FED ACHIEVES HIGHER PRICE GOALS
Do higher prices for "stuff" make you feel better about things? Only Chavez or Ahmadinejad would be happy since PC NIMBY American's keep being self-destructive. And, if you're an American you've probably forgotten we have an entire Department of Energy which has only produced more bureaucrats and patronage then more energy. You see folks, whenever there's a problem with something important (energy, education, banking and etc) we just create a new agency or department and assume it will get fixed. What a bunch of suckers we are!
There is only one thing innocent citizens/investors can do--get long whatever it is they say they're "fixing". In this case that would be commodities and oil.Not much happened Wednesday beyond higher prices for stocks and commodities overall. There were two light POMO actions just to keep things well-lubed for the few traders remaining. Volume was half-day like while headlines scream "markets post Lehman highs" and etc. Breadth per the WSJ was positive once again. Continue to U.S. Sectors, Stocks & Bonds