The YEN-SPY carry trade is now running at about an 80% correlation. When the FXY goes lower, stocks trade higher. Intelligent people borrow yen to buy S&P 500 companies paying handsome dividends. These same individuals then garner the proceeds and buy themselves new Tesla automobiles and summer homes in Bath, France.
Aside from that, the world now revolved around the caprices of a certain Carl Icahn. Talk about having it your way and fast: FRX just got bought out and Mr. Icahn just realized another 300% return.
Chinese burritos stocks are looking good this morning, led by QIHU. The only ones that I like are QIHU, SFUN and YY. For degenerate reasons only, I’m also a fan of WBAI.
Has NUS bottomed and will sapphire on silicon really make it big this go around, helping the prospects for GTAT and RBCN?
Guess what? The Yen is down another 0.43% today, so expect to see your favorite stock edge up a little higher today.
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Yellen flies in a stealth helicopter.
ZZZZZZZZZZzzzzzzzzzzzzz.
At first glance I kept thinking that was one giant tooth in his mouth