Last month Nikkei corrected and stopped on support (Fibo retracement), I recommended a BUY in my previous update.
The chart did not lie (again), and Nikkei rebounded 2000 points since then... No change in my long recommendation, now that Super Abe has all the power to throw his 3rd arrow...I keep my long for the next level 17000-18000 area for the Nikkei...
European markets and US markets continue their slow rally, some upside and no change in my targets. Be vigilant though.
The new development for this month is a long in Gold who fell and rebounded on a support (1250's). I bought Gold confidently for long term with the previous high (1700's) as target.
The best would be to buy physical gold, but I bought a Physical Gold ETF, PHAU.L which is a share of tracker who owns the bullion...
I think the Equity market rally is not supported by real good fundamentals(top line not there), but mainly QE/liquidity driven, hence a long in Gold is a good hedge. A strong correction is expected in 2013H2...
Finally, in jan 2013, I mentioned about a long in Peugeot (~5€) , the share is now >8.5 €, and still has further upside.10€, then 15€ are the next targets.
In short: Keep invested in Japan, buy gold...
Happy investing, and BONNES VACANCES...
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