Good one there: "Elliot Wave" hahaha, fits every data, under ever circumstance. I remeber a time when the Japanese markets were controlled by majour manufacturing companies, brokerage firms, and banks. But that was just yesterday. Now with the realization that JAPAN has got it wrong yet a third time in a row, maybe; just maybe some day... "in a far of galaxy" they will get it straight....
Currency traders put the currencies to the level that they do to equalize fiscal & monetary policies. So when Japan FED jumps in {as it did thursday & Friday of last week} and props up the currency, they only set themselfs up to get hit again. If this was a lame duck attempt to increase bond yields, as some suggest, it was destine to fail. Let the currency float, even up to 165-200 and than you may see positive cashflows into the country, and new manufacturing companies develope. Than the bonds rates will truely go up, and give Japan a chance to buy bonds, and inflate M2!
I still see the Nikkei 225 going to 11,000 {or optimistically 12500} before it's over. But than again I see the DOW hitting 9300 by MAY {easy target} and FALLING to 6300 by JUNE.
PS: See you guys on the GOLD MONITOR THREAD |
