It seems, based on the latest Fed POMO schedule that there will be no 'Taper' anytime soon. We are downgrading our communications warning from"shorting the market on these days 'will' cause pain" to "shorting the market on these days 'may' cause pain" based on the increased volatility and total disarray that appears to have broken out among the great, good, and wise at the Fed this week - we still await the big "just kidding..." line from the Bernank...
In summary, spot the non-tapering trend: May POMO: $44 billion; June POMO: $45 billion; July POMO: $45 billion.
It seems Friday 5th, Wednesday 17th and Thursday 18th are your best bets...
And this...
