'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

ja research

ja research is an independent research platform focused exclusively on Japanese equities. Leveraging data and graphic analysis provided by Japan Analytics, we provide insights on small and medium-sized companies that have been ignored by the sell-side as well as challenging conventional wisdom on larger companies. We also offer analyst and corporate access, the latter with translation if required. 

Quantitative Analysis

- MARKET COMPOSITE -<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/081/436/original/2019-03-10_11-07-01.png?1552183736" class="editor-image img-responsive" data-smartkarma-image-id="81436"></figure><div style="text-align: center;" class="content-caption">Source: Japan Analytics</div><div>
SOUTHBOUND - The upside we anticipated two weeks ago turned out to be only ¥6t before the harsh realities of some weak macro data intervened and sent the market 3% lower over the last two trading days suggesting the bear market rally is now over. After peaking at 48%, the market-value-based percentage above the weighted sum of moving averages has now retreated to 33%. </div><hr>- SECTORS - <figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/081/437/original/2019-03-10_11-38-43.png?1552185548" class="editor-image img-responsive" data-smartkarma-image-id="81437"></figure><div style="text-align: left;" class="content-caption">
LEGEND: The 'sparklines' show the three-year trend in the weighted percentage above moving average relative to the Market Composite and the 'STDev' column is a measure of the variability of that relative measure. The table also provides averages for the breaks above and breaks below and the positive and negative crossovers.</div>SECTOR BREAKDOWN - The top six sectors remain domestic and defensive and are unchanged from two weeks ago with REITs, the clear leader. Equally predictable is the bottom half-dozen - Banks, Non-Bank Finance, Retail, Autos, and Metals remain from two weeks ago, with Machinery replacing Construction. Banks stay at the bottom, and the sector had its largest volume 'day' as measured by our Volume Score since September 21st, 2018 on Friday although many other sectors were 'active.' <figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/081/440/original/2019-03-10_11-54-26.png?1552186476" class="editor-image img-responsive" data-smartkarma-image-id="81440"></figure><div class="content-caption">Source: Japan Analytics</div><hr>- COMPANIES -COMPANY MOVING AVERAGE OUTLIERS - As with the Market Composite and Sectors, the Moving Average Outlier indicator uses a weighted sum of each company's share price relative to its 5-day, 20-day, 60-day, 120-day and 240-day moving averages. 'Extreme' values are weighted sums greater than 100% and less than -100%. We would caution that this indicator is best used for timing shorter-term reversals and, in many cases, higher highs and lower lows will be seen. <div class="content-highlight">
In the DETAIL section below, we highlight the current top and bottom twenty-five large capitalisation outliers, as well as those companies that have seen the most significant positive and negative changes in their outlier percentage in the last two weeks and provide short comments on companies of particular note.
Our most extreme positive outlier two weeks ago, <a href="https://www.smartkarma.com/entities/26181" target="_blank" data-smartkarma-citation="entities:26181:1">Pksha Technology (3993 JP)</a> declined by 8% and 'tops' our most negative two-week change list, while the most negative outlier <a href="https://www.smartkarma.com/entities/24540" target="_blank" data-smartkarma-citation="entities:24540:1">SanBio (4592 JP)</a> rose by 3%. <a href="https://www.smartkarma.com/entities/8244" target="_blank" data-smartkarma-citation="entities:8244:1">Leopalace21 (8848 JP)</a> which was also featured recovered by 9%.
<a href="https://www.smartkarma.com/entities/2709" target="_blank" data-smartkarma-citation="entities:2709:1">AnGes (4563 JP)</a> is currently the most extreme large cap positive outlier having peaked at '492' on 26th February up from a 'trough' of -132 in December. Biotechnology peer <a href="https://www.smartkarma.com/entities/24540" target="_blank" data-smartkarma-citation="entities:24540:1">SanBio (4592 JP)</a> is, for the third time this year, the most extreme negative outlier, having topped the 13th January and 24th February positive outlier lists and is another 'round-tripper'. 
</div><div class="content-caption">
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/081/441/original/2019-03-10_12-13-00.png?1552187591" class="editor-image img-responsive" data-smartkarma-image-id="81441"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/081/442/original/2019-03-10_12-17-48.png?1552187878" class="editor-image img-responsive" data-smartkarma-image-id="81442"></figure>Source: Japan Analytics
</div>

