SPI Trading 28th February 2008 part 5


15:45

SPI has come down tested the 3-day break @ 5624 and has bounced up into an R44 spiral top and consolidation into the end of the day.

I was looking to trade around 5606 and the previous 5-day lows, but ended up paying 5637 just before the 14:36 buying came in.

The reason for the trade was the expectation that the R44 was going to complete the range @ 5655.

Entry Long 5637 and exit 5651....

The entry 'short' spiral point that I was looking for all day occured late in the day...... (no trade)