Quantitative easing, quantitative easing, quantitative easing! It’s a mantra, it’s a magic spell, it rolls off the tongue like a rhythmic incantation. It’s all that, plus 219 points worth of upside for your friendly, neighborhood Dow Jones Industrial Average. Is it getting hot in here, or is it just that I AM ON FIRE?!
My closing point value for today, 11434.84, is the highest I’ve been since Lehman Brothers cratered in the biggest bankruptcy in American history. It’s like it never happened! (Okay, that’s not totally correct, but I am feeling as good as I’ve felt since the horror show of 2008.)
Some people thought that I’d priced in the $600 billion in monetary stimulus from the Federal Reserve, but they were wrong! Ben Bernanke can still goose me. Ignore the naysayers.
Despite whatever foreclosure problems have sprouted up in the past few months, Bank of America and JPMorgan Chase were my biggest winners, each climbing more than 5 percent! Give me a Q! Give me an E! Give me a 2! What’s that spell? Money! Go, banks, go! Go, Bernanke, go! Quantitative easing, quantitative easing, quantitative easing!
Can’t wait to get going again tomorrow,
The Dow Jones Industrial Average