Glen, I haven't heard from Mr. Chenard yet. I went to Safehaven.com, which publishes his articles about once a week, and I read his last couple dozen articles. I like the guy. He makes a lot of sense, and I agree with much of what I read in his articles.
He has said a number of times that this rally from the July lows is mostly a combination of fed liquidity injections and the continual covering of what were very large nyse short positions.
Note that he does not saying anything about the fed secretly purchasing S&P futures or stocks. He's just drawing a correlation between liquidity injections through the tomo/pomo/coupon pass process and stock market increases.
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