Thursday, June 07, 2012


For the second day in 4 days, the S&P 500 index zoomed around and then returned to within exactly 0.14 points - or 0.01% - of its previous closing value. On Monday the S&P returned to 1278, while today the magic price was 1315. Supposedly today's action was driven by the early hopes, later dashed, that the Federal Reserve Bank would start another round of counterfeiting, or rather diluting your bank accounts, I mean "Quantitative Easing." Yeah, that's it.

There's nothing to see here, folks. Move along.

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