Today’s Outcomes
Today’s closed trades (targets as detailed below) were from Friday’s entry, which was at 4595 as the e-mail below indicates:
Subject: Re: SPISpy Short: SPI target 2 hit in the overnight
Date: Fri, 11 Sep 2009 13:28:27 +1000
Yesterday gave another dud third-lot for those trading more than 2- stopped out with nothing except the gain on the first two.
SPI is showing a textbook CCI divergence on intraday charts, and will close the week having registered a CCI divergence on weekly charts.
Short again above 4595 (although if you’re late and get in above 4590 it won’t hurt much). Currently bid 4599.
Targets 20 (yep – 20 for the first contract), 50 for the second, and an open target for the last. If the second target is hit (on Monday, most likely), then introduce a stop on the third part of the position to lock in 20 points on the last third.
If SPI/ASX200 closes below 4500 for two days running, the medium-term target is 4135; two consecutive closes below will lead to a bounce back toward 4250, but once that is done it will open a target of 3750.
Cheerio
SPISpy.
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