Posted on 11/01/2009 5:16:40 PM PST by blam
Nikkei (Japan Stocks) Slides On Strong Yen, Wall St Drop
Sun Nov 1, 2009 7:09pm EST
TOKYO, Nov 2 (Reuters) - The Nikkei average slipped 1.3 percent at the open on Monday, with shares falling across the board, hit by a stronger yen and after Wall Street tumbled on weak consumer spending data and renewed worries about Citigroup's (C.N) balance sheet.
The benchmark Nikkei .N225 shed 130.97 points to 9,903.77 at the open before falling to its lowest point in three weeks.
[snip]
The Nikkei is down 2.5% as I post this. See here.
(Excerpt) Read more at reuters.com ...
Bear market rally is OVER!!!
Looks like it is tumbling rapidly as it updates. Maybe this will be indicative of a Black Monday sell off tomorrow?
Looks like it is tumbling rapidly as it updates. Maybe this will be indicative of a Black Monday sell off tomorrow?
Maybe. It was down 2.89% at one point.
This is setting the stage for the Labor Department to release new unemployment numbers on Friday. If the Administration waits until after the markets close on Friday to release those numbers, they will almost certainly be bad news, and we’ll be watching this mess really implode a week from now.
Think the Asian Markets are spooked now?? Give ‘em a couple of days....
Wow! That is quite a comeback... When I last looked Friday, the futures had the Dow down 239.00 and falling. Somebody is holding up this market - just not sure what or who. Maybe the government is buying stock as a backup to its debt...heh.
Monday was what I was watching - going to watch anyway. After looking at the futures Friday, It looked like a black Monday. Maybe things are changing for the better, at least temporarily...
Statistically, down Fridays are followed by down Mondays - but that old saw has suffered a bit in the last year.
A great book for following all of this sort of thing is the “Stock Trader’s Almanac” which is published annually about this time. Lots of great stats and seasonal movements documented, lots of charts and so on. In MOST years, “sell in May and go away” is sound advice. This year, it would not have been so.
CIT just filed for Ch11 so I cannot imagine that this is going to go well
Nikkei down 2.71 percent as of 9 PM Eastern time to 9,762.66
Switched our portfolio to Ts in July of 2007 (early, but hey); Invested back in equities, but with new contributions only, in Oct of 2008. Now, we’re back in Ts as of last Wednesday, just got a “bad feeling” again. It’s a lot more fun watching from the sidelines, can say that much.
TOKYO, Nov. 2 (AP) - (Kyodo)—Nikkei 225 9,762.66, DN 272.08 points Nikkei 300 176.28, DN 4.00 points
TSE Index 1st Section Topix
875.66, DN 19.01 Arithmetic Avg.
246.64, DN 4.39 Weighted Avg.
162.54, DN 3.47 Volume (shares)
929 Million 2nd Section Stock Price Index 2,157.08, DN 14.67 Arithmetic Avg.
175.06, DN 1.56 Weighted Avg.
66.52, DN 0.41 Volume (shares)
63 Million
Actually, nothing is going by the norm this year and probably won’t in the future. The economists are just as confused and you and I are. The upside is that if you don’t get involved, you can’t lose...seems to be the right move lately.
TOKYO - Tokyo stocks plunged below the 10,000 line Monday morning with investors perturbed by renewed signs of pessimism about the global economic upturn and uncertainty about a full-fledged recovery in the Japanese corporate sector.
The 225-issue Nikkei Stock Average lost 272.08 points, or 2.71 percent, from Friday to 9,762.66. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 19.01 points, or 2.12 percent, to 875.66.
The Japanese Stock Market was at nearly the same level as the Dow back in
February
then it started to pull away
since mid february
The Japanese Stock Market vs DOW
feb 18...Nikkei.. 7534..dow 7555... Both the same!
feb 23...Nikkei.. 7376..dow 7114
feb 26...Nikkei.. 7457..dow 7182
mar 04...Nikkei.. 7290..dow 6875 Japanese up 400 points
mar 05...Nikkei.. 7215..dow 6594 Japanese up 600 points
..................7173......6626...
Oct29....Nikkei...9891..dow 9762 Japanese up 129 points
and now its falling near the same level as the DOW again, what do you make of that? I ask because I was believing that Japans economy was stronger than ours.
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