It was a wild ride today in Japan’s Nikkei 225. The close was down 26 points and .21 percent. That doesn’t sound like much, until you take a hard look at the charts. The charts show another day of near total chaos.
The link is here. http://e.nikkei.com/e/fr/marketlive.aspx
You can see a little after one pm Japan time there is a massive Pump Monkey/BOJ infusion of cash to buy stocks. The reason Doomer Doug knows this is simple. The Pump Monkeys start injecting cash at the 12,550 level. You can see the graph line go STRAIGHT UP in a matter of several minutes some 300 POINTS. The rise goes to 12,850 points in a nearly vertical line. And that my dear blog readers, is called MARKET MANIPULATION! Japan’s version of Braying Bernie’s plunge protection team using all the taxpayer supplied money for TARP et al. Take a look at the graph if you think Doomer Doug is not calling it correctly.
You can also watch where the money is slowed down. You can tell this by when the graph starts to go down. Again, it is all right there in front of Doomer Doug’s four eyes. You can see a short time after 2 pm Japan time the Pump Monkeys go start spraying around the fiscal lighter fluid. The graph goes from 12,750 to 13,100 or so. Again, this is a 300 point swing in a matter of minutes. The Pump Monkeys are doing Japan’s version of what Braying Bernie does. Unfortunately for Japan’s Pump Monkeys, at around 2:30 pm it all falls apart. In the last thirty minutes of trading the market loses 225 points to close down at 12,877.
These are market swings in 200 to 300 point chunks that happen in 5, 10 and 30 minutes. This level of volatility is going to destroy the global stock markets. People should also note the Yen is gutting the US fiat dollar. Japan’s exports to the USA are going to increase from 3 to 5 percent based on what happened to the yen in the last FORTY EIGHT HOURS!
We haven’t seen anything yet. The tipping point has not yet been reached. They will have the weekend to ponder all this in Japan. What started out as an economic issue is not becoming a political one in Japan. On the other hand, Fukushima is going to turn Tokyo into a radioactive wasteland soon enough. Doomer Doug likes to focus on what is really important.
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In the US the focus will be on another faked job report. Wall Street may very well ignore what is going on in Japan. Delusional behavior is the norm on Wall Street these days. Still, the smell of fiscal collapse smoke is starting to penetrate even the brain dead zombies on Wall Street.
The real question is how many more days, not weeks, can Japan deal with this level of chaos. The answer is not many more.