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Maybe the surest trade in the market is becoming the "Bernanke Short" trade that occurs everytime Diva Ben opens his mouth. The guy has got an eye for the camera, and has quickly become a media-hound who is desperate to see his face on the television. With the pace that he is on, I actually expect there to be Bernanke sex tape leaked to TMZ in the coming weeks, or perhaps he'll star in his own reality tv show called "Wreck My Country!" with a guest appearance from Paris Hilton.

Everything was going fine today - the bulls had control and was trading above the 20-day moving average, then in his glorious ways, Bernanke talked and the market balked. Check out the chart to the right and you'll see that as soon as he took the stage, the market once again went right down the crapper.

Then as soon as Bernanke was done with his PR stunt, he dressed up in his evening wear, and did another round of quantitative easing.

 
He thinks no one knows its him, but scrape that face paint off and you have...

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Comments  

 
0 #1 NS 2011-06-22 20:46
Last hour Market action is confusing today..
Because in the last few weeks we saw the sell off ..If that was because of Greece then it ended on Monday because market rallied Monday & Tuesday.
Today we did not see the sell off when Fed cut the growth forecast rather Market started selling off after Bern’ke finished his Q&A..So that means people were expecting QE3 from Bern’ke? If that is the case one can assume this rally is over?
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0 #2 susie 2011-06-23 05:33
very creative Ryan. it was quite a performance for the q/a session, used it to exit my TZA. another test of 1275 here and important end of qtr in a few days. Q/E 3 talk is just premature rhetoric at this point. imo
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0 #3 RyanMallory 2011-06-23 08:04
NS - you are looking spot-on with your analysis - hard sell-off we are seeing here going into the open.

Susie - I agree - I don't think we'll be seeing any kind of QE3 in the near future, but when politicans have their backs against the wall, who knows what they are capable of, in terms of more spending.
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