Fucking A - last night had a small position on before the news -- went to yoga came back -- saw the eruption -- exited everything cash/futures @ ~ 85. That was the markets christmas gift to me. Havn't had one of those in a while -- usually its the other way around :]
Lucky. I was on the other side. Took some lumps. Goes to show the importance of being nimble in this market. Fear the CB.
The BoJâs supposed Y10,000bn âintervention war-chestâ is also small compared to the amount spent in Japanâs last major intervention, in early 2004, when the central bank sold a record Â¥14,831bn ($171bn) over 47 days, according to Ministry of Finance (Mof) figures. Still, as one broker observed, the amounts said to be involved â and the impression of new resolve on the part of Japanese officials, after weeks of dithering and hollow pledges â have for now got the best of speculators: âDonât expect the hedge-funds to fight the tape against that kind of firepower at this stageâ, the broker noted.