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Posted by lubow on August 22, 2008, 7:26 pm
I keep telling ya our government will pull all stops to keep crude low, say at
$115, but Cheney and Co. have one major problem. They're their own worst enemy.
We had a good thing going, even if it will only last until election day. Then
someone -- probably Karl Rove (grandson of an SS officer no less) -- suggested a
super-de-dooper crisis/confrontation with Putin. I mean if war got Bush
re-elected, why can't it get the party in power re-elected one more time?
Makes great logic but as usual, nobody checked to see the ramifications of,
e.g., placing missiles in Poland. I have no idea what Cheney instructed Condi
to tell Putin, but Putin apparently backed off in Georgia and Condi made herself
scarce for today.
Oil closing today at 114.85 after pushing the 122 resistance level the previous
day has to be proof enough that the only bureaucrats in DC crazier than a barrel
of Bill Reids in soiled Depends and more incompetent than the Three Stooges who
were given the title of "Secretary of the Treasury during the Bush
Administration" are those cuckoos in the State Dept.
Now, LK, don't take that as my usual slight against Pres. Bush. The State Dept
was always incompetent since the days of Henry Stimson. But having a Secretary
of State who is even more incompetent than the clowns who populate the joint
converts dangerous times into a powder keg.
As bad a liar (or pawn) as Gen Powell was at the UN, I seriously doubt if the
good general would be in Poland to negotiate a missile treaty.
>> Market soars to piss off Aero.
>
> My best guess is we will rally to +325 at end of day. . . .this and
> next
> week are padding periods made possible by low vol.
>
> I am bewildered and amazed by how they used a vacation period to
> demolish gold and energy. IMHO the knock back of gold and oil
> has presented the buying opp of the year, not so the S&P.
>
> BTW, vix is setting up what could be a very interesting and profitable
> Sept and October. The complacency is an expectation of
> Bailout Benny & Paulson being white knights, i hope they are right.
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