[expat_panama]

A merry morning everyone!  Yeah, I know stocks hung another distribution day on the line yesterday (now at five for both NASDAQ and S&P) but right now (2 hrs before opening) the all knowing futures traders say they'll make up for yesterday's third of a % drop w/ a nifty +1.16%!  They're leaving metals down -0.30% although gold and silver's atm priced up at $1,144.55 and $15.12.  The big deal today is [drum roll] GDP final! [cowbell/rimshot].  OK, but we also get the GDP deflator (inflation fed style) and Economic Sentiment.

More news:

• Bund yields rise after Yellen says Fed on track to hike  Reuters - hours ago (Updates with more detail, comments). By Marius Zaharia. LONDON, Sept 25 (Reuters) - German Bund yields rose on Friday after Federal Reserve chief Janet Yellen said she expected the U.S.
• Oil Prices Rise on Yellen Rate Comments, Supply-Side Factors   Wall Street Journal
• US stocks close slightly lower, ahead of Yellen's speech on inflation Moneycontrol.com - 7:33am Investing.com - Investing.com -- U.S. stocks rallied late in Thursday's session amid hopes that Federal Reserve chair Janet Yellen could strike a dovish tone in an appearance after the close of trading, but still closed slightly lower on a volatile day
• September 24, 2015 Inflation Dynamics and Monetary Policy Chair Janet L. Yellen At the Philip Gamble Memorial Lecture, University of Massachusetts, Amherst, Amhearst, Massachusetts [her actually speech]

[citizen]

DJ Futures +248!
Happy days are here again!!
At least until this afternoon.

[citizen]

I scan thru Yellen's speech & footnotes....we find "expect" - expect expected unexpected expectations - 75 times.

That's a lot of talk covering various economic topics and trends. Any particular part can be trotted out to CYA no matter what happens over the next few months. "Janet Yellen said in her Sept. 24 Amhearst speech...."

[abb]

http://www.marketwatch.com/story/stock-investors-havent-been-this-bearish-in-15-years-2015-09-25?dist=beforebell

Opinion: Stock investors haven’t been this bearish in 15 years
By Mark Hulbert

Published: Sept 25, 2015 5:01 a.m. ET

Bearishness has reached an extreme not seen at least since the top of the Internet bubble in early 2000.

Yet this is a bullish omen, according to the inverse logic of contrarian analysis: Extreme levels of bearishness indicate that there is a very robust “wall of worry” for the market to climb.