ajtj99's Market Pulse

[chainik]

<rally in Japan was long overdue and still has quite a way to go IMHO>

IMHO the nice and easy (and relatively safe) part is over.

The bright future of Japan has become conventional wisdom.

At the current rate, assets in Rydex Japan will reach 2004 peak in a couple of weeks.

JOF is traded 10% (!) above NAV (who on earth is willing to pay such a premium?).

According to a new piece from Bob, short term target for Nikkei is 12800;
<Since a Flat correction must be taken into account, there might be a volatile lateral movement in the autumn months between 12.000-12.900 points>
This will be followed by a final move to around 14000 and resumption of the bear (at least, that's the way I understand him)

I am looking to close my trading EWJ position