...then what? Let me clarify my question. This rally will fail. I think most of us have set up to fade it. But if it fails today, and we end up close to even or even @ a loss, hasn't the fed just shot another was, in an increasingly diminishing arsenal, for no good effect? Isn't the fed really playing with fire here by concocting these harebrained schemes, such as expanding the type of collateralized debt it accepts (and a whopping 200bn at that - woohoo) and risking that they ultimately fail to give the market any support, thus decimating what little credibility they have? And wouldn't Milton Friedman be turning in his grave right now?