Asia morning brief: Fri 29 April 2016

Good morning, instead of FANG stocks in 2015, we might be looking at LEAF (LinkedIn LinkedIn earnings,  Expedia Expedia earnings, Amazon Amazon earnings & Facebook Facebook earnings ) now in short term where they all spiked more than 10% on better earnings & outlook.  Yesterday’s BOJ meeting that didn’t come out with anything new seems so distant now as $/JPY came off in jiffy from 111.55 to 107.36 with NKY from 17555 to 16120 presently.  While Japan is still mired in finding a sustainable solution to its problems, I’ve taken off all my shorts established in $/JPY & NKY as discussed earlier in week where we were clearly at the higher end of the range in our new bi-modal distribution world where prices gap between the 2 nodes and we’re now at the lower end node.  However, I’ve established shorts in Dow futures at 17950-970 past 36hrs before BOJ & added last night at 17910-30.  This is in addition to a broken put fly in S&P500 May20 expiry 2025/1975/1950 where it make sense for a 5-6% correction lower post earnings as players head towards summer in cleaning the deck.  Also managed to buy some GBP/AUD cross at 1.9050-65 yesterday in the correction lower from 1.9230 .. something that I was recommending looking at 1.8830 before the sudden poor Australia CPI figures 2 days ago caused the sudden spike higher &  1.97-1.99 looms next in GBP/AUD!


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