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To: marginmike who wrote (117786)	5/1/2002 11:26:34 AM
From: waverider	Respond to of 152472

RIG has pulled back a bit from the run this AM. Beginning to nibble here. wr

To: marginmike who wrote (117786)	5/1/2002 11:36:08 AM
From: carranza2	Read Replies (1) \| Respond to of 152472

The fact that Arafat has not approved the deal that got him a release from Ramallah indicates that there is a division between the hardliners in his group and the faction that wants to make peace. The continued uncertainty may have something to do with the market's skittishness. The US and the Saudis seem to have cut a deal whereby they pressure Arafat to go for peace and we pressure Israel along the same lines. None of this is going to work because I think that Arafat will continue his terrorism even if he agrees to any plan that releases him. He's an addict to violence and terror--it's the only thing he knows. He can't have a Palestinian state because he's incapable of being a peacetime leader. This means that there will be continued uncertainty in the ME and, more importantly, it is going to divert W's push against Iraq. Saddam will have more time, thanks to Arafat's shenanigans, to develop weapons of mass destruction. I think, for what it may be worth, that this is the market psychology at this time. It gives gold and oil a nice boost and the stock market a kick in the ass. Any positive news from the ME and you oil and gold guys better run for cover.