O'Neill can significantly move the yen in either direction with one small sentence,

Concerns that direction could be a firming of the yen has investors a bit wary of holding export-oriented shares.

Look for retail investors and brokerage dealers to pinpoint individual shares that are liquid and carry a theme.

The fog has died away.

Domestic institutions were looking for reasons to unwind a good slice of their long positions in the tech sector. The yen and the Nasdaq gave them two very good ones.

Stocks with higher dividends keep luring investors ahead of the fiscal year end.