One Two Three & Done (The Sucker Play)
Once again, the One & Done crowd has managed to pull the PermaBull traders into a long side bet, following the spin 2 weeks ago after the March FOMC minutes were released, and last week's JEC testimony by Fed Chair Bernanke.
Over the weekend, Fed Chair Ben Bernanke told CNBC's Maria Bartiroma at the White House Correspondents Dinner that "No, the market did not get it right" after his recent comments.
Once again, the One & Done play was a sucker's trade.
What is this, the 4th or 5th time? Great Caesar's Ghost, even a puppy learns not to pee on the carpet after he gets rapped with a rolled up newspaper twice. These traders have been getting bitch-slapped around like they are Wile E. Coyote and the Fed Chair is the RoadRunner. Its astonishing that the same suckers keep coming back for the same abuse. Get some help, get into a support group for abused
This does go a long way in explaining the new Fed Chair Curse -- perhaps it takes a while before the Chairs learn they are not still in Academia or where ever; it took Greenspan a long time to learn to speak for 4 hours straight -- and say nothing. I suspect it may take Bernanke a little longer to learn the dark art of obsfucation . . .
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One Two Three & Done (The Sucker Play):
maria is the subject of much screaming on chat boards but my guess is she mistakenly gave traders credit for more brains then was realistic, assuming that anyone with a high school diploma and an e trade account would realize that the dovish comments from last week were not a tradeable event in light of the surging oil prices and plunging dollar. I doubt if she had any idea that her comments weren't common wisdom.
Posted by: rob | May 1, 2006 4:30:32 PM
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