Keep An Eye on the DAX

[tsptalk]

Germany is the strengh of Europe and the DAX has been very weak of late, particularly over the last two days for some reason. This could rollover to our markets next week. It's worth watching.

http://finance.yahoo.com/q/bc?s=^GDAXI&t=1y&l=on&z=m&q=l&c=

 

[FAB1]

Like to watch it switch direction!

 

[Dutchy]

Greece tapped an emergency reserve to help capitalize it's banks to meet ECP requirements... Greek default creeping closer? This could be cause Euro Markets decline. Trichet of ECP is making another speech tomorrow about European debt situation, should be Market mover for Monday.. It just goes on and on... Is ECP, EU and IMF running out of bandages??

 

[Viva_La_Migra]

Greece tapped an emergency reserve to help capitalize it's banks to meet ECP requirements... Greek default creeping closer? This could be cause Euro Markets decline. Trichet of ECP is making another speech tomorrow about European debt situation, should be Market mover for Monday.. It just goes on and on... Is ECP, EU and IMF running out of bandages??

I don't know about bandages, but they are running out of other people's money!

 

[James48843]

The DAX drop has several causes. Data last week showed the economies of both Germany and France slowing, and also a joint French/German proposal to initiate a "transactions tax" on the financial markets. The European Central bank had to go in a start buying Spain and Italy bonds to support them as a result, and that scared a lot of investors.

tp://www.dw-world.de/dw/article/0,,15322090,00.html

 

[tsptalk]

The DAX is up 3% today. Not quite hitting Thursday's high so it's not out of the water yet. Tomorrow may tell the story as a higher high (over Thursday's) would be a good sign. I still think our markets will be triggered by the European issues so keep an eye on it.

 

[tsptalk]

Not good...

 

[RealMoneyIssues]

It will be interesting to see how tomorrow fares for Asia and Europe. Our DOW futures are down > 230 right now... argggg.

Well, I am all in cash right now in my IRA/Brokerage so I can a little nimble, but wish I was short to take advantage of what looks like a big gap down on tomorrow mornings open. Not sure what is going to happen not that most of the traders will be back from their vacations and volume should be... well, much higher than it has been over the last couple weeks.

I will definately be watching the overseas market to see where I need to go.

Good luck everyone.

 

[law87]

They are doing a special tonight at 9 on cnbc

 

[James48843]

Ugly. Very Ugly.

DAX now down -5.28%

 

[tsptalk]

Ugly. Very Ugly.

DAX now down -5.28%

That was Monday. It actually opens again in a few hours. I've been trying to see a futures quote tonight on Bloomberg or CNBCW but I haven't seen it yet.

 

[tsptalk]

I've been trying to see a futures quote tonight on Bloomberg or CNBCW but I haven't seen it yet.

Not bad. -24 or about -0.5%.

 

[tsptalk]

The DAX almost filled the open gap yesterday before testing the lows today - with less than an hour of trading left in the day...