NAK taking a hit from world events. Technicals show 14 Day MA has crossed 50 and is a Bearish signal. OBV up slightly today despite the selling.

S&P and Dow feeling the pain of Japan, both down more than 1% at this time. Definitely not a Mutual Fund Monday. The 14 day MA and 50 day are converging, which has not happened since end of November. Then there was a pop to start December, but will that happen this time... May is likely more downside, at least in the short term. CHK doing well. MTU, a personal fave, is getting hammered. Anyway, might want to stay away from any insurers dealing in Japan, but there are many other opportunities out there concerning infrastructure plays. Big Fed meeting tomorrow over QE2 and how they will end it (might pay close attention to this). CVX and HPQ have analyst meetings, so could be a tell on which way things are going for those groups/sectors. Be careful in your choices and stay diversified.

Gold popped above $1430 overnight at open after the weekend. Trending back down to range of Friday's NYMEX close. Sold off a bit at Hong Kong open and then trending up after close of Sydney. NYSE seeing folks going to gold at this time. GLD technicals show a gap up with OBV slightly Bullish while Stoch and Mac are going Bearish. Of the gold miners, only showing ABX and NG up earlier (since have gone to the down side), but I do not watch all miners.

World Markets - Nikkei (Japan) down big because of earthquake and tsunami and fears of nuke meltdown (not likely), Han Seng (China) up slightly, Sensex (India) up, DAX (Germany) down a touch, FTSE (UK) flat. Couple of stocks on Nikkei, Tokyo Electric Power Company (the Nuke Disaster folks) and Japan Rail-East (the Bullet Train boys), went to no bid. That's, uh, really really bad for those two.

Hope all had a good weekend.