added 2 long -0.5 1 still long 3rd sold +14.5 short 3 -3.5 short 3 7515 would be good to get -2 short 3
Some U.S. technical indicators suggesting that rally will go on and surprise bearish market participants, who are trying to fade it...a "correction" of a "downward trend" - they will find out soon - may occur in much wilder upswings then they anticipated...as I stated already last week I am liquidating my FDAX long-term positions ( built up during my dynamic hedge "program" )...straddle beginning to show also "results"...I have no target for this rally, because I am generally skeptic about the macroeconomic environment ( subprime crisis and related implications - by the way : a lot of people not aware that we are experiencing a similar forcelosure crisis because of rising ARM´s in other countries around the globe like on the Spanish market ! )... So, selling into strength as long as there is liquidity is the name of the game ! GL+GT
There is a bearish divergence on 4 hour chart ES and so-so one on DAX, FOMC minutes might take ES to 1500 mark where I think sellers will be coming in strongly. Basically fade da news is expected near 2pm Eastern. Short 3 here off 2 min chart scaled out +8.5
FOMC minutes: That meeting occurred BEFORE the Fed's Discount Rate cut. That cut, though primarily symbolic, represents a new perspective for the Fed and could possibly relegate the minutes to a true case of "yesterday's news." Just a thought.
JSS, when you say "head fake" are you talking about A) a drop that recovers strongly -or- B) a move higher that reverses?
True interpretation of news is price action as we all know, I will be first to admit that I have no understanding of fundamental analyses, so in a way FOMC minutes are meaningless to me, but a time to look at sudden increase in volatility and fade it off either near extreme tops/bottoms, small stop and potentially large gain.