# SPI goes up on Fridays



## amy997 (13 February 2008)

Has anyone else noticed that the last four fridays the SPI has had a massive up day of at least 100 points? Anyone know why this might be?


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## Trembling Hand (13 February 2008)

amy997 said:


> Has anyone else noticed that the last four fridays the SPI has had a massive up day of at least 100 points? Anyone know why this might be?




You often see patterns like this. only problem is by the time I recognise them they are just about to change.


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## Aviator33 (13 February 2008)

Trembling Hand said:


> You often see patterns like this. only problem is by the time I recognise them they are just about to change.




Does that mean we should see a 100 point drop this Friday TH?


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## TMC19 (13 February 2008)

amy997 said:


> Has anyone else noticed that the last four fridays the SPI has had a massive up day of at least 100 points? Anyone know why this might be?




And generally the DJI falls on a Friday night and we then get smashed on a Monday.


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## Trembling Hand (13 February 2008)

Aviator33 said:


> Does that mean we should see a 100 point drop this Friday TH?




Only if I go long Friday morning.


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## amy997 (13 February 2008)

It seems to me more like someone has a lot of momey to spend on fridays this year. Its not the superfunds, but it maybe people taking out margin loans. I read recently that people with money in tricom on margin loan could only get their money out on fridays. If thats the case makes sense it can only go in on a certain day as well. 
Any thoughts?


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## jet328 (13 February 2008)

Can't remember that far back, but have a look at what the DOW has done on the last 4 thursdays as I think they have been decent


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## Nick Radge (13 February 2008)

Its quite common for a Friday to be counter trend to the weeks trend, especially in bearish times such as we're seeing now. The reason is that larger traders are advised to square up positions into the weekends. During the week they can hedge their exposure but on weekends they are fallible. So when you see an up Friday it means the larger traders have been short and are covering.


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## Aviator33 (13 February 2008)

Nick Radge said:


> Its quite common for a Friday to be counter trend to the weeks trend, especially in bearish times such as we're seeing now.




Nick - do you find that this holds true for equities as well or are you mainly talking futures here?

Cheers
AV

p.s. Read Adaptive Analysis a couple of weeks back. Brillant work!


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## Trembling Hand (15 February 2008)

No Green yet!

Thou it has put in a low early after the open and been going up since then. Does that count?


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## julius (15 February 2008)

we've seen rally into close the last few fridays after 2.30pm...

observation courtesy of Frank D

Nick that makes perfect sense... (you'd certainly be looking to hedge your long positions atm)


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## Nick Radge (15 February 2008)

Its on its days highs with 10-mins to run...100pts off its lows


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## julius (15 February 2008)

14:48


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## Trembling Hand (22 February 2008)

Anyone taking bets on a higher close?


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## TMC19 (22 February 2008)

Trembling Hand said:


> Anyone taking bets on a higher close?




Big call - can't see it happening though.

End of day will be interesting - maybe a lot of people closing shorts might push it up towards late afternoon.


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## Trembling Hand (22 February 2008)

TMC19 said:


> Big call - can't see it happening though.




Where has that Bookmaker gone??

I wanna cash my ticket in now thanks :


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## TMC19 (22 February 2008)

Trembling Hand said:


> Where has that Bookmaker gone??
> 
> I wanna cash my ticket in now thanks :




Excellent call TH.  Delighted to see it!!  Lets how the DOW backs up tonight and a good start to next week.


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## julius (22 February 2008)

*note that todays rally commenced at 14:26...*


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## Trembling Hand (22 February 2008)

4 min before the Nikkei re-opened. Often a catalyst.


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## julius (29 February 2008)

here we are at another friday...

currently ~40 points off the lows at 5500 at around 12:20

let's see what happens into the close


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## Trembling Hand (29 February 2008)

Gee! it would be some run to get over the open. 

Think from here if your long the only thing to look forward to is :drink:


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## julius (29 February 2008)

I'm long at 5530...stops at 5526


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## julius (29 February 2008)

moved stops to break even at 5530


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## Trembling Hand (29 February 2008)

julius said:


> I'm long at 5530...stops at 5526




Never tell the market your stop.


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## julius (29 February 2008)

stopped b/e at 5530


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## julius (29 February 2008)

haha trembling you bastard it was you wasn't it !


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## Trembling Hand (29 February 2008)

Sorry


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## Trembling Hand (7 March 2008)

OK punters. Anyone going to have a flutter??


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## Trembling Hand (14 March 2008)

Well this aint workin any more.


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## Mike Trader (14 March 2008)

amy997 said:


> Has anyone else noticed that the last four fridays the SPI has had a massive up day of at least 100 points? Anyone know why this might be?




yes ,with the expectation of higher prices Monday-but it all depends on the Friday night Dow,I am a short term trader ,and at the moment would not carry a position over the Weekend.May not be the right answer,but it works for me.Cheers Mike


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## theasxgorilla (14 March 2008)

Mike Trader said:


> yes ,with the expectation of higher prices Monday-but it all depends on the Friday night Dow,I am a short term trader ,and at the moment would not carry a position over the Weekend.May not be the right answer,but it works for me.Cheers Mike




I'm a bit of a dummy at this stuff, and don't know exactly what instrument you're trading...but would you earn interest if you did hold over the weekend?  If so, are you saying even that compensation/bonus is not worth the risk in this market?

ASX.G


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## Nick Radge (14 March 2008)

It rallied 40 into the close.... didn't it?


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## Trembling Hand (15 March 2008)

Nick Radge said:


> It rallied 40 into the close.... didn't it?




Only from a low set @ 3:00. Its not the same pattern from a few weeks ago when the low was set in the morning and then run higher in the arvo mostly making new highs. The high on Friday was set @ 10:20. Then each rally was lower.


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