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In hope of today's new money watering by the gigantic German watering can of the government the DAX is rising as if there were no crisis in economy, by states, by little production plus exports these months:
DAX started this morning with an up gap.
DAX short 9:30 to 14:30
entry @ 12194
exit @ 12264 stopped manually
result -70 points
GFIs1
edit 11:30 - price already reached +12,3k
An example from today: Lufthansa who showed a minus in first quarter of 2,1 billion Euro after a typical season minus of last year with 342 billion - the stock jumped up in the morning with +5%.
DAX went up yesterday far above 12000.
This morning still bullish.
Important announcement of the ECB (13:45h) if a second "bazooka" of 500 Million will be sent to stabilize the economy. It looks like this scenario might happen.
Therefore a trade today is possible:
Thursday trade
DAX long 10:30 to 13:00
entry @ 12448
exit @ 12418 (SL)
result -30 points
GFIs1
Sideways in a wider range. Lets wait for the ECB moment...
DAX started with a up gap to yesterday. Bulls in the run heading to 133xx.
This is to the fact that the longtime DAX (30) company LUFTHANSA will be ejected from the Index. This will happen on June 22 if everything works fine. With this the lowest weight in the DAX is history with his 4,7 billion worth today. Replacing "Deutsche Wohnen" a real estate company of Berlin will be the new DAX (30) member.
At the time in June there will be a bigger problem for LUFTHANSA as all the derivatives of the company need to be sold. This is for all except the futures titles. Means after June 22 the stock of LH will get much lower again.
LUFTHANSA was from the beginning listed in the DAX (30) which is a real image and money burner with this downgrading.
USA:
Unemployment numbers will be out 14:30h. Estimated percentage for last month: 19,8% jumping up from April with 14,7%.