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Japanese Stocks Down Over 2% At Open; Nikkei 16% Off Highs
Despite a pre-open dump in JPY to try and spark some momentum, things are not going according to Abe's wealth-creation plan in Japan right now. The Nikkei 225 is down over 300 points (over 16% from its highs a week ago) and the broader-based TOPIX is down over 2.1% from Friday's close (down 14% from its highs). Topix Bank and Real Estates indices continue to suffer from high-beta-itis (-3%) but the Oil & Gas sector is now being dragged into the mess too (-3.2%). JGBs are rallying only modestly (yields lower by 1-2bps) in light of this decent selloff in stocks. JPY is now at its highs of the day testing 100.4 and JGB implied volatility is on the rise once again. All things considered... not good.
The broader TOPIX index is down over 14% fropm its recent highs led by Banks and Real Estate (and Oil & Gas today)...
But the more tech-heavy Nikkei 225 is down over 16% and suffering worse today...
Charts: Bloomberg
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LOL Abe needs to get it up a lil better ...maybe Ben can help him with a tug.
Fuck these guys. Seriously.
According to Kyle Bass, Japan will be forced to increase QE efforts.
http://www.planbeconomics.com/2013/05/kyle-bass-thinks-japan-will-expand...
F.Y.B.
100 yen says chopstick-save before the close
Nikkei either stabilizes at 13,500 or it goes down more to 12,000.
Sort of like gold: either it stabilizes at 1400 or it goes down to 1050.
They're going lower>
so are we. It's on.
Yields, or forward earnings Fonz?
I think yields may temporarily stagnate but...and I have to admit this goes againt what I had been thinking...yields go UP from here,
As they do, they crush everything in their path. Stocks were only valued relative to yields. Starting with real estate and MBS. I think this JUNE SWOON that I clearly remember someone on here calling it....carries us into fried July.
I'm keeping my mouth shut .
You think yields drop? Tell me i'm nuts. You won't be the first.
I think(that), you're A Man of Valor. Fonz you care. +1
I'll take that. Thanks.
Hey yen, just curious, how long ago did we lose Slewie?
I miss Slewie. May-Be 10 months ago?
I think we are in for a good shot of deflation looking at commodities. I think we hit 1.25 on 10Y before year end.
I was totally in that camp, and probably still should be. Japan ripples however have shown up in our rising yields. Combine that with horseshit tapering and the toothpaste may be out of the tube.
No doubt. I'm not really sure why rates shit the bed in May, the FRB will fight deflation like no tomorrow. I think tapering has been way overblown. FRB would love 3% inflation.
They would love 3% inflation but not in exchange for 3% on the 10yr. That takes the legs right out of this fraud of a real estate market.
Yep, housing is a joke. I agree, rates stay low. Our kids will be talking about QE.
"Our kids will be talking about QE."
In the FEMA camps.
No, comrade. In FEMA Vacation Playlands.
3% inflation? We're running double or triple that rate right now aren't we?
http://www.youtube.com/watch?v=CPXnoLAEUSQ
My guess is we will go sub 1% before its all over.
A big freakin crash will probably bring that. Luckily China's PMI just now showed.....oh boy.....
I've seen quite a few folks claim 1% before year end... I strongly believe (without putting any money in) that the present blip up in rates is purely to shake the stragglers from the train. Periodically, they have to talk up (and sometimes even act a bit) to relieve some pressure from the system... diminishing returns have been setting in faster and faster each cycle as front running the FED is the only game in town. At the end of the day it boils down to this, there is no organic demand for debt given the uncertainty of the present market and there's nothing that monetary intervention can do about it (although, it is desperately going to try, i.e. "I'm going to fuck you until you love me").
Winning!
Bullish!
I mean, "Burrish!"
Watch out below.
Flows are moving away from Europe. Short squeeze in Asia before the final leg down.
Watch the correlations of JGB's to equities....they still seem to be quite negatively correlated. What's it gonna' be Shinzo??? JGB's or equities 'cause it's becoming apparent you can't have both. If you try to have your cake and eat it too you may get perfect correlation with both crashing simultaneously.
Meanwhile gold and silver are headng up.
Ha ha ha ha ha ha ha ha.
Too many things are starting to feel hinky all of a sudden; more than usual.............
Keep stackin' Bit-Chez!
*************
Give em Hell Abe
Liquidity traps suck don't they Abe? You have to do everything you can to save the bond market at the expense of everything else.
Here we are again eh Doc? I think people start getting slapped around from here on out.
I believe you're right. Once they drew the line in the sand at USD/JPY at 101 it was all over but the crying.
PUre morning, pure morning...indeed
With my New York brim and my gold tooth displayed,
Nobody give me trouble cause they know I got it made.
Zig-zag Top rice papers
Nikkei - 2.83 go go godzilla
Mrs. Watanbe want's yield.
yet dow f green?
yet dow f green?
Well of course. Selling Jap stocks to buy US stocks!
U.S. GREEN at Open!!!!!!!
