Opportunities at the End of a Multi-Year Trend
It's time to pay close attention to the yen and start to build up longer-term option plays for a massive price move.
It is Golden Week in Japan, a week with a cluster of four national holidays that typically is a time of travel and vacation for nearly all Japanese workers. The Ministry of Finance, however, didn’t get to spend a relaxing day on Monday, April 28, as speculators took advantage of thin market conditions to attack the yen and drive it to its weakest level against the dollar since April of 1990.
I have been waiting and hoping for this sort of market action. Let me explain why.