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Monday, March 26, 2012

Ben Said Puff, And We Have A New High

Ben Bernanke made a rare Monday morning dovish speech regarding the job market and boom, big green gap up this morning, and as I write, the market is making new highs on the hinting of QE3.  So Bernanke have decided to get in bed with Obama all the way.   It certainly feel that the bears are being conspired upon.  Elsewhere, Dr. Fly is only 7% cash, meaning 93% long.   That certainly doesn't help the bears.  $BPCOMPQ's buy signal will be even stronger after today for sure.

SPY is currently up 1.27%, VXX down 8.36%, and TVIX continues its double digit drop, down 15.22%.

It looks like SPY will likely target 141.89 next.

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