SPI Trading 19th February 2008 part 2

10:07

Resistance/sell zones 5654.....

Expectation gap closure of 44 point downward fade.....

Each way bet ( no probability)

hits gap closure @ 5613-5605 and swings back upwards taking out highs....

Bearish pattern is to continue down below 5605 breaking 5-day 50% levels (down trending day- random length)

Entry S 5654 and added 5647

Partial exit 5634

Next exit 5617

Holding 1 lot into close or 5570

Even though there can be support around an R44 low and rising upwards:- above 5-day 50% level, i'd rather see if banking stocks are going to take our market down further with this sell zone.....

Stops @ 5647 after exit @ 5617