Fast Money

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Fast Money

No. 3 - Bearish Pattern Forming?

The market has had a tremendous run this year. Now some investor ask, “Are we at a double top?”

Dylan Ratigan explains a double top is when the market peaks out, falls back and then peaks out again.

Eric Bolling says don’t be fooled – the current double top is a sucker’s top. Although it’s a technical double top – Eric explains there are only 5 days of separation between the peaks.

Eric adds he sees some short term negatives – but remains bullish long term.

Bearish Pattern Forming?

Jeff Macke says the trade is to get long stocks when the S&P gets down to about 1490, but if it breaks get out.

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Trader disclosure: On June 26 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:Macke Owns (GTRC); Bolling Owns (NMX), (MPEL), (ICE), (T),; Bolling Has Closed Out Of His S&P Futures Short: Bolling Has Closed Out Of His Nasdaq Futures Short: Najarian Has Closed Out Of His Long (.VIX) Trade; NBC Universal Is The Parent Company Of CNBC