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Asia all red today as well - minus 1.6% and more
Banks are especially down as the states are not willing to help with tax payers money
DAX made a dive yesterday. Still with negative bias today
Important: Price is lower than 15k on the closing. Means the battle @ 15k is on the table again. That means some days sideways around 15k without any strong direction
DAX pre cash 7:30 @ 14948 which is in the lower range of yesterday
Given
1) the extreme 567* points from high to low during cash hours and
2) another useless battle at the 15k line
this will be a nonsense to risk any single point!
So sitting on my hands and wishing you good luck
GFIs1
* at least I profited yesterday a bit of those extremes
Yesterday Wednesday was a 'copy paste' from Monday:
Red Red Red all around the globe!
US all red
Strongest down was in Europe:
• Ftse - 3.83%
• DAX - 3.27%
• CAC 40 - 3.58%
Reasons were the insecurities of the banks - a crash which I described some days ago.
In Switzerland number 2 in the bank business - the Credit Suisse (Zurich) lost more than 30% in ONE DAY. The stock went to a new all time low of CHF 1.42. UBS, the number one in Switzerland lost 8.72% in one day. Credit Suisse seeked thereof a loan of 50 billion CHF from the Swiss National Bank (SNB). This one offered a „Covered Loan Facility“ plus a „short-term liquidity facility“.
The biggest bail out of a company in the small country Switzerland. Covered by the tax payer!
Background SNB lost last year 132 billion...
And Credit Suisse had in the same year a loss of client's money from 151 billion.
Not very good for a institute that exists more than 150 years. A shame for the banking place.
DAX made the same shift of down yesterday as we had seen on bloody Monday.
Unfortunately I could not take the normal Wednesday short and profit as I was afk.
Asia this morning all red except Mumbai. Less vola than yesterday.
DAX lost yesterday the battle @ the 15k line!
DAX pre cash 7:30 up 14946@ which is in the range of Tuesday.
Numbers: ECB decision 14:15 - expected interest rising from 3% to 3.5%
Speeches: ECB Lagarde 16:15
Green around the globe - Asia all green today:
Best performer Hang Seng with 1,84%
The markets are rebounding from the large losses this week
DAX cash closed near 15k again after getting above right before
Some positive bias for today
Numbers: US Uni Michigan Consumer Confidence
DAX pre cash 7:30 @ 15031 - which is above the 15k.
Expecting on the open a closing of the gap to see higher prices from there.
