Prepare yourselves for a wheelbarrow full of media and blogger stupidity this week as the Kansas City Fed Symposium gets underway at Jackson Hole, Wyoming. Sample headline: "Will Jackson Hole Save Stocks?" Allow me to frame the discussion and then I'll share my thoughts on the topic.
The consensus among stock guys is that if Chairman Bernanke "opens the door" for more stimulus in his remarks, then the market's summer slide may come to an end. Conversely, should anything less than accommodative notions tumble from his bearded maw, stocks may find it tough to find any buyers given the softening economy.
As an aside, it's interesting to note that teenage boys in Wyoming actually use "Jackson Hole" as a slang term for, well, use your imagination.
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