PPDT - 09/19/2011 Monday - PP-XLF = 12.88

[kryptos2009]

Good Morning Gang!!

Here is the PP Daily Thread (PPDT) data.

XLF PP=12.88
MP=12.98 R1=13.07 MP=13.15 R2=13.22 MP=13.39 R3=13.56 MP=13.73 R4=13.90
MP=12.81 S1=12.73 MP=12.64 S2=12.54 MP=12.37 S3=12.20 MP=12.03 S4=11.86
O=12.93 H=13.04 L=12.7 C=12.91

FAS PP=14.01
MP=14.29 R1=14.56 MP=14.80 R2=15.03 MP=15.54 R3=16.05 MP=16.56 R4=17.07
MP=13.78 S1=13.54 MP=13.27 S2=12.99 MP=12.48 S3=11.97 MP=11.46 S4=10.95
O=14.13 H=14.48 L=13.46 C=14.09

FAZ PP=53.75
MP=54.63 R1=55.51 MP=56.57 R2=57.62 MP=59.56 R3=61.49 MP=63.43 R4=65.36
MP=52.70 S1=51.64 MP=50.76 S2=49.88 MP=47.95 S3=46.01 MP=44.08 S4=42.14
O=53.34 H=55.87 L=52 C=53.39

SPY PP=121.27
MP=121.75 R1=122.22 MP=122.57 R2=122.92 MP=123.75 R3=124.57 MP=125.40 R4=126.22
MP=120.92 S1=120.57 MP=120.10 S2=119.62 MP=118.80 S3=117.97 MP=117.15 S4=116.32
O=121.29 H=121.97 L=120.32 C=121.52

SPG PP=119.66
MP=120.73 R1=121.80 MP=122.35 R2=122.89 MP=124.51 R3=126.12 MP=127.74 R4=129.35
MP=119.12 S1=118.57 MP=117.50 S2=116.43 MP=114.82 S3=113.20 MP=111.59 S4=109.97
O=119.33 H=120.76 L=117.53 C=120.7

GS PP=107.69
MP=108.58 R1=109.46 MP=110.45 R2=111.44 MP=113.31 R3=115.19 MP=117.06 R4=118.94
MP=106.70 S1=105.71 MP=104.83 S2=103.94 MP=102.06 S3=100.19 MP=98.31 S4=96.44
O=109.07 H=109.66 L=105.91 C=107.49

JPM PP=33.57
MP=33.85 R1=34.13 MP=34.48 R2=34.82 MP=35.45 R3=36.07 MP=36.70 R4=37.32
MP=33.23 S1=32.88 MP=32.60 S2=32.32 MP=31.70 S3=31.07 MP=30.45 S4=29.82
O=34.05 H=34.27 L=33.02 C=33.43

MS PP=16.47
MP=16.69 R1=16.91 MP=17.15 R2=17.38 MP=17.83 R3=18.29 MP=18.74 R4=19.20
MP=16.24 S1=16.00 MP=15.78 S2=15.56 MP=15.10 S3=14.65 MP=14.19 S4=13.74
O=16.83 H=16.93 L=16.02 C=16.45

C PP=28.81
MP=29.14 R1=29.46 MP=29.70 R2=29.93 MP=30.49 R3=31.05 MP=31.61 R4=32.17
MP=28.58 S1=28.34 MP=28.02 S2=27.69 MP=27.13 S3=26.57 MP=26.01 S4=25.45
O=28.92 H=29.28 L=28.16 C=28.99

VIX PP=31.30
MP=31.73 R1=32.16 MP=32.76 R2=33.35 MP=34.37 R3=35.40 MP=36.42 R4=37.45
MP=30.71 S1=30.11 MP=29.68 S2=29.25 MP=28.22 S3=27.20 MP=26.17 S4=25.15
O=31.81 H=32.48 L=30.43 C=30.98

UUP PP=21.74
MP=21.77 R1=21.79 MP=21.82 R2=21.84 MP=21.89 R3=21.94 MP=21.99 R4=22.04
MP=21.72 S1=21.69 MP=21.67 S2=21.64 MP=21.59 S3=21.54 MP=21.49 S4=21.44
O=21.74 H=21.79 L=21.69 C=21.74

FROM: www.econoday.com

Economic Events & Analysis - 09/19/2011 Monday


10:00 AM ET Housing Market Index
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]

This ought to go over like a fart in a library.


