So I am not going to pretend I’ve got all the answers on a day like this. My broad market longs are very mixed, my shorts are good and my precious metals and ‘inflation trade’ stuff are doing poorly. But for the same reason I did not buy anything on the late week burst upward in the inflatables, I am not selling today’s unwind either. Sitting on hands I think you’d call it.
Anyway, one thing looking good in a broad market full of suspects is Yen-hedged Japan. I bought DXJ a while back due to the pattern that I thought might be forming, but only insofar as the Yen did not firm. The pattern is looking good.
I bought the above and an individual manufacturing company on condition of a suspect Yen, which is now doing this…
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