Quote from trader151:
I sold into the spike becuase it looked like people who shorted the DAX on the release got stuck as the ES didn't break and went higher initially. The shorts were going to panic as the Dax took out the high. The ES didn't go higher with the Dax on the DAX spike. So the "50"level (7550) was a round # that I though anyone who also though the spike was b.s. would be clustering limit sells around as well.
I would've got out if the ES started to go higher or if the DAX "held a trade above 7555, or if we just started to sit around the 7550 level and not come off. [/B]
