AS, look at these 2 hour charts, I did suspect bear flag p/a, this histogram + divergence certainly confirms a bear flag, this whole thing might crash big soon. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1560904>
Well, you know my 4 waves theory in FDAX...if FDAX is failing 4 times in attempts to break support / resistance levels it might get uggly...one or the other way... right strategy now is an option play !! FDAX is stuck into a range ( 7400 low end / 7675 high end ). Breakout will appear in short time - so play the breakout scenario !!...my fundamental point of view is that we have still some risk adjustment to make...there are always laggards in the makets having missed movements...after credit crunch mania and subprime mania we had some "catious" good news today...for example Blackstone´s new P/E fund and high-yield bonds rally as market sentiment rises...FANNIE MAE and FREDDIE MAC news etc...
Take care, BNP Paribas freezes three funds amid subprime concern ! Most probably we will hear from other market participants, too, about their messy investments ! Truth about engagement comes in well dosed portions !
Stay tuned for August 15, as the Journal notes: This could lead to redemptions in big funds that could drag us down a notch, depending on who these funds were positioned.
long 3 scaled out 2 lots +9 bulls will try and pick it up here, eyes on 10 min chart 3rd -11 worth the risk 7400??? long 3 -3.5 long 3 scaled out 2 lots +5
Take care with your longs, news flow concerning subprime problems spreading globally is overshadowing every positive...
-0.5 on 3rd Long 3 10 min chart still points to a possible short squeeze, could well be a rapid one scaled out 2 lots +8 let's see if this works again - C'mon bulls you morons, push! Bears have more money than bulls LOL, c'mon, let's move it. staying long with 1 lot for now
Try some intraday longs over here at 7512.00...let´see whether it works...stop loss somewhere around 7470..target 7595...