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Strategies & Market Trends : Z Best Place to Talk Stocks
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To: Larry S. who wrote (44376)10/28/2002 2:34:56 PM
From: E.J. Neitz Jr  Read Replies (2) of 53068
 
Larry, you are probably very right. Some of the new positions I put on a few weeks ago are up significantly. Many are slightly above break-even and a few are under-water. I plan to stay the course and hold for I do know it will be difficult to time re-entry should I sell. I do plan this. I am watching carefully the action. To protect myself I am planning to short the Q's to "hedge" my long positions.

Having lived and traded the last Iraq event I do expect this:

The US to break dialogue with the UN and form a coalition.
Attack Iraq, which I suspect may turn very ugly.
The markets will "freak out"...especially if bio/chem weapons are unleashed against coalition forces. We may respond with the newly developed "boring" low charged nuclear warheads to detonate underground to attempt to take out underground facilities.

So, while I am enjoying all this "wind pissing" I am growing cautious and think the market expects no action because of the UN inaction.

If and probably when this all pulls together the after event could very well be a bull market unlike anything anyone could imagine. Iraq probably has more oil reserves than the Kingdom of Saudi Arabia......$10/brl oil???? And that would be very very bullish for the world economy.
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