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Hi Yuki,
Thank you for sharing your analysis with the rest of the board members.
I'm just curious but do you trade in Japanese market? If so, how do
you make Amibroker work with Japanese market with codes, rather than
symbols?
Regards,
intermilan04
--- In amibroker@xxxxxxxxxxxxxxx, Yuki Taga <yukitaga@xxxx> wrote:
>
> By my calculations, Japan has officially entered a correction phase
> today.
>
> The last time this happened was early October, and it only lasted
> about 11 bars. This might be steeper, but might not last any longer.
>
> Cap gains on equities in Japan -- regardless of holding period -- for
> those of you that do not know, were slashed a few years ago to a flat
> 10 percent. This was to try and prop up a market that was threatening
> to jump in front of a train. Moreover, there was a period where you
> could buy and pay NO capital gains if you held until ... guess when?
> ... this year.
>
> From January, cap gains will double. Needless to say, there are a
> tremendous amount of paper profits that would probably like to get
> taxed at this year's rate, rather than next year's. And there is no
> "wash sale" rule (and even if there was, this is a gain, not a loss),
> so they can get right back in very quickly.
>
> So, it might be another 11 bar correction or so. The last trade date
> for settlement this year here is December 27, settling on December
> 30, which will trade only in the AM session, then close until January
> 4th, which will also trade only an AM session.
>
> This is an FYI only, and I may be totally wrong. But I would not
> want to own any substantial amount of this market for the next week,
> at least.
>
> As I write this, we are in the PM session on Thursday, and it is
> incredibly volatile, and we are currently minus about 0.8 percent
> basis both the big indices. All I can tell you is that someone is
> selling a huge load of futures. Yesterday, Nikkei 225 futures for
> March traded 149,000 contracts in Osaka. I have never seen a larger
> number, I believe. Prior to August, 40,000 contracts was a typical
> day. That has become 70,000 or 80,000 since then. We will easily
> surpass 100,000 futures contracts again today.
>
> Again, just an FYI, and I certainly would not try to short here. But
> nothing goes forever without at least a pause or a shakeout, of
> course.
>
> Yuki
>
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