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Old 05-24-2009, 10:53 PM   #1

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North Korea Conducted 2nd Nuclear Test
Article here: http://www.koreaherald.co.kr/NEWKHSI...0905250080.asp

Market reaction was severe, Kospi dropped more than 6 points in 3 minutes. Luckily I was positioned short... took in over $2k in less than a minute. Bids disappeared instantly... I think the market may have skipped over 1pt on the decline. Never seen anything this fast on the Kospi.... without stops this market can kill you.
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Old 05-24-2009, 11:01 PM   #2

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Re: North Korea Conducted 2nd Nuclear Test
Chart of the Kospi one minute chart.
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North Korea Conducted 2nd Nuclear Test-kospi-tanks.png  
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Old 05-24-2009, 11:09 PM   #3

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Re: North Korea Conducted 2nd Nuclear Test
Whats interesting is that non of the non-Asian news channels show this still. CNN apparently is still reporting an earthquake at N. Korea: Earthquake shakes North Korea - CNN.com


Perhaps the next time you hear about an earthquake in N. Korea go short the Kospi... could be a 3rd nuclear test.
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Old 05-24-2009, 11:31 PM   #4

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Re: North Korea Conducted 2nd Nuclear Test
Even with stops, the slippage would have been large it sounds like! Glad to hear you were on the right side of this. Lady luck is shining on you.

All my best,
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Old 05-25-2009, 01:24 AM   #5

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Re: North Korea Conducted 2nd Nuclear Test
Good point MK, that would be a nightmare situation for me. No way of preparing for it, and no way of knowing how much that slippage is going to cost you. Good to hear that you happened to be on the right side of it though James.

Also, just found this: http://www.cnn.com/2009/WORLD/asiapc...ref=rss_latest
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