MARGIN MONDAY
CAUTION. BoJ repo action will not be enough. Don't confuse ECB, BOE and FED "Speak" with "Action". IMO we will get a lot of speak and no action until later in week. BoJ action is to"soft-start" markets. Positive open, which will fade into more selling. LOWER LOW
Markets opened Sunday night solidly in "risk-off" mode. The BoJ announced they would 500B Yen repos and every risk market around the world took off.
Is that all they need, or do they expect the BoE, the ECB, and then the Fed tomorrow morning to follow suit?