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Strategies & Market Trends : Galapagos Islands
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To: MulhollandDrive who wrote (44747)7/22/2003 4:43:18 PM
From: Jorj X Mckie  Read Replies (2) of 57110
 
Kudlow and Cramer just made the statement "who is going to want to be short or on the sidelines when saddam is caught or killed".

Well, the fact is nobody. Nobody is going to want to be short. In fact, I believe that there are far fewer functional shorts in the market now than there were three months ago.

My point is, no amount of good news will move the market up if all of the investment dollars are already deployed. And anyone watching the bullish percent indices should have an idea of the overbought nature of the market.

And on a fundamental note, Saddam and his forces are a nuisance at this point in the bigger picture. There is more to the oil prices than the fact that we have been meeting some resistance in Iraq.
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