When Bernanke’s testimony hit the wires yesterday, we didn’t find that much to freak out about.
But the market’s freaked out, and so it was then very easy to find things in there that sounded bad: He’s too bullish! He hasn’t specified what his bullets are! The sky is falling!
And now the market’s up big, easily erasing yesterday’s Bernanke-induced fall.
But we still have a Fed chair who’s asleep at the wheel, right? Well, whatever. Caterpillar, UPS, and MMM all beat earnings, so it doesn’t matter.
Now, pointing out that the market seemingly acts bi-polar isn’t much of an insight, except that you should be reminded not to queue off the market all the time, when trying to find meaning in the words of one man.