And turning in and turning around
--The Vapors
After last night's ~ 4% giveback, the Nikkei is now more than 15% off its highs from only two weeks ago. We are also now approaching a 38% retracement of the move from November.
Whether Japanese stocks find support here remains to be seen.
position in SPX
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
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Admiral Isoroku Yamamoto: I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve.
~Tora, Tora, Tora, 1970
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