- MARKET COMPOSITE -Source: Japan Analytics
SOUTHBOUND - The upside we anticipated two weeks ago turned out to be only ¥6t before the harsh realities of some weak macro data intervened and sent the market 3% lower over the last two trading days suggesting the bear market rally is now over. After peaking at 48%, the market-value-based percentage above the weighted sum of moving averages has now retreated to 33%. - SECTORS - 
LEGEND: The 'sparklines' show the three-year trend in the weighted percentage above moving average relative to the Market Composite and the 'STDev' column is a measure of the variability of that relative measure. The table also provides averages for the breaks above and breaks below and the positive and negative crossovers.SECTOR BREAKDOWN - The top six sectors remain domestic and defensive and are unchanged from two weeks ago with REITs, the clear leader. Equally predictable is the bottom half-dozen - Banks, Non-Bank Finance, Retail, Autos, and Metals remain from two weeks ago, with Machinery replacing Construction. Banks stay at the bottom, and the sector had its largest volume 'day' as measured by our Volume Score since September 21st, 2018 on Friday although many other sectors were 'active.' Source: Japan Analytics- COMPANIES -COMPANY MOVING AVERAGE OUTLIERS - As with the Market Composite and Sectors, the Moving Average Outlier indicator uses a weighted sum of each company's share price relative to its 5-day, 20-day, 60-day, 120-day and 240-day moving averages. 'Extreme' values are weighted sums greater than 100% and less than -100%. We would caution that this indicator is best used for timing shorter-term reversals and, in many cases, higher highs and lower lows will be seen. 
In the DETAIL section below, we highlight the current top and bottom twenty-five large capitalisation outliers, as well as those companies that have seen the most significant positive and negative changes in their outlier percentage in the last two weeks and provide short comments on companies of particular note.
Our most extreme positive outlier two weeks ago, Pksha Technology (3993 JP) declined by 8% and 'tops' our most negative two-week change list, while the most negative outlier SanBio (4592 JP) rose by 3%. Leopalace21 (8848 JP) which was also featured recovered by 9%.
AnGes (4563 JP) is currently the most extreme large cap positive outlier having peaked at '492' on 26th February up from a 'trough' of -132 in December. Biotechnology peer SanBio (4592 JP) is, for the third time this year, the most extreme negative outlier, having topped the 13th January and 24th February positive outlier lists and is another 'round-tripper'. 

Source: Japan Analytics


🇯🇵 Japan: Moving Average Outliers - AnGes, SanBio, Adastria, AIN, Sumco & Benefit One

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

Thematic (Sector/Industry)

The drugstore sector has been the fastest growing retail sector after e-commerce in the last decade, boosted by the popularity of Japanese toiletry and cosmetics brands among tourists and the push for market share by leading players.Drugstores already account for 40% of cosmetics sales and their share of other key categories is growing, even in food, with some chains already selling enough food to qualify as top 20 supermarkets (in 2017, 26.2% of drugstore sales came from food).Future profit growth will be determined by prescription services, food and M&amp;A, with all of the leading firms racing to build capacity.

The drugstore sector has been the fastest growing retail sector after e-commerce in the last decade, boosted by the popularity of Japanese toiletry and cosmetics brands among tourists and the push for market share by leading players.Drugstores already account for 40% of cosmetics sales and their share of other key categories is growing, even in food, with some chains already selling enough food to qualify as top 20 supermarkets (in 2017, 26.2% of drugstore sales came from food).Future profit growth will be determined by prescription services, food and M&amp;A, with all of the leading firms racing to build capacity.

