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.
Rant
SIMSCI 22-June-2006: Potential Long
It is a positive morning, with 3-digit gain in DJ last nite, both Nikkei and SIMSCI opened higher. Nikkei is trading near +300 point, while SIMSCI is trading around +4 point gain. I am looking for opportunity to enter Long position.
RE: SIMSCI 21-June-2006: Long Trade closed
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Position was closed at 277.3. SIMSCI futures failed to push up further after reached 278.1, 0.4 points away from my target. So near ,yet so far. That’s trading. RSI off the high and fell below previous low. And spread of SIMSCI seemed to be abnormal. Europe and U.S futures were turning red as well. I was not comfortable with the situation to Long SIMSCI, sentiment does not support the buyers. position was closed.
I might be wrong, I found no reason to hold on Long position. One trade, 0 point gain.
RE: SIMSCI 21-June-2006: Long Trade
Another reversal trade again. Long position was established at 277.3 which is above previous resistance. My initial target is set at 278.5 which was previous high (resistance area) in 15-min chart. As Nikkei and HangSeng are having small gain and tend to be flat, I do not expect a strong bull run in SIMSCI today.
SIMSCI 21-June-2006: Potential Short
So it sets to be a negative morning. Nikkei opened slightly positive and drifting down to negative territory now. No surprise for SIMSCI Futures. It is flat with negative biased. It is still too early to define direction for the day. I am watching it closely for trading opportunity.
SIMSCI 16-June-2006: Market close
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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.
