No Risk! What a Reversal!

Wall Street traders have completely eliminated all the losses in stocks today. As long as the Fed can print prosperity and keeps fabricating wealth backed by perma-bailouts, why care? Just buy! The Fedd poured $9.4 billion more into the financial markets today.
Stocks just went positive (not shown in this chart). The world, especially Europe, is in meltdown, but stocks are a good buy anyway. With SPY trading at a 45.6 P/E and yield at a paltry 2%, Wall Street is happy!