Day 28 - DOW +66

DOW up after a milder-than-expected inflation report and falling oil prices. But a late-session technology selloff pare gains. The DOW was up more than 150 points before the late selloff. CME NK (YEN) closed at 14180.

 Update ( 5.30 pm ) :

NK hit high of 14370 and closed at 14265. Currently traded at 14280 in T+1 session. Though regional markets were up, led by NK, HK futures declined 360 points at its lowest but closed up 40 points. Both FTSE and S&P turned positive from initial losses. S&P now up 2.5.

Still holding on to long position of 14180.

 

Day 27

DOW declined 44 points. CME NK (YEN) closed at 14010.

Update ( 2.15 pm ) :

NK morning session closed at 14125. S&P futures down 1.25.

 Update ( 5.20 pm ) :

Sold long position of 14025 at 14175 for profit of 150 points during NK T+1 session. Wanted to hold overnight but S&P and FTSE futures started to turn downwards.

Left with 1 long position of 14180.

Update ( 6.15 pm ) :

SGX NK traded at 14110, S&P futures down 3. Osaka NK closed earlier at 14155.

 

Day 26 - Watching Shanghai/HK

DOW up 130 as MBIA led financial shares higher after it said it has enough cash to cover claims. Wal-Mart jumped on speculation profit grew as discounts lured shoppers away from competitors. 

CME NK (YEN) closed higher at 13835. Shanghai and HK may drag regional markets lower when they open due to the earthquake in Sichuan, China yesterday.

S&P futures now down 0.75 ( 7 am ).

Update ( 12.40 pm ) :

Sold long position of 13865 at 13985 for profit of 120 points ( Queued at 13985 since morning ). NK was rising in line with HK but rise even higher after close of HK morning session at 12.30 pm. 

2 more outstanding long positions :

14180 and 14025

Day 25

DOW down 120 points previous session due to AIG’s losses and surging oil prices. Oil hit record of US$126.25 per barrel before closing at US$125.96.

Update ( 11.15 am ) :

S&P futures up 2 points. NK morning session closed at 13640.

Update ( 11.45 am ) :

Sold long position of 13705 at 13785 for profit of 80 points. S&P futures up 3.5 points. 3 more long positions :

14180, 14025 and 13865.

Day 24

NK cash closed at 13655. Down 287 points though DOW up about 50 points due to AIG reporting losses and their need to raise capital after US market closed. Bought 2 more NK contracts.

Now 4 long positions :

14180, 14025, 13865, 13705

Day 23

DOW down 206 points on concern new disclosure rules for US banks will reveal further credit losses and record oil prices will curtail earnings growth.

Bought 1 more NK at 14025 at start of trading, almost at day high. S&P futures up 1 at 2.35 pm. Will see how HK noon session and FTSE perform.

Update ( 5.40 pm ) :

 

Executed the above trades for profit of 40 points during NK (T+1) session. S&P futures up 4. Need to sell cause already had 2 long positions.

Day 22 - Japan Markets Re-Open

DOW up 51 previous session. CME NK (YEN) closed at 14150. Stocks initially fell as oil prices spiked to a record $122.35 a barrel and Fannie Mae and other financial firms reported big quarterly losses. But the market stabilized by midday, as investors looked beyond rising crude prices and opted to scoop up technology and financial shares.

 Update ( 6.45 am ) : S&P futures down 0.5

Update ( 7.45 am ) : S&P futures up 0.5, SGX NK traded at 14165

Update ( 1.30 pm )

 

Bought at 14180 when trading starts. NK slides after Shanghai/HK dragged regional markets and S&P down. Profit of 30 points and 1 outstanding long at 14180. NK last done at 14105 ( 1.45 pm ). S&P futures down 5.

Day 21 - DOW +189, NASDAQ +67, S&P +23

DOW rose to the highest level since January as a rally in the dollar and better-than-estimated technology earnings prompted investors to shun commodities and shift into shares of banks, retailers and computer companies. Financials also got a boost after Kuwait’s $250 billion sovereign wealth fund said it may increase its stakes in Merill Lynch and Citigroup. CME NK (YEN) closed at 14065. S&P futures +0.25 ( 7.25 am )

Update ( 8.05 am ) :

Sold my last long position of 13875 at 14065 for profit of 190 points, since NK already up by about 300 points at this level while DOW up less than 200 points. Queued at 14055 but got filled at 14065. Will monitor and buy again if necessary.

Snapshot ( 815 am ) :

 

S&P futures pushed up by 2 points within few seconds as NK declined steadily from 14070 to 14005. Could be some Big Boys slowing down the NK slide while they unload some of their long positions.

 

Day 20 - SGX, TAIEX, SSE, HKEX closed

DOW down 11.8 points and S&P declined 5.35 points. Initially market rose on GM’s better than estimated earnings, higher than expected 1st quarter GDP growth and the FOMC’s statement about the quarter point fed funds rate cut to 2%. Stocks began to decline about half an hour after the FOMC announcement as investors sell into the news. The Federal Reserve indicated that the economic outlook is not as bad and that its rate-cutting campaign could soon take a breather. CME NK (YEN) closed at 13885, from a high of over 14030.

 Update ( 2.10 pm ) :

Made the above trades for total profit of 55 points. Still holding 1 long position at 13875.

Day 19

Japan back from holiday. DOW had closed down 39 points previous session. Awaiting tonight’s US FOMC Policy Statement and the advanced GDP forecast. The FOMC is expected to lower its benchmark rate by a quarter point, to 2 percent while the Commerce Department is forecast to report today that economic growth slowed to a 0.5 percent pace in the first quarter after a 0.6 percent expansion the previous three months.

Bought at 13875 after seeing NK dropped from high of 13990. After buying, NK continued to drop to low of 13795.

Update ( 3.50 pm ) :

FTSE up 1 point and S&P futures up 1.5. HK at 25670 after recovering from low of 25581. NK ( T+1 session )now traded at 13830.