issue is that the ECB has no money so intervention will occur as a result of the open swap line they have with the fed..............now if Fed says QE3 then we will not only be buying EU bonds but US bonds................I would not buy gold today but on dips if you do not have any I would sure look to get some as it may be the only true "safe haven" in years ahead.............Silver will not provide a good hiding spot IMO............remeber gold is money(despite what knuckle head Bernanke says).......Silver is not.......all of course IMO................GLTA

[timber]

i wonder if i can buy gold in my retirement account

[ask2lern]

MandyCNBC Amanda Drury
David Lutz: watch #gold for signs of forced liquidation due to margin calls at the London close
9 minutes ago Favorite Retweet Reply

[Clinton SPX]

Im not going to log into my account until the day is over.

[Clinton SPX]

I see some oil and NG buying

see if it last

[cosmic]

Aug 8, 2011 6:46:43 GMT -5 timber said:

i wonder if i can buy gold in my retirement account

Certain brokers allow you to own physical - believe it or not - in your IRA. Not all, but Wells Fargo does.

[Clinton SPX]

oil up 2 bucks in 40 min

[Clinton SPX]

BM shorts look like they are covering

[kryptos2009]

Good Morning Gang!!

Here is the PP Daily Thread (PPDT) data.

XLF PP=13.50
MP=13.67 R1=13.84 MP=14.04 R2=14.24 MP=14.61 R3=14.98 MP=15.35 R4=15.72
MP=13.30 S1=13.10 MP=12.93 S2=12.76 MP=12.39 S3=12.02 MP=11.65 S4=11.28
O=13.83 H=13.91 L=13.17 C=13.43

FAS PP=17.44
MP=18.08 R1=18.72 MP=19.48 R2=20.23 MP=21.62 R3=23.02 MP=24.41 R4=25.81
MP=16.69 S1=15.93 MP=15.29 S2=14.65 MP=13.25 S3=11.86 MP=10.46 S4=9.07
O=18.65 H=18.94 L=16.15 C=17.22

FAZ PP=61.67
MP=64.14 R1=66.60 MP=68.72 R2=70.83 MP=75.41 R3=79.99 MP=84.57 R4=89.15
MP=59.56 S1=57.44 MP=54.98 S2=52.51 MP=47.93 S3=43.35 MP=38.77 S4=34.19
O=57.7 H=65.9 L=56.74 C=62.37

SPY PP=119.67
MP=121.08 R1=122.48 MP=123.68 R2=124.88 MP=127.49 R3=130.09 MP=132.70 R4=135.30
MP=118.47 S1=117.27 MP=115.87 S2=114.46 MP=111.86 S3=109.25 MP=106.65 S4=104.04
O=121.76 H=122.07 L=116.86 C=120.08

SPG PP=109.35
MP=110.59 R1=111.83 MP=113.32 R2=114.81 MP=117.54 R3=120.27 MP=123.00 R4=125.73
MP=107.86 S1=106.37 MP=105.13 S2=103.89 MP=101.16 S3=98.43 MP=95.70 S4=92.97
O=112.31 H=112.34 L=106.88 C=108.84

GS PP=125.59
MP=127.21 R1=128.82 MP=130.65 R2=132.47 MP=135.91 R3=139.35 MP=142.79 R4=146.23
MP=123.77 S1=121.94 MP=120.33 S2=118.71 MP=115.27 S3=111.83 MP=108.39 S4=104.95
O=127.75 H=129.23 L=122.35 C=125.18

JPM PP=37.69
MP=38.18 R1=38.66 MP=39.19 R2=39.72 MP=40.74 R3=41.75 MP=42.77 R4=43.78
MP=37.16 S1=36.63 MP=36.15 S2=35.66 MP=34.65 S3=33.63 MP=32.62 S4=31.60
O=38.3 H=38.75 L=36.72 C=37.6

MS PP=19.82
MP=20.21 R1=20.59 MP=20.88 R2=21.16 MP=21.83 R3=22.50 MP=23.17 R4=23.84
MP=19.54 S1=19.25 MP=18.87 S2=18.48 MP=17.81 S3=17.14 MP=16.47 S4=15.80
O=20.02 H=20.39 L=19.05 C=20.02

C PP=33.58
MP=34.47 R1=35.36 MP=36.32 R2=37.27 MP=39.12 R3=40.96 MP=42.81 R4=44.65
MP=32.63 S1=31.67 MP=30.78 S2=29.89 MP=28.05 S3=26.20 MP=24.36 S4=22.51
O=34.97 H=35.5 L=31.81 C=33.44

VIX PP=32.93
MP=35.63 R1=38.32 MP=41.48 R2=44.64 MP=50.50 R3=56.35 MP=62.21 R4=68.06
MP=29.77 S1=26.61 MP=23.92 S2=21.22 MP=15.37 S3=9.51 MP=3.66 S4=-2.20
O=28.48 H=39.25 L=27.54 C=32

UUP PP=21.26
MP=21.29 R1=21.31 MP=21.36 R2=21.41 MP=21.48 R3=21.56 MP=21.63 R4=21.71
MP=21.21 S1=21.16 MP=21.14 S2=21.11 MP=21.03 S3=20.96 MP=20.88 S4=20.81
O=21.29 H=21.35 L=21.2 C=21.22

FROM: www.econoday.com

Economic Events & Analysis - 08/08/2011 Monday


11:00 AM ET 4-Week Bill Announcement
11:30 AM ET 3-Month Bill Auction
11:30 AM ET 6-Month Bill Auction


Additional World wide Economic Calendar information can be found at the following website.
worldeconomiccalendar.com/

NOTE:
The previous days OHLC data for todays PPDT was gathered from finance.yahoo.com for each individual stock by a series of webquerys built into a spreadsheet.
The formulas used by the www.mypivots.com website to create the Pivot Points were found in the sites help files.
The formulas were built into the spreadsheet which acts on the previous days OHLC data gathered from Yahoo.
The Pivot Points were created using the formulas from www.mypivots.com but NOT by using the site.
Please let me know if you find any errors in the data.
Use of this data is at your own risk.

[Clinton SPX]

Rally over, business as usual

[elle]

not thru that time, but maybe we'll 2nd chance here

abs, are you checking in?

[elle]

now a mini h&s, but closed my short, thinking go long we dip again, especially if weekly 200 holds

[Clinton SPX]

Oil looking stable most of the day. Maybe my bleeding will stop

[kryptos2009]

Bought 1 AGQ Aug 20 190 Call @ 16.00 on Friday in Dad's acct
Sold today @ 26.00

+60.35% / +$978.52

;D

[elle]

though it was bear flag like, but better would be a failed move up

[Clinton SPX]

Market oracle just sent me an email that buying time almost here


ya whatever.

[elle]

well, I'm taking a shot at xvi......again

[elle]

uh, xiv

[elle]

gold could be rolling over 5'

[elle]

GLD trying to rally but may only put in rs

[elle]

look how we bounced when gold broke 1st level, now needs to recapture or lower hi

[elle]

- wait, reverse for stocks



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[elle]

not sure how much weight this has in this market, but fyi

$$ flos, 5 pos 0 neg

[brosin]

Aug 8, 2011 14:07:44 GMT -5 elle said:

gold could be rolling over 5'

I shorted some GLD today