FRANKFURT (DEUTSCHE-BOERSE AG) – German blue chips are once again some distance away from the brief record flight – local investors are reacting with positioning, especially on the short side. Goldberg sees this as a positive development in the notorious bearish month of September.
September 5, 2024: Three new all-time highs since our last sentiment survey – you would have thought the DAX was in a steep uptrend. However, the new record highs are only marginally apart, and the difference compared to the maximum in May was not even 100 points in the end. Not to mention the fact that the next “round” level of 19,000 points could not be overcome on a closing price basis. In other words, there was no buying panic at the all-time high.
Of course, one could argue that the sluggish trading was due to the US holiday last Monday. At the very least, the complete presence of the US markets after the long weekend resulted in something of…
