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Tuesday, October 22, 2019

THE DAX DISAPPOINTS TODAY

“Great market, too bad it didn’t trade much today!”

Great day to start trading the DAX30 … not … today sees one of the lowest range
days we’ve seen in months … not sure if it’s due to BREXIT, or it’s simply
Oktoberfest spillover and time to drink brewskies 24/7 … dunno, but this is
ridiculous … range here at about 1 PM EST, with Europe closed now, is 67 index
points, almost 70% beneath its 20 Day Range MA … wow, what a sigma miss this
is on the low side.

In any event, nothing to do but wait for tomorrow and tee the ball back up … not
that any other market is doing great shakes, cuz none of them are … excluding
GBPUSD simply cuz of the clusterfark known as BREXIT, and not wanting to get
caught up in headline bullshit.

The DOW30 goes to a new high, but ranges and trading action very dull … it feels
like banks are simply hunting for buy stops on the upside and flushing shorts out
… trading action is abysmal.

And here we go with more BREXIT bullshit, as both the DAX30 & DOW30 get
“monkey hammered” on negative news right around 2:30 PM EST, and the DAX30
trips sell stops for a new low for the day … just the kind of bullshit I want to avoid
in late afternoon Gotham trading, while feckless British POLS screw things up
… and away we go to the downside, with the DAX30 now moving the day’s range
past 100 index points, all mind you after the European close … from the way the
selling is picking up into the NYSE close, apparently the street doesn’t like the
news from Westminster … and now I see some more “Trump’s gonna get
impeached for sure now” news coming across the wires, and while dubious at
best, given the tone from BREXIT, traders are looking to sell … as I said before,
more afternoon bullshit in New York, gee what else is new? … let’s see how this
shakes things up for tonight and into tomorrow.

More tomorrow on the “Traders Course” [TC] release ... we’ll get the new
PAMM / MAM kicked off tonight, after a slow start due to sloppy trade conditions,
and get underway there … until tomorrow mi amigos … Onward & Upward!!

Have a great day everybody!  

-vegas


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