Simsci : Hedge for Risk On

• Following last week's post on Straits Times Index possibly turning bearish, the market has pulled back quite strongly today (on rumour China CPI release tomorrow to be better than current expectations) to set up a good short trade location.
• Just sold Feb11 Simsci at 367. Consider it as a hedge for large naked Risk On positions in the rest of the core book.
• Technical setup is same as ST index. 367-370 should be good overhead resistance now on weekly chart. Initial target around 350.