Lets get it right, you said that Japan is going to go to dogs as the banking system will collapse, I said no that is not right, BOJ and FED are in bed. You got your bear moves which took and saw DOW intraday low of 9100, I played Japan on the long side on that dip you said this is going to go much lower, you were absolutely ...wrong, market had build in that 'crash scenrio' that night when I said Japan will rally..unfortunately for you that crash happened in form of a melt up, what do you think about this 22% move in a weeks time? remember what I told you that 'countries that have current account surplus in FX rarely go bust', ASEAN contagion the route cause was flight of the hot capital, in Japan 'hot capital' does not fly, it is owned by them, the whole idea that some floated and you susbscribe was that Japanese Banks will need to liquidate assets to provide support to their home base, but with 0%
rates, the last thing Japanese need is this. So far on Japan you have been totally out of sync very soon you will see that fundamental out look is changing, even O'Neill thinks the growth will be better than he anticipated..
...http://finance.yahoo.com/q?s=^N225&d=1ym
I wish like your predictions on Japan and its banking system have come true, we may see that your prediction on next leg of DOW may equally be so rewarding for all of us..If Japan holds above 14000 we have every reason to expect that BKX moves after its test of 735 to 875 level, that may help a DOW move to 9800 level.. |
