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Our 'Yellen Strategy' for Friday

By: Rick Ackerman, Rick's Picks

 -- Published: Tuesday, 11 October 2016 | Print  | Disqus 

Nervous shorts are providing just enough buying power to keep stocks buoyant for weeks on end even though there are few other bidders. Mr. Market need only bide his time until the next Fed announcement, when, no matter what is said, Wall Street’s best and brightest will reflexively construe it as reason to goose stocks to new all-time highs. Will the Masters of the Universe be able to sustain altitude until the Fed’s clown-in-chief, Janet Yellen, steps up to the microphone this Friday?  Probably.  But if the usual result obtains and the broad averages do spasm higher, we’ll take the odds on a bull trap and load up on puts for Monday. Visit  Rick's Picks'  24/7 chat room and share timely ideas and real-time results with great traders from around the world. Click on the link for a free trial subscription.


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 -- Published: Tuesday, 11 October 2016 | E-Mail  | Print  | Source: GoldSeek.com

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