Interdum stultus opportuna loquitur...

Friday, November 05, 2004

Some More Numbers...

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Every clot on the planet can calculate these, but from now on I will post them here anyway (in the interests of completeness, and all that)...

These are the so-called "floor pivots" (also called "pit pivots"), which a re a group of numbers that traders use to try and figure out who's in charge.

R2104371174.71539114 5/32
R1103681167.71527.5113 29/32
Pivot102441154.91511113 21/32
S1101751147.91499.5113 13/32
S2100511135.11483113 5/32

Above the pivot, it's usually worth seeing if prices can break through R1 before initiating long positions; if R1 is broken without any massive push (i.e., without TICK rising to greater than 1000), it's usually reasonably safe to take the "up through" trade - check to go long with R2 as the objective. If you're a brave sort, and the market looks overbought at R2, let slip a short with a tight stop.

Below the pivot, let S1 break before initiating shorts - so long as things aren't in "dumpola mode" at the time (i.e., if S1 is broken from above before TICK hits negative 1000). S2 is then the objective (and if you're a daredevil, trade long looking for a bounce off S2 if everything looks horribly oversold).