I have positioned some money in EWV, the Inverse ETF Utrashort for MSCI Japan. I liked buying today at the prior night's relief rally as the price seemed to be good. The prior Kobe earthquake had the Nikkei go down about 25%. I feel that the Nikkei is good for another 15% down. Anyhow I am not error free in my decisions, nor am I a professional investment counselor. So the choice is yours.