SPI Trading 25th March 2008 part 4

SPI 10:22

Exit last 5375 + 35

No more trading for me until the afternoon, I'm going to sit it out and watch how things develop, and see whether the 5-day highs end up supporting the market today.

the stock report....

As per my exit zones on NAB @ 30.90, NAB hit a high @ 30.87 and I've covered @ 30.80 to be neutral on NAB trading stock:- just over 14% on the trade.

CBA is the only one left open on banking stocks:- exit was $43.90


However looking at how banks are retracing with WBC today, CBA could end up back around $48.00, therefore I have removed my exit zone of $43.90 for the time being, as it's the only trading stock remaining....


Note: WBC is around $25.00 today ,and looks like the higher drive upwards is pushing the April 50% levels much higher in the next Quarter. (April 50% levels confirmed on the close of the last day of March)