Wednesday, February 18, 2015
Again with the Japan breakout attempt
Our swarthy buddy with the English accent whose name rhymes with Blichael Blaoul has been very insistent that the economic data out of Japan shows promise, so over the past week I've taken my junior mining profits and put them into CJP.to for a bit of diversification (otherwise it'd all be in HQU.to and HSU.to).
So here goes Japan, yet again, with the once more threatening an upside breakout:
What I like more is that Japan has already, slowly and patiently, broken out in CAD terms, because CJP.to is CAD-hedged:
I doubt you can see another 100% pop like in 2012-2013.
Rather, what's significant is that Japan is one of the economic titans, and any positive Japan data will be positive for the world economy as a whole, and American lamestream media hasn't really bothered to talk about Japan in the past year given their chart's been going nowhere (in USD terms) so this breakout will be positive news out of left field.
As well as, y'know, an improvement in Japan proving the Austerians wrong yet again.