Bhutto DEAD

[9999]

Quote from usman88:

guys ease down
i am from pakistan and ill be better able to tell u guys abt the future
first of all events in pakistan have and should not have co-relation with the US markets therefore the I am sure u guys will see a reversal in the dollar and equities within 2-3 days.
secondly the suicide bombing by one person(who was most probably some illegal immigrant from afghanistan etc) does not means that whole Pakistan has become unstable.
Yes karachi stock exchange(pakistans biggest stock exchange) will turn bearsish for a week or two but with strong fundamentals(P/E of less than 10 e.g.) they will eventually go up

EDIT:

and btw to think that oil/metals would rally would be the biggest mistake

pakistan is a net importer of oil and if by % of total world demand and supply both is very insignificant. Moreover none of the precious metals are found in Pakistan nor in the neighbouing regions.
And pakistan is NOT in the middle east

So, no biggie then?
Business as usual?

 

[HedgefundTrader2]

Quote from pumpanddumper:

Sorry and unfortunate but market will fall heavy (at least in the morning)

I know it doesn't make sense but this is fear and uncertainty at least for a little bit.

Market was poised to fall this morning. All 3 major indexes were in overbought conditions. Market was poised for a pullback. Look at the charts and stochastics.

 

[usman88]

@9999

for KSE it is(only for short term)
but not for the US markets or the commodities

@weeman

thats exactly what i meant when i said u guys dont know about pakistan

 

[HedgefundTrader2]

Quote from Martin Gale:

Bush blames Bhutto's assasination on Al Qaeda and uses it as an excuse to go into Pakistan.

You mean we would attack Pakistan and take control of nukes? WOW.

 

[HedgefundTrader2]

Quote from mgabriel01:

If this indicates a general meltdown in Pakistan and they get Musharraf next --- then I suspect the financial markets would take more notice

If this is just Musharraf stacking the deck so that he gets to stay in power


eh.

Musharraf has calculated that his opponents won't last till election day, so let them run free, at the end of the day he will still be king!

 

[ajna]

Quote from day7793:

Musharraf has calculated that his opponents won't last till election day, so let them run free, at the end of the day he will still be king!

Good point. What opponents? They're either dead, jailed, or exiled.

I generally agree with Usman that this event likely doesn't have the cataclysmic effects some on this thread are predicting. I think it also speaks to how cynical and fatalistic people in South Asia have gotten regarding their politicians. White folks definitely wouldn't accept this!

 

[9999]

Quote from usman88:

@9999

for KSE it is(only for short term)
but not for the US markets or the commodities

.......

You're probably right.
I had - and I still have - the greatest admiration and respect for a person like her who willingly put her life in danger to carry on her ideas. Our cultures maybe quite different, but even as the markets are very cynical, I was thinking this was something more than a simple "correction". Silly me, should've known better. Maybe tomorrow they'll kill another candidate, but hey - there's plenty, so no biggie. Business as usual.

 

[RichardRimes]

Quote from usman88:

@JJ

Actually I do know more about Pakistan than you
What you hear in news isnt always true. E.g. I dont know the same about USA as much as you(considering u r from USA). SImilarly you dont know much about Pakistan.
I am giving you the INSIDE view. If you wanna stick with the news and 'what you hear' then its ur own choice

I don't disagree with what you say. If this assassination was a "real" geo political threat then the US market would have been down seriously not just 1% And the media never gets it right...however I'm SURE it was NOT one lone crazy guy.

 

[HedgefundTrader2]

Quote from RichardRimes:

I don't disagree with what you say. If this assassination was a "real" geo political threat then the US market would have been down seriously not just 1% And the media never gets it right...however I'm SURE it was NOT one lone crazy guy.

Methinks, Bhutto was perceived as a US stooge and the breaded ones didn't like her. Methinks the "bearded one" has a hand in this.

 

[pumpanddumper]

Quote from day7793:

Market was poised to fall this morning. All 3 major indexes were in overbought conditions. Market was poised for a pullback. Look at the charts and stochastics.

I know, regardless I am covering my huge short position at 3:59 to lock in profits. I'll take 2.4k on the day. Kind of tilted and went over my head this morning on the short. I know if I don't cover and lock in gains, market will gap up over night....