Here Is What Else To Expect From Obama Tomorrow Besides The "Buffett Plan"
Submitted by Tyler Durden on 09/18/2011 18:22 -0400

Berkshire Hathaway MF Global Private Equity Reuters Tax Revenue Warren Buffett


Tomorrow at 10:30 am Obama will present the balance of the details from his latest tax hike proposal, which obviously has no chance in hell of passing, but which will provide for substantial theater and hopefully deflect from the fact that Europe is closing an hour later. Courtesy of Reuters, here are some of the tax measures Obama has either already proposed, or may be looking at, to raise more tax revenue to help reduce the deficit, according to analysts, and what he will likely focus on tomorrow.

RECOMMENDATIONS MADE

* The president wants a new tax on the rich, known as the "Buffett tax." Details were sketchy, but uber-investor Warren Buffett, chairman of Berkshire Hathaway, in mid-August made his own tax proposal. If Obama's recommendation resembles the Buffett plan, then it would look like this:

--Hold income taxes steady for more than 99 percent of U.S. taxpayers. Raise rates, to an undetermined level, for individuals with income exceeding $1 million. Raise taxes for the super-rich making more than $10 million per year.

The "Buffett tax" could be a 5.4 percent surtax on joint returns above $1 million and individual returns above $500,000. If it is, it could bring in as new government revenue about $480 billion over 10 years, said analysts at MF Global.

* Under a $447-billion jobs plan unveiled on Sept. 8, Obama asked for a cap on itemized tax deductions and some exemptions at 28 percent for individuals earning more than $200,000 a year and families earning more than $250,000.

POSSIBLE FURTHER RECOMMENDATIONS

* The president may call for reining in the mortgage interest deduction. This could include denying it for second mortgages on vacation homes and yachts; lowering a $1 million cap on eligible first mortgages to perhaps $500,000; converting the deduction to a limited tax credit; or killing it, said analysts who stressed any changes would be phased in slowly.

* Another possibility is limiting the employer-provided healthcare income exclusion for higher-income tax brackets. It cost about $117.3 billion this year.

* In his jobs plan, Obama said he wants to close a loophole that lets private equity and hedge fund managers pay the 15-percent capital gains rate, instead of the 35-percent income rate, on much of their income known as "carried interest."

* On the corporate tax front, Obama may suggest a repeal of "last in, first out" accounting; elimination of the deferral of income tax payment on overseas corporate profits; or changing certain large flow-through partnerships (known as S-corps) into corporations, analysts said.

* Republicans and businesses want a lower overall corporate tax rate, but Obama is unlikely to support that without a large number of tax breaks and exemptions being closed.

* The president also wants to end several tax subsidies that support the oil and gas industry, and end a tax break for companies that own private jets.

* Obama may also be considering ways to get U.S. companies to bring home profits now parked abroad. Corporations want a tax holiday allowing them to bring those profits home at a reduced tax rate. They also want a new territorial tax system that would permanently tax exempt those profits, but many in Congress oppose both ideas. Big drug makers and high-tech firms with valuable intellectual property have a lot at stake on this issue

[novice08]

Not mentioned is the 3.8% tax surcharge already in the Obamacare bill...the press seems to have conveniently "forgotten" to mention it. It is a done deal unless Obamacare is repealed. Don't forget all of this is to pay to bail out insolvent cos. And please don't forget the CFMA (Commodities Future Modernization Act) of 2000 which allowed cds and was the basic cause of the 2008 collapse. That and a host of other deregulations.

[ask2lern]

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


GOLD


R3 1886.90
R2 1846.70
R1 1830.10

PP 1806.50

S1 1789.90
S2 1766.30
S3 1726.10


SILVER

R3 42.77
R2 41.67
R1 41.21

PP 40.57

S1 40.11
S2 39.47
S3 38.37


IWM

R3 73.78
R2 72.63
R1 72.07

PP 71.48

S1 70.92
S2 70.33
S3 69.18




TNA

R3 50.25
R2 48.05
R1 46.98

PP 45.85

S1 44.78
S2 43.65
S3 41.45



TZA

R3 44.64
R2 42.69
R1 41.66

PP 40.74

S1 39.71
S2 38.79
S3 36.84


SDS

R3 23.68
R2 23.07
R1 22.72

PP 22.46

S1 22.11
S2 21.85
S3 21.24


SSO

R3 46.27
R2 45.08
R1 44.57

PP 43.89

S1 43.38
S2 42.70
S3 41.51

…………………………..GLTA

[ask2lern]

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

Nasdaq 100 outpaces other indexes

The indexes experienced a modest rise in Friday's trading. The Nasdaq 100 was once again the standout on a technical basis, breaking above its 200-day moving average.

