Seeking Alpha
  • Ricardo Espinosa
    SPY will respect the 3rd fibo pivot at 141.22, STO 50 SPY weekly 141/142 bear call spreads @0.46, keeping a tight leash on this one.
    3/26/12
    Reply (14)
    • Skizz: wheres the best place to learn about the fibo pivots? you seem to use them effectively and id like to learn the logic behind it...
      3/26/12
    • Brian Benda: Pisa, Italy.
      3/26/12
    • Ricardo Espinosa: I learned by using them on stockcharts.com, type fibo after selecting pivot points, google fibonacci retracement and advances, very useful.
      3/26/12
    • bajjiblow: how do we select pivot points on Stockcharts for a stock? I have never used it before
      3/26/12
    • Ricardo Espinosa: on the overlays, select "Pivot Points", and on the "parameters" part, it usually says nothing, type "fibo", and the fibonnaci pivots appear.
      3/26/12
    • bajjiblow: Thanks. Learned a new concept today
      3/26/12
    • Josh Krause: 141.22 Fibo just went down without a fight. Market is shooting for 1417+ no matter what. Bernanke gave the go ahead or something.
      3/26/12
    • Ricardo Espinosa: SPY´s pivot at 141.22 is less important than SPX´s at 1417.65, it touched it today...I´ll be opening short positions tomorrow.
      3/26/12
    • Josh Krause: Already well above it in AH action. Tjey are shooting for 1425
      3/26/12
    • Ricardo Espinosa: Will be there in the morning, hope it goes above 1430, the better I´ll feel about shorting.
      3/26/12
    • Brian Benda: 1440 was the April/May 2008 peak in SPX. Seems like the next technical resistance level above current.
      3/26/12
    • Brian Benda: SPX already above the fibonacci 78.6% retracement level at 1381 of decline from 2007 all-time high to 2009 low. New high inevitable.
      3/26/12
    • Brian Benda: Any near-term pullback will just be another buying opportunity in the march to 1576 and beyond. Dow just 7% below all-time high at 14198.
      3/26/12
    • Josh Krause: This business will get out of control. It will get out of control and we'll be lucky to live through it.
      3/26/12