<div class="content-caption">
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/076/722/original/2019-01-26_16-21-53.png?1548487323" class="editor-image img-responsive" data-smartkarma-image-id="76722"></figure>

Source: Japan Analytics
</div>
CONSISTENCY PAYS - In troubled markets, investors often seek out companies with greater earnings stability and a history of consistent stock outperformance. Conversely, companies that offer investors more of a rollercoaster ride (<a href="https://www.smartkarma.com/entities/6232" target="_blank" data-smartkarma-citation="entities:6232:1">Chiyoda Corp (6366 JP)</a> being an excellent recent example) are less rewarding, especially when adjusted for volatility. In an attempt to sort the 'Steady Eddies' from the Rollercoaster Rides', we have created a Consistency Score - a composite based on our Results Score, Forecast/Revision Score, Relative Price Score and Volume Score - which measures the variability, consistency, correlation, and range of each of these scores for every company.  Cap-weighted aggregate Consistency Scores are then derived for 321 Peer Groups and 29 Sectors - REITs are excluded from this analysis. Over 3 million data points have been reviewed in creating this analysis. As the old slogan goes - "we do the work, so you don't have to'.
'CARP = CONSISTENCY-AT-A-REASONABLE-PRICE' - Our findings will not surprise long-term investors in Japanese equities; the simple asset allocation decision to prefer domestic growth over global value has determined the quartile-ranking of many strategies in recent years. Although many of these Sectors, Peer Groups and stocks are now overvalued, we do not expect the underlying business dynamics to change in the years ahead and many excellent investment opportunities remain, especially down the cap-scale. Periodic and often substantial mean reversions in the more cyclical sectors, such as the one that has occurred in the last two days, will offer attractive trading opportunities for more-nimble portfolio managers. Longer-term orientated investors are better-advised to continue to favour 'consistency-at-a-reasonable-price'.  Some of our 'findings', as explained in more DETAIL below, are as follows: - 
<ul class="">
<li>
SECTORS - The better investors in Japan over the last two decades have eschewed traditional manufacturing in favour of Services, IT/Internet, Retail, Restaurants and 'FB&amp;T'. Only Machinery and Electrical Equipment outperformed the market's 4% compound annual growth rate (CAGR) over the period.</li>
<li>
PEER GROUPS- The most-consistent Peer Groups are found in industries associated with food, drugs, welfare, shelter and amusement. Only five of the top-forty Peer Groups - Online Payment Services, E-Commerce, IT System Services, Telecom Distribution Services and Internet Software &amp; Services belong to the 'new age'. There are no manufacturing Peer Groups in the top-forty. The best performing Peer Group is Securities Services, and the worst-performing is Investment Management &amp; Advice. Although both have similar levels of consistency, the stock exchange has beaten its fund managers by 28% annually since 2005.</li>
<li>
COMPANIES - The simple average fourteen-year compound annual share price appreciation for all listed large-cap companies is +5.1%. For all listed companies the average falls to just +0.5%, highlighting the perils of investing in Japan's small caps. The average share price CAGR for our hindsight-selected top-forty is +18.7%. In contrast, only one of our forty least-consistent companies outperformed the market and the average for the least-consistent forty companies was a negative -3.2%.   Unsurprisingly, there are eight banks and six steel companies on the list, along with two glass companies and two shipping lines.</li>
<li>
CONSISTENCY HALL OF FAME/SHAME AWARDS - We have selected one company from each of the most and least consistent lists as the winner of a 'Consistency Award'. Both are highlighted in the chart above. One of them will be as surprising to many readers as it was to us.  </li>
</ul>




