Morning update:
ISE equity opens at 199 as a bunch or retail speculators came in on the buy side. That should help bears gain more traction as dumb money exhausts itself by chasing this rally, which is now turning into a rout.
RUT (small caps) losing 750 as I type. NQ dumped 2034.75 as no buyers appeared.
SPX is now critical, below its 50 dma (1383.66).
From BBC news:
Analysis: Growing talk of Iran attack
The BBC's Middle East Editor, Jeremy Bowen, looks at increasing speculation that Iran may come under attack because of its nuclear programme.Plenty of influential people in the Middle East, Europe and the United States think an attack on Iran would have consequences potentially as disastrous as the invasion of Iraq in 2003. It would also send oil prices, already through the roof, into orbit.But the talk has started again. Negotiations with Iran - and sanctions against it - have not stopped it enriching uranium, which its critics say is being done to make a bomb.
ISE equity opens at 199 as a bunch or retail speculators came in on the buy side. That should help bears gain more traction as dumb money exhausts itself by chasing this rally, which is now turning into a rout.
RUT (small caps) losing 750 as I type. NQ dumped 2034.75 as no buyers appeared.
SPX is now critical, below its 50 dma (1383.66).
From BBC news:
Analysis: Growing talk of Iran attack
The BBC's Middle East Editor, Jeremy Bowen, looks at increasing speculation that Iran may come under attack because of its nuclear programme.Plenty of influential people in the Middle East, Europe and the United States think an attack on Iran would have consequences potentially as disastrous as the invasion of Iraq in 2003. It would also send oil prices, already through the roof, into orbit.But the talk has started again. Negotiations with Iran - and sanctions against it - have not stopped it enriching uranium, which its critics say is being done to make a bomb.
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on Friday, June 06, 2008 at 6/06/2008 10:04:00 AM.
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