SPI Trading 22nd February 2008 part 3

10.30

SPI bounced off the lows and is back into the 3-day lows and resistance @ 5515....

i'm surprised that it has moved back up into the 3-day lows, I thought it was just going to continue down....therefore there is a lot of support around these lower levels today (5493)

Looking at the R44 range it has to complete one way or the other...preferrably down... (upside 5524)

stopped on trailing @ 5509 (breakeven stop)

re-entered Shorts on double r22 high

S 5511 partial exit 5498 (+13)

holding 1 lot with the expectation that price is heading lower....

if stopped on this trade (stops @ 5516) no more trading today....

looking for an exit @ 5452....