January 27, 2006

Nikkei new highs led by Sony

From my blog post ten days ago - January 17

"""Nikkei mini crash

It does not matter what the news really is - panic is panic. i have neen talking about taking profits in tech and the japan index for a few weeks.

If you didn't, the last few days in japan have seen months of gains taken away and the Nasdaq will be the same in the morning.

I like japan down here again and will nibble on EWJ in the morning.

This could be the last big selloff in the Nikkei for a while. A close below 13,000 would change my mind."""

Flash forward to January 27th - the Nikkei is up 500 today with Sony - another of my faves - up 15 percent. The Nikkei is up to 16,500 - a cool 1300 points in 10 days if you bought into the panic. If you did, good for you. I only nibbled. Rat farts!

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