Source: Japan Analytics

CONSISTENCY PAYS - In troubled markets, investors often seek out companies with greater earnings stability and a history of consistent stock outperformance. Conversely, companies that offer investors more of a rollercoaster ride (Chiyoda Corp (6366 JP) being an excellent recent example) are less rewarding, especially when adjusted for volatility. In an attempt to sort the 'Steady Eddies' from the Rollercoaster Rides', we have created a Consistency Score - a composite based on our Results Score, Forecast/Revision Score, Relative Price Score and Volume Score - which measures the variability, consistency, correlation, and range of each of these scores for every company.  Cap-weighted aggregate Consistency Scores are then derived for 321 Peer Groups and 29 Sectors - REITs are excluded from this analysis. Over 3 million data points have been reviewed in creating this analysis. As the old slogan goes - "we do the work, so you don't have to'.
'CARP = CONSISTENCY-AT-A-REASONABLE-PRICE' - Our findings will not surprise long-term investors in Japanese equities; the simple asset allocation decision to prefer domestic growth over global value has determined the quartile-ranking of many strategies in recent years. Although many of these Sectors, Peer Groups and stocks are now overvalued, we do not expect the underlying business dynamics to change in the years ahead and many excellent investment opportunities remain, especially down the cap-scale. Periodic and often substantial mean reversions in the more cyclical sectors, such as the one that has occurred in the last two days, will offer attractive trading opportunities for more-nimble portfolio managers. Longer-term orientated investors are better-advised to continue to favour 'consistency-at-a-reasonable-price'.  Some of our 'findings', as explained in more DETAIL below, are as follows: - 


SECTORS - The better investors in Japan over the last two decades have eschewed traditional manufacturing in favour of Services, IT/Internet, Retail, Restaurants and 'FB&amp;T'. Only Machinery and Electrical Equipment outperformed the market's 4% compound annual growth rate (CAGR) over the period.

PEER GROUPS- The most-consistent Peer Groups are found in industries associated with food, drugs, welfare, shelter and amusement. Only five of the top-forty Peer Groups - Online Payment Services, E-Commerce, IT System Services, Telecom Distribution Services and Internet Software &amp; Services belong to the 'new age'. There are no manufacturing Peer Groups in the top-forty. The best performing Peer Group is Securities Services, and the worst-performing is Investment Management &amp; Advice. Although both have similar levels of consistency, the stock exchange has beaten its fund managers by 28% annually since 2005.

COMPANIES - The simple average fourteen-year compound annual share price appreciation for all listed large-cap companies is +5.1%. For all listed companies the average falls to just +0.5%, highlighting the perils of investing in Japan's small caps. The average share price CAGR for our hindsight-selected top-forty is +18.7%. In contrast, only one of our forty least-consistent companies outperformed the market and the average for the least-consistent forty companies was a negative -3.2%.   Unsurprisingly, there are eight banks and six steel companies on the list, along with two glass companies and two shipping lines.

CONSISTENCY HALL OF FAME/SHAME AWARDS - We have selected one company from each of the most and least consistent lists as the winner of a 'Consistency Award'. Both are highlighted in the chart above. One of them will be as surprising to many readers as it was to us.  


Japan: Consistency Scores - Steady Eddies V. Rollercoaster Rides

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

Running thorough ideas presented by <a href="https://www.smartkarma.com/profiles/2531" target="_blank" data-smartkarma-citation="accounts:2531">Campbell Gunn</a> in his stronger yen insight <a href="https://www.smartkarma.com/insights/japan-what-to-buy-sell-if-the-rises-to-90" target="_blank" data-smartkarma-citation="insights:23168">Japan: What to Buy &amp; Sell if the ¥ Rises to 90</a> , we found a compelling pair trade set up in the form of long <a href="https://www.smartkarma.com/entities/9536" target="_blank" data-smartkarma-citation="entities:9536:1">Tsuruha Holdings (3391 JP)</a> and short <a href="https://www.smartkarma.com/entities/73" target="_blank" data-smartkarma-citation="entities:73:1">Toyota Motor (7203 JP)</a> as the relative chart is moving into an exhaustive low that sets up a good reaction rise to the tune of 20%.In absolute terms we see Toyota Motor moving into a top while Tsuruha shows risk of a final low to work into this pair position but has a very compelling bullish chart set up as Toyota fade from resistance.

