IRAQ buckles under pressure

....This is not a matter of inspections. It is about disarmament of Iraq's weapons of mass destruction and the Iraqi regime's compliance with all other Security Council resolutions.

This is a tactical step by Iraq in hopes of avoiding strong U.N. Security Council action. As such, it is a tactic that will fail.
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<a href="http://www.washingtonpost.com/wp-dyn/articles/A26225-2002Sep16.html">Full text.</a>


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Crude's off 1.32, of course. Looks like Saddam has bought his moustached self a little time, but I think the tension is escalating, as he seems to have fewer and fewer pieces on the board.
 
At best, this takes us back to 1998, when inspections were taking place with endless games.

Don't get me wrong, I have some questions about the necessity for a war, but guys like Sadam are master of the bad faith negotiation

make the deal, break the deal, negotiate a compromise to resolve the new dispute, then break the new compromise

refuse to meet to discuss a new resolution, then agree to discuss in exchange for a concession, then cancel the meeting

finally agree to a meeting, but come to no compromise. agree to a compromise then break it


this will go one and on and on
 
Inactivity finally leads to reversal...
which leads to ? by the end of September?

Just how much of this slowing economy can be blamed on war jitters?
 
if the Squeeze is on ...

question would be ...

do we take out last weeks highs by end of week or by
tomm close ?

also ... if stops are hit above last weeks highs

in the next day .... will momentum carry us over those levels
or will there be new sellers ready to lose a few 1000 contracts?

I am actually short after the news hit but ready to take a small loss and re assess or go long overnight when europe opens
 
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