SPI Trading 22nd February 2008 part 6

15:40

Late buying has pushed the SPI upwards into the 5-day 50% levels, and the buying came in once again around the 14:36 timeframe, but it didn't align with a spiral point to trade upwards so I didn't trade any longs....

In hindsight:- the Quarterly lows once again were supporting price at the time...

I did enter shorts on the R44 high @ 5507 (stopped- 5513 -6)

A higher risk trade but the trade was warranted because price was trading below the 3-day lows....

Full Weekly report tomorrow.....