[photopress:simsci_12_full_day.PNG,full,pp_image]
There was a second entry opportunity to Long SIMSCI. Due to some personal commitment , I gave up the trading opportunity. Anyway, second entry was at 283.9 with potential exit at 284.8.
It was a strong day for SG market, which in turn provides SIMSCI day trading profit oppportunities.
I closed the day and the week in positive note again. Total gain for the week is +2.8 points.
I have closed Long position at 283.1. After watching price action at the area of day high (283.4), uptrend seemed to be getting weaker. This does not mean a reversal is kicking in, it just prompts me for profit taking. Notice about DI+, similar weakness was observed as well. To confirm this decision, I turned to 9-min chart.
I might be wrong which might miss out bigger profit in the afternoon session. However, day trading is all about discipline and timing, I do not act on expectation. In fact, at 1130pm, my position was already in-the-money. Not so bad for 2-hour trading, a positive Friday with +1.2 gain.
Long position of SIMSCI has been established at 281.9. SIMSCI seems to be gaining strength again. Sentiment remains positive.
Another three digit gain for DJ again. Positive opening of Nikkei , SIMSCI as well as Hang Seng is just expected. In the first hour of trading, SIMSCI, in fact, drifting down from open price. With both Nikkei and Hang Seng stays more than +300 points gain, I am looking for opportunity to establish Long position in the weakness of SIMSCI movement.
Given yesterday’s positive closing of STI and recent rally of U.S indices, I did a scan on my stock list for potential swing trade candidate. Few china counters appeared in rally with volume scan. However, none of them passed the directional and trend test for the time being and most of them are actually trading below 150 and 200 day moving average.
I would prefer to stay away from stocks market today and wait for more confirmations about this rally (or maybe , just a relief rally).
[photopress:simsci_full_day_12_1.PNG,full,pp_image]
What a disappointing day. In fact , it was a ‘do-nothing’ day for me. SIMSCI futures was choppy and weak, even though Nikkie Futures were strong. No trade was made. I might be missing an entry at 275.4 around 415pm. I gave up the opportunity as I do not like the way market moved. The potential reward was not attractive enough for me to take risk.
No trade.
