Dax

slow grind higher...anybody got any ideas ! Feels like we should get one more spurt higher ..a good push through 7k, ..then finally some form of correction...at least of the move up from Dec, if not the move up from June/July last year...
 
catracho said:
slow grind higher...anybody got any ideas ! Feels like we should get one more spurt higher ..a good push through 7k, ..then finally some form of correction...at least of the move up from Dec, if not the move up from June/July last year...
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I'm puzzled really at the strength of all this. Although yesterday's low was at clear support from 6950 (futures price), the bounce and following rally back into 7000-territory came seemingly out of the blue :eek:
 
firewalker99 said:
I'm puzzled really at the strength of all this. Although yesterday's low was at clear support from 6950 (futures price), the bounce and following rally back into 7000-territory came seemingly out of the blue :eek:
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True. Now the Dax is playing triangles again while we wait for the US CPI data.... Finding it difficult to justify buying the Dax at these levels, looking for good shorting op, but everytime it falls it manages to find buyers, and power back up again.
 
catracho said:
slow grind higher...anybody got any ideas ! Feels like we should get one more spurt higher ..a good push through 7k, ..then finally some form of correction...at least of the move up from Dec, if not the move up from June/July last year...
Click to expand...
If there is something the DAX can do really well, it's slow grinds higher. You really don't want to be on the wrong side of them.
 
Alphatrader said:
True. Now the Dax is playing triangles again while we wait for the US CPI data.... Finding it difficult to justify buying the Dax at these levels, looking for good shorting op, but everytime it falls it manages to find buyers, and power back up again.
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Exactly! Buying it this level seems crazy, but when shorting you can only take small profit (although I took nice profit on yesterday's short back to 6950 area), but each time it comes down, we fly straight up again. So far the sky seems the limit although we are very close to the upper trend line... if we break it I'm looking to exhaust the trend.
 

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I agree with the small profits on dips, but you just know that one of these days you are gonna blink and the Dax will be down 100 pts +. It just seems everything is so incredibly bullish at the moment... reminds me of the runup into May highs last year, and we all know what happened in the month after that.

Good cover at 6950 yesterday Firewalker99, i missed the move but i probably would have held out in the hope for more......
 
The Dax is long overdue a correction. The recent rise IMO hads been laboured, but as with every market you have to keep watching it like a hawk ready for the movement to take place.

Also, I've had the usual update email from Goldline detailing how much their long postions are in profit, this usually precedes a nosedive in the market :LOL: :LOL: :LOL:
 
Problem is that the trend is most definately still up, so you are always swimming against the tide to go prematurely short. What is needed is a catalyst, something fundamental which will put doubt and uncertainty into investors minds.... in May of last year, that fundamental was inflation and the markets really tanked then. But then again, oil was at $78 at that time....
 
Alphatrader said:
Problem is that the trend is most definately still up, so you are always swimming against the tide to go prematurely short. What is needed is a catalyst, something fundamental which will put doubt and uncertainty into investors minds.... in May of last year, that fundamental was inflation and the markets really tanked then. But then again, oil was at $78 at that time....
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I agree the trend is up but weakness is creeping in. I'm not 100% convinced that news really controls the markets, yes, it provides a plausable explanation for some for a reaction at a particular time, but the reality is when the professional money wants out the move will be swift and uncompromising.
 
Alphatrader said:
Problem is that the trend is most definately still up, so you are always swimming against the tide to go prematurely short. What is needed is a catalyst, something fundamental which will put doubt and uncertainty into investors minds.... in May of last year, that fundamental was inflation and the markets really tanked then. But then again, oil was at $78 at that time....
Click to expand...

Well we had Tokio raising intrest rates last night, and now we have 0.3% core inflation... these numbers aren't exactly good. But the market often stages a reversal of the initial reaction after a figure is out...
 
Yep, but the professional money will exit once the fundamentals get weak. We havent seen any weakness at all in the last few months and this may be the first sign that inflation wont go away and that the next rate move may very well be up in the US. The ECB flagged this a few weeks ago to which the Dax took notice for one day before continuing upwards. I am not a pure fundamentalist or technician, i use a bit of both, but i feel you can read alot into the way that markets react to information as to the herds mentality at any given time.

Anyone catch the 40 points in the Dax?
 
I shouldn't say this cos it's a bit silly but we have 7000 in dax, 6000 in australian asx, and ~18k in Nikkei there MUST be some reaction somewhere.......???

Australian's rejected 6k last night ...
 
I know....i was short at 5997 cash in the ASX and covered at 75.

Am still short some BHPs and just gone short again in the ASX at 5961 cash. The only market that didnt move on the US CPI move.

We'll see what happens.

Alpha
 
Alphatrader said:
I know....i was short at 5997 cash in the ASX and covered at 75.

Am still short some BHPs and just gone short again in the ASX at 5961 cash. The only market that didnt move on the US CPI move.

We'll see what happens.

Alpha
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WAY2GO Alpha...... lets hope the Asx does not put in one of those next day supa-rallies it's so keen on.........
 
The next couple of hours are going to be interesting,

Currently the Dow Cash is -50, Dow MAR Futs -42, Dax -30 with 10 mins till the US open. Yesterday we had a similar sized drop early doors before the positive repsonse.
 
Hello all, any objections if I join the discussions, have some time on my hands for the next 6-8 weeks,
 
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