Nikkei 225 Showing Sudden Strength
John Palatine | December 5, 2009 | View Comments
The Nikkei 225 index looks very bullish with a 10% rise this past week. It found a double bottom at the 9150 support and weekly 50 SMA area. If you have been looking at the Japanese market and want to gain some exposure in it, I suggest this is the right time and price to do so.
The easiest way for the individual investor, is probably to buy the EWJ (U.S. Dollar denominated ETF which represents the Japanese market). I have done this manually by buying the NIKKO ETIF 225 directly at the Tokyo Stock Exchange and financing this with a Yen carry trade. Next visible target area is 12,000, another 20% upside potential from yesterday’s close.
Category: Stock Market