hobby
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rustic1 said:
tell you the truth, I'm short but feeling a little uneasy...(an unbelievably stupid punt, that went wrong, then against my normal policy, I doubled up...that went wrong too).
US Indices are key here as they hone in near their all time highs. There's a nagging doubt here that they'll punch through (as has the DAX) & if that happens, I'm royally screwed.
If the US indices falter, then I'm fairly sure it'll be a swift return to the 7,000 area.
Hope so!
What's alarmed me most about the DAX of late, is how it's completely disengaged from the US indices & just punched right on ahead! Even now as I type, the Dow looks like it might possibly reverse a daily gain & actually turn negative....the DAX is having none of it & even after god knows how many days of rises.....is up 63 points!
Incredible really......even the uber bear that I am, I'm beginning to think the DAX is unassailable!
So, for the short term, the Dow is my only hope - it needs to fall some, which should pull the S&P down & ultimately the DAX!
I understand exactly & did the same type of thing. I want to hold as i think we will reverse sooner rather than later. I can not beleive how many days it has closed up then gapped up the next day. It is nigh on parabolic which as we know ends like it went up.
After a pullback though I think it is a buy, do not know who is buying it here must be short covering
After a pullback though I think it is a buy, do not know who is buying it here must be short covering
I understand exactly & did the same type of thing. I want to hold as i think we will reverse sooner rather than later. I can not beleive how many days it has closed up then gapped up the next day. It is nigh on parabolic which as we know ends like it went up.
After a pullback though I think it is a buy, do not know who is buying it here must be short coveringI understand exactly & did the same type of thing. I want to hold as i think we will reverse sooner rather than later. I can not beleive how many days it has closed up then gapped up the next day. It is nigh on parabolic which as we know ends like it went up.
After a pullback though I think it is a buy, do not know who is buying it here must be short covering
After a pullback though I think it is a buy, do not know who is buying it here must be short coveringI understand exactly & did the same type of thing. I want to hold as i think we will reverse sooner rather than later. I can not beleive how many days it has closed up then gapped up the next day. It is nigh on parabolic which as we know ends like it went up.
After a pullback though I think it is a buy, do not know who is buying it here must be short covering
firewalker99
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rustic1 said:
Hi rustic, no I don't but I think it's unwise to short as long as the upmove is in place... there hasn't been any sign of distribution neither... the only thing that is interesting to watch is the divergence between DAX and DOW lately. All eyes are on the Fed tomorrow night I think.
firewalker99
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hobby said:
Today is a trending day hobby, from the moment we broke 7200 shorting (unless for a scalp) was the wrong thing to do imo.
Edit: if you want to scalp some points there's a high probability that DAX will rise at least another 5 points before the close (7226 now).
firewalker99
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firewalker99 said:
Well it went to 7231.50 (June futures price)... there you have those 5 points
Look like we get a SURGE in dax on break of 7200 ......... a fellow trader recently confirmed the probability of 100+ points into early next week.
Cash dax now 7190 with day low around 7150....... given only one day counter trend looks like a goer.
Cash dax now 7190 with day low around 7150....... given only one day counter trend looks like a goer.
catracho
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Good call - was looking at 7250 as a high risk short - BUT strength of move changed ny mind..7340 (can't remember why) next target..unless we get a confirmed change of trend before that..(seems unlikely - ) DAX move starting to look parabolic...Hook Shot said:
back to watching and waiting....
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firewalker99
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catracho said:
we are flying... 7385 already on the chart
as to your chart, I agree we are moving up very quickly and without much of a pause or retracement... could go on for some time though...
firewalker99
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Hook Shot said:
here we have those 100 points
nice call
where to next? all time high? :-0
Hi all
Well Dax looking very overcooked here & due for a pullback but there again I have been thinking that for a while. It has been 900 points of low more than Dow It also has not had the pullbacks the US has,Dax just looking parabolic. All my charts OB so fingers crossed I think it will just waste time consolidating to get from OB situation without actually doing much damage. 7000 seems miles away
I am looking for a pullback but I bet we do not get a lot.
7500 poss target if not the highs before it really turns
Well Dax looking very overcooked here & due for a pullback but there again I have been thinking that for a while. It has been 900 points of low more than Dow It also has not had the pullbacks the US has,Dax just looking parabolic. All my charts OB so fingers crossed I think it will just waste time consolidating to get from OB situation without actually doing much damage. 7000 seems miles away
I am looking for a pullback but I bet we do not get a lot.
7500 poss target if not the highs before it really turns
firewalker99
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7520 offering resistance now... probably dull am till NFP this afternoon
