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Who cares??? ITS A GREAT TRADING DAY!!! :p

And Mr. Rennick said go short at 2:34PM EST. Ouch! :eek:

Correct. If you went short at 2:34 EST., you just watched your ES arse get handed to you to the tune of 27 handles in 25 minutes! :eek:

Bernanke must be an EWT follower. :D He just told the chiefs of Fannie and Freddie that they are eligible to borrow from the discount window!

LMT, LLL, GD, NOC,a nd CRDN all acting super bullish today.

The above would target 1203 in which 5=1. 74 points = Wave 1 ( 1404 - 1330 ) 1277 - 74 = 1203 or .618 ( 74 ) = 1232

Seriously . . . Who cares? The guy turned bullish back in Sept/October when he said that the FED finally "gets it". I'm surprised that anyone actually gives a rat's ass what this guy says . . . but I guess here on ET there are still a lot of people that care.

And you're LONG the UYG from $29.00 Good Luck. :D

Investor's Intelligence Bullish Sentiment at 27.4% ( as of July 9th ), lower than the October 25th, 2002 lows. Bears at 47.x% NOTE: Bulls were at 31.1% week of March 14th, 2008 ( Bear Stearns lows ).

Ameritrade/iZone gives you rock-bottom commissions ( $5.00 per trade ), but you are not allowed any telephone support. It is for Internet based trading, and any communications are via e-mail. http://www.izone.com/costs.html

Investors Intelligence Sentiment spiking to levels worse than the October 25th, 2002 lows . . . Only 27.4% Bulls as of July 9th. And 47.x% Bears as of July 9th.

Yep. And according to banking analysts at Fox-Pitt Kelton ( Howard Shapiro ) Fannie and Freddie would have to post pre-tax losses and writedowns of about $77 BILLION before the U.S. would be compelled to start a rescue. Fannie Mae would need to lose $40 billion ``immediately'' and Freddie...

http://www.bloomberg.com/index.html?Intro=intro3

Paulson said nothing. They are just "monitoring" the situation, as usual. He didn't even use the word "bail-out" in his official statement. And the analyst at Fox-Pitt, Howard Shapiro says that Fannie and Freddie would have to take pre-tax losses of $77 BILLION in order for the Govt. to...

You need a class in reading comprehension. No where in Paulson's statement does he use the word "bail-out". Read it again, my friend.

So why are you still LONG the UYG ( financials ) as it drops another 5% to $17.60 ? The UYG has been cut in HALF since May 1st. Did you not purchase the UYG back in May at $29.00 ? But you just love trying to pick tops and bottoms, don't you? Ever heard that the TREND IS YOUR FRIEND...

Paulson just made a public announcement regarding Fannie & Freddie and the word "bail-out" was not used in his statement. Hmmmmmmm . . .

Bullish Sentiment: 27.4% Bearish Sentiment: 47.3% some nice big surges in these numbers this week. http://www.schaeffersresearch.com/streetools/market_tools/inv_intel.aspx Investor's Intelligence

I find a lot of VALUE in looking for "measured-moves" and "a-b-c" countertrend moves within a technical framework. For example, the other day we had an "a" rally that was 16.5 points in the SPX followed by a "b" wave pullback that found support at a fibonacci retracement ( 1249.37 ), and then...

The Internet "bubble" was only one sector of the Economy and occurred while the Federal Govt. was still working with a budget surplus. It's a whole different ballgame now with fuel at $140 per barrel and Fannie Mae literally being "insolvent" during a time of huge federal budget deficits...