Doomer Doug spent last night posting at Timebomb2000.com during what can only be called total market chaos in Japan’s Nikkei 225.
The market low on Friday was around 14,000 points. The market high was around 15,000 points. THIS IS A 1000 POINT SWING IN ONE TRADING SESSION!
In the first part of the session the Nikkei went up around 3 percent. In the first two hours of the afternoon session it went down around 3 percent. In the last HOUR of the afternoon session a truly amazing thing happened. If you look at the graph you will see it looks like a drunk using an etch-a-sketch. The graph circles around for one half hour. At precisely one half hour before the 3 pm close it spikes up some 400 points. The eventual close was .89 percent up from the market open.
Japan’s Nikkei Stock Market is not designed for this level of near total chaos. No stock market in the world is designed for this level of market volatility.
It will be interesting to see what happens when the market opens next week.