Shorting the yen appears to be nudging out long Apple as the most-crowded hedge fund trade, with BAML reporting more than a doubling in notional yen shorts over the last 2 months of the year (CFTC data shows the same) as some notable funds trim stakes in Apple. FXY starts off the year -0.5% after falling 10.5% in Q4. [View news story]
should easily be the best trade for 2013--point and figure chart for ycs has minimum price objective of 72 versus price of 51 on 1/2/13
Gold and silver slide again in a big late-year sell off taking on a curious resemblance (I, II) to the price action at the end of 2011. Followers of the precious metals hardly need to be reminded that bear market ended on the last trading day of the year, and was followed by a big bull run in Q1. GLD -0.9%, SLV -2.3% premarket. [View news story]
Gold and silver slide again in a big late-year sell off taking on a curious resemblance (I, II) to the price action at the end of 2011. Followers of the precious metals hardly need to be reminded that bear market ended on the last trading day of the year, and was followed by a big bull run in Q1. GLD -0.9%, SLV -2.3% premarket. [View news story]
It didn't happen at last night's meeting, but the BOJ is ready to set a 2% inflation target, as demanded by incoming PM Shinzo Abe. "We intend to make the decision at the next meeting in January," says BOJ Governor Shirakawa ... We took into account (Abe's) request." So much for independence. After strengthening overnight, the yen has returned to unchanged vs. the greenback. [View news story]
sayonara to shirakara--if the boj isn't going to help japan--time for new management at the boj
Jim O'Neill joins the swelled ranks of yen bears/Nikkei bulls, calling for the dollar to climb to ¥100-¥112 in 2013 from its current ¥84. The cheerful Goldmanite sees 25% gains not just in Tokyo, but Shanghai (soft landing a done deal), and Madrid (cheap, and crisis over). Earlier: The BOJ allows the line between the government and the central bank to be erased. [View news story]
Morgan Stanley pulls the plug on John Paulson, its Wealth Management Division recommending clients sell 6 his funds after 2 years of horrid performance. Paulson is a major holder of GLD, and surely knew the liquidations were coming. Might this have something to do with the recent sell off in the metal, asks ZH. [View news story]
great analysis--paulson lucked out on subprime. since then less luck. win some lose some--collect 2% management fee-life is good
"It's obscene what they're talking about doing," says John Maudlin of the new Japanese government. The BOJ is likely to undertake a level of printing making the Fed and ECB efforts look small. The dollar could become "stronger than anyone imagines," he contends, but given the recent popularity of shorting the yen, he doesn't expect an imminent move. [View news story]
john maudlin is? the boj is just trying to correct an extremely overvalued yen. hopefully the world will support japan in this worthy and humble effort.
Eli Lilly & Co. (LLY) declares $0.49/share quarterly dividend, in line with previous. Forward yield 4.05%. For shareholders of record Feb. 15. Payable Mar. 08. Ex-div date Feb. 13. The board approves share repurchase program of $1.5B. Shares +0.5% AH. (PR) [View news story]
Japan goes to the polls over the weekend, and the LDP is expected to have a big victory, ushering in Shinzo Abe as PM. Abe has been clear about the need for the BOJ to target a higher inflation rate. Stocks and the yen have responded - the Nikkei rising 12% in a month, and the yen nearing its YTD low vs. the dollar. Stay nimble. If the LDP wins by a smallish margin, Sunday night could be a tough one for trend-followers. [View news story]
Jeff Gundlach gets in on a recently popular trade - long Japanese equities and short the yen. The country is dead in the water, he says, with aggressive currency debasement about the only policy left, and cheap Japanese stocks are set to benefit. The dollar rises to its highest level vs. the yen 8 months, buying ¥82.89. [View news story]
gundlach knows what he's doing--someone worth following
Shorting the yen appears to be nudging out long Apple as the most-crowded hedge fund trade, with BAML reporting more than a doubling in notional yen shorts over the last 2 months of the year (CFTC data shows the same) as some notable funds trim stakes in Apple. FXY starts off the year -0.5% after falling 10.5% in Q4. [View news story]
New Prime Minister Could Turn Around Japanese Market [View article]
New Prime Minister Could Turn Around Japanese Market [View article]
Gold and silver slide again in a big late-year sell off taking on a curious resemblance (I, II) to the price action at the end of 2011. Followers of the precious metals hardly need to be reminded that bear market ended on the last trading day of the year, and was followed by a big bull run in Q1. GLD -0.9%, SLV -2.3% premarket. [View news story]
Gold and silver slide again in a big late-year sell off taking on a curious resemblance (I, II) to the price action at the end of 2011. Followers of the precious metals hardly need to be reminded that bear market ended on the last trading day of the year, and was followed by a big bull run in Q1. GLD -0.9%, SLV -2.3% premarket. [View news story]
It didn't happen at last night's meeting, but the BOJ is ready to set a 2% inflation target, as demanded by incoming PM Shinzo Abe. "We intend to make the decision at the next meeting in January," says BOJ Governor Shirakawa ... We took into account (Abe's) request." So much for independence. After strengthening overnight, the yen has returned to unchanged vs. the greenback. [View news story]
Jim O'Neill joins the swelled ranks of yen bears/Nikkei bulls, calling for the dollar to climb to ¥100-¥112 in 2013 from its current ¥84. The cheerful Goldmanite sees 25% gains not just in Tokyo, but Shanghai (soft landing a done deal), and Madrid (cheap, and crisis over). Earlier: The BOJ allows the line between the government and the central bank to be erased. [View news story]
Real Numbers And Thoughts Behind A Weak Yen And Japan's Exporters [View article]
Morgan Stanley pulls the plug on John Paulson, its Wealth Management Division recommending clients sell 6 his funds after 2 years of horrid performance. Paulson is a major holder of GLD, and surely knew the liquidations were coming. Might this have something to do with the recent sell off in the metal, asks ZH. [View news story]
"It's obscene what they're talking about doing," says John Maudlin of the new Japanese government. The BOJ is likely to undertake a level of printing making the Fed and ECB efforts look small. The dollar could become "stronger than anyone imagines," he contends, but given the recent popularity of shorting the yen, he doesn't expect an imminent move. [View news story]
Eli Lilly & Co. (LLY) declares $0.49/share quarterly dividend, in line with previous. Forward yield 4.05%. For shareholders of record Feb. 15. Payable Mar. 08. Ex-div date Feb. 13. The board approves share repurchase program of $1.5B. Shares +0.5% AH. (PR) [View news story]
The Land Of The Rising Sun Rises Again [View article]
Japan goes to the polls over the weekend, and the LDP is expected to have a big victory, ushering in Shinzo Abe as PM. Abe has been clear about the need for the BOJ to target a higher inflation rate. Stocks and the yen have responded - the Nikkei rising 12% in a month, and the yen nearing its YTD low vs. the dollar. Stay nimble. If the LDP wins by a smallish margin, Sunday night could be a tough one for trend-followers. [View news story]
BofA Merrill Lynch's 1,600 year-end target for the S&P in 2013 is one of the most optimistic on Wall Street. Its 10 favorite stocks for the new year: F, WMT, VLO, C, LLY, MMM, CSCO, MOS, CTL and NU. It's worth noting that BAML's list from last year has returned 18% YTD so far. [View news story]
Jeff Gundlach gets in on a recently popular trade - long Japanese equities and short the yen. The country is dead in the water, he says, with aggressive currency debasement about the only policy left, and cheap Japanese stocks are set to benefit. The dollar rises to its highest level vs. the yen 8 months, buying ¥82.89. [View news story]