Catalysts at play:
1) Benefiting from a thrust from an oversold situation on key support.
2) Quarterly option expiry next week which is a pull on delta management.
3) Greek deal which could be reached despite media alerting tone.
Trading:
> I would take profit on 2/3 of my long position at 11,500 and play the last bit up to 12,000 in 10% size.
> Move stop to entry at 11,000 (on close).
> 12,000 would be a fantastic short towards the end of the month – factor excess 12,200 on emotional announcement.
Note
Watch on intraday stops, with DAX, there can be airpockets of up to 500pts intraday (like what happened on SNB announcement in January). Hence my stop on US close.
1) Benefiting from a thrust from an oversold situation on key support.
2) Quarterly option expiry next week which is a pull on delta management.
3) Greek deal which could be reached despite media alerting tone.
Trading:
> I would take profit on 2/3 of my long position at 11,500 and play the last bit up to 12,000 in 10% size.
> Move stop to entry at 11,000 (on close).
> 12,000 would be a fantastic short towards the end of the month – factor excess 12,200 on emotional announcement.
Note
Watch on intraday stops, with DAX, there can be airpockets of up to 500pts intraday (like what happened on SNB announcement in January). Hence my stop on US close.
