CNBC Article Pumps Japan About 1.5 Mos. Too Late

Hey, did you know that the Yen has been bearish?  Did you know that on October 10, when the Yen was just breaking down we made this NFTRH+ update highlighting a buying opportunity on Yen-hedged Japanese stocks?

Enter the MSM to let the world in on the scoop…

Stock strategists find a country they like even more than the United States

Did you know that CNBC now wants you to know that Morgan Stanley has…

“issued a “double upgrade” on Japanese stocks, moving its rating two rungs higher to “overweight” and reversing a previously negative view on the country.”

Hear that?  Not just an upgrade, but a double upgrade.  Wow, that must be an important upgrade beyond the currency-based trade I originally proposed (and took advantage of).  Nope, the article is on the same currency-related theme…

“There comes a point where the weak yen and the (Japanese government 10-year bond yield) pegged to zero that starts to make Japanese equities look attractive,” Lee Ferridge, head of macro strategy, North America, at State Street Global Markets, said last week. If he were to look at any country’s stocks outside the United States, he said, “it would be the Nikkei.”

Should they not have touted this back when the Yen was topping as opposed to 3 months after its top and 1.5 months since we noted the Yen’s breakdown in early October?  Hey, jump into the Japanese stock market based on a currency move that is already mature and look smart until global risk goes off once again!

Here is the chart of the Yen from our original update.  The yellow highlight is where we noted the opportunity.  I mean, come on guys.  You’re touting a deeply oversold Yen as a reason to buy Japanese stocks now?

japanese yen

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