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Two Ways To Play: Now and Yen


Strengthen your portfolio in good times and bad.


Yen Falls

The yen dropped against the euro -- and fell from a 13-year high against the dollar -- after Japanese authorities signaled they may intervene in the currency markets for the first time in 4 years. According to Bloomberg, Japanese Finance Minister Shoichi Nakagawa said he's "keenly watching" the foreign-exchange markets, and, while it's not definite, may try to limit the yen's appreciation.

The last time Japan intervened in the currency markets, it sold a record 20.4 trillion in 2003 and 14.8 trillion in 2004. Mr. Practical mentioned the yen yesterday in Alchemy.

From the Bull Pen: Despite the bleak US consumer outlook, a drop in the yen could be the catalyst to Sony's (SNE) upside. Bulls looking for a quick trade can set a sell stop below $20.

From the Bear Cave: Parabolic advances could lead to significant declines. Bears willing to test the downside in the yen for a trade can consider the Yen Trust ETF (FXY). Buy stops can be set near the high ($114.61)

Quick Check Around the World

Asian trading closed with the Hang Seng 0.24%, Nikkei 0.64%, Sensex 3.72%, Taiwan 1.01% and Shanghai 1.97%.

Glancing towards Europe, we see the CAC -0.78%, DAX 0.98%, FTSE 0.09%,

As of 8:10 a.m. EST, S&P futures are trading +4 to 907, and Nasdaq futures are +.50 to 1229.

A Look At Commodities

Crude oil is trading +0.460 to 40.40. Gold is +7.23 to 875.13. Silver is -0.070 to 11.340, and copper is -2.840 to 133.40.

The dollar index is -0.874 to 78.021.

On the Radar


08:30 Initial Jobless Claims
08:30 Continuing Claims
10:00 Philadelphia Fed
10:00 Leading Indicators

Click here for the full trading radar.

Good luck today!

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No positions in stocks mentioned.

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