In the first hour of trading, downtrend is formed. With Nikkei loses around -200 points and HangSeng loses around -150 point, sentiment is negative biased. I am looking for opportunity to establish Short position on SIMSCI.
Blog and Rants
RE:Paper Trade Series: Mini Dow 22-June-2006: Trade closed
After watching RSI making higher low and 10-min chart showed a undecisive movement, I closed the trade at 11,130 , with -18 points loss.
Paper Trade Series: Mini Dow 22-June-2006
I am looking at Short position of Mini Dow at 11,112. A established downtrend is shown in 10-min chart.
RE: SIMSCI 22-June-2006: Long Trade Closed
[photopress:simsci_10_trade_close.jpg,full,pp_image]
Long position of SIMSCI was closed at 282.4. Volume did not support buyers to push up further, and RSI was forming failure swing. A descending triangle was forming as well. I do not like the situation like this. Closed the trade with small gain. +0.4 point.
I was very unhappy with the liquidity of SIMSCI. Sometimes it does give me the feeling of ‘Why on the earth I am wasting my time trading this dummy index futures?’. Look at the daily volume, it is hardly cross 5000 contracts.
I do see opportunity in SIMSCI futures trading, however, given the lack of liquidity, I am considering switching to some other better choice.
This is 10-min chart of SIMSCI as at 3.30pm.
RE: SIMSCI 22-June-2006: Long Trade
After Nikkei gaining +400 points. I have established a Long position of SIMSCI at 282. SIMSCI does not seem to be strong. Closed trailing stop is placed.
RE: SIMSCI 22-June-2006: Potential Long
In fact, there were two opportunities to establish short position for SIMSCI at 1010am (281.7) and 1140am (281.3) , and these opportunities were proven to be profitable before lunch break. No action was taken as Nikkei and HangSeng were showing strong gain with more than 200 to 300 points gain. With positive regional sentiment, I would rather go Long or simply not trading.
