Japanese bull market over
- Thread starter GlobalFinancier
- Start date
Japan stock screener http://capital.jp/search.php
can deal (at 2x commish) at http://home.boom.com.hk/index.html. May be on the cards through IB.
Data is an issue, Reuters Bridgestation carries all exchanges.
HTH
can deal (at 2x commish) at http://home.boom.com.hk/index.html. May be on the cards through IB.
Data is an issue, Reuters Bridgestation carries all exchanges.
HTH
Although it took more time than I thought, EWJ is now retesting 14,30 (low was at 13,17 in January and at 13,19 in February and March).
I see high positive correlation between Japanese stock market and gold. The reason is probably that the global inflation pressure now comes from Japan, and gold is pure inflation play.
That's why I think both Japanese stocks and gold will breakout of their trading ranges, eventually.
Would be interesting to hear colleagues' thoughts...
Nikkei closed at 4 1/2 year highs above 17,000 resistence barrier for the past two days.
I too have been watching the close correlations between Japanese market indicators and gold. I feel it has to do with the excess speculative liquidity that exists in the world and is available for investments into things that provide returns. That these two asset classes have taken off is just coincidental really. They were both considered undervalued when the shift in investment psyche was taking place. Money flowed in and they appreciated. Alot of the money is coming from the same community of fund managers, investors and pro traders.
I'm even more bullish on Japanese markets than on gold and the reason is that the average investor in Japan hasn't woken up and increased them investments in their own market. They have alot of money available for investing and their either have it stashed away at 0.3% interest in a postal savings bank account or are buying foreign denominated uradashi savings bonds in currency like New Zealand dollar, Aussie dollar, Brazil Real, South African Rand, and etc. Eventually I see them reading front page articles on the climbing Nikkei and getting excited about the good old bubble days and forgetting their fear of a poor economy.
The Nikkei is ready to climb a bit further and test upwards to 18,500 over next weeks and months. Gold seems to be ranging a little bit further. I feel like the correlation might weakening between them now. It is going to be an interesting week!
Quote from GlobalFinancier:
Seems like I was wrong about the Japanese market being bearish. The market scores one against me...
Anyways, at elitetrader, it seems listening to the majority makes more sense... only do contrarian stuff with average joes
This was posted a long while ago, I turned NEUTRAL back then. Yup, I was wrong, but I admitted it, got out of it, and am NOT being squeezed into bankruptcy
Next time before you give in to your ego and starting yelling this or that and walking away with a happy face like a kiddo out of McDonald's, please check to see if your premises actually EXIST.
