Friday, September 4, 2015

German Death Crosses

Well there's a Rorschach headline for ya.
One could project most anything one's little psyche comes up with into those three words.
I'll go with Hermann Göring and FT Alphaville.

From the latter:

Dax death cross
Here on Alphaville we love charts. We’re not quite so keen on chartism, even under its respectable name, “technical analysis”. 
Still, you’ve got to admire the ability of chartists to come up with great names. Today it’s the turn of the death cross again, our second-favourite technical indicator (after the Ichimoku Cloud). 
The death cross being hyped is in the Dax, which has had a terrible time since its peak in April (the headline index, which includes dividends, is down from above 12,000 to 10,000). 
If you’re not scared merely by the mention of a death cross, consider this from Bloomberg: 
The last time the DAX formed a death cross, the index dropped 12 percent in five weeks to a one-year low. It then surged 44 percent to a peak in April. 
Another 12 per cent? That would be properly painful for those already down more than a fifth before the recent bounce....

And the last time lines were crossing, Sept. 2014:
Equities: "All Death Crosses Are Not the Same"
Please note: we did not bother gentle reader with Death Cross posts last week. 
No, we went with "You Can Read about the Fed or You Can Read 'Randy Eurasians Surprise Scientists With Ancient Sex Romp'" and "Oh Dear God: The IMF's Christine Lagarde Will Belly-dance to Achieve Her Goals" and "Things I Cannot Do, Part ∞, Sound like a distorted electric guitar playing Led Zeppelin's Whole Lotta Love". 
Now it's time for Death Crosses....
Which post linked to "Look Past the Current Crises and See.... An S&P Death Cross":
...So how good a sell signal has an iron cross been on a historical basis?....MORE 
To answer that question here's Herr Göring wearing a few of his crosses, including the one-and-only Grand Cross of the Iron Cross:

Definitely a short.

The Grand Cross was one-of-a-kind in more ways than one. 
Besides being twice as big as the Knights Cross of the Iron Cross (on boobie) the cross Hitler gave fat Hermann was silver but der Größe didn't think that was spiffy enough so he had this one made with platinum edging for public wear.

The Germans planned an even higher honor, The Star of the Grand Cross of the Iron Cross that they were going to award to the most successful German General of the Second World War, when Germany achieved victory.

Didn't happen.