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Two Ways To Play: Bernanke, Paulson Want Christmas in September


Strengthen your portfolio in good times and bad.

The US economy will contract if the markets don't begin to function normally explained Federal Reserve Chairman Ben Bernanke. According to Bloomberg, he and Treasury Secretary Hank Paulson urged lawmakers at a Congressional hearing today to quickly pass the $700 billion rescue plan to bail out the nations' financial institutions.

"Jobs will be lost, the unemployment rate will rise, more houses will be foreclosed upon, GDP will contract... The economy will just not be able to recover," Bernanke said. "My interest is solely for the strength and recovery of the US economy."

Treasury Secretary Paulson added that "we must now take further, decisive action to fundamentally and comprehensively address the root cause of this turmoil."

But a number of lawmakers balked at the proposal with Democrats demanding that support for homeowners and limits on executive compensation be included in the plan. Republicans also expressed frustration over the size and scope.

From the Bull Pen: Today's dip in the gold miners ETF (GDX) was a great opportunity. But the yellow metal has much, much more room to run if this plan falls through. Bulls can consider sell stops near $36.50.

From the Bear Cave: We noted concerns in the consumer discretionary sector on the Buzz today. Bears can consider Brinker International (EAT) for a downside play. Buy stops can be set above $19.
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Position in GDX

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