Running thorough ideas presented by Campbell Gunn in his stronger yen insight Japan: What to Buy &amp; Sell if the ¥ Rises to 90 , we found a compelling pair trade set up in the form of long Tsuruha Holdings (3391 JP) and short Toyota Motor (7203 JP) as the relative chart is moving into an exhaustive low that sets up a good reaction rise to the tune of 20%.In absolute terms we see Toyota Motor moving into a top while Tsuruha shows risk of a final low to work into this pair position but has a very compelling bullish chart set up as Toyota fade from resistance.

Tsuruha Holdings/Toyota Motor Pair on a Stronger JPY

MARKET COMPOSITE
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/075/380/original/2019-01-13_13-31-55.png?1547353946" class="editor-image img-responsive" data-smartkarma-image-id="75380"></figure>
<div class="content-caption">Source: Japan Analytics</div>
NEW YEAR RALLY - From the December 25th's lows of 8% by number and 11% by value, the percentages of Japanese stocks above the weighted sum of moving averages have recovered to 14% by number and 20% by value - just on the 'buying zone' line. As we <a href="https://www.smartkarma.com/insights/japan-2018-market-review-bear-market-rally-ahead" target="_blank" data-smartkarma-citation="insights:26917">expected</a>, the Total Market Value has rallied 8.7% and looks to have some further to run, especially if the Yen reverses some of its recent strength. The Bank of Japan provided a 'helping hand' on both 4th and 10th January, the only days this year so far on which the market declined. 
<hr>
SECTORS
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/075/383/original/2019-01-13_15-22-47.png?1547360595" class="editor-image img-responsive" data-smartkarma-image-id="75383"></figure>
<div style="text-align: left;" class="content-caption">LEGEND: The 'sparklines' show the three-year trend in the weighted percentage above moving average relative to the Market Composite and the 'STDev' column is a measure of the variability of that relative measure. The table also provides averages for the breaks above and breaks below and the positive and negative crossovers.</div>
SECTOR BREAKDOWN - The top six sectors measured by the percentage above the weighted average of 5-240 Days remain, predictably, domestic and defensive - REITs, Information Technology, Media and Utilities continue from our previous review with Healthcare and Transportation replacing Food, Beverages and Tobacco and Internet Content &amp; Services. Equally predictable is the bottom half-dozen. Banks, Autos, Metals, Electrical Equipment, and Chemicals remain from 23rd December Moving Average Outliers <a href="https://www.smartkarma.com/insights/japan-moving-average-outliers-year-end-blues" target="_blank" data-smartkarma-citation="insights:26895">Insight</a>, with Building Materials replacing Non-Bank Finance. Over the last trading five days, however, there has been a noticeable reversal with Autos, Electrical Equipment, and Machinery all over '55' while Other Consumer Products, Restaurants, Telecommunications and Food, Beverages &amp; Tobacco are all below '40'.
<hr>
COMPANIES
COMPANY MOVING AVERAGE OUTLIERS - As with the market and sectors, our moving average outlier indicator uses a weighted sum of the share price relative to its 5-day, 20-day, 60-day, 120 day and 240-day moving averages. Extreme values are weighted sums greater than 100% and less than -100%. We would caution that this indicator is best used for timing shorter-term reversals and, in many cases, higher highs and lower lows will be seen. 
<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/075/382/original/2019-01-13_15-19-43.png?1547360415" class="editor-image img-responsive" data-smartkarma-image-id="75382"></figure>
<div class="content-caption">Source: Japan Analytics</div>
THE +/-100% CLUB - The number of extreme negative outliers reached a peak for 1,352 on December 25th and has since returned to 'normal' levels. We suggested in the previous Insight in this series that such an extreme number of extremes was a signal of a short-term bottom, which, so far, has proved to be correct.
<div class="content-highlight">
In the DETAIL section below, we highlight the current top and bottom twenty-five larger capitalisation outliers as well as those companies that have seen the most significant positive and negative changes in their outlier percentage in the last two weeks and provide short comments on companies of particular note. 
</div>

MARKET COMPOSITE

Source: Japan Analytics
NEW YEAR RALLY - From the December 25th's lows of 8% by number and 11% by value, the percentages of Japanese stocks above the weighted sum of moving averages have recovered to 14% by number and 20% by value - just on the 'buying zone' line. As we expected, the Total Market Value has rallied 8.7% and looks to have some further to run, especially if the Yen reverses some of its recent strength. The Bank of Japan provided a 'helping hand' on both 4th and 10th January, the only days this year so far on which the market declined. 

