* Ben Bernanke is a real smart guy with a good idea for a numerical inflation target.  But investors were turned off by him when he testified before the Senate.  Just a guess: IRA and 401(k) owners may be worried that a one to two percent inflation target could be too close to deflation or recession.  Folks may be Fed up with Fed fatigue over Greenspan’s robo-cop, autopilot tightening moves.  Perhaps if Bernanke says he’s going to be just like Greenspan, does that mean the autopilot rate hikes will go on forever and doom the stock market? 

* George Bush could be bottoming, though it may take several months for this to become clear. But add up all the reasons why the Bush stock deserves a “buy” rating: 1) the economy is strong; 2) gasoline prices are falling; 3) the GOP Congress will pass a sizable tax- and budget-cutting fiscal plan; and 4) after another successful election in Iraq next month, at least 35,000 U.S. troops will be withdrawn in 2006.