The Maniacs of Wall Street seem to have mellowed, taking Wednesday’s 25-basis-point rate hike by the Fed literally in stride. Stocks moved steadily higher during the day, accelerating on the news. It’s not as though the Maniacs were unprepared for it. As one talking head noted on MSNBC, Yellen had all but marched the central bank’s intentions down Main Street, brass band in tow, to alert the faithful and the gullible. Now, expect the halfwits who turn press releases into front-page “news” to effuse over how brilliantly our expectations have been managed by Yellen & Co., while saying nothing about the epic, transparent fraud of the central bank’s decade-long attempt to grow an economy with money rained down from the sky.  And grow it has, assuming you consider runaway asset inflation to be growth.  There’s a debt side to all of this, by the way — but hey, who cares with the Dow trading at record highs?  As for the E-Mini S&Ps and the broad averages, we’ll continue to forecast their crazed behavior one lurch at a time. The former recently topped at a potentially very important target, and that’s why we bought some DIA put options while the Maniacs were celebrating the 25-basis-point tightening. We’ve got a bid in for a few more puts if stocks should go just a smidgen higher.  Meanwhile, the June E-Mini looks like a great bet to reach the 2403.00 target shown (see inset). That’s slightly above the record high recorded on March 1, but still within the bounds of a possible double-top bull trap.