TreggsYes the rush to find more money to contribute to super...

Treggs

Yes the rush to find more money to contribute to super last year has backfired so far for a lot of people - I know a few who borrowed heavily to top up their super to the maximum allowed.

Well, the latest short SPI200 trade was stopped out at 5627 sometime today while I was flying to Sydney - maybe I shouldn't have lowered the stop so aggressively? I guess I'll find out in the next day or so.

The trade still was pretty good, although adding to the position as SPI dropped hurt me a bit in the end:
* first 4 contracts in the original position netted 230 each for a total of 920 points
* 5th contract netted 129
* 6th contract netted 30
* 7th contract netted -70
* 8th contract netted -172
* total points 837.

I think the original premise for the trade stands and so I have placed another conditional order to short at 5850. No idea if it will get filled in the short-term. Probably will given the volatility in the markets at present.

I'm still looking for a downside target of 4772: a 50% retracement of the March 2003 - November 2007 bull market.

Any thoughts on XJO direction over the next few weeks?