Short DAX at 7740

Quote from Topsurfi:

there are important things happening in the Dax during the last 10 days. There are really big pockets still collecting every Fdax they can get. So believe me, there is still a huge imbalalance between the week hands (that sold) and the strong hands (that collected them).

You can assume that once the bad news are relaxing a little bit (oil, Euro, etc) this thing will explode to and above the old highs since all the weak hands will start covering.

I have only the idea that it might be china diversing their money from Dollar into Euro-Stocks. It does not matter who it is anyway.
Only a real crash in USA could halt this scenario.
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I have the same idea here, looking for a entry here, will be 3rd attempt. Good thing I bought puts last 2 times, will do same this time round.

There is a classic pattern on 4 hour chart, trouble is we can either rally right now or get a headfake move to test support, sucking in weak longs and then taking off wildly. So hedge is important.

Good luck to all, buying or selling.

AS, I am answering here instead of ES journal, yes, but headfakes are a regular occurance, but it does look like it's quite ready to head towards average divergence price zone, also FDAX seems to be frontrunning with it's 4 hour chart.
 
Quote from JSSPMK:

I have the same idea here, looking for a entry here, will be 3rd attempt. Good thing I bought puts last 2 times, will do same this time round.

There is a classic pattern on 4 hour chart, trouble is we can either rally right now or get a headfake move to test support, sucking in weak longs and then taking off wildly. So hedge is important.

Good luck to all, buying or selling.

AS, I am answering here instead of ES journal, yes, but headfakes are a regular occurance, but it does look like it's quite ready to head towards average divergence price zone, also FDAX seems to be frontrunning with it's 4 hour chart.
More...

Dynamic hedge in place...and I am really thinking about becoming Goldman Sachs Premium Brokerage Customer...these guys need a little bit more income...maybe calling Don Bright and profiting from 6 times leverage...:D :D :D
 
I can´t remember last time we experienced the kind of late session sell-off like on Friday. I am getting really, really bored by subprime news flow. Yawn ! Ebay has been the latest "casualty". for some value investors Financials are beginning to be interesting, although we may see lower prices. But who is going to ask in 2 years time about this confidence crisis ? It will be remembered as one of the market corrections - and that´s it.

Looking back at the Russian crisis, LTCM, Argentina, Asian crisis...where do we stand now ?

We are living in a global economy. IB´s are looking to generate more income out of U.S.

In the summer I read already about the departure of some Wall Street Vice Presidents to their new location in London. Guess why ? Europe and Asia are the new playing fields !

So, I play it with the FED: and FED´s message is, we will avoid recession !

I stay long, hedge in place. Market´s year end rally just a matter of when to start !
 
Banks Said to Agree on Credit Backup Fund

The country’s three biggest banks have reached agreement on the structure of a backup fund of at least $75 billion to help stabilize credit markets, a person involved in the discussions said yesterday, ending nearly two months of complicated negotiations against a worsening economic backdrop.

Officials from Bank of America, Citigroup and JPMorgan Chase reached agreement late Friday, settling on a more simplified structure than had been proposed, said this person, granted anonymity because he was not authorized to talk for the group.

Bank participants, money market investors and even some managers of the troubled investment vehicles that would benefit most had considered previous versions of the fund to be infeasible, casting doubt over a final plan. Discussions had been taking place since early fall, when the Treasury Department convened a meeting.

Now, the proposed fund could begin operating by the end of December, this person said. The banks could begin asking roughly 60 financial institutions to contribute to the fund by Friday or early next week.

It´s high time...
 
HSBC to reveal new $1bn sub-prime hit

HSBC will this week reveal a further $1bn (£475m) of bad debts stemming from its American mortgage business, amid mounting fears that the full impact of the global credit crunch has yet to wash up on British shores.

never-ending story...:(
 
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