hornblower
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I do ,
lose money on it, that is
there are times when you can trade it
and sometimes you cannot
shorted it this morning for a few
I was waiting for it to drop passed the 45 degree Gann angle
and it did
but it has not dropped passed the 26 degree angle so i am just waiting
lose money on it, that is
there are times when you can trade it
and sometimes you cannot
shorted it this morning for a few
I was waiting for it to drop passed the 45 degree Gann angle
and it did
but it has not dropped passed the 26 degree angle so i am just waiting
Glad to see a Dax thread back again - as you guys know it's very strong so I'm letting it burn itself out 6500, 6550, (6600 perhaps.........since that's 3x bear lows - which might be significant).
Monday's massive reversal off 2nd down day said short me at your peril - for swing trades anyway!
Monday's massive reversal off 2nd down day said short me at your peril - for swing trades anyway!
catracho
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Dax good proxy for Nasdaq...if you look at 2000 FTSE topped first in Jan (FTSE can't get through 6250 level for mo), then failed to beat Jan high whilst most mkts made new highs...similar to situation now..so MAYBE just MAYBE..FTSE may be early warning signal..tho NDX and DAX did not top till March 2000 ( so 3 months late rthan FTSE)..ignoring DOW (see http://www.traderdaily.com/column4/3469.html post from DOW 2006)..looks to me most mkts going parabolic..so maybe a few hundred points upside, but when it fails..BIG FALL ahead..
see SILVER chart for comparison..
see SILVER chart for comparison..
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Yes Dax is strong but burning out. This parabolic chanel can not go on for much longer.I am expecting a short sharp reversal for a couple of weeks before the Santa rally. I have heard about 6800 for a top in February.
Like the US especially the Dow when it falls it will be hard!
Like the US especially the Dow when it falls it will be hard!
daxdaytrader
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Hook Shot said:
We got the inside day Thurs and now wide range down..... on the break of Thurs lows. However, we are early in the day and that means it could be fake move and we get dead cat rally into US opening recouping much of the losses - similar to monday.
I don't quite believe this move down although I'm now short!
hornblower
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Hook Shot said:We got the inside day Thurs and now wide range down..... on the break of Thurs lows. However, we are early in the day and that means it could be fake move and we get dead cat rally into US opening recouping much of the losses - similar to monday.
I don't quite believe this move down although I'm now short!
hi hookshot
stopped out for -7
hornblower said:
I take it you were short ........... with monday's lows around 365/66 I covered expecting some kind of dead cat - looking to re- short if this morbid feline goes south through 360..... although that would make a horrible day and be quite significant in the context of recent moves.
Lets see how high this rubber cat can reach... still think the slider is fake!
hobby
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I shorted the other day at 6398....large crinkly lips as I saw it head up over 90 points within a day! I'm relieved about this fall today .....it's shaping up to be a very interesting day! (ie dollar weakness, US futs down significantly, thin trading, 1/2 day US mkts closure)...oh & there are some gales heading our way - http://news.sky.com/skynews/article/0,,30000-13553652,00.html - isn't that how 87 developed?! :cheesy:
Yep the bad weather Mmmmh........... the connection you make with '87 is interesting ......... and may be spot on .. But I'm sticking with the fake slider theory until or unless we get more evidence. It was only Wed we hit 6500 so bit early to get bearish perhaps....... despite the current action.... Lets see
Well we closed the week officially virtually where we started having made yet another new high. I make that 13 wks in a row but not 100% sure.
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Friday produced the dead cat move I was anticipating taking us to the 425/30 areas and now if this slider is real we need to take out last weeks lows of 6360ish.......... but I'm seeing layers of sppt down to 6300 and also some at 6200/180.
With a close at 6412 a test of the lows is a move of 45pts but already the price has slid to 6375 after hours - taking us within 8pts of Friday's low. So the re-short opportunity has evaporated for now and again I look for a rally off last weeks lows ......... pre-trade or intraday and after that I will hopefully get a better idea of what's going on.
The move on Friday looks horrible and it looks unlikely we will see 6470 Friday's high - in fact it may not get much beyond 6425/30 but with cash now 6377(fri 7.45pm) that level is a nice little bounce.
