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Date |
Time |
Comments |
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31/05/2007 |
17:24 |
We rallied higher today, but I'm not yet convinced for a case for either high or lower prices yet.
Still watching and waiting.
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30/05/2007 |
17:11 |
It was a volatile day today, with prices ending in the bottom third of the days range.
A break of 6225 could be an indication of lower prices, but I'd have to wait and see the hourly price action if that happens.
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29/05/2007 |
16:57 |
We saw a strong bounce today.
This may only be a reaction to the recent falls, so I'm still waiting and watching to see how this develops.
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28/05/2007 |
18:11 |
The SPI dipped lower before an attempt at a rally today.
Prices have dipped again and are currently holding above the previous low on the hourly chart in early night trade.
Wall Street rallied on Friday night, so some follow through may occur when the US market opens later tonight.
I'm still waiting to see the direction of the next 'decent' sized move.
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25/05/2007 |
17:26 |
After yesterdays fall, Wall Street came in weaker which continued the theme for us today.
We're right at the bottom of the 12 day trading range - let's see whether this level holds. We may see a bounce as prices have come off quite a bit - have to keep an eye on Wall Street over the weekend.
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24/05/2007 |
16:43 |
The SPI dropped significantly today, but is still at the lower end of the trading range of the last 12 days.
It looks like breakout is shaping up, but I'd like to see a bit more action and a new trend develop before getting involved.
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23/05/2007 |
16:42 |
After a dip, we ended in the upper half of today's price range.
We're still slap bang in the middle of the trading range of the last few days though.
I'm watching and waiting.
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22/05/2007 |
21:28 |
We're moving higher, but it's not exactly inspiring.
I'd need to see a convincing breakout, either up or down, before I make a trade.
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21/05/2007 |
17:00 |
The SPI moved higher from the open and after a pullback continued higher for most of the day.
Prices came back toward the end of the session, back with the trading range of the last 9 days.
So, we haven't broken out as yet.
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19/05/2007 |
14:10 |
Prices started to edge up, but came back down yesterday.
Not much progress this last week, we will have to wait to see what next week brings.
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16/05/2007 |
20:46 |
Today's night session has opened strongly and we're now at the top of the trading range of the last 6 days.
I'd like to see if this lasts overnight, with Wall Streets influence, and how things shape up at tomorrow's open before getting too excited though.
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16/05/2007 |
16:52 |
We moved higher again today, but are still constrained in the current trading range.
I'm waiting for a break, either up or down.
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15/05/2007 |
16:47 |
We moved down again today.
The SPI has been stuck in a range for 5 days now - it's probably best to wait for a breakout.
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14/05/2007 |
17:06 |
Prices bounced back today.
I'm going to try and keep a longer term perspective, so here's the latest daily chart:
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| 11/05/2007 | 16:52 |
With a plunge on Wall Street, this rippled to our market overnight and my first trade was stopped out with a small profit and the second with a loss (I moved my stop on the first trade up a few points and the stop on the second down a few, not that it helped any).
The longer Daily trend is still up at the moment. See what next week brings.
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17:12 |
As prices look like they're in a strong position, and with Wall Street making new highs, I've added to the position and bought @6268.
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16:41 |
We've moved higher today, after an earlier dip.
I think prices should move up from here.
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10/05/2007 |
11:00 |
I moved my stop to 6300 to protect the trade.
Things are a bit choppy at the moment but we're still holding above the lower green consolidation zone line.
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We moved up strongly today, but had a lots of volatility into the close.
The daily trend is still up and hopefully, this time, my stop is wide enough to cope with the night session.
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09/05/2007 |
10:08 |
Well, prices dipped to 6270 in the night session, so that stopped me out! Of course, the SPI then bounced off this level and when up another 40 points at one stage.
It's times like this I need to remind myself that "if you get stopped out without a loss, you can always trade again".
I've re-entered @6296 (stop @6250) because, as you can see from the chart below, the daily trend is up.
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08/05/2207 |
16:49 |
After last nights session and today's budget, we have ended slightly lower than when I posted yesterday.
Often, news such as budgets, can temporarily deflect a trend - but only temporarily.
The trend is still up and prices found support on the longer term green consolidation zone line.
I'm expecting prices to continue up from here - not sure how far right now, but I'm expecting to see new highs that aren't too many points away from where we stand now.
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07/05/2007 |
17:00 |
Prices moved high on Friday afternoon and in the night session.
Today, we pushed higher again reaching new highs.
The trend is up and I'm expecting higher prices from here.
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04/05/2007 |
14:47 |
Prices have moved ahead today, as you can see from the chart below.
I've moved my stop up to the entry point @6270, so hopefully this will give the trade enough 'room to move' and prices will make further headway.
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17:10 |
This is the Daily chart and it shows we've broken out of the consolidation zone on a longer term basis.
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03/05/2007 |
13:34 |
We saw further progress overnight.
In today's day session, we have prices come back and they found support around 6240. After rallying to 6280, when they came back again I bought @6270 with a stop at 6232.
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02/05/2007 |
17:03 |
We saw a break above both consolidation zones today, although prices came back a bit to close on the green line.
I think I'll wait for a retracement to see where it ends before making a trade, for confirmation that trend has turned up.
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01/05/2007 |
18:41 |
We're still in this consolidation zone, so no real change.
As mentioned in recent April posts, I'm looking for a break out to the upside but am prepared for a break in either direction.
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