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.

IM GONNA SPEND MY .5 HANDLE PROFIT FROM GLOBEX and sell 1010 or so

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.