The S&P 500 and the Russell 2000 by comparison showed far more modest gains. Neither of those indexes has made it to a successful test of its 50-day moving averages, let alone the 200-day.

Those moving averages could prove to be fleeting victories for the bullish camp. Index futures were down sharply as of late last night.

The catalyst this time, among others, was an emergency meeting held in Greece to discuss the ongoing debt crisis. Specifically at issue was the apparent need for even deeper austerity measures if Greece was to continue to receive tranches of its promised bailout funding.

With the futures as low as they were, it is apparent that we are still in extreme-range territory. I am leaving the Nasdaq 100 levels as they are, but it is possible that we could see a larger move breaking support. The next level below would be at 2244.51.

The S&P 500 gains an additional support level but now has only one resistance level. The downside risk once again seems the more probable outcome at least as far as the futures are indicating.

Support is at 1212.92, 1192.89, and then its 10-day moving at 1182.69. Resistance is at 1220.10.

The Russell 2000 has no changes in levels. It barely moved on Friday which means that levels did not change substantially as a result.

It has has support at 712.11, then at 694.60, its 10-day moving average, and 681.43. Resistance is at 718.59, then at 724.71.

Nasdaq 100 (NDX)
First support is at 2284.66. First resistance is at 2318.20.

For the PowerShares QQQ (QQQ) first support is at $56.08. First

[ask2lern]

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

Housing market index is sole report

There is just one economic report scheduled for today, the National Association of Home Builder Housing Market Index at 10 a.m. ET. The forecast calls for no change from last month, with the index expected to come in at 15. Estimates range from a more bearish 14 to a bullish 16.

[ask2lern]

Here are the SPY #'s I am watching.......................118.73 119.48 120.94.................as always I look for a break of these on volume that last for more then 1min............my overall bias is lower but may not see much lower today IMO.....................GLTA

[ask2lern]

Looking at the SPY weeklies it would appear that there is quite a bit of fear......too much?........heaveist volume is on the way out of the money puts.....................it is the volume on the SPY 110's that has me going hmmmmm......................

[crumbdon]

???Can't get a read here. Indexs want to lift, especially Nazzy, but banks saying we still got to drop more. ( ) I think banks win here, but just can't tell.

Anyone got a clue?

[Clinton SPX]

did a short scalp earlier for +2%
now adding to short position again

[Clinton SPX]

Dr copper is talking

Attachments:

[Clinton SPX]

wow that was some light vol last 2 hours

[Clinton SPX]

Venezuela To Ban Gold Export; State To Hold 55% In Gold-Mining Ventures

[dino]

feels like they extended opex by one day...

[Clinton SPX]

C collapsing. I should have added to my fin short

[Rich]

BAC on the precipice also, under 7 again

[Clinton SPX]

I added more anyway

[crumbdon]

MS still collapsing- new LOD right now. Great effort from bulls today, but banks are heavy. Still holding my 52.85 FAZ from fri, but may take the money and run here soon if a push above 1200 holds. Doesn't look like it right now, though.

[Clinton SPX]

Banks are wobbling like a bad tire

[Clinton SPX]

copper still near LOD

[dino]

remember weeble-wobbles? lol...

[crumbdon]

Sept 19, 2011 14:04:39 GMT -5 Clinton SPX said:

Banks are wobbling like a bad tire

Tire's OK- lug nuts are loose. You know what happens next. ;D

[dino]

holy crap they're still around! wtf?!?!?!

www.weebles-wobble.com/

[dino]

weebles wobble but they don't fall down. fas needs some weeble help.

[rex]

Sept 19, 2011 14:07:05 GMT -5 dino said:

remember weeble-wobbles? lol...

What did the bull say during the earthquake?

[dino]

i feel like a milk shake?

[timber]

are you short bac now clinton

[rex]

Sept 19, 2011 14:14:48 GMT -5 dino said:

i feel like a milk shake?

weebles wobble but we don't fall down.

[timber]

[dino]

Sept 19, 2011 14:18:00 GMT -5 rex said:

Sept 19, 2011 14:14:48 GMT -5 dino said:

i feel like a milk shake?

weebles wobble but we don't fall down.

oh, ok. you mind spelling it out for me next time? lol..