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Two Ways: Japan Eyes Defense Expansion

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Strengthen your portfolio in good times and bad.

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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

Economics

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!
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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