Another profitable day (tiny tiny one though)

Not sure of today's direction in hsi.

Dow closed slightly -ve. Nikkei opened weakly but in the green. So I stayed on the sidelines in the morning before I went in for small amounts of call when stochastics are at the bottom. Market really is not strong. I can see that based on the stochastics alone. Usually when the stochastics u-turn from the minimum the stocks will go up quite fast, or at least substantially. However, today the hsi didn't rebound strongly, at most up one or two ticks only. Sometimes it even diverged from the stochastics i.e. stochastics rebound but hsi went down slightly.

Most likely the market is still reeling from the thai joke saga. I read in today's news that 1997 asian financial crisis is caused by thailand also. Wow, is historical events happening again? Mostly likely not, I think.

Made a tiny sum of 45 today on entering and exiting call warrant twice. Wanted to short the call warrant but don't dare to. Maybe one day will try. Past shows that I'm very bad at shorting. 100% lose money. Hmm...I'll work on it because I think a savvy trader needs to trade both sides of the market. If the market can rise or fall, why should I just bet on the rise?

At least now, with the help of warrants, I can short the index. It's a less risky way than naked short because of the need to cover on the same day with naked short. For put warrant, I can at least hold till it expires, if neccessary.

Anyway, I'm still holding onto quite a huge no. of call warrants for hsi. Expiring in march, betting that it will reach 19400, which isn't too far away. I'm holding on mainly because I can't sell them before the market closed!! Hiaz, but anyway, I think I should bet on the capricorn effect to happen next week. So, we'll watch and see how tmr.

I'll update later again tonight when the market closed. I can then do some analysis too.