Freddie runs into major resistance

Freddie Mac ran into the yearly pivot(yellow line marked P and blue arrow) last Friday, and today is starting to selling off. Smart traders used the yearly pivot to book profits and some traders went short there.

Euro likes daily pivots

Today, the Eur.Usd found support on the intraday S1 pivot and a double bottom on S1(see blue arrows), and rallied up to the R1 pivot. Pivots give traders an entry and exit plan to trade.

HGSI is a 10 bagger

Back in April on this blog, I recommended buying HGSI at $2. It hit $24 yesterday for a 10 bagger.

http://mpgtrading.blogspot.com/2009/04/human-genome-sciences.html

S&P monthly pivot tough

The S&P ran into the monthly R1 pivot(green line marked R1) this week at 1033 and cannot close over it. Now were getting a small sell off that should take us back down to 1000- 1005 and fill the open gap(blue arrow) there.

Traders in my trading room have been shorting the monthly r1 pivot.

S&P targets

The S&P bounced off the yearly S1 pivot last March(blue circle). Will the Yearly R1 pivot be it's high at 1225, or the open gap at 1100?