A brief recap of our reasons for a bullish outlook on Japan’s stock market.
Japan appears to be getting its fiscal house in order. Opportunity may be developing here. We constructed a list of potential Japanese ADRs, and built an index to monitor the situation.
A month ago, we noted that our long term momentum work indicated the Tokyo stock market might be in a bottoming process and if this work was correct, these Japanese Globals (all with U.S. ADRs) could be great buys.
A pullback to 16000 or thereabouts could trigger some action on our part. One possible strategy we have discussed is an ADR package of major exporters.
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