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Archives for June 2006

SIMSCI 09-June-2006: Second trade: Long: Trade closed

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[photopress:simsci_full_day_1_2.jpg,full,pp_image]
I am twisting my mind again. After closing a lossing short position, I established a long position at 277.3.
I did not expect this as a strong run, my profit taking order was set at 278.2 which was triggered around 230pm. with strong presentation in 9-min chart, most likely I am missing out some bigger profit again. However, I did have some worries when looking at the spread of SIMSCI futures, it got a little bit wild sometimes with 3 ticks different, intraday volatility is strong. My initial profit taking target was day high 278.7 (which was hit after I closed my trade at 278.2).
Second trade of the day with +0.9 gain. I closed the day and the week with positive note.
I am facing a problem with profit target calculation. More works need to be done.

RE: SIMSCI 09-June-2006:Potential short: Lost trade

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SIMSCI futures
[photopress:simsci_morning_9.jpg,full,pp_image]

Before SG market went for lunch break, I have decided to close my SIMSCI short position with a loss at 275.7 even though planned trailing stop was at 276.2. There were signals that contributed to this exit decision. From 9-min chart of SIMSCI, a positive divergence was observed, and it was , in fact, getting stronger. I was very uncomfortable to see positive divergence when having a open short position.

Nikkei225 Futures
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Another strong reason to exit short position was from Nikkei225 Futures. Again, a positive divergence was observed. That was a scary scene. It was preparing to run up. In the event that intraday upward movement started, SIMSCI futures is likely to have a gap up in the afternoon session.

I might be missing out potential profit, but, safety in the market is my objective. Fast decision made. One lost trade with -0.6 loss.

After trade analysis:

SIMSCI Futures
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In fact, my short position was not supposed to be established. This can be proven when doing analysis retrospectively. Before Short position was established, from 9 min chart, a positive divergence was formed. This is a sign of strength, and no short position should be established.

RE: SIMSCI 09-June-2006: Potential short

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Short order is set at 275.1 level and it was triggered. Lower highs are observed with flat HangSeng. I discounted chances of strong rebound today. Market sentiment shows a flat with negative biased. Intrady Nikkei futures shows a downtrend is being formed as well.

SIMSCI 09-June-2006: Potential Short

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DJ made a come back and closed +7 point after early loss. Some analyst starts calling bottom. I am holding a different opinion. It is still to early to define bottom. Back to day trading business, I am not bullish about SIMSCI today. In fact, it opened high, and subsequently trading below day high in the first hour. Nikkei futures behaves in the similar way. and it is almost flat at the point of writing this posting.
I am interested in looking for SHORT opportunity for now.

RE: SIMSCI 08-June-2006: Potential short: Missed trade

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[photopress:simsci_full_day_1.jpg,full,pp_image]

At 130pm local time, Nikkei Futures has lost -600 points. This is bearish. I was looking at short SIMSCI at 275.3. The support of market crashes seems to be getting stronger.

It was too fast, too furious. With Nikkei losing more than -500 points, the weaker SIMSCI followed with panic. My short order at 275.3 which was submitted in the morning was not triggered at all. And SIMSCI dipped below my maximum chase level. I have decided to forgo this trade as I am not used to chase a trade (In fact, I walked away from my workstation to avoid the temptation). A perfect plan, a disappointing execution. What a potential big profit, what a miss. Disappointed day indeed. No trade, 0 point.

SIMSCI 08-June-2006: Potential short

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With DJ sank below 11,000, it is expected to see negative opening in Nikkei then followed by SIMSCI. At this point of time, for intraday time frame, downtrend is being defined. I am looking for price setup to complete in order to establish short position for today.