SECTORS

LEGEND: The 'sparklines' show the three-year trend in the weighted percentage above moving average relative to the Market Composite and the 'STDev' column is a measure of the variability of that relative measure. The table also provides averages for the breaks above and breaks below and the positive and negative crossovers.
SECTOR BREAKDOWN - The top six sectors measured by the percentage above the weighted average of 5-240 Days remain, predictably, domestic and defensive - REITs, Information Technology, Media and Utilities continue from our previous review with Healthcare and Transportation replacing Food, Beverages and Tobacco and Internet Content &amp; Services. Equally predictable is the bottom half-dozen. Banks, Autos, Metals, Electrical Equipment, and Chemicals remain from 23rd December Moving Average Outliers Insight, with Building Materials replacing Non-Bank Finance. Over the last trading five days, however, there has been a noticeable reversal with Autos, Electrical Equipment, and Machinery all over '55' while Other Consumer Products, Restaurants, Telecommunications and Food, Beverages &amp; Tobacco are all below '40'.

COMPANIES
COMPANY MOVING AVERAGE OUTLIERS - As with the market and sectors, our moving average outlier indicator uses a weighted sum of the share price relative to its 5-day, 20-day, 60-day, 120 day and 240-day moving averages. Extreme values are weighted sums greater than 100% and less than -100%. We would caution that this indicator is best used for timing shorter-term reversals and, in many cases, higher highs and lower lows will be seen. 

Source: Japan Analytics
THE +/-100% CLUB - The number of extreme negative outliers reached a peak for 1,352 on December 25th and has since returned to 'normal' levels. We suggested in the previous Insight in this series that such an extreme number of extremes was a signal of a short-term bottom, which, so far, has proved to be correct.

In the DETAIL section below, we highlight the current top and bottom twenty-five larger capitalisation outliers as well as those companies that have seen the most significant positive and negative changes in their outlier percentage in the last two weeks and provide short comments on companies of particular note. 


Japan: Moving Average Outliers - New Year Rally

Japan

TSURUHA HOLDINGS INC. is a holding company which manages subsidiaries that operate drug stores in Hokkaido and the Tohoku area.  The Company's product line includes drugs, cosmetics, and household utensils.

Price Gauge
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Tsuruha Holdings (3391 JP)

🇯🇵 Japan: Moving Average Outliers - AnGes, SanBio, Adastria, AIN, Sumco & Benefit One

- MARKET COMPOSITE - SOUTHBOUND - The upside we anticipated two weeks ago turned out to be only ¥6t before the harsh realities of some weak macro...

Campbell Gunn

Japan Drugstores Set to Expand Further

The drugstore sector has been the fastest growing retail sector after e-commerce in the last decade, boosted by the popularity of Japanese toiletry...

Michael Causton

Japan: Consistency Scores - Steady Eddies V. Rollercoaster Rides

CONSISTENCY PAYS - In troubled markets, investors often seek out companies with greater earnings stability and a history of consistent stock...

Campbell Gunn

Tsuruha Holdings/Toyota Motor Pair on a Stronger JPY

Running thorough ideas presented by Campbell Gunn in his stronger yen insight Japan: What to Buy & Sell if the ¥ Rises to 90 , we found a...

Thomas Schroeder

Japan: Moving Average Outliers - New Year Rally

MARKET COMPOSITE NEW YEAR RALLY - From the December 25th's lows of 8% by number and 11% by value, the percentages of Japanese stocks above the...

Campbell Gunn

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52-week Range

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