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Author: raytoei Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 9  
Subject: stalking ewj Date: 5/7/2004 11:03 AM
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Like a salaryman in a seedy part of shinjuku, i put a limit order at 10.00 last nite(i'm exactly 12 hours ahead in asia) and stalked after my prey, the iShares MSCI Japan Index, aka. EWJ.

it had closed the day before at 10.43, and i sensed that the general market was looking for a reason for a sell-off. And I bet it had nothing to do with interest rates, oil prices whatever, but was "simple due to short-selling and dumping of speculative positions" as my informer J.Krupansky wrote.

And EWJ would not spared of the blood bath, it opened at 10.12. Down 2.5% and dropping. The pace quickened at 11:20pm when EWJ dropped to 10.06, should I drop the limit order and just pull the market order trigger, the last time it dropped this low was on March 16/17th, at the start of the last upward curve ? No. Wait. It makes the tasty agedashi tofu all the more satisfying when the wire is tripped.

It was not too be. At 2am, I was too bleary eyed to stare at the screen, sometime at 2:43am, EWJ crept up to 10.13 and stayed there until the closing at 10.10

raytoei
who used to own chawanmushi.com
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