Waiting for another box of "marine parts" at 23$$USD/oz..
Storm passed here in Dover De. Smallest crowd in forever at the NASCAR race = GREEN BABY!!!!!!!! It's a true LEI!!!!!
Green at open, then a little red, then a push to no real change. TOMORROW is tuesday, or have you forgotten the way this works?
So far on track... oh stock market, can you be any less predictable?
Sayonara Bitchez
Someone told me long ago, there's a calm before the storm. CCR
The calm ended on Friday around 2pm.
Just switch back to E/S for the move to 2,000
pomo tuesday will save the day :D
The streak ends tomorrow, sheep sheering cometh. Dow goes red in a big way. This market is on the edge of the abyss, it's a crowded theater and no one knows where the fucking exits are.
Moniker win.
Prediction...? The "Hindenburg Omen(s)" have apparently disappeared in the Bermuda Triangle of the MSBusinessMedia.
Wait....MSBM? That has the apropos Feng Shui somehow...
POMO effervesent Tuesday?
I don't know how much security Abe has, but I think he may want to double it!
Ninja on the lookout
My trade was 2 hours ago.
Hai Sony! Wut? What you say is happening when America wakes up? SHIT. (Yeah, that'd be scary if the Stock Market was actually free! Luckily it isn't, so meh.)
>>>>>>>>>>>>>>>>>>>>>>HuNT THE ALGO<<<<<<<<<<<<<<<<<<<
Top tip: if you're playing an online game, against Bots (especially in EVE) what's to say you're not beta-testing market algos (especially in EVE).
Crowd Control Productions. My old account told you this; I've no idea if this one tells you about Vile Rat, EVE and Libya.
Look: if you want to fuck the algos, they're not using **WORDS** as a trigger. They're using **PATTERNS** around combinations of letters that their programmers weighted. e.g. M I C K E Y - M O U S E You want to crash the market? Work out the triggers and then WORK OUT THE EXACT PATTERN THAT TRIGGERS THEM.
I LOVE MONKEYS
I LOVE <do your shit here>
M I C R O S O F T -- P O S T S -- R E C O R D -- E A R N I N G S.
Yeah, it's a simple crypto puzzle. You grab the same letters, match their kb as the same, make sure the <KB tag etc is identical> and pump the algos with anything you want. I LOVE THE FACT YOU'RE PLAYING A MARKET THAT IS PAPER THIN. And by "paper thin", I mean: FED rumours - algos go "WEEEE". Yeah. You have enough PHDs around, how's about bribing one to fuck it totally? It's really not hard.
Shit, this ain't hard. The sad fact is none of you have the balls to crash it. You want the thrill of the ride. So STFU, or crash it.
Or we will.
Do not short this market...
Until the end of the world.
Seems close. Japan is a pressure cooker for the South China Sea. Russia will make sure that American and it's attack dog (Israel) just stay bogged down in Iraq and Afghanistan, Iran is a non issue unless they attack Saudi Arabia. Nothing major will come out of Syria, Assad will remain control under Russia's guidance. So, the major conflict that is already in a cold war:
http://blogs.wsj.com/chinarealtime/2013/06/02/china-affirms-japan-sovere...
"Disturb the water and catch a fish"
And what the f*Ck will America do? When eventually the UST market collapses? The China conflict is all but inevitable.
And I need a drink and the week hasn't even started...
Nikkei.com main headline:
Nikkei Ends Morning Down On Wall St Loss
See guys, nothing to do with Abenomics, it's purely *WALL STREET* to blame here. Of COURSE we can't blame an overall trend of the Nikkei going down multiple percentage points on a daily basis for almost every day of the past 2 weeks for this morning's decline.
I bet they have the same people/algorithms writing their bullshit for them that Bloomberg.com does
It can't happen here
https://www.youtube.com/watch?v=svdrAHn_LGo
Nikkei officals are furiously dialing 1-800-BER-NANK
Green Shoots!! Going Forward. Yea Haa.
Looks like it's in crash mode to me. Reminds me of 1987. Someone said that the whole system crash would start in Japan maybe they were right.
Tray tables up and tighten your selt belt - gravity is in control...
VIX up.
13282 is in sight - 15% off the high...
This is what happens when you usurp your central bank, and put the country's monetary policy in the hands of a politician. Really weird shit starts to happen.
If this keeps up a few more days I think I'm going to switch from beer to champagne
(and then to canned food and moonshine if it goes on for a few months and begins hitting other markets)
Nikkei 225 is down over 500 3.6% and falling fast.
Long Live South Korea.
The bell rings and the hammer falls at 2 though, right?
2 AM EST yep
Bloomberg only wants to talk Turkey-because Japan is even more ominous.
ECB on Thursday, I shot the gap on aud/jpy, and did well. I'm staying flat, other than some news scalping this week.
June Gloom Bitchez. Is usd going down with ES, or will it become safe haven?
and if the USD does not become the safe haven, what will?
They are pushing those futures up with all their might right now. Those sheep need to be calmed down. Don't want a stampede.