Nikkei Down at open...

Discussion in 'Trading' started by Mike805, Jun 12, 2006.

Where are we headed this week?

Poll closed Jun 17, 2006.
  1. Significant Downside

    17 vote(s)
  2. Consolidation

    3 vote(s)
  3. Rebound off this support level

    7 vote(s)
  1. Are we going to see some serious downside this week?
  2. Anyone here trading the CME NK futures contract?

    CME Nikkei 225 Futures
    Trade Unit $5 times the Nikkei Stock Average
    Point Descriptions 1 index point = $5.00
    Product Code Clearing=NK

    This market has had some good opens to trade from what I am seeing - good direction right out of the open.
  3. Freefall.

    Nikkei: -3.4%
    Kospi: -3.3%
  4. Wow. Great action today across all the futs, not used to seeing 20pt swings on the ES.

    I believe the NIKKEI may be a precursor to further US downside and some serious volatility.
  5. trader99


    Who thinks there will be a bounce tonight? Or rather in a few minutes here when the market is opened? Don't you think it's a bit overdone? Geez.

    "July Rate Hike View Loses Favor On Stock Drop, Murakami Issue"

    New headlines today!

    Perhaps that's enough to drive it up... Plus short covering, plus bargain hunters, etc.

    what ya think?

  6. Good to see you again, aren't you the guy who was in everyone's face about how bullish you were on the Nikkei at the very top?

    What's the story now bro?
  7. trader99



    Yeah, I was bullish around 17000. I'm still fundamentally bullish. But I also TRADE. So, I got out a VERY long long time ago and just watched. This saved me a lot of pain. Smarter move would have been to short when the new high couldn't be breached. But in hindsight everything is so easy.

    Anyhow, I was a bit brave(perhaps too brave) and got in some last night in the OSE. Ouch! But hopefully, we'll see a bounce here. At least I didn't get in a few thousands points higher!

    That's the kind of mentality one should have. Have a market view, yet be flexible. Market changes all the time.

    As I'm writing this it's seems to still going lower... DOH! Let's see...

    good luck everyone!


    p.s. actually it's bouncing now a little. Not much. :( but i dare not add more since I already bought a few last night. haha. timing is everything.
  8. I'm more concerned about the fact that the US Indexes are lagging (relatively) to the rest of the worlds indexes, yet, we appear to have some serious catalysts on hand to drive the markets lower - much lower...

    In contrast, a lot of traders on this forum are forecasting a more serious decline (including myself) in the very near future. This could a very telling contrarian indicator - an upcoming bounce - possibly... I cannot decide if I'll be putting any of my money behind that idea though :). At least not today...
  9. duard


    This global selling has turned into a bonafide correction. But as you pointed out doesn't seem like we have capitulation. In fact it still seems like even with some rallying at this point the first rally or two will get sold like the SIF's today. Start out buying them and then musical chairs to get out when the realization that it ain't gonna hold.

    Personally I'm lovin' the volatility.
  10. trader99


    oh THANKS to the TRADING GODS!!!

    I was at the skin of my teeth. I need this Nikkei to rally some more.

    whoohoo baby!

    of course the world is not going to end! but it took some cajohnes to get in yesterday.

    #10     Jun 13, 2006