Nikkei Dives Again, Kissing Goodbye To 8,900

The Business Insider ^ | 8-24-2010 | Joe Weisenthal

[blam]

Nikkei Dives Again, Kissing Goodbye To 8,900

Joe Weisenthal
Aug. 24, 2010, 8:17 PM

Yesterday Japan's Nikkei sliced through 9,000 and in early Wednesday action, it's taking out the next (albeit less memorable) milestone.

Goodbye 8,900.

Image: Nikkei.com

Presumably somewhere there's a rumor or a wire report about yen intervention by the BoJ but that's just a guess.

The actual big news of the evening is the Irish sovereign debt downgrade form S&P though in terms of actual effects on markets, it's not obviously having much of an impact. US futures are actually a touch higher than their previous close.

For a recap of trading action in the US on Tuesday, see here.

[snip]

[blam]

The Nikkei Is down 1.0% as I post. See here.

[GunningForTheBuddha]

Going to be a morning bloodbath in the States?

[blam]

"Going to be a morning bloodbath in the States?"

My expectation is that the Dow should be down with all the bad news...but, I'm usually wrong.

[Lib-Lickers 2]

there goes my investment mutual funds

[Diana in Wisconsin]

Ron Paul wants a Gold Audit...but he ALWAYS wants a Gold Audit, LOL!

What say you? Think we’ll ever see that in our lifetime?

http://www.kitco.com/reports/KitcoNews20100824DC.html

[NeoCaveman]

Going to be a morning bloodbath in the States?

Hindenberg Omen says "probably"

[silverleaf]

Can’t you move them to money funds as a safe harbor?

People who did that in 2007/early 2008 preserved a lot of their capital

Buy-and-Hold strategies do not apply with men like obama, summers and geithner in charge of the US economy

[Mad Dawgg]

'Hindenberg Omen says "probably"'

And as always the Obama Wall Street Coaster is headed:

DOWN!!!

[blam]

"Think we’ll ever see that in our lifetime?"

No.

[blam]

The Stock Market Crash Hindenburg Omen, Omen-ous or Not?

[hinckley buzzard]

No reason to expect a bloodbath. Dow futures are up a few, but at this point that means nothing. I would expect minor movement today, one way or the other, testing the 10K mark.

[Ripliancum]

Buy-and-Hold strategies do not apply with men like obama, summers and geithner in charge of the US economy

---

That's what FAZ is for.

[TexasNative2000]

Dipping below 10,000 again so quickly (relatively) after having done so recently would seem improbable; however, improbable is the new normal.

[cmsgop]

What happened to my greenshoots!

[snowsislander]

Presumably somewhere there's a rumor or a wire report about yen intervention by the BoJ but that's just a guess.

The BOJ reports at the end of each month its currency interventions, so if there has been any recent activity, the report should be out in about a week.