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Salute Guido (@guidoisot) - Grazie per la tua domanda!
Yes - I am still in the trade. Not sure what it will give. My view on the chart is still bearish. Many things mingle the influence(s) at the moment. October will be the most important indicator to show where the last quarter 2022 will end.
So looking forward for the moves as well the bitter ones.
There are many pressures left and right.
This is no recommendation - just a hint of my very own perception!
Thank you for your reply and for your daily posts, which I find always very useful.
Yes in Swizterland kids learn since very early at school many langauges, even Italian! Smart people!
Nice w.e. to you too.
gt
Credit Suisse Shares Hit Record Low, CDS Spike To Record High After CEO Letter Backfires
Traders have woken up this morning to more systemic fragility as Credit Suisse debt and equity is dumped in an unceremonious rejection of the CEO's letter of reassurance over the weekend.
CS stock is down over 5% in pre-market trading (ADRs) to a new record low...
I hope everything is ok with @GFIs1. I mean, markets did make some moves up and his position is still open.
Five-minute charts are very short-term, but for some chart specialists very meaningful.
Source Finviz
It seems, at least here on the 5 min charts, that for the time being the air to the top is out. Also nice to see the volume that constantly goes down and then the first sign of a trend change. We will see.
Everything is fine here. Was away from keyboard the last days.
Could not do anything on that open trade anyway.
So it is the DAX that is getting out down of Kumo again.
I am waiting for 11900 soon.
As this is/was a battle @12k line - such counter moves are to
be seen often.
As said last week the longtime direction is short.
Things can get quickly worse in Germany on the very high
prices in food, electricity, heating etc. which will press a
recession even more. That facts will not change in the next
months. Then there is still the threat from Russia in the war.
On the money base the interests are jumping up in many countries.
With those reactions a inflation is not being stopped in short time.
Looking forward to next week's movements - all on track.
GFIs1
1) CS wants to sell their hotel @ the Paradeplatz: former "Baur en Ville" and seeks to get 400 Million CHF for it. The BIG problem: the house is in a terrible renewing phase that takes one more year to finish. It shall be named then as "Savoy".
Nobody takes over a building during a renovation without any ROI for the next years.
Dreaming of cash is not a very good base. The liquidity had been disbursed to the top team as well on their own trading tables: closing the margin calls will be the last thing needed in this situation.
2) Credit Suisse to buy back bonds
Credit Suisse wants to take advantage of current market conditions to redeem bonds.
Crisis-hit Credit Suisse wants to buy back up to three billion francs worth of its own bonds. The big bank is making cash offers for eight senior debt securities denominated in euros or pounds with a total value of up to one billion euros, according to a statement from the bank on Friday.
GFIs1
So - bad bank with 51k bank(st)ers to take over immediately - finally by the state!
If you like to invest - the capital is now @ 11.78 Billion Swiss Francs. Really cheap for a Bank. Go For It!
