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No matter how good things can be, mkt and stocks will never go one way... just like a marathon runner, he also have to slow down for drinks or catch a breadth to pace himself to finish the whole 42km.
No worries, as I have been saying - this is a complacency building phase, the short and sharp is inevitable and it is definitely better than the slow rot.
Policy makers will also be more carefully with their comments so that they will not rock financial markets unnecessary to further shaken fragile consumer sentiments.
conspiracy theory...
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Now is confirm bear, but the bear still burning the forest and can only see its shadow... its it baby bear? (5% drop) Big bear? (10-20%) or MEGA bear? (50%)
Japan Stocks Plunge Most Since March 2011; Nikkei Futures Halted
2013-05-23 06:13:06.117 GMT
By Anna Kitanaka and Toshiro Hasegawa
May 23 (Bloomberg) -- Japan’s Topix index tumbled almost 7
percent, the most since the aftermath of the March 2011 tsunami
and nuclear disaster, as financial companies plunged amid rising
bond yields. The rout triggered a halt in Nikkei 225 Stock
Average futures trading in Osaka.
Consumer lenders lost 11 percent to lead declines among the
Topix’s 33 industries. Mitsubishi Estate Co., the country’s
biggest developer, slid 9.3 percent. Mitsubishi Motor Corp.
dropped 14 percent, falling a second day after advancing more
than 50 percent in the previous three days. Tokyo Electric Power
Co. plunged 13 percent.
The Topix lost 6.9 percent to close at 1,188.34 in Tokyo.
Even with today’s decline, Japan’s broadest measure is still up
almost 40 percent for the year. Japan’s 10-year government bond
yields touched 1 percent today for the first time in a year
after Treasuries slid on speculation the Federal Reserve will
curb stimulus.
“Rising interest rates is the story today,” said Tomomi
Yamashita, a fund manager who helps oversee the equivalent of $5
billion at Shinkin Asset Management Co. in Tokyo. “There’s also
a lot of profit taking going on. When volatility is high, then
investors want to take off risk and move away from risk
assets.”
A measure of share swings surged to its highest in two
years. The Topix’s 50-day volatility rose to 28.8, the highest
since May 2011, according to data compiled by Bloomberg.
The Topix and Nikkei 225 Stock Average have risen more than
40 percent this year, outperforming all major equity indexes
amid unprecedented Bank of Japan easing. The Topix trades at
about 1.4 times book value, compared with about 2.5 for the
Standard & Poor’s 500 Index and 1.7 for the Stoxx Europe 600
Index.
JGB Yields
Yields on benchmark Japanese government bonds rose to meet
1 percent for the first time in more than a year, while a plunge
in the securities’ futures prompted a circuit-breaker halt.
The Bank of Japan injected 2 trillion yen ($19.4 billion)
into the financial system today to stem volatility, as benchmark
JGB yields swayed the most since the day after the central bank
announced unprecedented bond buying.
The yen rallied, snapping a two-day drop that took it to
the weakest in more than four years, as Japanese shares extended
declines.
Exporters fell after a Chinese Purchasing Managers’ Index
fell to 49.6, according to preliminary data released today by
HSBC Holdings Plc and Markit Economics. That compared with the
50.4 median estimate of 13 analysts surveyed by Bloomberg News.
A reading below 50 indicates contraction.
“Investors are concerned that a deterioration of overseas
economies will hurting earnings for Japanese companies,” said
Ayako Sera, a strategist at Sumitomo Mitsui Trust Bank Ltd.,
which has the equivalent of $325 billion in assets. “That’s
fueling risk-off sentiment.”
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I think the bond mkt correction could get quite severe. I know quite a few supposedly savvy hnwi who have leveraged to buy bonds... They have done great but now it will be tricky.
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(23-05-2013, 03:46 PM)godjira1 Wrote: I think the bond mkt correction could get quite severe. I know quite a few supposedly savvy hnwi who have leveraged to buy bonds... They have done great but now it will be tricky.
should prob buy some usdsgd as a hedge if need be - SOR rising is perhaps the biggest concern for these leveraged blokes.
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(23-05-2013, 03:39 PM)Temperament Wrote: (23-05-2013, 03:27 PM)NTL Wrote: (23-05-2013, 03:05 PM)Temperament Wrote: If it is any help go and read Quote:6 reasons science will not make you a better investor
What will remoras do when the water gets stormy? Likely they will take some wounds, hide, wait for storm to clear, look for the next shark, then go ride with it again!
Well put. No one! Yes! not even WB can escape some wounds from time to time. But remember a recent posting in this forum, his capacity to take pain from the wounds is so much greater than anyone in the world. If you can take just a little pain, i think you should be alright.
Anyway which "warrior" can survive without the ability and capacity to take pain?
Actually, I have been waiting for this sales for a long time... but its not sales time yet in my opinion... Many have run up too high, but I am reallly drooling at LKH ... Must endure... No offence, value investors are not afraid of crash, think most forummers are looking forward to it, think only with multiple crashes or whammies will value investors get shaken...
just my opinon, sorry if i sound like rubbing salt on ppl wounds...
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(23-05-2013, 03:49 PM)Greenrookie Wrote: Actually, I have been waiting for this sales for a long time... but its not sales time yet in my opinion... Many have run up too high, but I am reallly drooling at LKH ... Must endure... No offence, value investors are not afraid of crash, think most forummers are looking forward to it, think only with multiple crashes or whammies will value investors get shaken...
just my opinon, sorry if i sound like rubbing salt on ppl wounds...
Reason why I asked if it's an opportunity to up the stake.
Patience is a virtue.
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now Bernanke can justify a prolonged QE.
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Tomorrow is public holiday, so traders close their position before the long weekend?
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Bernanke only can prolong his QE until this August if i am not wrong. Then most probably a lady will take over. So maybe the next phase of "Roller Coaster Ride" will begin. i wish i could know what the lady going to do next. Who knows? Who can tell? God bless us all. (Sorry, my apology to all non-believers).
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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anyway now cash is king
those people who bought on margin sure will kanna margin call on monday (since tmr is holiday)
hope everyone have a good long weekend
next week will be the real show, see baby bear can be tamed or not
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