Short DAX at 7740

[archimg77]

now, I'm going to sit here and make sure all my calls that I shorted expire worthless

 

[younouss]

well hope you bought today...

 

[eric341]

Been buying all the way down the correction over the past two weeks and getting burned.

Bought near the open friday but the rally fizzed out later in the day to destroy my position for a loss.

On monday if a strong up opening occurs I expect a dip then some buying to step in.

Otherwise I will probably stay out until a clear bottom appears....

 

[archimg77]

Quote from younouss:

well hope you bought today...

well, I sold calls as vix was rising.
It looks like they may expire worthless after US downgrade.

I have a feeling that some people knew about the downgrade before announcement.

 

[archimg77]

50% fib 5600
reversal is coming

Account is a bit depleted due to stupidity but what to do, paid for lesson.

 

[ASusilovic]

What shall I say? Up in the morning over 200 points, just to be slaughtered like a goose thereafter.

 

[archimg77]

Quote from ASusilovic:
What shall I say? Up in the morning over 200 points, just to be slaughtered like a goose thereafter.

I closed all options when we went below 6600, small negative delta.
At the moment I accumulated dax over past few days so it is annoying to see that dax is -1.6% down and other indices are already in positive teritory.

 

[archimg77]

Quote from archimg77:

I closed all options when we went below 6600, small negative delta.
At the moment I accumulated dax over past few days so it is annoying to see that dax is -1.6% down and other indices are already in positive teritory.

I meant 5600 ... 6600 would be too early

 

[archimg77]

I've got a feeling that dax is very vulnerable on the downside compared to other indices.
Any idea why?

 

[eric341]

As opposed to say, FESX or are you talking about US indices?

I bought some FESX at 2108 yesterday and closed it for 2208, +100.

Made back my losses over the past 3 weeks and then some.

Now I will look to see if the market bottoms out before committing on the long side again. Otherwise I will just switch to shorting the market.

Although looking at the first 5 mins of today's open I feel a good spot upcoming to enter a long position later in the day.

Either that or the markets just gonna capitulate, lol!