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Wednesday, September 23, 2009

Notice Anything about Media Headlines?

I checked about 5 mainstream sites.

Its all quiet on the selloff of the afternoon.

Generally every time the market farted downward 10 SPX points they are quick to paint a "the market cannot sustain", or "the rally is over", "here comes the big correction!".

Tonight? Silence. Maybe the media has finally been mesmerized.

They are all caught up in Mergers and Acquisitions rumors and IPO's and all that old bull market crap.

They are strangely silent on a DOW 177 point drop in 90 minutes and closing near the low.

"I think there will be a lot of upside surprises," Kleintop said. "In the second-quarter, we saw better-than-expected earnings mostly on cost cutting and little revenue growth. This time we'll still see the impact of cost cutting but I think we'll also see revenue growth."

In fact $BPSPX bullishness stayed at a near record high of 88.6 Its a perfect bear setup.

5 days of choppy gains wiped out in about an hour. Yet silence.

P3 is nothing to be toying with.

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