Don't believe all the central banking hoopla?
You're not alone.
Here's the latest way to play the breakdown in central planning via Hedgeye CEO Keith McCullough in a note sent to subscribers this morning:
"The yen is down -0.2% vs. USD this this morning at 113.72 and that registers an immediate-term TRADE oversold signal inasmuch as Nikkei signaled immediate-term overbought late last week (buy Yen, short Japanese stocks remains our current view there as the #BeliefSystem in central-market-planning breaks down)"
To be clear, Japan's central planners can't arrest economic gravity. That's why we think the recent rally in Japanese stocks will prove short-lived.
Here's the abbreviated tip via Twitter McCullough sent to Real-Time Alerts subscribers yesterday:
Meanwhile ... things aren't shaping up too well in Europe either, where Draghi is attempting to save Europe's deteriorating economy. According to McCullough:
"After an ugly last week, equities are trying to bounce but unimpressively so post the Easter break – Italian Stocks (MIB) were -2.4% last week and +0.6% early this morning, but -14.6% YTD and still in crash mode -24% vs. this time last year when many thought European growth was going to be just fine (its consistently slowing now)"
How about Italy?
Other European markets off significantly from their 52-week highs?
France (CAC 40): -17.7%
Germany (DAX): -20.7%
Spain (IBEX): -26.0%