Bears were cowed yesterday by the Fed’s dog-and-pony show, too scared to deliver the haymaker when it appeared the Dow was setting up for a 250-point plunge. After being down 160 points, the Indoos rallied back to nearly unchanged. But DaBoyz are going to find this nifty little trick more difficult to perform today without an assist from algorithms that instruct the stock market to turn rabid three nanoseconds after the latest iteration of Fed-speak hits the tape. _______ UPDATE (3:59 p.m. EDT): With the Dow about to close down more than 200 points, this “Thought for Today” appears to have gotten it right.
