SPI Trading 3rd January 2008 part 2

10:05am


SPI opened much higher than expected.

Didn’t leave much room for any upside trades.

Pushed down early into an R22 lows (Premium report:- look for a 22 point move against the trend before any upside moves)

Push down into the 5-day range lows of 6261 (major Risk level)

Expectation now that 6295 gap will hopefully close…

Long Entry 6264 (added 6270)

Partial exit 6280

Next exit 6293 (first Gap Closure)

Holding 1 long with breakeven stops from entry.. @ 6270