They are back defending the 7470 level again.
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Big buyer supporting the DAX into the close yesterday, came back 100 pts lower today.
- Thread starter frank_london
- Start date
Quote from syrre:
Unless you can prove this, its only your speculation it was.
Very true, but I think everyone watching the order book last week woudl agree... less obvious today but it looks very similar...
So anyone out there have an idea as to who and why? If you want long delta's there must be better/smarter ways to obtain them at a more reasonable price... If you're trying to keep down the vol then its working...
It is the ECB supporting the market. Some German banks are in trouble and a serious slide in equity price would exacerbate the situation.
Quote from FGBS:
If that was the case why not do all index futures? Why only DAX and so obviously?
The German market (DAX) is by far the largest pure ECB market. The only other one of even mentionable size is the CAC. The German market leads Europe and influences US equities i.e. If the DAX were down 400 pts the DOWwould be down 600+