100pt move on the DAX so you should have done ok. Nothing to take away from the session, some up, some down... Average of all markets was zero. The 2 noticeable were the FTSE with almost +2% and the Russell with almost -1%. Watch the Russell for a health check, the other US Indices are all just reflecting the FANGs, FAAMGs, MAGAs, MANAs Etc, not the overall market at all. Tomorrow might see some sanity, US markets should be getting off the fumes and trade on reality next week. As was said here: https://www.elitetrader.com/et/threads/es-journal-2019-2020.328086/page-982#post-4899923 nowhere to go but down. Private Joke: Hope Trebels & the Lurk don't find us on here.
I did ok on the DAX last night but sometimes kids sport gets in the way. Just had a look at the FTSE and from sideways movement to a spike is something to watch. Intra day is ok but longer times you have to be careful. Often there is a retrace. DAX and DOW are still tracking sideways. ASX is the odd one, keeps going up?? I guess with such low interest you have to park money somewhere. re Joke... We can only but hide but I had a read of the day trading thread here and as per usual, just arguments so maybe there is a place for them???
As long as the troll snags a response, it should keep them happy & occupied over there for a while... might even go over once in a while to stir the pot.
Yea, that's why I got out of the longs instead of trying to ride the wave... the spike was a little too fast, although, Johnson is giving some indication that the never-ending BREXIT story will actualy end in Oct and I think this is welcomed as industry can now plan for an exit with no deal and get a bonus if there is a deal. In the US also, Trump saying that there will be no deal with China at least till 2020 has taken some uncertainty out, COEs can plan on the assumption of no deal ever, but get a bonus if there is a deal. IMO, US markets are making mountains out of the China molehills..US rose to a super economic power without even acknowledging that China existed (Pre Nixon), it does not need China to stay there. If fact, many studies have shown that since the rise of the middle class in China, there is no difference in productivity between China and the US. It's only delusional people like Tim Cook that belive manufacturing must be done in China... The only advantage of a China deal is if it includes unrestricted access to China, but even without that, the US is just fine as long as the theft/transfer of IP stops. As for the ASX.. it moves in mysterious ways, I gave up playing it on fundamentals years ago, it is rigged by insiders, even throwing the rule-book out and following them gets you the crumbs.
China is very good at manufacturing other peoples ideas... even on the manufacture side, much was knowledge from other countries. They just supplied the labour. China is interesting in that it is moving/moved again towards a dictatorship. That usually makes the natives nervous especially those in HK. ASX is pulling back (short at the moment) and will see if it come back to the 6850 level. Intraday I suspect the super funds more or less move it around. They have a constant influx of funds that need to go somewhere.
EU opened slightly softer than expected, a sea of red on the screen except for the FTSE100. US futurs down too. Some gold bug (a miner and analyst) went on CNBC making a $1,900 call on gold... news to me, anyone concur?
Looks like another 100pt swing day for the DAX, should be good for your trading style... not often do we see the DAX swings grater than the DOW's. For me, not so good, I'l long IBEX & MIB, both down 1%
Yep, I am in at 12404 and still holding. If it makes it down to 12235 it will be interesting. I am just following it down atm. Out @ 12257. Looks like it might start to make its way back up to 12290-300