Trades,
I use the monthly and weekly for narrow range trading - HGU/HGD, and the SPX..They can give you good set ups.
I use the dailies for the monster movers like TNA/TZA. The triple etf's have huge ranges that can knock the piss out of weekly pivots.I daytrade the triples. No overnight positions - yer right - they can dump over $ 1.00 or more on the open.
I usually plot the pivots on the Russell 2000 - and trade either way.
If you plot weekly pivots on the SPTGD(TSX Gold Index) - you can set buy/sell stops at the HGU/HGD levels during the week. Grab a weekly chart and you'll see what I mean.
The daily range in the triples gives you more than enough room to trade. I usually want to just catch the middle of the range. One of the master traders in "Market Wizards" said that he wants to be just like a bird and peck away at the crumbs - the middle of the move.
On Friday, TNA moved from 37.17 - 42.88. My first pivot was at 38.04, which is where I entered. R1 was at 42.68 - but I got out at 42.00. I was only after $3.00 - but stayed in until noon. I got another buck out of it. Very tense trades - they can dump in a New York minute.
SPXU is also a good one to trade - less volatility than the Russell.

Hope that helps!

I still have not heard from Dr. Marty.