Boy, am I glad expiration week is over – those coke snorting Prozac popping market makers turned the whole affair into a veritable roller coaster ride on steroids. First the bulls got squeezed early in the morning, then the bears got their turn – and in the end the $SPX closed 2 points away from where it opened. Now, that’s what I call progress!
So, for the people who voted on our latest poll here’s the answer: A stack of 100 Dollar bills worth $1 Trillion would measure 678 miles high – it would basically reach low earth orbit. The current tab on the bailout considering all combined bailout/salvage actions (but not even counting the creation of those alphabet soup lending windows) are already adding up to about $1.8 Trillion. Therefore Ben Bernanke, our fearless Fed chairman who has so valiantly fought to lead us out of this credit mess, should be rightfully awarded his set of astronaut wings. After all he has thus far handed out a stack of 100 Dollar bills 1220 miles high. We should be so proud, as his accomplishments are truly reaching gallactic proportions.
Anyway, Berk will do the weekend update, probably sometime Sunday, in the interim take a look at this little dance the Bear enjoyed recently on Wall Street. I for one find this type of exhibition completely tasteless – that’s why I’m posting it – to share my outrage.