On-going, Unfolding Disaster in Japan

News out of Japan is getting worse by the minute. Despite Bank of Japan throwing 15 trillion yen ($182 billion) to prop up the market, Nikkei is currently down 657, to 9,596.

I have no doubt of Ben and Timmy's power to prop up the US market, but frankly, I don't care. I have my friends and families and relatives in Japan, and I am too busy blogging on my other blog on the March 11 earthquake/tsunami disaster with information from Japanese news sources. I don't think I would be very much actively trading near-term. I'll hold what I have, which is gold/silver ETF and ETN, iron ore company (MTL), USO calls, VXX, and short AMZN.

Too bad I don't have any re-insurers. Or maybe none of them is public. I just don't know. General Re is a Warren Buffett company. Munich Re is traded on DAX, but it is also 8% owned by Warren Buffett. Hmmmm.

Last I checked, Yahoo SKF MB is still trolled by some jerks spewing venom, so the trend on this indicator remains down. Good luck, and batten down the hatches. The market will go down, if not tomorrow then later but it will go down. IMHO of course..

And don't, for a moment, think it's about Japan only. Financially, Japan is a huge market. Money and credit flow in and out of Japan will be severely impacted. China may have surpassed Japan in terms of national GDP, but in financial market size and complexity, it doesn't compare.

For your TA enjoyment, here's Breakpoint Trades guys' weekend newsletter (free, you can subscribe yourself, they are good).

If you are so inclined, please donate to your local Red Cross or Red Crescent or equivalent, or whatever charity that you prefer that is collecting money for the earthquake/tsunami victims in Japan. Japan is a rich country, but not rich enough to pay comfortably for such a disaster. Food, water, and fuel are in severe shortage in the affected area, where the night-time temperature drops below zero (Celsius).