The market had a bounce , sold off again, made new lows in dax, and bounced sharply once more. On the right hand side is the sp daily chart:
Last month I was looking for the following trades:
sell eur/chf around 200 day MA(1.25 at the moment) :Target is 20 day MA.Stop should be wider than usual, because of the possible volatility after such a move. SO size of the trade should not be too big. I dont see eur/chf going those levels that fast, but you never know what SNB will do to "normalize" the franc.
INDEED SNB INTERVENED THE MARKETS DID NOTHING SO FAR.
buy index future:sp index support 1100. I am long small index position around sp 1120, with sp support around 1100. I will buy around 1100 if the market sell of continues, and I will scale out if the support is broken.I still have some extra puts left , so I am covered to some extent.Target 1208!
sell index future:.: Mainly 200 day MA, around 1285. .I will probably sell 20 day and 50 day MA's with tight stops, depending on the situation at the time.
COULD NOT SELL!
This month I am looking for the following trades:
BUY small gold position around current levels, increase the size if the sell off continues, reduce if 200 day MA broken (1520) for the real long term! (Already bought 1770)
SELL index future:.: Mainly 200 day MA, around 1283...I will probably sell 50 day MA' with tight stop around 1231 depending on the situation at the time.
SELL eur/chf around 200 day MA(1.2369 at the moment), BE READY FOR EXTREME VOLATILITY , keep the size of the trade managable.
BUY index future/STOCKS:in case market goes close 1100 level. major support..