1. Japan had the typical back to the Bollinger move up today but the overall picture for the Nikkei looks very gloom and doom as the TDM monthly count says we have to drop to the 6000 level and even slightly below making new alltime lows as we need 4 consecutive monthly low closes below 7000. Do not get any idea as some are spreading right now including Marc Faber that Japan might be a bargain – at least not before we see 6000. The situation speaks for itself with the radiation situation and the earthquake aftermath Japan is about to face the hrsh reality that it is broke and survived with 20 years zero interest rates up to now but the rising inflation globally which it could smooth down with a stronger yen to some degree will be obsolete soon as the Yen will start to crash after the double bottom in USDJPY around 80 is finalized. The debt Japan has accumulated is twice its GDP and that negative Gap will widen now and in best case a single A would be a benign way to look at their credit.
Nikkei Surges As BOJ Injects Another ¥3.5 Trillion: Just Add It To The Existing ¥23 Trillion Plunge Protection Tab
Submitted by Tyler Durden on 03/15/2011 20:39 -0400
It’s another day for the BOJ, which more than anything is hell bent on preventing a rerun of last night’s tumble in the futures to a 7 handle. The solution: add another several trillion into money markets. Following Monday’s¥15 trillion plunge protection deposit, and yesterday’s ¥8 trillion, just announced was the first tranche for tonight, which amounted to ¥3.5 trillion. And so the total involve to prevent the market from plunging a more 1,000 points is now ¥26.5 trillion, or $325 billion.
2. The fact that Germany or the most overrated Ms Merkel opposes a no fly zone in Lybia besides the complete foreign policy failure team Obama/Clinton suports the lucky momentum Gaddafi has right now according to his stars. As I stated earlier right at the beginning of the uprise was a small window but now he has some benign patterns going for him for a few weeks before around June his luck will change and one or the other way he will very likely be out of power.
Libyan Rebels Fall Back as Qaddafi Forces Near Benghazi
A family fleeing the the eastern Libyan city of Ajdabiya look over at rebels filling up their gas tank at a station on the edge of town on March 15. Photographer: Roberto Schmidt/AFP/Getty Images
Muammar Qaddafi set his sights on Benghazi as his forces moved into the gateway city of Ajdabiya, 100 miles (161 kilometers) from the rebel capital, and prospects faded for a NATO-led no-fly zone to stop their advance.
The embattled Libyan dictator, appearing with a small group of supporters on state-run television, vowed to fight rebel “rats” and said “we are going to destroy them.” In Benghazi, hundreds of his opponents, watching the broadcast projected on the side of a building, jeered and threw shoes in disrespect, according to a live video feed shown by Al Jazeera television.
The Libyan army is “coming to secure Benghazi,” state-run television said. Pro-Qaddafi forces attacked on two sides of Ajdabiya using airstrikes and artillery, forcing out-gunned rebels and civilians to flee ahead of troops in tanks and personnel carriers, the Associated Press reported. There were conflicting reports on who controlled the city after nightfall.
With rebels on the defensive, the Group of Eight foreign ministers failed to agree yesterday on imposing a no-fly zone. The head of the rebels governing council, Mustafa Abdel Jalil, said on Al Arabiya television that the debate over a no-fly zone “doesn’t concern us now” and he called on Libyans to defend their cities.
“The international community has failed us,” Ahmed Omar, a rebel army commander, said by phone from Benghazi.