Short DAX at 7740

Quote from ASusilovic:

Next "resistance" for DAX 8270. Today we may see 8227-8232. But I am generally more short biased over here. Expecting at least 200 point correction over here.
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I see, is that based on cash index's all time high proximity to current levels?
 
Sorry have been a litle bit imprecise about DAX high ( 8223 expected - 8217 actually ), but short bias correct. I expect to see tomorrow at least 8008 - 8032 area...
 
If you are short in DAX, stay short and work with trailing buy stops over here. Kind of first resistance is running at today´s high at 7994...Second resistance at 8024-8032 area...I still remain bearish as long as long as Central Banks remain hawkish. Over the weekend BIS stated that Central Banks may keep raising rates

See article here :
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aKS3Dz0jEj0Q

Also negative : "revaluation" in CDO market still going on. Regardless of Bear Stearns rescue effort ! Better to pull the trigger now and still get good prices then later - when everything is beaten down...
 
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