I've seen a smattering of articles urging people to buy Japanese stocks based on the very bizarre logic that the Nikkei was at 40,000 in 1989 and it's at 12,000 now, so it must be a great buy (these numbers are rough guesses, but I'm not going to bother getting the precise figures; you get the idea). Looking at EWJ, it seems to me that, by and large, Japan is trapped in a trading range, and we're on the high end of the range now, so it should be shorted.
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I've been a raving HerbaLife (HLF) bear for months, and although I had absolutely no opinion of Carl Icahn up to about ten days ago, after the Ackman-Icahn slugfest, I decided Ackman (bearish on HLF) was a sharp, classy, intelligent investor whereas Icahn (bullish on HLF) was an abrasive loudmouth. I'll say it again: I'm with Ackman.
That was a very nice looking H&S setup on SPX and ES on Friday morning, but the serious doubts I expressed about it then proved to be very well founded. SPX closed another week at the upper weekly bollinger band, and as I mentioned last Monday, this is rising at about ten points per week, so if we see the same again next week the target area would be 1522/3 on SPX: