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Grandma Yellen, social media stocks and Greenspan July 15, 2014

Posted by hslu in Congress, Economics, stocks.
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It took 4 long years for the broad stock market to react to Greenspan’s famous ‘irrational exuberance‘ remark on December 5, 1995. Dow moved up 81% while the NASDAQ soared 200%.

Grandma Yellen today (7-14-2014) followed Greenspan’s footstep and tried to guide the stock market forward with the ‘substantially stretched’ comment on social media and biotech stocks.

IBB was down 2.2% at the close.

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FB was down 1%.

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Will Grandma Yellen beat Grandpa Greenspan’s record? We shall find out.

I wonder who gave Granma Yellen stock trading tips or was she watching CNBC ‘Squawk Box’ before her photo op in the Congress?

What will she say tomorrow in front of the Congress? Which industry will be in her cross hair tomorrow? May be I can short IBB if she mention the biotech stocks again.

LOL.

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