Nikkei IHS forming...

Discussion in 'Trading' started by ASusilovic, Aug 5, 2009.

  1. Left shoulder 10435, head 10490, right shoulder 10445.

    Short target at least 10195.00 - at least I hope so...:)
  2. Sometimes, you need to be lucky. Movement's low was 10190.00.


    By the way :

    6975.00 + 50 % = 10462.50.

    10.600 ? Overshooting the target...
  3. They will announce more stimulus to destroy the formation.

    Whoooooooooohoooooooooooooo to a government run market!
  4. The Japanese find every reason to sell their stocks. Dow up +1 %, Tokyo flat because of "strong" Yen...
  5. The same "strong" Yen story that caused their market to sell off day after day last year?
  6. its probably a combination of factors. Foreigners have lost their love with the Japanese market long time ago. Contrast that with South Korea. Foreigner have poured fresh capital into the Korean market and that is reflected in the performance spread between Kospi and Nikkei over the past months.

    One reason for this in Japan is the recent election results and rhetoric from MoF and the sometimes complete lack of vision by Japanese bureaucrats and politicians. There is a reason why pretty much every dealing and trading desk has left Tokyo last year for better pastures in HK: Better efficiencies, tax savings, ....Tokyo has lost forever its prime status as Asian financial hub. What is left are the Japanese mega banks and "representative posts" of the foreign brokerages, not much more than skeletons. The rest has moved to HK.

    Obviously the strong yen does its own to hurt this export focused nation.

    Japan has to urgently re-invent itself. The pride of a lot of politicians and people in society is absolutely misplaced. It may be shocking to some to hear this but Chinese are right now the ones invading in hordes shopping malls and the Ginza's of Japan because its so much cheaper to buy in Japan rather than at home in Shanghai. Sounds ridiculous? Well, its true. The buying power is completely reversing right now as we speak.

    Japan can re-invent itself and will ultimately prevail again but for the time being people are still blinded and are content with their daily drinking parties after work. It simply still does not pay to put in extra effort or initiative, it rather harms ones career to step out of line. Financial markets, however, reward risk takers and those who innovate and think outside of the box. Simple as that. Its gonna be a painful process for Japan to rethink but they gotta do it otherwise they will become another Chinese province in 10-15 years.

  7. Nikkei unimpressed by Alcoa numbers. And down we go again...