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Electronic market on CCSE was quite all day long. Price moved in a relatively balanced range, which showed the apparent lack of direction. The market action also suggested that no one wanted to be the leader to boost prices higher despite of the bullish spot market at the moment.

Recently, many buyers dare not to hold large position due to the lack of direction of the market and pressure from selling side. Such market required that the short-term players should have professional technical skills. Selling at high and buying at low could make small profits with little risk.

　　　　　　　　　　Change Open-close prices Net position
Raw Silk for Nov. 2005　-900yuan/ton 233900---233600　482
Raw silk for March 2006　　600yuan/ton 229400---230000 2342

Dried Cocoon for Nov. 2005　 400yuan/ton 75000---75400　 32
Dried Cocoon for March 2006　 -100yuan/ton 72300---72200　4502