SPI Trading 16th January 2008 part 2

10:00am

SPI opened below 5847 and has moved down into an R44 range low....@ 5790

high Risk continues to remain whilst trading below this level, but I don't have any overall levels to trade towards whilst below this......

Yearly levels @ 5716......

No trades taken this morning, as I was looking for an R22 spiral top to trade into the R44 lows....

I'll watch how the market trades for the moment, as price could swing back towards athe R44 top once again before heading down later in the day (as it remains below the 5-day lows)

If trading upwards from the R44 lows, limit longs to bear minimum lots as it's high risk....