SPI Trading 6th February 2008 part 5

15:40

SPI: RECAP

SPI consolidating after the 44 point UP-swing, heavily influenced by BHP and it's decrease in earnings.

Expectation that after 44 point up move and previous 5-day lows @ 5656 that holding Longs were open to RISK, because of the higher timeframe Trends, and potential push lower towards the 3-day lows.

There is a Gap on the upside that will look to be filled, and that will depend on whether US markets rotate upwards from their 5-day lows on Wendnesday (US Report later)

I haven't traded again since this morning, next trade tomorrow.