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DAX and STOXX Charts
By thetrader.se
After the brutal fall in early August, majority of Indices bounce up some. Don’t get fooled by this, as the leader, the DAX, is showing us the way once again. The DAX is the big underperformer, and leads us lower in today’s trading. The bounce in DAX which lasted for some days, will eventually evolve into another break of the lows. Below DAX and Stoxx charts. Note how the STOXX is approaching those must buy lows of 2009. What if we retest those lows yet again, and people realize the fallacy of long term investing. Even the “best” investor, who caught the rock bottom in 2009, is up “only” 25% if you invested in the STOXX. We won’t mention the other ones, that didn’t time the bottom….Worth the risk? For the US Index reversal put in yesterday, check the link. (If you have problems viewing the charts, check Charts.)
for pattern lovers….
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http://youtu.be/1lWJXDG2i0A
The lower chart looks like a profile of C Lagarde in a prostrate position.
don't be surprised if the market bounces as treasuries soar. joint session before Congress is Incongruous. Those things are reserved for going to war. They've already shot their Great Society wad on Obama-care. No one is saying they're not spending money like drunken sailors already. WTF! Get rid of the anit-trust division at the DOJ and everthing 'll be fine in a week. Unless of course you want another "Travellers buys Citi" moment where "they pass the law to fit the new reality that the law really doesn't matter to us here in Congress." Of course this time around it's "Jamie Dimon buy's everybody." JUST LIKE HIS MENTOR! Mabye even INCLUDING HIS MENTOR!
Now short Dec. Long Bond onthe CME from 139-22 as of 7.02am today, HST; after being stopeed out at zero on the 140-04 Sept. They gotta go down; there's practically no "up" left. (I like simple analysis).
Yes, technicals do matter, as in when a person says, " look at all the FRNs I have" I say, "technically, you can't buy shit".
Stopped out this morning of my BAC at $7.37 for a loss of zero. Stopped out of my Sept. Short on the long treasury bond at 140 for a loss of zero.