Trading the SPI

[Pager]

Why??

I reckon a run upwards is in order this afternoon. Maybe starting 1:30pm when people get back from lunch and think, hmm time to buy something...

Seriously.

I work full time realist, cant be watching the market all day, as much as would love too, my employer may not be that happy, usually the open and somtimes the close or i sneak a look as im doing now .

Just logged back in and its at my buy level 5051, although ive missed it for now.

Had a bit of a gut feel at 5022 that it was a great buy, but alas didnt take it, so so far today + 4 from the short.

 

[Pager]

trading 56 now, bugger 5 mins earlier i would have been in at 51, had a limit buy placed but only came back to 52.

dont really want to be buying on the pullback if it occurs as it may have been a failed break and had i been in would be going out for a point.

another missed opp, looking for a break of 60 now unless work beckons me back .

 

[Pager]

just traded 60, but never took it, got to get back to work and the trade dont feel right, plus lunch time and maybe fairly quiet for and hour or 2.

 

[Bronte]

SPI Morning Session
Story so far:
5062 High

 

[Realist]

Yes I had a feeling it'd be going back up, earlier than I thought though. I'm thinking it'll just go sideways till the US open now.

 

[Pager]

Was looking the wrong way today !, made 4 points on the way down, then missed my buy level around 5050, should have left the buy on stop working, also pulled out of the buy at 5060, then I see we went up to 73.

Another frustrating day on the Spi, always expect the unexpected

 

[Pager]

Going into the close quite strongly, currently 77/78, so on our highs maybe a bit more if we get over 80 on the short side a break below 73/72 may be the go, see how the cash settles

 

[Pager]

long at 80, looking for a quickie

 

[Pager]

out at 86, had a quickie, looking for the break back below 80 now, looking for a close about the same as the cash around 73/74

 

[Pager]

still consolodating around 83/85, looking for a false break higher up to 88 maybe then a push lower, no position at present, still looking for the short, now selling 82 on stop

 

[Pager]

strong market, should have held long for an extra 4 or 5 points.

Hindsight is a wonderfull thing though .

 

[wayneL]

There are signs of a bottom in the metals/oil futures (short term at least) which will be a positive for the ASX (short term at least)

A good case for being long for the next few days imo

 

[Bronte]

Todays SPI:

 

[iSPI]

From 16th Sept

Looks to me so far that we need more on the upside before
another pullback.

Now just how long I don't know it might be only half a day
but my system is saying we need to go up further before it can come down
and it seems to me there has been alot of selling despite the recent
upwards moves.

I'm weeded out some of my peripherial info it causes to much conflict with my systemic/mechanical signals .

If you look back my first signal for going long was around 13th sept.

Anyway got another buy signal today at 5046 ....
stop loss is at 5021.

 

[iSPI]

I'm out on Sycom @ 5082
simple case of tomorrow lining up to be the completion of half a time cycle.

 

[Bronte]

Yes iSPI we have a timeframe day today as well.
If this High holds 5105 we will have some fun.

 

[Bronte]

Yes iSPI we have a timeframe day today as well.
If this High holds 5105 we will have some fun.

SPI chart:

 

[nat]

afternoon ,ive been trailing some live futures data and charts and have vol up on the 1 min chart ,just wondering if people use volume on a chart much in trading the spi ,im struggling to make sense of it half the time till after the fact .Nathan

 

[Magdoran]

Is this a false break today? If this becomes a lower high, this starts to look pretty bearish for the short term.

If so, it may find support, and how it trends from there will tell us a lot about where this index is going.


Mag

 

[wayneL]

Is this a false break today? If this becomes a lower high, this starts to look pretty bearish for the short term.

If so, it may find support, and how it trends from there will tell us a lot about where this index is going.


Mag

Mon Dieu!!!!

When the banks roll over and die this index in in deep doo-doo.