The idea that anything Bernanke said today was worth 200 point on the Dow is a bit nuts.
If anything today's action shows that the market is still awash with inflationary "liquidity" and Bernanke is nowhere near finished with his job of raising rates and draining the system of the hyper-liquidty that Greenspan left behind.
Furthermore, it is not exactly clear what, if anything , a "pause" would do for this market...?
The market does not lack for liquidity...if anything it's awash in excess money...!
Corporations are flush with cash... M&A activity is rampant and wild. Gold and Oil are still high... And the dollar is still weak...
THESE ARE ALL PROOF THAT BERNANKE SIMPLY MUST KEEP RAISING RATES INDEFINITELY....
I really find today's action shocking and a little bit pitiful...
The hedge funds and market traders are so "cocked and loaded" to make a quick dime...that no body is thinking about the longer term... But did they ever?
This market and the major averages have been rallying for months....and they still aren't getting anywhere...!
THE MARKET'S IRRATIONAL ACTION TODAY IS ALL THE PROOF BERNANKE NEEDS TO KEEP SERVING UP THE "BLACK COFFEE" OF HIGHER RATES ....TO A TRADING COMMUNITY THAT IS STILL WIRED, HYPED AND DANGEROUSLY AWASH IN EXCESS CASH...
