When you have news about investors fleeing or pulling out from funds in a bull market, i take that as a very bullish contrarian sign. I remain firm in my stand though the recent changes in trend in various financial markets has gotten me baffled.
Nikkei: Down as low as 2% as exporter's stocks were hit hard by the strength of the yen. Dollar/Yen remained strong in the 85-86 region.
US: Existing home sales plunged 27.2% in July. Numbers came in at 3.83m well short of the 4.7m forecast.
10 year T-bond yield: 17 month low at 2.54%.
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