So we have Dow ended with triple-digit gain and Nasdaq snapped losing streak last nite. Nikkei futures opened and trading around +300 points gain. SIMSCI opened with +3 point. It is a positive morning. It is still too early to decide trading direction now. I am watching the market closely now.
Rant
SIMSCI 14-June-2006: Market closed
[photopress:simsci_full_day_12.PNG,full,pp_image]
In fact, it will be profitable for short trades in the afternoon session, however, none of my pattern setup was formed successfully, I did not initiate second trade for today. In fact, I was a bit tired after morning’s first trade.
In today’s trade, it showed the importance of intermarket analysis, even for day trading. SIMSCI follows Nikkei most of time (I have no idea about the reason).
Not so bad, I closed the day in positive note again.
RE: SIMSCI 14-June-2006: Potential Long: Long Trade Closed
SIMSCI futures 12-min
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This is 12-min SIMSCI chart. My LONG order was triggered a little bit higher at 274.3. My initial plan was 274.1, anyway, it was still below my maximum chase level. It was a nice morning, trailing stop had been moving upward, and in fact, by 1230pm my position was already in the money. I did a last check on Nikkei and decided to close the position at 275.8.
Nikkei Futures 12-min
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This is 12-min Nikkei Futures. A potential failure swing formation was observed around 1230pm Singapore time. And at top, volume was not impressive enough. I decided to close my SIMSCI profit position. There might be bigger profit in the afternoon session, however, the current situation prompted me to protect profit.
I will be looking for another opportunity in the afternoon. One trade closed. Gain +1.5 point
RE: SIMSCI 14-June-2006: Potential Long
I was looking at 274.1 to Long SIMSCI (before my trading platform is down for maintainance for half an hour). Nikkei starts second session with slightly positive tone. I see the intraday market is to be flat with positive biased. As at current condition, I am looking at LONG side.
SIMSCI 14-June-2006
Again , yes again , DJ closed in negative territory. Nikkei and SIMSCI followed as expected. However, it is very interesting to see Nikkei and SIMSCI indeed moving up from low opening. Intraday chart shows me a uptrend is building up for SIIMSCI, though it is too early to conclude now. It gives a feeling that these two asian markets are trying to shrug off the dirt caused by American counterpart.
I am watching closely for possible trade setup.
RE: SIMSCI 13-June-2006: Poor performance
The reversal sign of Nikkei futures before lunch break was a false signal. Nikkei futures has been losing -500 points before SIMSCI reopen for afternoon session. I have place a Short order before lunch break at 272.4. SIMSCI is likely to open with gap in the afternoon session.
After market reopen, my short order was not triggered as the gap is bigger then my setup price. I have been missing profitable trades recently. And my performance has been deteriorating as well. Wrong judgement calls were made. I am fortunate enough, my wrong judgement call did not cause any loss. However, it is equally bad when missing profitable trades. I have decided to step away from market now to prevent myself from chasing a trade. Fight another day.
