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ES 10-08-08

I cant wait to see how the talking heads explain tonites action!
"The futures sold off in sympathy with oil" would be my guess.
LOL..Joe, u once asked me about the longer term. Ive had an oppurtunity to look at it in detail the last few days. Using the same techniques i use to scalp it seems certain we bottom in 2-4 days rally strong ly till mid nov and decline into the mid jan 120 and 45 day cycle low. That may very well end the bear(at least for a few months)... Time will tell!
Incidently fwiw... c=1.618a on the leg from 1440 at 925.50 basis the cash
40 + pt rally in just the first 15 min , whoa
I was stopped out of the short +30 es on the rest...Added some SPY 105 calls at open.
sold one at 1009 4.5 stop
sigh.. down 5... here we go again
selling 2 @ 1021.50
covering one stop now..1022 on the other
I love Pivots...daily, weekly, monthly, I love it even better when there's a sq of nine near by.

As to your 2nd question it really doesn't matter why .146 (its phi to the 4th power) and .25 (1/4 or 2/8ths) but it all has to do with sq of nine....from each of my sq of nine numbers is sq root + or - .25 and then squared reason being that has to do with squaring a circle. All that matters is that it works.....146 used to work beautifully but now it moves that much in 2 min, so I don't use that any more once the markets calm down it will be useful once again.