Tuesday 28 May 2013

Nikkei hit a block at 16000, we got it inch perfect right!

Dear Friends,

On the 17th May, we wrote an article indicating our view on nikkei index. We mentioned that nikkei will hit a deadly cliff at 16000! I mentioned it on Radio 958 when interviewed by Di Cong.

Our article: <<Nikkei breaks 15000, but 16000 is DEADLY CLIFF!>>


On the 13rd May, Nikkei hits highest during mid day at 15942 before dropping 1000 points!!!

Today Nikkei is at 14612. What a big drop to the best performing index in Asia. It was still powering forward when I wrote the article.

So what will happen to this index? We feel that it might consolidate for a while. 16000 is a difficult barrier to exceed, even with all the QE promises and the popular "Abenomics" method. It needs a rest.

However as the index drop so much these few days, we feel that 13600-14400 might be a good point to enter for some short term gain. At 13600, you might want to seriously pick up some Japanese stocks.


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