Good News / Bad News

They finally got the Sonofabitch C&%*sucker Zarqawi. About time.

That’s the good news; the bad news is, markets don’t seem to care much; Futures are down pretty significantly, as Japan sold off 3%, with most of Europe down 2%. Crude slipped below $70.

This suggests a few things to me: 

1) The forces in place taking markets lower are beyond the reach of short term news;   
2) Iraq has become such a debacle that the death of a significant scumbag is not that important;
3) The short term swings in the price of Oil, which hasn’t been appreciably below $60 very much for most of the past 2 months, is less significant to markets than previously believed.

Today will be interesting — watch for rally attempts in the futures pit, and a shot at reversing the sell off intraday.

>

UPDATE JUNE 8, 2006 7:32am

I hadn’t seen anyone discuss this, but the Bovespa in Brazil got shellacked yesterday — The ETF was  whacked 4.15% . . .

Category: Markets, Psychology, War/Defense

Open Thread

Category: Weblogs

Constitutional Amendments?

Category: Politics

How Long Do These Selloffs Last?

Category: Psychology, Technical Analysis, Trading

Tracking Bernanke

Category: Federal Reserve

Google vs Microsoft: Now We’re Getting Serious

Category: Investing, Technology, Web/Tech

Portfolio

Category: Trading

Media Appearance: Kudlow & Company (6/06/06)

Category: Media

Housing Slowdown Continues Apace

Category: Real Estate

Chart of the Week: Global Prices Total Return by Region

Category: Technical Analysis