December Nikkei 225 futures dropped 790 points in Chicago today to settle at 8,215. Minutes ago in Singapore, N225 futures gapped down 465 points to 8,200 and futures in Osaka fell 440 points to 8,220. Intra-day in Chicago, the low was 8,080. That leaves just 450 points, another sell-off, from hitting the once unthinkable low [...]
Archive | October 22, 2008
Gains unsurprisingly erased in Tokyo; patient buyers needed
Japanese stocks “rallied” a spectacular 14% last Tuesday, but in spite of that (and being surrounded by massive days of selling), I lacked the broader market’s bullish conviction and explained why in “Trying not to rain on the Tokyo stock parade.” Overnight, the Nikkei sold-off about 6.8% to fall back below 9,000 again to 8,674, [...]
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