Well it looks like there will be no new money flowing into the market (at least that is what pre market shows). That is the fun part of trading, you get to redo your probabilities and instead of buying at the open I will probably be watching. We are oversold and it looks like we will be more oversold. Maybe we will actually get a real buying opportunity with a large spike in panic selling.
Israel and Iran are getting alot of air time this morning. I know many investors who put it close to inevitable. We shall see. One viewpoint I have heard floating around is for the next few weeks there will be alot of saber rattling and posturing laying the groundwork for an attack. Then it will go quiet for a few months until after the election. If Obama is elected, between the election and inauguration is when you would see an attack. Israel would not attack before the election because they would not want to influence the elections over here but would have to do before Obama officially took office. So you have the groundwork being laid now for an attack down the road.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aqA166Do0cdw&refer=home
Israel is increasingly likely to attack Iranian nuclear facilities this year, a U.S. Defense Department official told ABC News.
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