Helicopter Ben Crashes...Again
Maybe the surest trade in the market is becoming the "Bernanke Short" trade that occurs everytime Diva Ben opens his mouth. The guy has got an eye for the camera, and has quickly become a media-hound who is desperate to see his face on the television. With the pace that he is on, I actually expect there to be Bernanke sex tape leaked to TMZ in the coming weeks, or perhaps he'll star in his own reality tv show called "Wreck My Country!" with a guest appearance from Paris Hilton.
Everything was going fine today - the bulls had control and was trading above the 20-day moving average, then in his glorious ways, Bernanke talked and the market balked. Check out the chart to the right and you'll see that as soon as he took the stage, the market once again went right down the crapper.
Then as soon as Bernanke was done with his PR stunt, he dressed up in his evening wear, and did another round of quantitative easing.
Here's the home video capturing Big Ben doing a little QE2.