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Friday, December 4, 2009

Japan announces it is NOT dumping US Treasuries

There was a rumor flying around today after hours that Japan was going to start selling US treasuries. Of course, no one will get prosecuted for market manipulation, but that's a different post.

In any event Japan clears the air there is no plans to sell us treasuries.
This news should help support a stronger US dollar, which at end of day Thursday started to gain strength again.

The chart to watch is the long term bear trend line, which remains in-tact. I am out of gold miners (maybe 2% in), long nothing, short everything. But quick to cover if we break out above the line. See chart below. And good luck.

From WebSufinMurfs FinancialBlog2

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