What are your thoughts? Nikkei seems to continue to sell off everytime the futures come up during their off hours. It's already seen close to a 15% correction in a few months. Time to buy?
bugs me....50% up last yr after goin' nowhere fast for ages..then this yr wooosh...deflated like an elium baloom...i cant make sense of this index, shud recover and end the yr with some gains but tough to tell where the bottom will be..maybe 15500 or 15000...
I have a feeling it will go below 15000... This year started out decently when it made a run from 15000 to 17500 in no time. Well, I'm glad I covered 1/2 of my position at 15700 before the bell rang. As I'm typing this, Nikkei futures is below 15300... geez. relentless selling. This could carry over to the US.
well nikkei futs started yr just below 16500 so we are down substantially since then...and it doesnt make much sense to me after last yr gains and that run up to 17500...ya tho no breathin' today.
It's at support levels, although I do agree it's headed lower. Depends on wether Japanese Central bankers raise rates, if they do that will suck out liquidity not only out of japanese markets but also US markets.
carry trade coming off in a big way. hedgies are getting smacked pretty good right now, but they are sheep..Too many following what worked in the past..If gold breaks the $720 high it just made, look out below
With the recent turmoil being taken care of (insider trading arrest), I see the Nikkei ready to go up from here. firm support at 15200 - 15400 is evident. I got in on 3 contracts of NKD right before close. Targetting Nikkei to be at 16200 by next week - if that. Tight stops.
Foreign institutions are leery as their 'free money' at 0% is drying up and when levered at 5-10x even a 0.25% increase can start to wipe out the carry trade gains they were seeing. Will it spill over into other spec commodities markets? I see this as a correction on the way forward in a bull trend where the correction and range could last until the BOJ makes more clear what the plan will be. The insider trading scandal is just a bump in the road... "Gomen nasai! *bows* and all may be forgiven..."