Bernanke 1PM today.

Quote from pumpanddumper:

Let's hear the truth today pinocchio. Time to take a mini nose dive or "correction"? Triple digit decline in the DOW today?
I'm feeling it....
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Sideways action until Bernanke speaks, (and says absolutely nothing) then up up and away! We should test all-time high today.. :)
 
The truth on the spx is lower highs and lower lows. The top was put in on June 4th and it will slowly wind its way down. Slowly, but surely and hopefully not like 1987 which is the exact way the chart looked 20 years ago today.
 

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Quote from michaelscott:

The truth on the spx is lower highs and lower lows. The top was put in on June 4th and it will slowly wind its way down. Slowly, but surely and hopefully not like 1987 which is the exact way the chart looked 20 years ago today.
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Agreed
 
no matter what bernanke is going to only talk positive, this minor dip this morning in my opinon will be green by mid day. Im 50% short and about 25% long with another 25% in cash. There is no way they are going to stop this market now.


Another thing is HD, haha, what a joke, bad news out and they decide to buy back some share sending the stock higher????

HMMMM!!!



HD and SHLD showing very disappointing numbers, not good at all!!!
 
Quote from michaelscott:

The truth on the spx is lower highs and lower lows. The top was put in on June 4th and it will slowly wind its way down. Slowly, but surely and hopefully not like 1987 which is the exact way the chart looked 20 years ago today.
More...


as much as I want to agree I cant....I doubt we see anything like that, the whole world is bullish now, if 1987 drop would happen today you would see emerging markets sell off 50% easy in 1-2 months without a problem.
 
1987? Bro, I was 5 years old in 1987, this is a WHOLE new world now. :D

Everyone knows when Bernanke speaks there's all this free money.
 
I want to address both posts above:

1.) "The whole world is bullish now." The whole world was bullish before every notable pullback, panic and/or crash. They were bullish in 1987 and the 20s. They were bullish in 2000. In fact, in 1987 the world markets and the DJIA had good runs before the crash. The indexes had been churning higher and then all of a sudden, whoosh...

2) "The world is different now." Wasn't the world different in 1987 then it was in the 1920s? Wasnt the world different in 2000 then it was in 1987? In every notable pullback, panic and/or crash the world was different then before yet they all seemed to happen and usually with the same chart patterns.
 
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