Tuesday Feb 26 - Rogue Traders day

SPI Futures traded in a 25 point range last night, with a high of 6153, low of 6128 and a close this morning of 6130 down 15 points on volume of 9,554 contracts. Based on that range, my pivot point and R and S levels for today are below. No gaps from last night on the upside nor from previous days, and a gap from yesterday down at 26 and the start of lower gaps from previous days down at 6075.  DOW up .23 pct, SNP up .12 pct and Canada (resource driven) up .29 pct a far cry from the up 5 pct China session. VIX down .54 pct to 14.83. I'm thinking a gap up on open, then a 26 poof. We shall see.

On this day in 1995, Barings declared insolvency and were placed in administration after huge losses on Nikkei futures and options in Singapore by rogue trader Nick Leeson on the SIMEX exchange. How time fly's. I have a faxed (remember them?) margin call signed by him hanging on my wall. I wonder if he wants it back. Have a nice day.

	Column 1	Column 2
1	H	6153
2	L	6128
3	C	6130
4	R	25
5	R6	6162
6	R5	6156
7	R4	6152
8	R3	6150
9	R2	6147
10	R1	6143
11	PP	6137
12	S1	6131
13	S2	6127
14	S3	6125
15	S4	6122
16	S5	6118
17	S6	6112