Wednesday Wrap

• The SP500 is now 19.7% higher than it was at the lows on Friday, November 14th, 2008.  You remember back then, right?  Barack Obama was the President-elect and selecting his cabinet, the US automakers were seeking a federal bailout package, US troops were still in Iraq and Afghanistan, and the US economy seemed to be in trouble.
• That was then, this is now.  If we're in a long-term secular bear market that began in 2000, interrupted by a cyclical bull market in 2003-2007, back to the secular trend and new lows from 2007-2008, and now practically a new cyclical bull market from last Friday through today.  
• A cyclical bull market in 3+ days of trading.  Simply amazing. 
• The Detroit Lions are another NFL team with no cheerleaders.  *Sigh*  So I bring you their competition this week, Kerry, a Tennessee Titans cheerleader.  You have to think the Titans running game will be HUGE tomorrow.
• Barry Ritholtz has the SP500 Index returns from 1825 to 2008 in a "ginormous" chart.  Very cool, BR.  This year is at the extreme left of the picture.  So far.  C'mon, Santa Claus rally!
• Just as folks were having fun with the 3X beta ETFx comes the news that the VIX has fallen below the 50dma.  A close below today will signal that levels of fear have finally started to decline.
• Brooke Burke won Dancing with the Stars! 
• Google ($GOOG) admits to using undocumented API in Google Mobile app for iPhone
• $RIMM Blackberry Storm panned.
• President-elect Barack Obama names former Federal Reserve Chairman Paul Volcker to "New Economic Panel."  Sound like an old economic panel to me.  I hope he doesn't recommend raising the prime rate back to 21.5%.
• Oh, phrase change with the coming Obama administration.  "Economic Recovery Program" is the new "stimulus" package.  House Speaker Nancy Pelosi chimed in, "We're not using the word 'stimulus.'"  Well, no wonder the market has rallied this week.  It's all about presentation.
• Speaking of interest rates, 30-yr. fixed rates in the low 5's%.  WOW.