No no You're missing the point. Up phases are caused, directed, and managed from a dark room somewhere underneath the Eccles Building.
I think too much emphisis is onthe Fed during this rally since March. While I conceed that it may very well be some version of the windowless room, perhaps in the Eccles building or elsewhere, think we also need a portion of the scrutiny to be also cast upon upon a possible windowless room in some Treasury room somewhere, and let's not forget the [i]windowless rooms/i] that must abound within the various departments of the Gang of Tweens Primary Dealers wich by then the cacophony of chaos probably even scares the whales away...
I will say this appears to be a very smaht move by the Treasury to place this many bongs at this time. Git it while the gittin' is good, and causes the least damage and pressure on other speculative and investment vehicles out there, the hopes and dreams and crossed fingers of the dispossesed.