Short DAX at 7740

Quote from ASusilovic:

Gentlemen,

it´s a very easy game these morons are playing. Sell USD across the board. ES goes up. All other indices ( because European fund managers have no brain of one´s own ) are following. Commodities are following. Especially commodity stocks are following.

Correlation factor almost 82 %.

The destruction of purchasing power doesn´t matter and unemployment figures do not matter and the sharp fall in consumer end demand doesn´t matter.

Only thing that matters is outright STUPIDITY and IGNORANCE of some quant desks.
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I agree with you, it's very difficult to trade "macro" views when correlation is so high and there is only one theme prevailing, i.e. new QE, dollar debasement, everything goes up.

This is a very destructive game as somebody will be left holding the ball, and I guess it's the current buyers, especially in commodities/PMs. CTAs could be in for a very nasty surprise when the correction kicks in. I'm waiting for this moment.

I stay on the sidelines now waiting for the ultimate moment of madness to kick in
 
Quote from ASusilovic:
1/2 of 6300 calls exit, reinvest Nov 6300 calls. Some proceeds of FDAX profits reinvest 6350 Nov calls and 5850 puts. Cheap puts. Majm, mjam.
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I've closed short FDAX at 6276 and 6283, also closed 6150 calls that I bought when you did 6300 calls. :-),
Well, I could have waited a bit longed to double the profit but I'm just learning how to deal with convexity.

Overall positive day but still 9% off my 2y max from last Thu.
It will take few weeks until I get above that.
 
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