Day 11

Today is last trading day for TW April contract. Thus expected volativity. Usually index either move substantially in either direction during the last hour or so. Bought 1 TW contract at 3459 after it fell from about 3500 in about half an hour. (12.20 pm ). Proved to be too early. After buying, TW index continue to drop, all the way to low of about 3420. Cash TW ( thus futures ) closed at 3422.  During last 20 minutes of trading ( after cash close ), May TW futures shot up to close at about 3442.

In future, better to buy not earlier than 12.40 pm.  many variations employed by the big boys. Sometimes skyrocket, sometimes index got slammed down and at times a sudden sharp up move immediately after a similarly dramatic selldown.

Now holding on to long position of 3459 overnight, unless index rose high enough during T+1 session.

~ by sgxtrader on April 29, 2008.