SPI goes up on Fridays

[Trembling Hand]

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:

 

[julius]

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

 

[julius]

moved stops to break even at 5530

 

[Trembling Hand]

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

Never tell the market your stop.

 

[julius]

stopped b/e at 5530

 

[julius]

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

 

[Trembling Hand]

Sorry

 

[Trembling Hand]

OK punters. Anyone going to have a flutter??

 

[Trembling Hand]

Well this aint workin any more.

 

[Mike Trader]

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

 

[theasxgorilla]

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

 

[Nick Radge]

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

 

[Trembling Hand]

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.