Anyone scalping the FTSE Futures??

The evolution of the Chinese economy and its impact on emerging markets as well as the perception of the market against the US monetary policy will be the most important variables. In this context, DAX is a single case. Although this index is also influenced by the external environment, some specific issues have conditioned the German market. The first is related to the uncertainty about the proceedings and costs that RWE and E.On have to dismantle its nuclear facilities after the law passed by the German government, which strongly penalized their actions. On the other hand, yesterday announced that Volkswagen cheated on CO2 emission levels in the US, which should involve payment of damages and possibly lawsuits. Another risk is that other governments as they examine the practices were committed in their countries. Through the automobile sector’s behavior from yesterday, there is a risk of contagion to other manufacturers, which may have acted within the rules.
 
Dick Lexic said:
Euro looks weak Dollar strong maybe the correlation Dax/Euro is over for now
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I think it's been pretty much over for a while now.
It'll probably kick off again if/when ECB QE2 arrives though :)

Hope everyone got themselves a few points today :rolleyes:
 
^^everything looked ok in the morning-next time i looked there was a sea of red
images
 
dow down last night and dow futures down 30 plus-ftse and dax want to rise even the the dow futures are down-BUY SIGNAL-B carefull though
 
I'm being so utterly careful I'm not even trading right now tbh.

The car makers constitute such a large part of the DAX and their liabilities over this emissions scandal are potentially gigantic and will roll on for months and months - a bit like the banking (libor, darkpools, etcc) scandal did here in the UK. So I will feel much more comfortable buying a bounce closer to or maybe under 9000.

Now having said that, just watch the DAX put back on 300 points whilst I sit idly by.
 
f2calv said:
I'm being so utterly careful I'm not even trading right now tbh.

The car makers constitute such a large part of the DAX and their liabilities over this emissions scandal are potentially gigantic and will roll on for months and months - a bit like the banking (libor, darkpools, etcc) scandal did here in the UK. So I will feel much more comfortable buying a bounce closer to or maybe under 9000.

Now having said that, just watch the DAX put back on 300 points whilst I sit idly by.
Click to expand...


BBC reported that other car manufacturers statements will also be closely looked at now.

Apparently, real life road tests produce 4 x more emissions than lab test ones. So I think we may be looking at a can full of worms here and not just VW...
 
The macroeconomic data from China justified the fears of investors about the Chinese and global economy. Despite this data, the prices of the main raw materials remained stable, so it can attend a less selling pressure on the mining and petroleum sectors, much penalized in recent sessions. The situation of the Volkswagen came additionally to stress the panorama of the automotive sector. After the strong recovery of the past two years, which ended a row of six years of contraction, the outlook for the automotive industry became less optimistic with declining sales in emerging markets (especially China) and with increasing environmental pressures in Zone euro. The case of Volkswagen (which has already established a provision of € 6500 M. to deal with legal processes) may increase the pressure on other manufacturers (even if they have met the standards). The diesel is not as used in the US as in Europe and the sale of diesel vehicles was one of the bets of European manufacturers to enter the market of this country. European manufacturers are world leaders in the technology of this type of vehicles. With the infringement committed by Volkswagen this bet of the European brands may be impaired. In a survey prepared by CNBC on its website, 58% of respondents said they will continue to buy a car diesel compared to 31% who do not have this intention. However, several European countries have already announced that they will conduct rigorous testing of vehicles powered by this fuel, which represent additional costs for car manufacturers. Today at 14h00, the ECB President Mario Draghi will give some perspectives on the current economic climate to the committee of economic and financial affairs of the European Parliament. Although the outlook for markets is still threatening, given recent declines one can not exclude any short-term recovery.
 
f2calv said:
I'm being so utterly careful I'm not even trading right now tbh.

The car makers constitute such a large part of the DAX and their liabilities over this emissions scandal are potentially gigantic and will roll on for months and months - a bit like the banking (libor, darkpools, etcc) scandal did here in the UK. So I will feel much more comfortable buying a bounce closer to or maybe under 9000.

Now having said that, just watch the DAX put back on 300 points whilst I sit idly by.
Click to expand...
i would not touch the dax lol-ftse only
 
In the long run, this whole car malarky is "nothing". This has happened in the past to big car manufacturers and they've always bounced back. Long term buying opportunity if you ask me
 
chronictrader said:
In the long run, this whole car malarky is "nothing". This has happened in the past to big car manufacturers and they've always bounced back. Long term buying opportunity if you ask me
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Not sure, look what happened to BP in the US with our special relationship. Don't think Germany has what we have with the yanks. There only saving grace is likely to be if there are others in the same boat.

US take a much stricter view of these practices than UK or EU imo.
 
US markets closed yesterday without major fluctuations. This behavior turns out to be disappointing in light of recent losses suffered by the stock market. In fact, contrary to what occurred in Europe, the US indices were unable to rebound, In recent years, the “buying the dips” strategy (buy the corrections of the market) had been a very popular (and profitable) strategy among investors, whether institutional or private. However, in recent weeks there have been few followers, signaling that in August, the strong and sharp falls suffered and the volatility observed, marked investor sentiment. Today, the President of the Fed, Janet Yellen, will be present at a conference organized by the University of Massachusetts at 22h00. Given the uncertainty generated by her press conference in last week’s meeting, this time she may try alleviate the situation.
 
In the pre-opening, European shares traded with sharp gains. Contributing to this initial impulse were the words of Janet Yellen, the recovery of raw materials in the Asian session and some expectations that Volkswagen will present a new strategic plan that will draw the outline to solve the problems caused by the scandal of diesel engines. Despite this recovery the current environment continues to offer many challenges to investors, thus I'll keep a cautious stance.
 
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