Bobby said:
Well done iSPI!
What are your thoughts on the SPI at the moment?
Regards
Bob.
Bob
I think it has further to go.
Momentum appeared to slow today.
6 sept 2006 lined up on time and price for me, I don't have a time for the end of this run down showing yet. Keep in mind I don't make forecasts months in advance my time and price system often shows the day before or on the day itself.
We have had a decent run down though so it seems probable that there will be some profit taking and a a rally soon.
I am seeing
nothing that indicates anything positive for the upside
If I hadn't of put my stop too close I would still be holding my shorts.
I also need to point out I didn't hold all 5 contracts for the full period
I closed out on the 7th and reentered short 2 contracts on the same date
which I exited yesterday.
I made the same mistake twice, put my trailing stop too close...
Heres what I said yesterday
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Posted: Mon Sep 11, 2006 3:45 am Post subject:
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We should see some resistance at 5025 and 5000 if it gets that far.
We are at 5040 now and we still have the this afternoons happy hour
to come yet.
Friday high 5109 todays high so far 5108 looks like a double top.
Weekly chart high 7/7/2006 5153, 8th sept 5170 what is know as a lazy M
like a double top.
Market could end up near 4592 if it follows double top/lazy M behaviour
It will be interesting to see what happens if it dips into the channel from
14th July to 16th august.
The top of the channel was around 5012, the bottom 4871
these will be intersting to watch if we get there
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