Sunday, April 3, 2011

TIme for some correction?

Two weeks ago, I felt the Simsci was a good level to buy at above 3460. Any more room for it to go further? Are the foreign funds back pushing the Index to close at a 2 weeks high? With the looming election approaching, can we short the market?

I will still buy on retracement.

My friend called on Wednesday to short the Nikkei above 9800, he felt that there should be some window dressing in Japan and the market whould correct down again in the next few days. Let's see.

My short term trading strategy will be to buy 2 Simsci and sell 1 Nikkei.

Some reistance for the S&P at 1334 level.

It has been a good week for traders because of the increase volatility, for those who missed it, just too bad, wait for the next opportunity.


coconut said...

back to comfort zone. no feeling as to where the market is going. hope we don't get market shock any time soon.

gold, haha short, collapes, short collapes, short again, trying to long USD/YEN miss and miss and miss again! damn.

Fat88Trader said...

With no market shock, where to get the volatiltiy?

It's boring and difficult to trade without market volatility.

Yes, I have expected the Yen to collapse but instead the speculators pushed it up first to trigger all the short stop. Then of course we tried to short higher but it never come again. So all the misses.

coconut said...

true true, i mean not the kind of volatility we experience during japan earth quake. thats too much. its difficult to trade when you have a position, and your emotion went along with the ride.

coconut said...

is that durain season again, bought 2 USD/YEN at 84.76 and 84.94 after the news of earth quake again. but i do not know what to do with it. i hope it will fall so i can pick up some more.

cover my gold at a small profit. will try and short again at higher level.

stocks, nothing to say, it becomes boring and robatic. hope to get more exitement trading futures and fx.