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Two Ways: Japan Eyes Defense Expansion


Strengthen your portfolio in good times and bad.

Japan to re-Militarize?

A Japanese government panel proposed that the country should ease restraints on the military by allowing more imports and exports of weapons. It's an effort to allow the country's defense industry to develop and further improve its alliance with the United States, according to Reuters.

But opposing Democrats said they would rethink those plans if they took power. Such plans may conflict with Japan's post-World War II pacifist constitution by allowing Tokyo to shoot down missiles headed for the US. It could also alarm neighboring countries like China and South Korea where many suffered under Japanese control during the Second World War.

From the Bull Pen: As for defense plays in the US, look to General Dynamics (GD). See the stock approaching $60 for the fourth time on the daily chart. One can fade any weakness into $54-53. A sell stop can be set below recent lows near $51.

From the Bear Cave: Bears can look to Oshkosh (OSK). Professor Fil Zucchi mentioned this military truck maker on the Buzz & Banter yesterday registering DeMark sell signals on a daily and weekly basis. Those playing the downside can set a buy stop above $31.

Quick Check Around the World

Asian trading closed with the Hang Seng -0.05%, India -0.59%, Shanghai 0.26%, Nikkei -0.04%, and Taiwan -0.30%.

Across the pond, we see the FTSE -0.84%, CAC -0.69%, DAX -0.76%

As of 8:10 AM EST, S&P Futures are trading -7.25 to 993.50 and Nasdaq futures are -12.00 to 1614.75.

A Look at Commodities

Over in commodities, crude oil is trading -0.93 to 70.65 while gold is -3.200 at 954.30 this morning. Silver is -0.132 to 14.12 and copper -4.000 to 269.85.

The dollar index is +0.0350 to 77.7850.

On the Radar


8:30 Personal Income -1.0% cons
8:30 Personal Spending 0.3% cons
10:00 Pending Home Sales 0.3% cons

Click here for the full trading radar.

Good luck today!
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No positions in stocks mentioned.

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