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APAC 15th February 2021.

Monday and we are back to the old ramp in thin liquidity trick. Bit obvious, but when it’s the buyside no one protests.

Funny that, yet they’ll demonise short sellers.

Anyway, we started weaker, and recovered as the cash opened, and there was a bit of positive movement from the US and Nikkei. That slowly but surely increased, and dragged us higher. You could hear the objections from the fundamentals traders but no one was listening.

A few small pullbacks as the Nikkei jostled around, but it was going higher, and come 11am takeoff it did. Moved higher strongly, and the US futures were forced to follow. Both up strongly by 11:15am. Oddly, some slight Yen weakness, and gold and silver were higher, silver by 1 percent. BTC obviously was strong (most from the weekend).

We hit a level and couldn’t find another gear, so relaxed down. Settled to ranging at those highs for the rest of the day. Active selling, which was also joined by passive selling. Yet that changed mid afternoon as buyers must have seen the Nikkei hit an all time high and think why not.

The Nikkei was up 1.3percent, US futures up 0.3 percent. We sold off into the 4pm close, then more strongly into the 4:10pm final cash close as expected.

Even tweeted away some obvious binaries for that expiry. Free trades free money on the money.

Charts are better to see the day. Passive is a bit wonky as it cuts off the... (More)

Kazu Williams
Staff Research Associate

Konica Minolta Inc (Ticker: 4902)

I like Konica Minolta since the dividends are around 5%.  I got in at 270Y and hope it'll reach back to the 1100Y.  I've been taking the dividends and reinvesting back into 4902.  Take a look and let me know what you think . 

-Kazu

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Weston NakamuraVisionary
Real Vision Exchange Manager, Programming and Community Engagement

0.07%, not even close to the original ± 10bps of the OLD one let alone the new range. 
and when the time comes, yes, obviously they will crush anyone who has less than ¥unlimited 

Japan's 10 year bonds.  Is this signalling a shift, or will the BoJ crush the shorts?
Weston NakamuraVisionary
Real Vision Exchange Manager, Programming and Community Engagement

Long SoftBank Group (🇯🇵9984, 🇺🇸SFTBY)

Holding Period: 300 years (as per Masa Son’s 300 year plan, or “guidance“)

Thesis: Because enough is enough. It’s now been almost 3 years (11 straight quarters) of me waiting for “a better entry price” and long NOTHING (trade calls here& there) and if I don’t own something before it breaks ¥10k (which it will at the open tomorrow) then I don’t belong in this world. shares +4% today before earnings after close, currently additional +8% aftermarket, a bit over $1 away from ¥10,000 mark. Had a chance at ¥3k, ¥4K, ¥6k, ¥8.5k. And nowI’m gonna end up paying >¥10k quarter century highs, and highly probable I’ll be the top tick fill before sudden global equity kneecap hit -40%. NKY (for which softbank is 2nd largest heavyweight) also just cracked 29,000 mark today on volume- both single stock and index chasers momentum behind it. Mother ffff....ck

Ok real thesis: Softbank just absolutely crushed Q3 (ending Dec20) earnings. had to check and re-check several times and several sources to make sure an extra 0 wasn’t tacked on. If you want to play a combo of long Japan equities (most upside potential among global DM) + US/global tech ”ETF” kicker that still trades half x book- go long softbank. Best & most liquid instrument if you want general equity market upside: mix of value, momentum, tech VC + tech hedge fund exposure wrapped in one

Q3 Net Income: ¥1.17 trillion (11 billion USD) vs analyst estimates ¥98.6 billion (980 million USD)... (More)