DAX - January

[bonsai]

seems like this has died something of a death but will give it
another try before January runs out.


Here is a simple chart to kick things off.

 

[jslee]

Looks like a shorters dream topping all over the markets.

Jane

 

[oatman]

DAX Futures

I'm thinkiing of looking at DAX futures on IB. I notice they show level 1 and level 2. Does this refer to depth of market as in Ftse future?

 

[qaza]

oatman,

do you look at mkt depth when you trade ftse futures ?

 

[DaxTrader]

yes it's the same

annoymous though, not sure how much spoofing goes on in the dax, but personally don't use DOM, can't seem to get anything out of it

Bonsai - bull flag in Dax has played out hasn't it - wonder whether we have more upside now

 

[bonsai]

Dax
it does look like it but am still learning how much dax likes to fill
its gaps.

so we may need to hunt for support before going higher ?

 

[oatman]

qaza, yes I do look at DOM in Ftse.
DaxTrader, you're right about spoofs as well.
however, I think it's worth it to see say 800 lots one side v's 200 the other, over 6/7 points to help with a decision. It's can be nice to see you're not p*ssing in the wind, if you'll excuse the phrase.
Overall I think I gain more than I lose using it.
Where's best for a free chart to keep an eye on it? I'm a bit busy at the moment but just want to check on it from time to time.

 

[bonsai]

I have a gap in the 4080/90 area.
Ideally, it should have been filled before moving up.

so I wont be surprised if we have to pull back to there first.
(the correction down to 100 looks incomplete)

 

[qaza]

ever noticed how the mkt moves in the direction of size ? the obvious conclusion when you see 800 offered and 200 bid is that the mkt should go down but in my experience it frequently moves up

 

[TheBramble]

Looks like a shorters dream topping all over the markets.

Jane

A shorters - Dream Topping - all over the markets...?

Jane, it took me a second to realise you meant what you meant.

I must have been hungry. but the visual imagery was exquisite.

 

[qaza]

bonsai

the gap you are highlighting was at the open on the 16th on the cash market I presume ?

 

[qaza]

bonsai,

just looked at the futures chart . there's no gap from the 15/16 th so you can safely ignore the gap you mentioned

 

[bonsai]

qaza
you could be right but I dont see the need for correlation with the futures market over something like this.

btw,
if we break 130 then we break what is a downside island reversal

 

[SKJ]

Todays gap was a beauty,
But what really got me jumping (in panic) was my decision to go long at around 12 noon local german time. So I get the fill @ 4161 and the moment I hang up the phone I see 4151 - 4141 all in no more than 3-4 seconds. Looks like every other market that was open did the same wild spike up and then down. (I got out in frustration at 4162)

 

[bonsai]

yawn ?

does seem to be taking a long time to fall !

perhaps trying to defend 130 from the 22yd line ?

 

[DaxTrader]

Qaza and Oatman

A mate in the trade so to speak reckons the market trades towards size before deciding to bounce or fall...

Oatman - very good place for a high quality 15 min delayed charts is http://www.mandirect.com/trading-tools/quotes_body.cfm
if you set chart to high density and large size.


SKJ -

that was Nokia sales figs that caused that. If you are trading Dax particulary (large technology component relatively), the nokia quarterlys, or anything from them, is often as big a mover as the biggest US figures. Good idea to make a note in your diary for just under 3 months time, and check the Market reports for day ahead on Bloomberg/ FT anyway for potential big figs.

 

[bonsai]

looking like the 22 line might have been good enough ?

at least for now.

4130 seems quite important ?


quite right qaza.

 

[qaza]

bonsai

in my day it was the 25 yd line...............should'nt it be the 22 mt line ?

 

[Crassula]

Yes, that huge spike caught me out as well, 1 minute I was 10 points up and minute later stopped out for a five point loss.

I had to laugh, I was just about to press the sell button and hesistated for a split second and the rest is history.

 

[bonsai]

they've changed our pints into litres
and our yards into metres

but they forgot to change me !