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Soultrader

Market Continues to Get Spanked

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Another warning today... Nikkei is extremely weak breaking out of its morning range downwards. Roughly 750yen difference from its close yesterday.

 

Its pretty bad.... the markets are taking an ass whooping. One interesting thing is that since price traded within a tight range for most for the day, value area is still in the upper half of the daily range. Usually I would develop a long strategy for the following day... but situations are different and there is a big degree of fear in the markets.

 

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Usually I would develop a long strategy for the following day... but situations are different and there is a big degree of fear in the markets.

 

I think that perceptions of value are so unstable that value is difficult to trade right now. Where is it, really?

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Interesting quote here:

 

"Greed and Competition are not the result of immutable human temperament... greed and fear of scarcity are in fact being created and amplified... the direct consequence is that we have to fight with each other in order to survive."

 

-

Bernard Lietaer -

Founder of the EU Currency System

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Nikkei gaps down over 1,000 yen today temporarily halts due to a limit down.

 

Ive never seen anything like this before. Here is an quarterly chart on the Nikkei... look at where we are, close to the bottom of the last collapse of the Nikkei.

 

But there is definitely a difference in investor emotions. The situation is alot different compared to the previous crash.... as if we are immune to this or since we have seen this before people are not too worried. Though many businesses are going belly flop, banks are still strong here with minimal exposure on the subprime crisis. Though some banks got hurt by lending to Lehman... Any thoughts?

 

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Ive never seen anything like this before. Here is an quarterly chart on the Nikkei... look at where we are, close to the bottom of the last collapse of the Nikkei.

 

Check out this Spoo chart. This is un-freaking-believable, we've almost done in 1 year what it took 3 to do the last time, and that time we had 9/11!

 

I look at this chart and I know I'm a trader because it actually induces an emotional response now.

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Check out this Spoo chart. This is un-freaking-believable, we've almost done in 1 year what it took 3 to do the last time, and that time we had 9/11!

 

I look at this chart and I know I'm a trader because it actually induces an emotional response now.

 

Yes you have to say it's not even showing signs of climactic action...

At this rate we could even shoot past the 2002 lows. Who would've thought that, one month ago?

 

I don't listen or read what others think usually, but this is an interesting observation, for everybody who considers himself a contrarian:

 

http://www.marketwatch.com/news/story/bottom-still-come-says-one/story.aspx?guid=B344F30B-1D0E-4874-98ED-96602A1B4EC7&dist=SecMostRead

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Yes you have to say it's not even showing signs of climactic action...

At this rate we could even shoot past the 2002 lows. Who would've thought that, one month ago?

 

I don't listen or read what others think usually, but this is an interesting observation, for everybody who considers himself a contrarian:

 

http://www.marketwatch.com/news/story/bottom-still-come-says-one/story.aspx?guid=B344F30B-1D0E-4874-98ED-96602A1B4EC7&dist=SecMostRead

 

Good read, thanks for this fw. I also do not think the bottom is in place just yet.

 

My mistake at the moment is my own ignorance of currencies.... should of transferred all my USD into JPY months ago.

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Interestingly, the S&P hasn't really lost that much when we compare it to other global markets:

 

Oekraine (PFTS index) -73,05%

 

Iceland (Iceland 15 index) -71,07%

 

Servia (Belex 15 index) -68,5%

 

Romania (BET index) -66,33%

 

Bulgaria (Sofix index) -65,88%

 

Russia (RTS index) -60,49%

 

China (CSI 300 index) -59,13%

 

Ireland (Irish Overall index) -58,83%

 

India (Sensex 30 index) -55,07%

 

Turkey (ISE 100 index) -53,85%

 

Belgium (Bel 20 index) -49,09%

 

South-Korea (kospi index) -48,97%

 

Germany (Dax index) -44,31%

 

France (CAC 40 index) -43,26%

 

UK (FTSE 100 index) -43,03%

 

Japan (Nikkei 225 index) -34,69%

 

US (S&P 500 index) -33,61%

 

Switzerland (Swiss index) -30,41%

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Wow, weird considering that the the dax has fallen quite a bit over the past hour

 

EDIT: just read your post again, missed the 'limit down' part the first time round....

 

Looks like the dax is going to break the 4k figure at this rate, its free falling.

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Last couple of week's economy of any country is really bad. Due to this bad economy most of the people in my country have lost their jobs. I really feel bad about it.

 

What is your definition of "most people". Most to me would mean more than 50%. Are you saying that more than 50% people there lost their jobs? That sounds like a stretch to me.

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