NMR... Bouncing Off Support?

Our Japanese green investment, bank Nomura, almost stopped out on us yesterday but rebounded before the close and is surging today, too, like much of the markets in the wake of BB's surprisingly aggressive rate cute.

Looking back, it becomes apparent that the stock may have found some technical support around $15.60. Just take a look at the chart and you'll see a big selloff down to about $16 back in November of last year, and a subsequent spike in demand for the shares shortly thereafter.

The recent dip has come on heavy volume, as volatility -- and questions over the credit cycle -- have rocked the markets and left the financials in bad shape all around.

Could we be looking at the beginning of a nice run-up for NMR? We can only hope. Take a look and see how the recent low (and our Trailing Stop) coincide almost perfectly with the stock's long-term support levels:



Good investing,

James