Thursday, February 15, 2007

"Market Surge" on Bernanke's Remarks? Nope

A money-manager makes an observation which utterly voids the MSM yappa-flappa:

While the media discussed how much the markets liked Bernanke's comments, the Trader in me just snickered. Like many of you, I saw the big buyer of SPX futures at 9:59am -- he lit up the markets long before any human had the ability to read Bernanke's comments and determine they were dovish on inflation. It was just a well timed program,...

...but the last thing that reporters will understand is the 'actualities' of business. See, e.g., the satisfaction with slamming profits of oil companies.

HT: The Big Picture

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