Depreciating Yen ate your profit. Look at DXJ, that one is currency hedged so you don't lose when Yen drops. Also those ETFs hold Japanese stocks that trade in New York , Europe bourses, sometimes they front run the Japanese market.
Yen filled the April 5th gap at 97.06. That maybe enough. Kuroda printing more money the Bernanke, #$%$ debt to GDP twice as bad. Yen has no place to go but down. #$%$anese company earnings should be boosted. Borrow Yen, buy dollar, stock, bonds,gold trade is on.
Bought 1000 shares at $7 after watching CEO on CNBC. I have to say I agree with him completely. Results are good enough for doctors. Use in between colonscopy . More Doctor visits.
Wow! this board is so negative. Time to cover my short. Oh,, wait. Yesterday's sucker longs are dumping today. Better wait a week. Price will be even lower.
Everyone is too scared to buy. I know I am. Waiting and watching how Asian market react overnight. They've been buying physical gold every night ,holding price up as we sleep. They see us stabilize ttoday, just might rush in for the bargain.
Can you believe it, Philadelphia Fed -12.5. Leading econ indicator +0.2% Jan vs +0.5% Dec.
Fed printed all that money, all it did is pump up stock price. Gold has turned. GDXJ traded 1 million shares first hour. Changing into strong hands.
Cooling economy means lower stock prices. Hedge funds sold gold last quarter to fund their purchase of stock . They'd be selling stock to buy gold back if today's Dow drop mean stock market has changed direction.
I'm not giving up today is the bottom reversal day. 200 day trend line is $21, 50 day trend line is $19.7 Price always move toward trendline. Gold also had strong support in the $1578 region, a scare breakage down to $1570 to scare out the weak hands is possible. And the Fed minute is backward looking. The bad retail numbers havn;t hit them on Jan 30. Its beginning to show in Feg numjbers.
Japanese gov't has started unlimited bond buying program. Their debt is 200% of GDP with a shrinking population. No hope to tax their way out of it. Yen will be worthless. Do they trust US$, Euro.......No way.
They can only go into gold. And Japanese stock.
That is every shorts target. Strong support in 2012 was $1578. Central banks bought 500 tons in 2012, they will buy here. Asia spot price was stable every night. Only when London, US opens gold start tumble. You know its not physical selling. Its all paper.