decembererer, page-121

T91 & other SPXers
Gold: agreed with all the T91 logic re short however shorting gold is proving to be the opposite of catching the falling knife (was saved by one of those 10 minute spikes from entering a short)

DAX: looked at my chart of DAX (vs cfd) & almost identical story to t91's (pleasingly. Things I see that could support view that we have seen some type of top on 21/12/2010:

-DAX likes a fib and I have the 76.4% retrace of 2008 downward dive as 7074.8; 21/12 close at 7078; also have a major sup/res line at 7072 which works
-I had a nice up trend line on the stoch which has just been broken. Last time I could find a similar pattern was interestingly Nov/Dec 2009 which led to a 10% (670 point) correction in Jan/Feb 2010.
-Sept-Dec rally was 1254 points (21.5%) which is significant by any measure eg. Must end sometime in a continent racked by debt issues?? & would be nice bookend to the 1588 point Mar/April 09 rally that kicked off the massive 09/10 DAX rally

(PS not sure whether my occasional forays onto SPX welcome but I will continue to watch & post untile u tell me to b^%%er off) LOL
g