Lets proceed with today's daily summary.
FKLI 30 Mins Chart
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FKLI Daily Chart
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Cash Daily
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We traded to these levels today:
FKLI
Opened: 1561
High: 1564.50
Low: 1547.50
Closed: 1549.50
Cash Index
Opened: 1570.75
High: 1571.24
Low: 1559.01
Closed: 1561.07
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Alright today was basically a short sellers market.
In the morning, we opened at 61 and price was pretty much undecided. We went up to make a high of 64.50 after cash opened. I did not make any trades in the morning as I was really occupied! Damn..
But one of my trader, Teo, decided to short at 83 and I got a better fill at 83.50. Price just 'kaputed' to 49.50! What a trade.. All these while I was getting phone calls and some other stuff and I couldn't even get into the market! damn..
After price made a low of 49.50, we started to bounce back up to 58 before lunch. Lunch opened at 59 and made a high of 59.50. Price came down to the 55.50 area and stayed in the 55.50 56.50 range for a long time. At one point we even went up as high as 57.50 in the afternoon. Then we chopped back down and once we broke 84.50 on the low side, and cash market closed down lower, price just gave way and we made a low of 47.50.]
Teo eventually closed his short at 56 for a decent gain. We were thinking to reduce the risk by closing one contract and swinging the other, but ended up closing both. It would have been a freaking good short.
Now we have some net position long and holding over night. We will see how it goes tomorrow and hopefully we will see a pause in the decline and a test back to the 20ema soon.
I will update again tomorrow. Good night and see you all in the next post!
Best Wishes,
Tech Trader
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