25 October 2007

The Bernanke Put

So if your a lover of volatility, this market is for you...the ranges have become explosive with huge volume to boot...Wednesday's action was remarkably similar to the bottoming action in August...another comeback today would have me thinking that we go higher and that Bernanke will do the market's bidding once again. A break of Monday's lows should see a steep drop and push bias more to a massive topping formation. The old adage goes that volatility picks up at market turns...we shall see...sitting in cash for now...jfg.

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