Did The Nickme Just Double-double Bottom?

[Goldmember]

Has Japan copied Central Banking Book? Uncle Al offering lessons to his Japanse counterparts. Check out last Friday's intraday "w" and 6-month chart. Is it worth buying this? :shocked

 

Have to find an Intraday Chart for the Nickme. Last Friday was a message. A manipulated one but a message nonetheless.

 

 

 

 

[Guest]

Glad, your charts will be more easily readable if you use the StockCharts option that places price labels at the significant highs and lows. To turn this feature on, check the checkbox named "Price Labels" (just beneath the drop listbox that selects the size of the chart). I took the liberty of doing it for the charts you posted; I hope you don't mind.

 

Regarding your question - the Japanese stock markets are even more heavily manipulated than the US ones, unbelievable as it sounds, so nothing would surprise me there. I'd stay away from it, too.

 

Regards,

Vesselin

[Slothrop]

Does look like a bottom though. Slowly rising MACD on each dip down.

[Goldmember]

Exactly, Vesselin. Last Friday's session was the most blatant after lunch "w" and promptly rose off it. Bears watching. I still can't find a very short term chart that displays that action.

[Guest]

The Japanese Bankers suck at TA. They don't make their double-bottoms like our powers that be do. Ours have a nominally lower second bottom...to entice just enough shorts to short on confirmation before busting them to the upside

[Guest]

Examine if you will, the October lows.

 

We retest Dow 7400. No action from the FEED. No action. No action. Then we break 7400...to 7198 intraday, hammer bottom and the FEED comes roaring in.

 

http://app.ny.frb.org/dmm/historicalmkt.cfm

 

The FEED played possum...let the shorts have their lower low and then SLAM! Notice the string of "no actions" just as the Dow was about to break 7400 as if the powers that be WANTED the Dow to make a nominal new low as opposed to an exact double-bottom.

 

Now THAT is diabolical. Very clever indeed! The Japanese bankers don't bother to entice the shorts before jamming. Their central bankers can't read the tape like Mr Greenspan can.

[Goldmember]

Yeppers! Entre you pegged it perfectly. Machinehead bought it up hand over fist and prospered very nicely. The big question remains do we buy Japan, at the least for an explosive 4 week rally, right up to falling bombs around then. I really hate to see good longs but when they present themselves...............we have to buy it.

 

Stoolie Scully posted some interesting long term projections on the Nikkei and his models showed the Nikkei detaching from U.S markets on the daily noise front and off to the races the Nickme goes as the U.S. DOLLAR drops. Gold may well be signalling the same thing. Sure there's stilla whole load of crap happening there but crap is EVERYWHERE, and as the Bank of Japan buys up crappy leftover stock held by the commercial banks, well timed actions in the soon to accelerate currency devaluation game could finally position Japan for a fresh start a whole lot sooner than the string pushing here will ever accomodate. The Japanese do have money to put to work, especially repatriated U.S. holdings, which will have to find a home. Scully's work should recieve any kudos should this prevail. It was HIS work that kept me looking at the Nikkei. Machinehead has brought this to our attention as well.............hmmmm wonder if he's buying.......

[Guest]

So basically, avoid falling wedges making nominal new lows just before an option expiration like the plague. That and the double-bottom are Greenspan's two favorite chart formations to jam.