redback report, week ended 23/7/2010, page-5

Could'nt agree more Robb with your could and should statement.
Thanks to Redback's report always great ..I'm giving myself the next 3 rys to learn stuff about stocks and I really like the stuff you put up on your youtube Robb so many thanks it's great stuff.
Do I do my homework on what I trade too ...you betcha !!
Spi today is a question of do we continue this breakout or not... might be a day or two before we know.I'm sceptical because of recient trading.However, even though the re-connection with the previous bracket comes down at 4445 I'm prepared to give it a bit more room say the 50% fib level of 4412 before I'll accept it's a dud. I'm going to attempt to fade the market either way today , buy pull backs and sell rallies.Don't know what anyone else thinks of this aproach today or this chart.Soz I don't have the XJO data I'm trying to get it into my data base , but I imagine the charts look pretty much the same ..just the prices diferent as the SPI is trading about 20-25 ticks in discount at present.