The FLKI opened lower and continued to trade downward throughout the day and closed day low of 1241, a discount of 9 points from the KLCI of 1250. I have not seen such drastic discount for a long time. This showed many traders were afraid to hold long positions overnight as last two days, the FLKI experienced big gap down on opening.
Bearish news keeping pouring in and it seems that there is no chance for the FLKI to even takes a breather. Such is the bearish sentiments not only for FLKI but across the globe. Nikkei and Hang Seng were badly down during the day. The on going concern of European debt crisis lingered on and emergence of rising tension between North and South Korean made the world market worsen.
Overall today, I made some good trades. My yesterday opened short position of 1273 was closed at 1256.50 this morning. In the 2nd session, I short again at 1247.5 and closed it at 1242.50 and towards the ending I short again at 1244.5 and closed at 1242.5. Well it was a good day for me today. This why I like about trading futures contract. You can long or short your orders unlike the stock market where short selling is illegal here.
Tonight I expect the DJIA to trend downward. If this is so, tomorrow FLKI will be expected to trend downward again.
