I am looking for opportunity for possible Long position of SIMSCI today. Unless there is any surprising news released, I do not expect huge movement today. Sentiment is rather flat with positive biased. Setup is yet to be completed after first hour of trading.

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It was not a good trade. My initial target of 290.5 was not achieved. Market is pretty resillent, but not strong enough for me to go long, yet. I have closed my short position at 291.3 after seeing Nikkei back to +120 gain and RSI of SIMSCI making higher lows again. Short position closed with +0.1 points gain.

This SIMSCI Futures 10-min chart of morning session.

Though SIMSCI gapped up at opening, it drifted down after that. I see an opportunity for SHORT position on SIMSCI futures. In fact, short position has been established at 291.4.

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A three digit gain in DJ. Nikkei gains more than 300 points in the first hour of trading, SG gains around +8 points, pretty bullish day. I am watching for any possible entry to Long SIMSCI. With this type of big gap opening, patience is needed if one is to day trade. It might end up as a boring day with no trade setup completed.

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I am having some problem day trading SIMSCI. I should say, it is a little bit difficult to find trading opportunity within the day. First problem lies in volume, for example, in the first two hours of trading today, less than 1000 contracts were traded. Secondly, intraday volatility is not impressive enough to generate attractive potential reward.

I do not have trading idea for SIMSCI yet. Instead, TIMSCI (MSCI Taiwan) futures caught my attention. It is a volatile index, and traded in pretty good volume. Intraday chart looks good with trading opportunities.

Another quiet day for me, watching the market. This month’s profit target seems to be too far for me to reach. I am studying and adjusting the figure for next month.