Flip, Flop and Friday – Options Expiration Spectacular!

Flip, flop & fly

I don’t care if I die

Don’t ever leave me

don’t ever say goodbye

Things were going according to plan (even though the plan was horrifying) and everyone was happy but then Uncle Ben had to screw it up this morning when “The Bernank,” speaking in Germany, indicated that the Fed would pull the plug on QE2 if they thought inflation would rise higher than “2 percent or a bit less.” 

WHA-WHA-WHAT?  Keep in mind that WE are the only country on the planet Earth that is still pretending inflation is under 2% and he’s making this speech in China, where inflation is 4.4% so what do you think happened?  

Of course, if you can answer that, you are smarter than the Wall Street Journal (but then again, who isn’t when it’s being run by people like Roger Ailes, who just said of National Public Radio: “They are, of course, Nazis.  They have a kind of Nazi attitude. They are the left wing of Nazism.”) who went with the headline: “Dollar Sinks Despite Chines Rate Rise” because they clearly do not understand the workings of International Monetary Policy, which I would find disturbing if the Wall Street Journal were a trusted source of financial information and not just a right-wing mouthpiece.  As our friend Jon Stewart so aptly pointed out last night, there’s a pretty large disconnect between Conservatives and reality these days and it should be no surprise to any of us that this carries over to their trading positions.  

Fortunately, PSW readers are well aware that any indication by The Bernank that the…