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.

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.

Paper Trade Series: Mini Dow 21-June-2006

It is a excited opening for U.S market. From 1 min chart of Mini Dow,there was a good setup for Long position. Mini Dow futures was trading above 10, 15, and 30 period moving averages and closed above CBL entry level. RSI supported the entry decision by making higher lows. Entry was at 11075 with exit at trailing stop 11114.

RE: SIMSCI 21-June-2006: Long Trade closed

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.

Paper Trade Series: Mini Dow

15-min Mini Dow

Finally , i got my new charting service up and running. I have been watching Mini Dow for opportunity. I have decided to perform paper trading for few days in order to get use of this new chart service. First entry is when Mini Dow broke recent downtrend and RSI making is positive divergence. Entry was triggered at 11022 and exit was set at 11041 which is previous high. Target hit. Gain +19 ticks. Second entry was set at 11054 when higher low in RSI is formed and Mini Dow broke count back entry . Signs of strength. Exit was set at 11090, previous high, resistance area. Target hit. Gain +36 ticks. Bigger profit was missed, however, the objective is to capture the strong move and exit at the known resistance level to protect profit.

Charting Headache Continues: No trade today

It is going to take sometime for my new chart service to be activated. Maybe it is time for me to take break after some winning trades for the past 2 weeks. I can't risk by doing day trading with delayed chart. I 'll be back when the chart is available to me again. Be a better trader today.

Charting headache: No trade today

I do not believe it. My broker just replaced their charting service which delays 2 bars. This has a big implication to my day trading strategy. I can't make a timely decision based on the delay chart. I have decided not to trade today in order to sort out the charting problem. This is a bad headache to me.

Anyway, SIMSCI is likely to be moving sideway if not profit taking after strong gain from last Friday. This can be observed first from Nikkei this morning.

Chart Eye: SIMSCI Futures : ended 16-June-2006

This is daily chart of SIMSCI futures. It broke out from existing downtrend channel last Friday after a strong day. It is currently facing resistance soon. Directional index has started ticking up after reaching oversold level. And trend index shows a same picture as well. Sentiment is improving though it is still remain negative. It is likely to see rebound rally, though downtrend is still intact.

Opportunist series: Stocks for 19-June-2006 onwards

This opportunist series is to capture stocks which experience extreme bearish sentiment and starts rally. Tight stop loss is implemented as broad market sentiment and trend remains bearish. I have found some counters for agressive trading style to capitalise in the rebound rally in the existing downtrend. Almost all of the stocks I have found are in down trend and negative sentiment. However, some of them are rebounding after reached extreme bearish sentiment. There are quite a few counters captured , however, most of them are trading near major resistance and Reward/Risk ratio less than 1. I have excluded them from consideration. I am watching at Star Pham, Midas and Statchipac.

Chart Eye: Sesdaq daily trend : ended 16-June-2006

So we have seen a strong rally last Friday. It was expected to hear some voices in forums discussing 'Bull is back to action'. Well, I have decided again to do some analysis on the trend. And this time, I want do something interesting. Firstly, I am looking at daily trend of UOB Sesdaq index. Last week's rally put a pause to the heavy selling. Short term moving averages are ticking up. However, it is still far below long term moving averages. And there is, in fact, nothing much in term of trend change. Downtrend is still intact. From Directional analysis, negative sentiment is still hanging in the air, though it was ticking down at the end of last week, I do not see positive sentiment gaining strength. (Click on the chart to maximize it) If it is a little bit tough for trader to accept establishment of downtrend (Since, most of traders only recognize Bullish pattern), I have inverted the daily trend of UOB Sesdaq. The inverted trend indeed showing me a 'BUY' opportunity (in reality, a SELL, remember, this is a inverted chart) if I were to do trend trading. In fact, I am not impressed by the rally. Maybe, at least for now. My strategy will be sell on strength instead. The rally in some way, provides a chance to let go current holding of small cap.

SIMSCI 16-June-2006: Market close

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.

RE:SIMSCI 16-June-2006: Potential Long:Trade Closed

12-min SIMSCI Futures

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.

9-min SIMSCI Futures

A failure swing RSI was forming. This is the ugliest scene to me when holding Long position. Similiar situation was found in directional indicator as well. These conditions gave me a strong support to close my profitable Long position. 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.

RE:SIMSCI 16-June-2006: Potential Long

Long position of SIMSCI has been established at 281.9. SIMSCI seems to be gaining strength again. Sentiment remains positive.

SIMSCI 16-June-2006: Potential Long

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.

Swing Trade for 16-June-2006: No candidate

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).

Next trade is more important

I was having a walk after buying food from supermarket with my fiancee. I told her about my recent trades, I was pretty happy with my performance. She smiled and told me ' It is good, but next trade is more important'. This gives me some thoughts. Exactly, next trade is always more important. And the very next trade has totally nothing to do with our recent trades which we turned a profit or loss. However, human natures make us think it may. We will end up with over confident, or timid when making the next trade. Forget about your past trades. Keep the focus on the price action, and next trade is always more important. You have to give the best performance for the next trade, it might not be perfect, but it will be your best shot!

RE:SIMSCI 15-June-2006: No trade

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.