Trading on Rising Japanese Radiation Levels (EWV, EWJ, GEX)

Japanese stocks tumbled during trading in Tokyo on Monday, amid growing fears that the country's food and water supplies have been contaminated from radiation that is leaking from the Fukushima Daiichi nuclear power plant that was damaged by the powerful earthquake and tsunami that hit Japan nearly two weeks ago. Most of the news coming out of Japan on Wednesday was bad, which led to a 158.85 point, or 1.65%, fall to 9,449.47 for the Nikkei 225 index of Japanese stocks. Tokyo's tap water was reported to be unsafe for consumption by infants, with radioactive iodine levels more than double the recommended limit. Although infants are at much greater risk than adults if they drink the water, the idea of a radioactive water supply in the capital of one of the world's most important economy's isn't going to help increase confidence the among the general public or investors. The United States has already announced a ban on certain milk and food imports from areas near the Japanese nuclear power plant that was badly damaged by the tsunami and has suffered a series of setbacks as workers try to prevent a nuclear meltdown. Workers have been exposing themselves to great danger in an attempt to cool the reactors at the Fukushima Daiichi nuclear power plant. However, workers were evacuated from the power plant after black smoke was seen rising from it. Just as it seemed progress was being made at the nuclear power plant, the evacuation of workers from the plant, reports of radiation in Japan's food and water supply and the United States' banning of some Japanese milk and food products makes the situation look even more precarious than before. Just yesterday, there was talk that the recent lows of the stock market created a buying opportunity but now investors aren't so sure. If Japanese stocks continue their slide, ProShares UltraShort MSCI Japan

is an ETF that could see significant gains. If the Japanese manage to get past these problems and turn things around soon, the iShares MSCI Japan Index Fund

could be a profitable investment. As Japan's radiation problem grows, nuclear power is getting less and less popular around the world. The Market Vectors Global Alternative Energy ETF

could see big gains if the nuclear disaster in Japan leads to calls for the increased use of alternative energy sources like solar and wind.