Nikkei Opens Higher On Thursday

After closely following the futures and Nikkei reports from Reuters, I fully and completely believe that the financial journalists are making it up as they go. They are flying by the seat of their collective pants, skirts, garters, and thongs. Completely unnecessary to say thong, but its such a charged word.

This very morning - Wednesday - the word was that the Fed interest rate removal was passe and at that time investors feared the worst, the return to economic Armageddon.

Now Wednesday night, the Nikkei is up allegedly because of the Fed interest rate removal.

You can't have it both ways and you can't change after the dye is cast, thong or not. If investors are over the Fed interest rate removal and futures are down, fine, but don't resurrect it to explain why the Nikkei is up.

Reuters: Nikkei edges up as banks gain, Honda and Sanyo drop

The Nikkei average rose 0.7 percent on Thursday, as bank shares sustained gains after a rate cut by the U.S. Federal Reserve, though Honda Motor slashing its profit forecasts in its third warning this year.