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Spot The Difference
One of these is an overloaded top-heavy vessel afloat on an ocean of liquidity and the other is a container ship.
Chart 1
Chart 2
The relative size of margined buys vs margined sells on the 3 major Japanese stock exchanges was last this high at the very peak of the TOPIX in 1999... The velocity of the momentum-chasing tom-foolery is also just as bubble-like as that period...
and what is perhaps more insightful is that the 22% drop from early May has seen an even more exponential pile-on of BTFD'ers (right hand pane of Chart 2) - we humbly suggest that perhaps the chasers have got a little ahead of themselves this time...
Which one of these charts would you rather be the passenger on?
Charts: Bloomberg
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Forced hands. Lights out under 1000.
see spot run
Run Spot, Run.
The feds have got a gun!!
That container ship is the Rena - pictured off the coast of New Zealand.
That ship stayed aground and proceeded to gradually fall apart into the water.
If you take the same picture today all you will see is ocean and more ocean.
Here's a shocker - Japan opens higher. Until Benny stops his printing, It's all Bullshit!
gold can absorb alot at a high enough price, print FO-ever
The Nikkei is also starting to look frothy again.
With a good dose of alprazalam I would ride either chart.
does this mean we'll never have to see little japanese dudes in purple one piece descente ski suits swooshing the slopes of the canadian rockies? booyah, bring it.
Sorry, they will always be there. If it's any consolation. the suits will be vermilion next year.
well at least they're small enough they only need to buy in the kids department, but i swear next time i see one skiing in the purple herman I'm going to cram my 250 into one and follow him around the slopes all day screaming BANZAI at 150 mph like a crazy man.
Please post video of the event!!
Jan 2014
Chaos
I coulda sworn that ship is called "S&P 500".
It is and every container is a company stock.
Using the image as a segue - what exactly is happening with the BDI? It's trending up again, but still within any moving average I can see. Have they finally taken enough excess capacity out of the system for a while, or is there something else coming into play now? The best comparison is charting against the price of WTI - where they both seem to have caught some support.
Is that my gold being lost in a boating accident again.....
There will probably be fewer sick people on the boat.
Somebody has got to get that market higher or that dancing girl band ain't lifting their skirts.
actually its the MAERSK ALABAMA w/ my LEXUS on it.
A slew of false breakouts. The dip buyers are a little too ambitious. Won't take much (China) to panic Japan again. But they may restrain any major JGB movies after they made a meal of their own engineered liquidity crunch. Fat bids on the DXY, any major moves on the oil price upward will cause the 10 and 30 yr to go higher. Overall a liquidity tight market. Sell on rallies or be warned.
If the US talks of tapering QE again, it will go down accordingly as it throws off Japan/US currency metrics. As Bass says, most foreigners in Nikkie are just macro tourists anyway...they will get up 10-15% and put sell stops in place and then buy back in at a lower price or when Abe annouces more stimulus.