Here are the numbers from today's POMO:
You can see an immediate correltation in bonds as the POMO's were wrapped up. Take a look at the 30 year right around the 10-11:00 hour as this sham was completed:
Gold also ramped as this monetization of our debt via POMO was completed this morning:
I think there are a few more POMO's scheduled this week. Short at your own risk here. I will keep some hedges short as protection but that's about it.
You have two choices in a market like this. Go long and buy total piece of crap stocks that are being constantly pumped up to ridiculous valuations by the Fed OR stay in cash.
I will play their game by owning some metals which should also benefit from the Fed's POMO donations to the big banks. I figure at least I will own something of value when the music stops.
Don't be fooled here folks, these POMO's are PURE printing and it helps explain why you have seen gold soar to $1350 this year.
The reality here is this printing is unsustainable and it will end up destroying our currency which coincidentally proceeded to drop like a rock following today's action by the Fed.