Safe Haven | Second-Guessing the Fed::
disappointment for oil bulls and currency traders, the one-way bet of lower bond Under Ben Bernanke, the current Fed has no experience thus far in
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Stocks made up most of Tuesday's steep losses Wednesday on hopes that the Federal Reserve will cut interest rates when it meets next month.
A letter from Fed Chairman Ben Bernanke to Democratic Senator Charles Schumer of New York said the Fed is "prepared to act as needed" to keep the credit market crisis from spreading, and he also urged government action to stem the meltdown in the subprime mortgage market. Bulls, Bears and Buffett - Barrons.com::
Some traders like the rate cuts while others are still go nuts fighting the Fed. The Bernanke put is bigger than Greenspans. on Our Bearish Bets
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The result was 2% gains in the major stock indexes, with the Nasdaq up 2.5%, with Intel, Apple and Research in Motion among the biggest winners. Commentary: How Alan Helped Ben::
Chart: The Battleground: Bulls vs. The Bears. Lender Woes Go Beyond Subprime Yet I bet Bernanke is mouthing a silent thank-you to his predecessor.
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Nokia soared 7% after announcing an online music service, and Seagate gained 4% after raising guidance.
Semtech jumped 10% on its results, and Compuware rose 6% on a share buyback.
Sourceforge lost 24% on a downgrade.
The Nasdaq soared 62 to 2562, the S&P 500 rose 31 to 1463, and the Dow surged 247 to 13,289. Volume declined to 2.82 billion shares on the NYSE, but rose to 1.7 billion on the Nasdaq. Advancing issues led by a 28-4 margin on the NYSE, and 23-7 on the Nasdaq. Upside volume was 95% on the NYSE, and 90% on the Nasdaq. New highs-new lows were 21-85 on the NYSE, and 44-85 on the Nasdaq.
 Technical Analysis: Bulls Get Confirmation
 Oracle, SAP Spar Over Discovery
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Bulls Bet on Bernanke 
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