Trade Initiation for the Day

FKLI opens at 1036.5.  Positions qued to long at 1034 will be triggered, while those qued to go short at 1041 will be triggered, whichever touches first.

Update at 8.55 am - FKLI touches 1041 and our positions qued there have turned short.  Place stop loss point 5 points away at 1046 while take profit 5-7 points away at 1036 to 1034.

Update at 9.39 am – FKLI touched 1036 which is our profit taking point.  5 points profit for today!!! So early..

Trading Tips for the Day

There was a slight relief of government bonds having good demand and that pushed DJIA 103.78 points higher to close at 8403.80 points.

Expect the FKLI to open higher.  For the June 2009 contract, the resistance level is at 1041 so one can attempt to short at that point, support level is at 1034 and one can attempt to long there, if the market price opens between these two figures.  If price breaks above 1044 a breakaway trade can be initiated by going long, and if price breaks below 1031 one can attempt to go short.  Target profit is about 5-7 points, while cut loss point is 5 points.  Please que your positions before market opens, and above levels are applicable for one trade per day only.  Updates on trade initiation will follow, stay tuned.  – 8.44 am

Performance so far for May 2009 = 40 points/contract
Win = 12 times, Lose = 4 times

How do I interpret this?

Disclaimer

Trade Initiation for the Day

FKLI June 2006 contract opens at 1043.  Positions qued at 1044 will turn short if price reaches there.

FKLI price did not reach our target price so no trades were made today.

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Trade Initiation for the Day

FKLI opens at 1053.  Positions qued at 1048 will turn long if price reaches there.

Update at 10.31 am – FKLI price touches 1048, and the positions qued there has turned long.  Place stop loss 5 points away at 1043 and take profit 5-7 points at 1053 to 1055.

Update at 2.36 pm -  Done!!! FKLI touched 1053, which is our profit taking point.  Another 5 point profit for today!! Superb!

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Trade Initiation for the Day

FKLI opens at 1046.5 and subsequently touched 1047, which means our positions qued there has turned long.  Place cut loss 5 points away at 1042 and take profit 5-7 points at 1052 to 1054.

Update at 9.25 am – Done!! FKLI touches our profit taking point 1052.  So 5 points profit for today!!! A very early day indeed.

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Trade Initiation for the Day

FKLI opens at 1047.  Positions qued to long at 1042 will be triggered, while those qued to go short at 1054 will be triggered, whichever touches first.

Update at 8.48 am - FKLI touched 1054, and positions qued there to short has been triggered.  Place cut loss 5 points away at 1059 and take profit 5-7 points away at 1049 to 1047.

Update at 9.15 am – DONE!! FKLI reached our profit taking price of 1049.  5 points profit for today!

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