Friday

Taking Quick Nikkei Profit

Post a Comment December 11, 2009 – 6:18 am |   | Permalink |  Print This Post |

We opened a long Nikkei yesterday at 9799 (after closing $5/point at 10220). We were hoping for the Nikkei to go lower to fully reestablish our $5/point long but the low did not hit our 9650 target.

Also reestablished our long Nikkei at 9799 $2/point.

We will close it now at 10097 to take 290 points x 2 = $580 profits (net spread).

( Nikkei is up 2.4% for the day despite all the “bad” economic news). We still have quite a few Nikkei longs which we will hold back from closing (they are mostly hedged by NIFTY shorts).