Bulls are Back in Tokyo? Nikkei 225 Off to Strong Start

The Nikkei 225 is up 260 yen, or 1.5% to 17,655 in morning trading. It has traded as high as 17,713. There’s plenty of reasons to be bullish, in general, following the four-day weekend. Look to the U.S. where there’s a new Dow record practically everyday and the S&P 500 hitting 1,500 again. Don’t forget about the M&A action and rumors! Also, the yen is trading around 120 against the dollar and even more impressively, it is trading at an all-time low against the euro. If this holds, it bodes very well for exporters and especially a stock like Nintendo (JP: 7974) (NTDOY.PK), which offered conservative guidance (having forecast less advantageous forex rates).