This quote from Nick Leeson today was one of the funniest things I have seen this year. I give this quote of the year.
“Nikkei225 at highest level today since 1996 – probably not far off my break-even point. If only they’d waited!!” ~ Nick Leeson. via twitter @TheNickLeeson 11/11/2017
(Pic-www.nickleeson.com) Nick Leeson the original Rogue Trader whose unchecked risk-taking and drive for success caused the collapse of Barings Bank in 1995.
Could this be a weekly double top of the Nikkei?
This is going to be very interesting to see who wins out of the Nikkei and USDJPY correlation. There is a 16% divergence at the moment with the yen on the rise at time of writing. This should be bearish for the Nikkei. Lets see.
We have seen a weekly double top before like this in early 2000 at this very level and it did not end well for the Nikkei with a fall of 63%. Just saying. Lets see.