Short DAX at 7740

I see, is that based on cash index's all time high proximity to current levels?

 

scaled out

edited: flat now

 

Long

stoped out

 

Sorry have been a litle bit imprecise about DAX high ( 8223 expected - 8217 actually ), but short bias correct. I expect to see tomorrow at least 8008 - 8032 area...

 

Target reached 8032. Flatt position. Profit + 173 points.

 

Short here

Stopped out -3

Great trading AS!

 

Another short

scaled out 1 lot +10

scaled out 2lot +24

 

3rd lot sold b/even

 

If you are short in DAX, stay short and work with trailing buy stops over here. Kind of first resistance is running at today´s high at 7994...Second resistance at 8024-8032 area...I still remain bearish as long as long as Central Banks remain hawkish. Over the weekend BIS stated that Central Banks may keep raising rates

See article here :
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aKS3Dz0jEj0Q

Also negative : "revaluation" in CDO market still going on. Regardless of Bear Stearns rescue effort ! Better to pull the trigger now and still get good prices then later - when everything is beaten down...

 

Next support

1) 7883
2) 7849
3) 7813