And the Japanese Situation gets worse

China just announced low levels of radioactive iodine 131 (the type that causes thyroid cancer) over the northeast Heilongjiang province. If I'm Japanese, I'm not going out for sushi any time soon.

Contamination has also been detected as far east as the US eastern seaboard.

Meanwhile Tepco annonces there may be holes in the last line of defense, the steel reactor pressure vessels, in reactors 1, 2 and 3! While there's a inlet into the bottom of the vessel to insert measuring devices (they believe the holes are near the bottom as sea water is leaking from the pressure vessels) which Tepco thinks may be the source of the leak, a more dangerous possibility is that of the actual fuel rods having melted. In this scenario, the molten fuel rods would collect at the bottom of the pressure vessel and would become extremely difficult to cool as there would be very little surface area for water contact.  Things are going from bad to worse very quickly. Our EWV ETF trade is looking better by the hour, as is our March 2nd EGPT short.