• For more than 30 years the Bank of Japan groped for a monetary policy that would break the country about of its torpor. Finally in April, BOJ president Haruhiko Kuroda got the world's attention by taking actions so extreme the market couldn't help but react. The Yen has collapsed through a huge technical barrier at 100 per dollar and the Nikkei (^N225) is making 5-year highs.

    The question for traders is whether this is just another fake out or if the long-awaited Japanese recovery has finally begun.

    Louise Yamada, managing director of Louise Yamada Technical Research Advisors, says both the Yen and the Nikkei moves are the real deal.

    Today's leap over 100 is huge for the Yen. Yamada and others expected it to take longer for the currency to break through such time-tested resistance. Now that it's happened the Yen is in a spot that should be familar to U.S. investors: the rally is "due for a rest" but the momentum just won't stop.

    Related: Japanese Rally Will End in Tears, Warns Schiff

    "It's looks like a legitimate breakout in the Nikkei and clearly a legitimate decline in the currency," Yamada says in the attached video. What's that mean?

    Read More »

  • Jamie Dimon may be both feared and idolized on Wall Street, but institutional investors seem to be falling out of love with the king of JPMorgan (JPM).

    Self-styled corporate governance experts from groups like Institutional Shareholder Services (ISS), the California Public Employees' Retirement System (CalPERS) and the Illinois State Board of Investment (ISBI) have all announced that they will vote in favor of separating the roles of chairman and CEO at JPM. If the groups have their way, Dimon will be stripped of his chairman title but retain his role as CEO.

    The split of the chairman and CEO roles is something of a crusade for institutional investors, the idea being that a chairman should be a check on the CEO's power to control a corporation's agenda. JPM is being targeted, in particular, as a reaction to the "London Whale" debacle of 2012.

    James Altucher, editor of Altucher Confidential, questions the timing and motivation of the institutional funds, while pointing out the absence of similar outrage on the cusp of the financial crisis when investors could have used some help. "Where were they in 2007 on Lehman Brothers when shareholders actually needed them?"

    Plenty of people didn't see the meltdown coming. Less forgivable is the fact that the groups have no evidence that splitting the roles of chairman and CEO actually helps shareholders. The bare minimum qualification for those with a legal responsibility to protect retirees' money should be some sort of evidence that their proposals make sense.

    Read More »

  • Call it a currency event. The yen is now weaker than the penny. As of this morning, the Japanese currency is trading at 101 to the dollar. Yahoo! Finance Senior Columnist Mike Santoli talks about the significance of the move in the video above.

    Carl Icahn is again trying to make a takeover of Dell (DELL) compute. The activist investor has submitted a new offer for Dell along with Southeastern Asset Management. Under the plan, stockholders would get $12 for each share, which they could either take in cash or company stock. They would also have the option to retain existing shares. Company founder Michael Dell and Silver Lake Management have offered $13.65 a share in a proposal that Icahn says is undervalued.

    Amazon (AMZN) may be trying again to crush or at least bruise Apple (AAPL). The online shopping giant is now said to be working on a high-end smartphone. Its most unique feature is likely to be a screen that shows things in 3D. Amazon remains an online marketplace at its own core,

    Read More »

  • Ubiquiti Networks (UBNT) has been up more than 20% in response to its earnings report. The company beat on both the top and bottom lines posting earnings of 24-cents a share on revenue of $83-million. Ubiquiti is a California-based company that makes equipment for wireless networks. It also gave an outlook for the current quarter which topped estimates. With the rise we've been seeing since yesterday afternoon, Ubiquiti is now trading at about two-thirds of its 52-week high which it set exactly one year ago.

    Next up is Molycorp (MCP), which says unchanged here but has moved about 9% higher over on the NYSE. This is a mining company that specializes in rare-earth products. It's based in Colorado. Molycorp posted narrower-than-expected losses yesterday afternoon, coming in with negative 15-cents a share when consensus was for negative 31-cents. It also beat on revenue by nearly 10%. It has been a rocky year for the company, with shares down 46% prior to this climb.

    Now a stock

    Read More »

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