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Japanese stocks declines again today for a third straight session as the yen rises further...

Japanese stocks declines again today for a third straight session as the yen rises further against the dollar and Wall Street finishes weak. The Nikkei Average is down 0.5% to 13,726, with exporters leading declines: Mazda (MZDAY.PK -1.5%), Bridgestone (BRDCY.PK -2.2%), Panasonic -0.9%), Toyota (TM -1.3%).
Comments (1)
  • Joe2922
    , contributor
    Comments (418) | Send Message
     
    Short yen is very overcrowded trade, and long Nikkei is too, as Kyle Bass said buying Japanese stocks is like picking up pennies in front of a bulldozer. Russell 2000 is lagging badly, and tremendous down volume Wed., esp. compared to super light volume in days preceding.
    Canaries in the Coal mine are gasping for air! Chasing yields is dangerous (dow, spx, utilities, MLPs)
    5 Unique Charts say sell now:
    http://bit.ly/WpVqYk
    1 May 2013, 11:11 PM Reply Like
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