ALL IN ALL
All in all after Friday's action the market is finely balanced- with something for everyone. - It certainly looks like someone's rattled the bears cage but given the current levels there's potential for another little rally before considering a potential bearish posture near term.
Strategically, the Dax is still firm ..... but perhaps is starting to show it's age a little. I still believe the move down is nothing serious but if I'm wrong the daily bars will tell me and sppt levels will go. Keep in mind we have not broken the weekly low on dax for 8 consecutive weeks (by my reckoning) and it can't go down without doing so - although that's hardly profound.
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Friday produced the dead cat move I was anticipating taking us to the 425/30 areas and now if this slider is real we need to take out last weeks lows of 6360ish.......... but I'm seeing layers of sppt down to 6300 and also some at 6200/180.
With a close at 6412 a test of the lows is a move of 45pts but already the price has slid to 6375 after hours - taking us within 8pts of Friday's low. So the re-short opportunity has evaporated for now and again I look for a rally off last weeks lows ......... pre-trade or intraday and after that I will hopefully get a better idea of what's going on.
The move on Friday looks horrible and it looks unlikely we will see 6470 Friday's high - in fact it may not get much beyond 6425/30 but with cash now 6377(fri 7.45pm) that level is a nice little bounce.
ALL IN ALL
All in all after Friday's action the market is finely balanced- with something for everyone. - It certainly looks like someone's rattled the bears cage but given the current levels there's potential for another little rally before considering a potential bearish posture near term.
Strategically, the Dax is still firm ..... but perhaps is starting to show it's age a little. I still believe the move down is nothing serious but if I'm wrong the daily bars will tell me and sppt levels will go. Keep in mind we have not broken the weekly low on dax for 8 consecutive weeks (by my reckoning) and it can't go down without doing so - although that's hardly profound.
I'm absolutely livid!
but with cash now 6377(fri 7.45pm) that level is a nice little bounce.
You could still pick up 6380(down 32 from market close) on cash Dax right up to 9pm - Friday but in the settlement period the futures spiked almost 40pts right on settlement as some xwine jumped on the price! Now one of the juiciest trades you'll probably see in a long while is gone.........gone ............gone.
What's my problem ? - I spotted the flippin' opportunity but didn't go large because of potential weakness in Asia sunday night ........ and with futures apparently closing down I could wait...for sunday............ fortune favours the brave they say........
England out for 157........Dax trade squashed....... all we need now is for Chelsea to beat ManU and ....oh forget it!
Hook
but with cash now 6377(fri 7.45pm) that level is a nice little bounce.
You could still pick up 6380(down 32 from market close) on cash Dax right up to 9pm - Friday but in the settlement period the futures spiked almost 40pts right on settlement as some xwine jumped on the price! Now one of the juiciest trades you'll probably see in a long while is gone.........gone ............gone.
What's my problem ? - I spotted the flippin' opportunity but didn't go large because of potential weakness in Asia sunday night ........ and with futures apparently closing down I could wait...for sunday............ fortune favours the brave they say........
England out for 157........Dax trade squashed....... all we need now is for Chelsea to beat ManU and ....oh forget it!
Hook
hobby
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Hook Shot said:
Now you got me running scared! I've had a great night's sleep & a nice comfortable non-market-centric Saturday & then you hit me with this?!
What time did this happen? IG's last quote was at 21.05pm GMT & shows 6372.8/6382.8 (still does)...I'm figuring the spike you mention was after IG closed & ceased quoting? Also, if that happened to the DAX...then what else went on with the Dow after IG stopped quoting?!!
Off now for a bad night's sleep.....
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Sorry Hobby, yep probably after ig closed up shop.......
Sorry matey but accidentally zapped onto bloomberg and saw dx futures at 6427 as you can tell I was not amused ..........
For those a bit less active the dax should go back to friday's closing price near 6411 cash........ and they'll wonder what the rant was all about.
Just in case I got my boxers in a twist (not unknown) lets see how the spreadies open..........
Hook
Sorry matey but accidentally zapped onto bloomberg and saw dx futures at 6427 as you can tell I was not amused ..........
For those a bit less active the dax should go back to friday's closing price near 6411 cash........ and they'll wonder what the rant was all about.
Just in case I got my boxers in a twist (not unknown) lets see how the spreadies open..........
Hook
