GS /Optimus : Afternoon both----1 Mar 2015 13:26
Still alive after last nights excitement (lol) ----shed didn't explode and lots of hot coffee kept the firemen happy till the early hours !! ---neighbour faces some awkward questions and possible fines now for keeping Gas Cylinders in a shed so close to his house !! -----
GS :- Yes, bit unlucky most definitely !! ---these funds , altho' multi-mix comps. do seem to stick to a few basic supp. and res. levels tho' !! --- never mind , always another winner just over the horizon ( hopefully ) ---
Optimus :--- Yes, absolutely incredible strength in the Dax atm . ---i new it was Bullish but i think it's caught a lot of guard in the last few days !! ---
I had a short @ 11253 , 11290, 11330 , and 11350 ------got out of all those @ b/e on the drop back to 11306 --then went short everytime it hit 11350 and dropped to 11306 ish ---did well the first few times and then when it burst above 11350 it triggered my shorts @ 11375 and @ 11400---so i know have 3 short posns open giving me an average of 11375 -----
IG sunday markets have the Dax at around 11409 atm ---
I have spoken to a couple of sources about the Dax strength and they all concur that it is US Funds and others buying the Dax ( not just the 30 companies but the Index Futures themselves) ---because of the perceived strength in the Eurozone ---hence the rise in the Dax and Ftse100 and the opposite in the Dow !! ---
Over on the Spread Betting bb we are all short ( much as i wanted to go long on friday (lol) ) ---some deeper in the CARP than others !! ---
Yes, it is very overbought on the 4 hourly and the main Daily and well over-extended on all EMA's -----we are all looking for a drop of at least 100 pts and hoping for a lot more --perhaps down to 11200 ? --
If the Dow decides to "take off" now tho' then the Dax will continue higher ------JMVHO mind --
I can now stick with 3 posns. and a rise to 11500 will put me 375 pts down or i can add more shorts @ 50 pt. intervals and a rise to 11500 will put me 425 pts down ---
I'm about 77 pts. down atm on fridays closing level -------Dax is simply too high now to go long , so ,in a sense , the decision has been taken away from me and others !! --
If you think the Dax is going higher tho' before the drop , then hedge long is the trade ( which i may go for) as money will be made just before the inevitable drop ---decisions, decisions !!! -----
GL