Anarchy and Confusion

Well, it turns out that consumer credit was a market mover today.

After setting a new high for the three-month cart, blue chip stocks (SPY) began to fall about 15 minutes before the release of the economic report, and continued to tumble thereafter.

Altogether, the price traversed 0.8% high to low.

So, what a mix:

Consumer credit is down. We won't shop till we drop anytime soon.

Fed Chairman Ben Bernanke says we aren't out of the wood yet on the economy, so maybe the FOMC won't increase interest rates anytime soon.

But, Kansas City Fed Chairman Thomas Hoenig talks up an interest rate increase, saying the FOMC should abandon its present zero-percent rate soon.

It's like Treasury long-term bonds (TLT) are listening to Bernanke and the consumer credit report, and stocks are listening to Hoenig.

Anarchy! Confusion!! I love it!!!